SenzaGen’s Year-end report 2021: Strong performance with more than 150% growth in H2 and nearly doubled sales for full year

CEO comment

”SenzaGen continues its strong performance and 2021 was a very positive year. We increased sales by 94% during the year, and we more than doubled sales during the second half year, driven by very strong organic growth with new and returning leading global customers and the acquisition of a profitable, growing company. Sales growth will remain our highest priority in 2022 while we continue working on our acquisition agenda, the integration of VitroScreen and completing the OECD Test Guideline process for GARD®skin.”

Peter Nählstedt, President and CEO, SenzaGen AB

Full year 1 January–31 December

  • Net sales totaled SEK 15.4 (8.0) million.
  • The operating loss was SEK -31.5 (-27.1) million.
  • Earnings per share were SEK -1.35 (-1.27).
  • Cash and cash equivalents at 31 December amounted to SEK 69.2 (89.3) million.
  • The board proposes that no dividend be paid to the Company’s shareholders.

Second half year 1 July–31 December

  • Net sales totaled SEK 10.4 (4.1) million.
  • The operating loss was SEK -17.5 (-14.2) million.
  • Earnings per share were SEK -0.78 (-0.67).

Significant events during the second half year

  • Peter Nählstedt was appointed the new CEO.
  • New growth strategy combining organic growth with acquisition activities.
  • Positive ESAC opinion on GARD® paves the way for OECD validation.
  • One of the largest cosmetics companies in the world became a new customer and tested ingredients with GARD®skin Dose-Response for a cumulative value of SEK 1.65 million.
  • One of the largest pharmaceuticals companies in the world became a new customer with an order for GARD®skin totaling SEK 0.7 million.
  • A new global consumer product customer ordered skin allergy and irritation tests for SEK 0.65 million.
  • Collaboration with the US Research Institute for Fragrance Materials (RIFM) was expanded with an SEK 0.6 million grant.
  • SenzaGen acquired Italy-based VitroScreen, which is active in preclinical testing and innovation.
  • SEK 30 million in capital was raised with a directed share issue.

Significant events after the end of the year

  • SenzaGen broadened its non-animal offering for medical devices with more tests and toxicology consulting services, establishing itself deeper in the market and realizing acquisition synergies.

Conference call
SenzaGen is pleased to invite press and investors to a conference call on Friday February 11 at 9.30 CET where President and CEO Peter Nählstedt comments SenzaGen’s 2021 second half year and full year results. The conference call, which will be held in English, will begin with a presentation of the report followed by a Q&A session.

Phone number for the conference
To participate in the conference call, use the dial-in numbers below.

FR: +33170750736
DE: +4969222239166
SE: +46850558352
CH: +41225675632
NE: +31107129163
UK: +443333009031