Invent Medic publishes Year-end report – Eventful end to a challenging year

The Board of Directors and the President will issue the following financial statements for the 2020 financial year. Unless otherwise specified, all amounts are reported in integers (SEK). Data in parentheses refer to the previous year.

CEO Karin Bryder summarizes

We concluded in 2020 at a fast pace. Efemia bladder support was included in the German health care list of eligible medicinal products, a distribution agreement was signed for Spain, the application for market registration for Efemia in the United States was completed for final review by EMERGO and a holistic menstrual cup project was included in our product pipeline. Compared to all the human and economic tragedies  of the  pandemic, our challenges are easy to deal with, but at the same time we would have liked our distributors to have been able to implement their ambitious growth strategies that were ready in early 2020. Despite this, we note that Invent Medic’s net sales increased from SEK 620 thousand to SEK 1,517 thousand in 2020, an increase of approximately 140%.  The marginal contribution,  exceeded 70%, which is very gratifying to note. It is mainly Sweden and Norway that have accounted for our turnover, and it is clear that the product is now starting to be well received in the Nordic region with recurring customers. We see that women continue to use Efemia bladder support and that prescribers recommend it more and more. With new strategies and ambitious plans at all our distributors, a new product, and new markets, I look forward to 2021 with great confidence.

TWELVE MONTHS (January – December 2020)

• The company’s sales amounted to SEK 1,517,000 (620,000).
• Other operating income amounted to SEK 30 (0) k.
• Operating expenses amounted to SEK 16,941,000 (13,357,000).
• Profit before and after tax amounted to SEK -15,643,000 (-12,743,000).
• Earnings per share amounted to SEK -1.12 (-1.23).
• Cash and cash equivalents at the end of the period amounted to SEK 10,899,000

The Board of Directors and the Ceo propose that no dividend be paid for the financial year 2020-01-01 – 2020-12-31

FOURTH QUARTER (October – December 2020)

• The company’s sales amounted to SEK 356,000 (372,000)
• Other operating income amounted to SEK 17 (0) k.
• Operating expenses amounted to SEK 4,909,000 (4,150,000).
• Profit before and after tax amounted to SEK -4,593,000 (-3,783,000). 
• Earnings per share amounted to SEK -0.31 (-0.37).

Results in brief

This disclosure contains information that Invent Medic Sweden is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 11-02-2021 09:37 CET.