MAGLE CHEMOSWED (publ), a Swedish based contract development and manufacturing organization that serves companies in the pharmaceutical and medical device industry on a contract basis today publishes the interim report for the second quarter 2020.
STABLE GROWTH DESPITE COVID-19
“Despite the challenges presented by the COVID-19 situation the Company continues to show growth in the CDMO area and has maintained the technology product pipeline with the updated regulatory submission of the SmartGel device.” Justin Pierce, CEO
APRIL – JUNE 2020
- Net sales for April-June amounted to TSEK 34 263 (30 331), an increase of 11 per cent compared with the same period the previous year. The active pharmaceutical ingredient manufacturing revenues decreased by 47 per cent to TSEK 13 557 from TSEK 25 450 in 2019. Sales in CDMO services increased by 55 per cent to TSEK 7 571 compared to TSEK 4 881 in 2019. Medical device sales were at TSEK 1 376 (0).
- The technology royalties for the period were TSEK 13 135 (0).
- The currency translation effect was negative by TSEK 611.
- The profit/loss for the second quarter amounted to TSEK 2 483 (-4 848).
- Earnings per share of SEK 0.25 (-9 696).
- Operating profit (EBIT) amounted to 3 049 TSEK (-6 027)
- Sales of technology-based product amounted to 498 TSEK (0)
- Magle Chemoswed announced the appointment of Petra Sjölin as chief financial officer.
Magle Chemoswed’s Q2 2020 Interim Report is now available in PDF format on the corporate web site, https://maglegroup.com/financial-information/ and attached at the end of this press release.