Magle Group (publ) reports strong Q3 2024 performance, with sales growth and strategic mergers positioning the company for future market expansion.
Q3 2024 KEY INDICATORS
Net sales amounted to 64.6 MSEK (36.3).
EBITDA equalled 26.5 MSEK (4.8).
Operating profit (EBIT) is 13.7 MSEK (1.5)
Profit after tax amounted to 9.6 MSEK (0.5)
JAN-SEP 2024 KEY INDICATORS
Net sales amounted to 148.8 MSEK (113.1).
EBITDA equalled 38.8 MSEK (21.8).
Operating profit (EBIT) is 19.2 MSEK (12.1)
Profit after tax amounted to 12.7 MSEK (8.1)
"As we close the third quarter of 2024, I am pleased to report strong progress for Magle Group. We have successfully completed the merger with PK Chemical A/S and are nearing completion with Amniotics AB. These strategic acquisitions bring valuable technologies that strengthen our mission to deliver innovative healthcare solutions. This quarter's results were positively impacted by the purchase price allocation (PPA) under IFRS, contributing a one-off, extraordinary income. Excluding the PPA adjustment, our underlying performance remains solid, with revenue for the quarter reaching 69.9 MSEK, up from 40.59 MSEK last year. Looking ahead, we remain focused on integrating our new businesses, driving growth, and achieving cost synergies. I am confident that our efforts will position us for sustained success." said Justin Pierce, CEO.
Contacts
Justin Pierce, CEO, phone +46 (0)70 593 58 21, justin.pierce@maglechemoswed.com
About Us
The Magle Group aims to establish itself as a leader in high-quality life-changing healthcare innovations to meet medical needs through scientific excellence. The Magle Group is founded on strategic acquisitions aimed at driving growth and diversifying risk. Today, the Group includes three operational areas. Magle Chemoswed - a contract development and manufacturing organization (CDMO) with a strong reputation for its high-quality development and manufacturing expertise and Magle PharmaCept - an established sales and marketing company for development and direct sales of the Groups medical technology products. Magle Biopolymers A/S- a specialized manufacturing organization of Dextran technology. Learn more on www.maglechemoswed.com and www.maglegroup.com and www.maglepharmacept.com and www.maglebiopolymers.com
Vator Securities is the Company's certified adviser on Nasdaq First North Growth Market and can be reached at ca@vatorsec.se or +46 (0)8-580 065 99.
