EQS Group-Ad-hoc: IGEA Pharma N.V. / Key word(s): Annual Results
IGEA disclosed its Annual Report 2019
31-May-2020 / 22:56 CET/CEST
Release of an ad hoc announcement pursuant to Art. 53 KR
The issuer is solely responsible for the content of this announcement.
*IGEA disclosed its Annual Report 2019*
Hoofddorp, the Netherlands, 31 May 2020. IGEA Pharma N.V. (SIX: IGPH) today
announced the disclosure of its Annual Report 2019.
_Overview 2019_
Due to the ongoing market launch of its products, lasting more than
expected, revenues continued to be marginal for 2019. The Group expects a
significant impact on the net sales in the second half of 2020, mainly
driven by the diversification to wholesale distribution undertaken by late
2019/early 2020. Cost of revenues were TUSD 440 (2018: 198), with an
increase due to the impairment (TUSD 167) of certain intangible assets no
more considered strategic for the business and the generally increased level
of activities (TUSD 75). Operating expenses were TUSD 1.491 (2018: 1,275),
of which TUSD 122 for research and development (2018: none), TUSD 528 for
sales and marketing (2018: none) and TUSD 841 (2018: 1,280) for general and
administration. The increase in sales and marketing is mainly due to the
increased level of e-commerce related activities and services for market
launch. General and administration cost were generally reduced by TUSD 741
(of which however TUSD 375 were for cost of listing by end of 2018), offset
by an increase of TUSD 302 mainly due to the management who started to
operate beginning of 2019. EBITDA (as adjusted for impairment charges) and
EBIT figures were TUSD -1.617 (2018: -1,388) and TUSD -1,930 (2018: -1,467)
respectively, and the loss of the year is TUSD -1'908 (2018: -1,428),
representing a basic and diluted loss per share of USD 0.076 (2018: 0.062).
The Group assets are TUSD 1,067 (2018: 3,487), of which TUSD 546 (2018:
2.941) of current nature, decreasing during the year mainly by the cash used
for operations. Liabilities are TUSD 523 (2018: 935) and shareholder's
equity is TUSD 544 (2018: 2,551).
_Outlook 2020_
The Group diversified its distribution strategy by entering the wholesale
channel, partnering with Acalis Group, with the goal to expand also in new
markets. The results of this strategy are expected during the second half of
2020. The Group intends to strengthen the e-commerce-based distribution and
to further diversify its product portfolio by way of raising additional
funds. The various government-ordered lockdown following the global spread
of COVID-19 and the shutdown in the capital markets required IGEA to suspend
this initiative beginning 2020. Meanwhile, the Group has granted the funds
to operate the business as planned through unsecured, non-interest bearing
and not redeemable convertible loans. The Group will resume its suspended
fundraising activities within the next coming weeks.
Furthermore, the Group anticipated a postponement of its second ordinary
general meeting to newly 3 July 2020. The convening notice and material will
be disclosed within the next coming days.
The Annual Report 2019 is available at
https://www.igeapharma.nl/category/financial-reports/ [1]
***
*About IGEA*
IGEA Pharma N.V. focuses on health-tech and med-tech products and devices.
Health-tech products are exclusively preventative. IGEA commercializes an
Alzheimer's prevention set (which includes 'Alz1', an at-home lab test kit
to measure non-bound copper in the blood and a natural dietary supplement
branded 'Alz1 Tab' designed to reduce blood heavy metals content), and
intends to launch a diabetes type II prevention set in 2020.
Non-ceruloplasmin bound copper is an expected Alzheimer's and diabetes type
II associated biomarker. Controlling non-bound copper can contribute to
reduce the risk of Alzheimer's and diabetes type II. Since 2020, IGEA
furthermore commercializes a COVID-19 rapid test for the detection of IgM
and IgG SARC-CoV-2 related antibodies. Med-tech products focuses on selected
solutions and specialities. IGEA commercializes dry aerosol generators for
air and inanimate environmental surfaces sanitization and air sterilization
and purification devices and expects to start commercializing medical bags
and other polymeric based specialty devices for medical use during 2020.
IGEA is listed on the SIX Swiss Exchange (ticker IGPH) and is headquartered
in Hoofddorp, the Netherlands. Find out more at www.igeapharma.nl
*Contacts*
Vincenzo Moccia, CEO, +39 340 583 09 33, moccia@igeapharma.com
Patrick Pozzorini, CFO, +41 79 314 41 43, pozzorini@igeapharma.com
*Disclaimer*
This document constitutes neither an offer to buy nor to subscribe
securities and neither this document nor any part of it should form the
basis of any investment decision in IGEA.
The information contained in this press release has been carefully prepared.
However, IGEA bears and assumes no liability of whatever kind for the
correctness and completeness of the information provided herein. IGEA does
not assume an obligation of whatever kind to update or correct information
contained in this press release whether as a result of new information,
future events or for other reasons.
This publication may contain specific forward-looking statements and
assessments or intentions concerning IGEA and its business. Such
forward-looking statements are subject to known and unknown risks,
uncertainties and other factors which may result in a substantial divergence
between the actual results, financial situation, development or performance
of IGEA and those explicitly or implicitly presumed in these statements.
Against the background of these uncertainties, readers should not rely on
forward-looking statements. IGEA assumes no responsibility to update
forward-looking statements or to adapt them to future events or
developments, except as may be required by law.
Additional features:
Document: https://eqs-cockpit.com/c/fncls.ssp?u=UIXHEHCKEM [2]
Document title: 20200531 igea nv_press release
End of ad hoc announcement
Language: English
Company: IGEA Pharma N.V.
Siriusdreef 17
2123 WT Hoofddorp
Netherlands
Phone: +31 23 568 9494
E-mail: info@igearesearch.com
Internet: www.igeapharma.nl
ISIN: NL0012768675
Listed: SIX Swiss Exchange
EQS News ID: 1059679
End of Announcement EQS Group News Service
1059679 31-May-2020 CET/CEST
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(END) Dow Jones Newswires
May 31, 2020 16:59 ET (20:59 GMT)
