Navamedic ASA: Financial report for the 2nd quarter and first half of 2025

OSLO, Norway, Aug. 14, 2025 /PRNewswire/ -- In the first half 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, delivered revenues of NOK 269.3 million, down from NOK 277.2 million in 2024. Excluding the milestone license fee from Orion corporation of NOK 22.7 million in 2024, revenues grew by 5.8 per cent YoY, gross margin improved to 37.3 per cent, compared to 37.0 per cent in Q2 2024 and EBITDA amounted to NOK 22.9 million compared to EBITDA of NOK 18.4 million in 2024.

The performance was primarily driven by the Hospital area, particularly the antibiotics portfolio. Recent tender wins have driven sales growth for the antibiotics portfolio, which is up 48.4% YoY.

"Having invested in various strategic growth initiatives over the last year, we are encouraged by the results in the second quarter of 2025. Excluding the Orion license fee last year, the 5.8 per cent revenue growth was positively impacted by Nordic tender wins for our antibiotics portfolio. Furthermore, several products, including Imdur® from our Prescription Drugs (RX) segment, have shown strong performance this quarter," said Kathrine Gamborg Andreassen, CEO of Navamedic.

"We are also pleased to announce approval of the medical device OraFID® as primary package for Flexilev®, our medical treatment for Parkinson disease, enabling personalized, fine-tuned treatment with minitablets," she added.

Business area update and Q2 key figures 

During the second quarter, the Hospital (up 23.5 per cent YoY) business area delivered strong growth. Prescription Drugs and Consumer Health were down 2.8 and 3.5 per cent YoY respectively in the period.

As part of the Prescription Drugs (RX) area, revenues of Imdur® delivered strong revenues in the period and is up 101.0% YoY. Flexilev®, the company's unique treatment for Parkinson's disease, delivered sales growth of 4.8 per cent YoY. Mysimba® revenues were lower than last year by 12% YTD, while variable between the quarters (-26.6% YoY).

For the Hospital area, recent tender wins drove sales growth in the antibiotics portfolio, which is up 48.4 per cent YoY, whilst the Medical Nutrition portfolio showed 3.3.% growth.

The company's third business area, Consumer Health, delivered mixed results (-3.5%). Revenues of Modifast were slightly down (-1.1%), whilst Eroxon® saw a 10.7 per cent increase in revenues.

Operating results (EBIT) for the second quarter of 2025 amounted to NOK 6.3 million, compared to NOK 6.2 million in 2024, excluding milestone license fee. Operating costs ended at NOK 41.1 million, compared to NOK 39.4 million last year. Net financial items ended at negative NOK 8.1 million and profit before tax was negative NOK 1.5 million.

Outlook

Navamedic continues to see growth and new expansion opportunities and reiterates its mid-term ambition of building a NOK 1 billion revenue company.

"The past six months have been marked by execution across multiple fronts, from product and company acquisitions to successful launches and impactful marketing initiatives. Several initiatives, such as the dne pharma acquisition, will take time to translate into our growth results but with a solid foundation and continued operational progress, we are well-positioned to realize our ambition of reaching NOK 1 billion in revenue," Andreassen concluded.

Presentation

Navamedic will present the results for the second 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: +47 917 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.

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