ProstaLund is on a good track to establish CoreTherm® internationally again
Second quarter
April 1 - June 30
- Net sales reached SEK 2,8 (5,3) million
- Operating profit/loss totaled SEK -7,2 million (-4,0) million
- Loss after taxes SEK -7,2 (-4,1) million
- Earnings per share, SEK (basic and diluted) amounted to SEK -0,09 (-0,07)
- Cash flow from operating activities amounted to SEK -6,6 (-0,5) million
January 1 - June 30
- Net sales reached SEK 6,3 (10,9) million
- Operating profit/loss totaled SEK -11,9 million (-7,2) million
- Loss after taxes SEK -12,0 (-7,3) million
- Earnings per share, SEK (basic and diluted) amounted to SEK -0,16 (-0,12)
- Cash flow from operating activities amounted to SEK -12,7 (-6,0) million
- Cash and cash equivalents amounted to SEK 3,4 (34,1) million as per June 30, 2024
Significant events during the period
- Two new studies with ProstaLund's Schelin Catheter® presented at the EAU in Paris on April 8
- Positive results from unannounced inspection by TÜV SÜD, regarding our regulatory authorisations conducted on April 9-10
- ProstaLund and Capio Specialistcenter AB signed on Aprill 22 a new agre- ement regarding disposable materials used in CoreTherm® treatments. The agreement is over 12 months, with an option to extend. The order value is approximately SEK 1,3 million over the contract period. The agreement repla- ces the previous agreement with Capio Specialistcenter AB
- ProstaLund decided on May 20 that the Board of Directors intends to decide on a rights issue of units for an initial issue amount of around 29 MSEK
- The preliminary investigation towards the former Chairman and major share- holders of the Company was closed on May 23
- ProstaLund received a certificate with MDR and ISO13485 from TÜV SÜD on May 27
- The communique from the annual general meeting was published on May 30
- New agreement signed on May 31st regarding CoreTherm® treatments in Austria
- Bridge loan amounting to 4 MSEK was signed with the main owner on June 10
- New agreement signed on June 24 regarding CoreTherm® treatments in Arhus, Denmark
- The outcome of the rights issue was published on June 28. Around 80 per- cent or SEK 23 million was reached before deduction of the costs related to the transaction
Significant events after the end of the period
- ProstaLund informed on July 3rd that a direct issue of units instead of cash compensation to one Guarantor will be performed in connection with the right issue
- ProstaLund informed on July 11 that it will announce the last day of trading in BTUs after the rights issue has been registered.
- ProstaLund informed on July 17 the last day of trading in BTUs and the first day of trading in warrants of series TO 3.
Key figures
| (SEK MILLION) | APRIL-JUNE 2024 | APRIL-JUNE 2023 | JAN-JUNE 2024 | JAN-JUNE 2023 |
| Net sales | 2,8 | 5,3 | 6,3 | 10,9 |
| Gross Margin, (%) | 74,1 | 67,5 | 71,7 | 67,9 |
| Operating profit/loss, EBIT | -7,2 | -4,0 | -11,9 | -7,2 |
| Cash flow from operating activites | -6,1 | -0,5 | -12,7 | -6,0 |
| Cash and cash equivalents | 3,4 | 34,1 | 3,4 | 34,1 |
| Average number of employees | 8 | 9 | 6 | 9 |
"With a new organisation in place, we are moving full speed ahead!"
Anders Kristensson
CEO, ProstaLund AB (publ)
Please see attached PDF for full report.
For further information, please contact:
Anders Kristensson, CEO
Tel. +46 (0) 769 42 12 16
Email: anders.kristensson@prostalund.com
About ProstaLund
ProstaLund AB (publ) is a Swedish medtech company headquartered in Lund that develops and markets innovative products for the treatment of Benign Prostatic Enlargement (BPE). The company has patented the CoreTherm® Concept, a customised thermal treatment for BPE. ProstaLund is listed on Nasdaq First North Growth Market and has approximately 3,600 shareholders. For more information, visit www.prostalund.se. Our press releases are also available to read and download here: www.prostalund.se/pressmeddelanden
Certified Adviser:
Västra Hamnen Corporate Finance AB
Phone: +46 40 200 250
E-mail: ca@vhcorp.se
This information is information that ProstaLund AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-08-19 07:30 CEST.
