Navamedic

Earnings Release • Apr 30, 2025

Navamedic Q1 2025: Strong start of the year and well-positioned for future growth

Navamedic Q1 2025: Strong start of the year and well-positioned for future growth

Oslo, 30 April 2025 - In the first quarter of 2025, Navamedic ASA (OSE: NAVA), a

Nordic pharma company and trusted supplier of high-quality prescription,

consumer health, and hospital products to hospitals and pharmacies, reported

revenues of NOK 132.0 million, representing a 9.2 per cent increase from the

same period in 2024. EBITDA reached NOK 12.8 million, up from NOK 8.5 million

last year. Gross margin improved to 40.7per cent, compared to 38.7per cent in Q1

The strong performance was primarily driven by the Hospital area, particularly

the antibiotics portfolio, supported by two long-term Nordic tenders secured in

2024. The company also experienced double-digit revenue growth in its

Prescription Drugs (RX) area, contributing to the overall growth.

"After investing in several strategic growth initiatives last year, we are

pleased to see 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. In addition, several products, including Mysimba® and Imdur® from

our Prescription Drugs (RX) segment, delivered strong performance in the

quarter," said Kathrine Gamborg Andreassen, CEO of Navamedic.

"We are also pleased to announce the renewal of our agreement with TopRidge

Pharma, securing the exclusive rights to market and sell Imdur® for another

eight years. Over the past few years, we have systematically expanded and

matured our product portfolio while investing in initiatives to drive future

growth. The strong start to 2025 confirms the progress we are making," she

added.

Business area update and Q1 key figures

During the first quarter, the Prescription Drugs (up 11.5 per cent YoY) and

Hospital (up 15.2 per cent YoY) business areas delivered strong growth. Consumer

Health had a steady development in the period (up 0.3 per cent YoY).

As part of the Prescription Drugs area, revenues of Mysimba® increased by 7.3

per cent YoY. During the quarter, the European Medicines Agency's Human

Medicines Committee also announced its review of Mysimba®. It affirmed that the

benefits continue to outweigh the risks for weight management in adults with

obesity or overweight.

Imdur® and Nitrolingual® performed well in the quarter and were up 54 per cent

and 22 per cent, respectively. Flexilev®, the company's unique treatment for

Parkinson's Disease, delivered sales growth of 13 per cent YoY. Forlax® had a

revenue decrease of 45 per cent due increased competition.

For the Hospital area, the two tender wins drove sales growth in the antibiotics

portfolio, which is up 32 per cent YoY, whilst the Medical Nutrition portfolio

maintained steady sales.

The company's third business area, Consumer Health, delivered stable results.

Revenues of Modifast were steady during Q1, whilst Absolut Torr (up 49 per cent

YoY) and ThermaCare (up 8 per cent YoY) experienced strong growth. Eroxon® saw a

9 per cent decrease in revenues, which is explained by a stock build-up in Q1

Operating results (EBIT) for the first quarter of 2025 amounted to NOK 9.1

million, compared to NOK 4.9 million in 2024. Operating costs ended at NOK 40.9

million, compared to NOK 38.3 million last year. Net financial items ended at

negative NOK 11 million and profit before tax was negative NOK 1.8 million.

Outlook

Navamedic continues to see strong growth and new expansion opportunities and

reiterates its mid-term ambition of building a NOK 1 billion revenue company.

"We have had a strong start to 2025. We have several key hero products across

our three business areas, many of which have the potential to succeed

internationally. Part of our work moving forward will be to identify growth

opportunities for these products to support future growth," Andreassen

concluded.

Presentation

Navamedic will present the results for the first quarter of 2025 at 08.30 today.

CEO Kathrine Gamborg Andreassen and CFO Lars Hjarrand will host the

presentation, which will take place at Haakon VIIs gate 2 in Oslo. It will be

webcast at the following link:

https://navamedic.com/investors/financial-results/

Note: EBITDA and other alternative performance measures (APMs) are defined and

reconciled to the IFRS financial statements as a part of the APM section in the

attached presentation.

For further information, please contact:

Kathrine Gamborg Andreassen, CEO, Navamedic

Mobile: +47 951 78 680

E-mail: kathrine@navamedic.com

Lars Hjarrand, CFO, Navamedic

Mobile: +47917 62 842

E-mail: lars.hjarrand@navamedic.com

About Navamedic

Navamedic ASA is a Nordic pharmaceutical company dedicated to enhancing people's

quality of life by being a reliable supplier of high-quality prescription,

consumer health, and hospital products to hospitals and pharmacies. Our growing

product portfolio has been carefully selected to meet current public health

concerns, such as obesity, Parkinson's disease, antibiotics and metabolism, to

empower people to live healthier and more fulfilling lives. What sets us apart

is our deep-rooted commitment to understanding the needs and requirements of the

countries where we are present. Our local insight and competence enable us to

understand the specific needs of each country where we

operate and ultimately to gain market access. This makes us a preferred partner

for international companies expanding their footprint across the Nordics and

Benelux regions, through either in-licensing or out-licensing. Navamedic has

been listed on the Oslo Stock Exchange since 2006 (ticker: NAVA) and is

headquartered in Oslo, Norway.

For more information, please visit Navamedic.com.

This information is subject to the disclosure requirements pursuant to section 5

-12 of the Norwegian Securities Trading Act.