CS MEDICA

CS MEDICA A/S (“CS MEDICA” or the “Company”) is happy to announce that the order intake from Q1 on the Pain Patch is ready for delivery in July, with an approximately two months shorter lead time than last year orders. Hence the company's new own-label customers in Italy (Montefamarco), Austria (BioBloom), and existing customer Forbe Health in Israel will receive the 45.500 products in total within two months, which will have a positive effect on CS MEDICA's cash flow.

Lone Henriksen, CEO CS MEDICA, comments 

 "It is very positive to witness the effect from our improved processes which not only benefits our customers, but also CS MEDICA's cash flow".

New European and APAC distributors
CS Medica has signed new, strong distributors in Balkan and Australia for the entire CANNASEN® line of products. 

• PalcoNutrifit has a strong foothold in the Balkan markets of Croatia, Serbia, Bosnia, and Montenegro and will assist in speeding up the product registration outside the EU. The first-year contract value is 2.6M DKK.

• ICON Medipharm is an international and prominent distributor and wholesaler of pharmaceutical and medical consumables in Australia with 3,500 pharmaceutical products and 1,500+ medical supply products. ICON Medipharm further supplies cannabis clinics in Brisbane and will assist with the local registration of the CANNASEN® products. ICON Medipharm's network also includes the UK, the EU region, and South East Asia allowing expanding the relationship further after Australia is launched. The first-year contract value is 3M DKK.

Lone Henriksen, CEO CS MEDICA, continues

 "We are proud to announce our presence in APAC (Asia Pacific) is growing with strong partners as this target region is one of the fastest growing within CBD and alternative OTC products. Furthermore, we are pleased that the European markets are actively requesting to distribute our branded products."

Outlook for 2022/23 is reiterated
The Company's expectations of year-to-date revenue growth of 120-130% from DKK 10.6M in 2021/22 and increased operating profits are reiterated.