EQL Pharma (EQL) Q1 24/25 earnings summary

Executive summary

• Revenue grew 47% year-over-year to 82.8 MSEK, driven by new product launches and recovery of previously out-of-stock antibiotics.

• EBIT increased 92% to 15.2 MSEK, with all business areas contributing positively.

• Four new products launched in Denmark; Mellozzan launched in Germany and Austria, with approval in Switzerland post-quarter.

• EQL Pharma approved for listing on Nasdaq Stockholm, with trading commencing July 4, 2024.

Financial highlights

• Net sales: 82.8 MSEK (56.2), up 47% year-over-year.

• Gross profit: 37.0 MSEK (26.2), up 41%; gross margin 45% (47%).

• EBIT: 15.2 MSEK (7.9), up 92%; EBIT margin 18% (14%).

• EBITDA margin: 19% (18%).

• EPS: 0.36 SEK (0.23) before and after dilution.

• Operating cash flow: -19.8 MSEK (-12.0); cash at period end: 13.4 MSEK (24.8).

Outlook and guidance

• Projected sales growth of around 40% for FY 2024/25, in line with long-term targets.

• Targeting EBITDA margin above 25% by the end of 2024/25.

• Financial goals for the next five-year period to be communicated later in the year.