Fourth quarter and full year 2022 report

16 Feb 2023 08:00 CET

Moss, 16 February 2023

Gentian Diagnostics ASA, a fast-growing developer and manufacturer of diagnostic
tests, today announced its results for the fourth quarter and full year 2022.

Highlights
• Sales of MNOK 27.9 in Q4 22, up 28% (23% organic growth) from 4Q21
• Full-year sales revenue increased 22% to MNOK 101.6 (21% organic growth) in
line with the company’s long-term growth target
• EBITDA was MNOK -1.5 in 4Q22. EBITDA for the full year was MNOK -13.0.
• Patent related to NT-proBNP granted in the US and progress on assay
development continued.
• Four strategic distribution agreements with major global IVD companies
achieved in 2022, including one announced in 4Q for GCAL

“Even in uncertain times, the global demand for diagnostics continues to be
robust and for the fifth consecutive year Gentian delivers sales revenue growth
above 20%. While the company is now free cash flow positive pre R&D, we will
continue to invest in profitable growth. This to maximise the potential of our
established products and the ones in market development, while also bringing new
high-impact diagnostic tests to market,” says CEO Hilja Ibert of Gentian
Diagnostics.

Gentian converts existing biomarkers to the most efficient automated,
high-throughput analysers, which contributes to saving costs and protecting
life. The company’s go-to-market strategy has been proven through successful and
long-lasting partnerships with globally leading IVD companies such as Beckman
Coulter and Roche through Bühlmann Laboratories.

“In 2022 we entered into four partnerships with leading IVD companies, including
a contract for GCAL with Siemens Healthineers which has been off to a good
start. In Q4, we added another undisclosed partner for international roll-out of
this product. In 2023, we plan for continued sales growth enabled by additional
proof of clinical evidence, endorsements from key opinion leaders, regulatory
approvals and development of existing and new partnerships,” says Ms Ibert.


Webcast
Gentian’s CEO Hilja Ibert and CFO Njaal Kind will present the results today at
10:00 CET, followed by a Q&A session. Join the webcast and submit questions via
the following link:

https://attendee.gotowebinar.com/register/6415726643434678875

The webcast will be available on the company’s IR website after the
presentation.


IR contact:

Njaal Kind, CFO and COO
njaal.kind@gentian.no
+47 919 06 525 (mobile)

This information is considered to be inside information pursuant to the EU
Market Abuse Regulation and is subject to the disclosure requirements pursuant
to Section 5-12 in the Norwegian Securities Trading Act.

This stock exchange announcement was published by Njaal Kind, CFO at Gentian
Diagnostics ASA, on 16 February 2023 at 08:00 CET.


About Gentian
Gentian Diagnostics (OSE: GENT), founded in 2001, develops and manufactures
high-quality, in vitro diagnostic reagents. Gentian’s expertise and focus lies
within immunochemistry, specifically infections, inflammations, kidney failures
and congestive heart failures. By converting existing and clinically relevant
biomarkers to the most efficient automated, high-throughput analysers, the
company contributes to saving costs and protecting life. Gentian is based in
Moss, Norway, serving the global human and veterinary diagnostics markets
through sales and representative offices in Sweden, USA and China. For more
information, please visit www.gentian.com.

More information:
Access the news on Oslo Bors NewsWeb site

582619_GDASA Interim report 4Q 22.pdf
582619_GDASA Q4 22 presentation.pdf