Year-end Report 2019

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STENOCARE A/S (“STENOCARE”) today announces its results for the period 01.01.2019 – 31.12.2019. The report is available as an attached file and on https://stenocare.com/investor-relations/

The Year-end Report 2019 is influenced by three major events during the year. First, the company had a strong sale of products that resulted in a Q1 with an operating profit of DKK 1,5mill. Secondly, the company had to quarantine products and pause sales for the remainder of the year. Thirdly, the company entered into a settlement agreement with the supplier of the quarantined products and received a compensation in cash and stocks. The net effect of these three events is an EBITDA of +4.4mill DKK for the full year.

Thomas Skovlund Schnegelsberg, CEO of STENOCARE, comments:

“2019 may have taken unexpected turns, but all in all, we can look back at a year where our quality of execution helped us achieve the goals of STENOCARE 1.0, a strong foundation for our future was established and closing the year with an EBITDA of +4.4 mill DKK”.

 

(KDKK)01.10.2019 31.12.2019 3 months01.10.2018 31.12.2018 3 months01.01.2019 31.12.2019 12 months 01.01.2018 31.12.2018 12 months
Total income (*)11,2553,02016,2064,145
Net sales03,0204,9424,145
Operating profit before depreciation (EBITDA)7,313-1,2594,417-3,591
Net financial items-485-11-2,112-13
Result per share (DKK)0.59-0.160.19-0.47
Solidity (%)43944394

The Company’s result per share: The result for the period divided by the average number of shares. Total number of shares as of December 31st, 2019, amounted to 8,942,762 (8,942,762). Average number of shares for the fourth quarter 2019 is 8,942,762 (8,208,429**).

Solidity: Equity divided by total capital.

*Total income incl net sales and other income

** Calculated with the adjustment with the IPO on Oct 26,2018

 

 

Highlights during the fourth quarter 2019

  • October 2019, STENOCARE published a press release regarding ‘STENOCARE 2.0 and beyond’. The strategy for becoming a leading brand in the medical cannabis industry and expand the business internationally.
  • November 2019, STENOCARE announced the signing of a new agreement to source medical cannabis for Denmark and the Company’s international markets with the Canadian company Emerald Health Therapeutics Inc. 
  • December 2019, STENOCARE announced the signing of a strategic partnership agreement to develop, test and commercialize advanced cannabis-based medical products with Danish company Solural Pharma Aps.

Highlights after the period:

  • January 2020, STENOCARE announced that a settlement agreement with CannTrust Holding Inc. had been signed. The one-off settlement agreement clears all matters between the parties and STENOCARE receives a compensation comprising of CAD 500,000 and 272,727 shares in STENOCARE.
  • January 2020, STENOCARE announced notification of changes in major shareholding and increased holding of own shares. The three founders received back all remaining CannTrust owned shares in STENOCARE. The Founders have also decided to forward 50 to 60% of these shares to STENOCARE as a non-cash contribution

 

 

This information is information that STENOCARE A/S is obliged to publish in accordance with the EU Market Abuse Regulation. The information was provided by the contact person below for publication on February 26th, 2020.