Navamedic Sees Impressive Growth in Q1 2025, Sets Expansive Future Focus

Navamedic Reports Strong Performance in Q1 2025



In the first quarter of 2025, Navamedic ASA (OSE: NAVA), a prominent player in the Nordic pharmaceutical sector, showcased a remarkable start to the year.

With revenues hitting NOK 132 million, marking a 9.2% increase compared to the same quarter of 2024, the company demonstrated the fruitful results of its strategic growth initiatives. The EBITDA surged to NOK 12.8 million from NOK 8.5 million last year, reflecting the company’s increasing profitability and operational efficiency. The gross margin also improved to 40.7%, up from 38.7% in Q1 2024.

Key Growth Drivers



Navamedic’s performance has been primarily driven by its Hospital division, particularly in the antibiotics segment. The company secured two significant long-term tenders in 2024, which have positively impacted sales, contributing to a year-on-year increase in antibiotics revenue of 32%. Additionally, there was robust growth in the Prescription Drugs (RX) category, which rose by 11.5% year-over-year.

Kathrine Gamborg Andreassen, CEO of Navamedic, stated, "After investing in several strategic growth initiatives last year, we are pleased to see such strong results already in the first quarter of 2025. The positive impact of the Nordic tender wins for our antibiotics portfolio has just begun to materialize. Several products, including Mysimba and Imdur from our RX segment, have performed exceptionally well this quarter."

In alignment with the ongoing success in the RX segment, revenue for Mysimba increased by 7.3%. The European Medicines Agency’s Human Medicines Committee also confirmed that the benefits of Mysimba in weight management for adults continue to outweigh the risks.

Challenges and Opportunities



However, not all products contributed positively to the revenue stream. Forlax experienced a significant revenue drop of 45%, attributed to increased market competition. Conversely, Imdur and Nitrolingual showed excellent performances with 54% and 22% revenue growth, respectively. Not to mention, Flexilev, a treatment for Parkinson's Disease, saw a 13% year-on-year increase in sales.

The Consumer Health division remained stable, with Modifast showing consistent results, while other products like Absolut Torr enjoyed a notable 49% increase in revenue.

Financial Position and Future Outlook



Operating profits (EBIT) for the first quarter stood at NOK 9.1 million compared to NOK 4.9 million in the previous year. Operating costs, however, rose to NOK 40.9 million, up from NOK 38.3 million. Despite some challenges in net financial items, which concluded at negative NOK 11 million, Navamedic’s pre-tax loss was constrained to NOK 1.8 million.

The company reiterates its medium-term goal of reaching NOK 1 billion in revenue. The outlook remains positive, with many potential expansion opportunities in the pipeline. The introduction of products with the capability for international success is a central aim for Navamedic as it looks to elevate its market presence further.

Commitment to Growth



"Our early success in 2025 is encouraging. Several of our key products span across our three business areas are positioned to thrive internationally," Andreassen remarked. She noted that identifying growth opportunities for these products will be pivotal in supporting Navamedic’s ongoing expansion.

In conclusion, Navamedic ASA is not only poised for a promising year ahead but also remains firmly committed to enhancing its product offerings and market reach within the Nordic and Benelux regions. The management will present their full results at 8:30 AM on April 30, 2025, showcasing their growth trajectory and plans for the forthcoming periods.

For those interested in following Navamedic’s journey, further information can be sourced from their official presentation as well as direct inquiries with their executive team.

Topics Health)

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