Newbury Pharmaceuticals

Quarter 4, June 2024 – August 2024
· Net revenue was 21 123 (2 827) tkr.
· EBITDA was 2 402 (-4 468) tkr.
· Operating cash flow was 130 (-3 631) tkr.

Year-end period, September 2023 – August 2024
· Net revenue was 36 829 (10 266) tkr.
· EBITDA was -12 340 (-18 332) tkr.
· Operating cash flow was -23 707 (-23 227) tkr.
· Cash position in the end of period was 15 303 (8 528) tkr.
· Licensed products at the end of period were 31 (33).
· Products with distribution rights at the end of the period were 12 (2).
· Products with marketing authorization in the end of the period were 21 (13).
· Products launched in Nordics at end of the period 13 (3).

Significant events during the quarter
· Newbury Pharmaceuticals is strengthening its portfolio with Dalbavancin Powder for infusion, replacing a previously signed product, Daptomycin, from the same partner. The commercial attractiveness is judged to be better for Dalbavancin and no additional in-licensing fees will be paid.
· Newbury Pharmaceuticals Secures Generic Approval for Liraglutide Pre-Filled Pen in Denmark.
· Initiated commercialisation of various Amarox products in Sweden – a distribution partner.
· Newbury Pharmaceuticals held an extraordinary general meeting 31 July 2024 and elected two new board members, Ramon Vila Ramos and Ivailo S. Georgiev. The extraordinary general meeting also resolved on an incentive program to the board members comprising a directed issue of 1 000 000 warrants.

Significant events after the end of the quarter
· Newbury Pharmaceuticals is pleased to announce the successful Marketing Authorization (MA) of Varenicline Newbury in Sweden – a medicine treating smoking cessation.
· Newbury has agreed to a 12-month extension of the loan agreement announced on the 18th of September 2023. The loan terms remain unchanged except for a new maturity date of December 31st of 2025.

A word from the CEO
We are closing the year with strong quarterly results. First of all, we deliver record sales with more than 21 MSEK in turnover during the 4th Quarter. Furthermore, we deliver the first positive quarterly EBITDA result and thereby deliver on the financial goal for 2024.

Strong sales uptake in Q4
We deliver strong turnover in this quarter, above 21 MSEK. Sales in the Nordics reached 11 MSEK while international sales reached close to 10 MSEK. The combination of strong sales in both segments is a result of more products having been launched in the Nordics, as well as a large international sales order having been delivered.

We are extremely pleased to report such strong sales which is a combination of a large international sales order and the result of an excellent launch of a new product in the Nordics resulting in a strong uptake by winning monthly tenders in a row. We will continue to pursue such opportunities while we acknowledge that tender sales by nature will fluctuate quarter by quarter.

Delivering on financial goal for 2024
We have previously communicated a goal to deliver a positive quarterly EBITDA during 2024. I am very pleased to report that we already achieve a positive EBITDA in this quarter (June-August). We reached an EBITDA of 2,4 MSEK which is an EBITDA margin of 11,3 %, and both the international sales as well as the Nordic sales units were able to deliver positive EBITDA for the quarter.

The strong sales combined with strong cost control have helped deliver this result. The growth in other operating expenses is related to sales driven costs and thus variable in nature.

Continuing to obtain registrations and launch new products
We continue to obtain more product approvals in the Nordics with 21 products approved and we therefor also plan to launch more products than the present 13 products during 2025. We see the advantage of having more products on the market which is providing more sales opportunities while it provides a balanced portfolio to minimize the impact from tender competition and regulatory delays. It is too early to anticipate the sales uptake for these new launches, but in general, we are moving in the right direction with more products on the market and thereby more opportunities to win tenders. International sales orders will always fluctuate over the year and similarly the monthly sales across the Nordics are to a large extend dependent on winning tenders and having enough inventory to supply the market. For that reason, fluctuating turnover will also occur in the Nordics while we maintain an ambition of continued annual sales growth.

We are pleased with our achievements, and we continue focusing on executing our growth plans by launching additional products and building a stronger company for the future.

AUDIT
This report has not been reviewed by Newbury Pharmaceuticals auditor.

The report is publised on Newbury Pharmaceuticals website:
https://www.newburypharma.com/investors/financial-information/