Fourth quarter (2024-04-01 – 2024-06-30)

The Group's net sales amounted to SEK 7,544,320 (38,418).

The Group's profit after financial items amounted to SEK -1,111,243 (-1,896,506).

Result per share amounted to SEK -0,08 (-0.12).*

Fiscal year (2023-07-01 – 2024-06-30)

The Group’s net sales amounted to SEK 22,447,125 (139,457).

The Group’s profit after financial items amounted to SEK 544,560 (-6,895,119).

Result per share amounted to SEK 0,02 (-0.45).*

The solidity as of 2024-06-30 was 18% (31%).**

* The Company’s result per share: The result for the period divided by the number of shares at the end of the period. The total number of shares as of 30tht of June 2024, amounted to 15,220,000 (15,220,000) shares. The result per share based on the average number of shares of 15,220,000 (15,220,000) amounts to SEK 0.02 (-0.45) for the twelve months 2023-07-01 to 2024-06-30.

** Solidity: Equity divided by total capital.

Highlights during the fourth quarter

• May – ODI Pharma announced that the preliminary financial results for the third quarter of fiscal year 2023/2024 are expected to surpass current market expectations. Initial figures for this period indicate that revenues will exceed SEK 13.5 million. This growth mainly comes from an increase in orders following our strategic partnership in Eastern Europe.
• June – ODI Pharma announced the first delivery of cannabis products to the leading medical cannabis provider in Switzerland. The delivery marks a symbolic milestone in ODI's market expansion efforts as it is the first delivery to the Swiss market. The delivery, which is facilitated through ODI's Swiss subsidiary, is less significant in terms of economic value but more important from a strategic point of view.

Comments by Chairman Volker Wiederrich:

“As we conclude the fourth quarter and the fiscal year ending June 2024, I am satisfied to look back on the year which ODI Pharma has had. This year has been pivotal for our company, marked by strategic initiatives, key partnerships, and notable expansions—all of which have laid a strong foundation for sustained growth in the coming years.

In the fourth quarter, we delivered our first cannabis products to a major Swiss medical cannabis supplier, marking a significant milestone. It represents our entry into the Swiss market and is part of our overall European growth strategy. This order was of strategic importance in the sense that it demonstrated our commitment to geographic growth and adjusting to different market conditions. Through our Swiss subsidiary, this delivery was made possible and demonstrated readiness to exploit the emerging opportunities throughout Europe.

 

Finally, we expanded our position in the Eastern European medical cannabis market. With Poland beginning to be a successful entry to Europe, we are actively seeking more European markets as well to diversify our footprint there. Our approach has been cautious yet proactive, intended to establish ODI Pharma as a key player in the evolving European medical cannabis landscape.

The fourth quarter results remained robust, with revenues reaching 7.5 million SEK. Similar to the previous quarter, additional product deliveries were made in the second quarter and was mainly driven by our ongoing collaboration with Synoptis Pharma. When we summarize the whole fiscal year, we see a considerable revenue increase, amounting to 25,4 million SEK, compared to 178 702 SEK the previous year. The total income for the entire fiscal year amounted to 355,971 SEK, which is an impressive outcome to close the year and a solid basis for future growth. In summary, Overall, our business has become stronger, and we are continuing to improve our financial position.

Looking back over this entire fiscal year, ODI Pharma has made very prominent steps forward in stabilizing our position within the medical cannabis industry. One of the largest steps was that we signed up with an exclusive supply agreement with Synoptis Pharma, a subsidiary of the NEUCA Group— Eastern Europe's biggest pharmaceutical company. This cooperation not only consolidated our position in Poland but also gave us access to 23 countries in Eastern and Southeastern Europe, including the Czech Republic, Ukraine, and Croatia. This partnership has been one of the cornerstones of our growth strategy and has driven major revenues and market presence.

Further, we took the strategic decision to divest our Skincare brand kandol. for SEK 3.2 million in December 2023. It provides us with an opportunity for the accurate structuring of our core business around medicinal cannabis without wastage of resources and expertise on other businesses that are not aligned with our strategic goals in the long term.

Looking ahead, we remain focused on building our presence in both existing and new markets and on bringing continuous value creation for our shareholders and stakeholders. The evolving European regulatory landscape, combined with rising demand for medicinal cannabis, is opening up great opportunities for ODI Pharma. We will apply our strategic partnerships, market expertise, and capabilities to capture growth opportunities and drive our long-term, sustainable growth strategy.

Thank you for your trust and confidence in ODI Pharma. Together, we will continue to drive growth, innovation, and value creation in the years to come.”

 

 

For more information on ODI Pharma, please contact:

Volker Wiederrich, Chairman, ODI Pharma AB

E-mail: info@odipharma.com  

 

 

 

 

 

ODI Pharma AB

ODI Pharma, based on its European network, subsidiaries and affiliates, is a producer and representative of finished pharmaceutical cannabis products with a focus on distribution to the medical cannabis market in Europe through its subsidiary ODI Pharma Polska Sp. z o.o. ODI Pharma intends to provide a high-quality product at a competitive price compared to competitors in Poland, thereby becoming the number one provider of medical cannabis in Poland. ODI Pharma also strives to be on the forefront of understanding the medical applications of the product as well as introducing new, innovative products to the European patients in need. The Company will continue to team up with the most knowledgeable and best renown partners in the industry to achieve its goals.