SenzaGen AB: GARD going stronger and subsidiary enters new phase

Message from the CEO
"2024 was yet another strong year for SenzaGen with record growth for our core business GARD®, with sales increasing by 53% to nearly SEK 40 million. The Group's total revenue increased by 16% to SEK 58 million, and the loss at the EBITDA level was cut in half compared with the previous year, amounting to SEK -5.6 million. Meanwhile, measures taken at VitroScreen have laid the foundation for the subsidiary to restore and then accelerate growth. With a strong cash position, high demand and growth initiatives in both product development and sales, we are heading into 2025 strongly equipped to continue our growth journey."

Peter Nählstedt, President and CEO

Full year 2024

• Net sales totaled SEK 57.7 (49.9) million.
• EBITDA amounted to SEK -5.6 (-10.9) million.
• Earnings per share were SEK -0.65 (-0.91).
• Cash and cash equivalents at 31 December amounted to SEK 39.6 (17.6) million.
• The board proposes that no dividend be paid to the Company's shareholders.

Q4 2024

• Net sales totaled SEK 15.5 (16.2) million.
• EBITDA amounted to SEK -1.9 (-1.8) million.
• Earnings per share were SEK -0.16 (-0.20).

Significant events during the year

• Strong growth in the chemicals industry: SenzaGen received a major order worth SEK 1.5 million for GARD®skin tests from an existing customer in the chemicals industry. The relationship with this global chemicals leader was further strengthened with a follow-up order worth SEK 0.8 million during the year. Additionally, an SEK 1.3 million order for GARD®skin Dose-Response was secured from another global player in this sector, highlighting the rapidly growing interest in our solutions.
• Expanded collaboration with RIFM*: SenzaGen's collaboration with RIFM was expanded with two orders for GARD®skin Dose-Response: one for quantitative risk assessment worth SEK 1.5 million and one for photosensitization worth SEK 3.0 million.
• The results of SenzaGen's partnership with L'Oréal were presented at the SOT** Annual Meeting and ToxExpo in the US, the largest toxicology event in the world, serving as a key industry credential.
• SenzaGen expanded its US market presence via a license agreement with CRO Institute for In Vitro Sciences (IIVS).
• A directed issue of shares equivalent to SEK 37.2 million was conducted to a number of professional investors. The proceeds of the issue enable several ambitious initiatives to secure future growth.

* Research Institute for Fragrance Materials (RIFM).
** Society of Toxicology (SOT)

Webcast presentation
SenzaGen is pleased to invite press and investors to a webcast presentation at 12:00 on February 13. The presentation will be given by the SenzaGen's President and CEO, Peter Nählstedt, followed by a Q&A session moderated by Redeye's analyst Gustaf Meyer. The presentation will be held in English.

Time: Thursday, February 13, from 12:00 to 13:00.
Link to webcast: https://www.redeye.se/events/1071217/live-q-senzagen-3.

The presentation can be watched afterwards at SenzaGen's website: https://senzagen.com/investors/presentations/

Contacts

Peter Nählstedt, President and CEO, SenzaGen AB
Email: [e-mail] | Mobile: [phone]

Tina Dackemark Lawesson, VP Marketing & Communications
Email: [e-mail] | Mobile: [phone]

This information is information that SenzaGen 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 2025-02-13 08:30 CET.