REG - EKF Diagnostics Hldg - AGM Statement

EKF Diagnostics HoldingsAnnouncement

17/05/2023 07:00

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RNS Number : 6285Z  EKF Diagnostics Holdings PLC  17 May 2023

EKF Diagnostics Holdings plc

("EKF" or the "Company")

 

AGM Statement

 

EKF Diagnostics Holdings plc (AIM: EKF), the AIM-listed global diagnostics
business, provides an update to shareholders ahead of its Annual General
Meeting ('AGM') today at 6 Stratton Street, Mayfair, London W1J 8LD at 10.30
a.m.

 

The Company is providing a facility for shareholders to listen in to the AGM,
either online or telephonically (in a non-voting capacity) and investor
questions will be addressed afterwards, as previously announced. For dial-in
details please contact Walbrook PR via email at ekf@walbrookpr.com
(mailto:ekf@walbrookpr.com) or call +44 (0)20 7933 8780.

 

Executive Chair's AGM statement

We were pleased to announce an encouraging set of financial results for 2022,
with revenues in line with market expectations, driven by strong growth in our
established Point of Care and Life Sciences businesses. The results also
provided an update on the progress of the Life Sciences fermentation
investment, which remains an exciting opportunity to deliver rapid scaling of
operational volume and with the potential for significant revenue growth
beyond current conservative guidance.

 

To that end, we were very pleased to announce the successful completion of the
quality management audits for our enzyme fermentation sites in Indiana, and
that we remain on track for operational activity from the new fermenters this
summer, as well as the completion of validation for our largest fermenter by
the end of Q3 2023. It's worth repeating part of the announcement made at the
time: "Developing our quality assurance as we increase our capacity is key to
the successful scale-up of these operations and I'm delighted that we remain
on track."

 

Trading in the first quarter of 2023 has been in-line with the Board
expectations, and with the expected contribution from our expanded Life
Sciences capacity coming online over the second half of the year, we naturally
expect our overall financial performance to be more H2-weighted than
historically. Continued growth from our 'razor, razor blade' consumable model
in Point of Care is also expected to contribute to that positive momentum as
we progress through the financial year.

 

 

 

 EKF Diagnostics Holdings plc                                 www.ekfdiagnostics.com (http://www.ekfdiagnostics.com)
 Julian Baines, Executive Chair / Marc Davies, CFO             Tel: +44 (0)29 2071 0570

 Singer Capital Markets (Nominated Adviser & Broker)                                        Tel: +44 (0)20 7496 3000
 Aubrey Powell / George Tzimas / Oliver Platts

 Walbrook PR Limited               Tel: +44 (0)20 7933 8780 or ekf@walbrookpr.com (mailto:ekf@walbrookpr.com)
 Paul McManus / Lianne Applegarth  Mob: +44 (0)7980 541 893 / +44 (0)7584 391 303

 

About EKF Diagnostics Holdings plc (www.ekfdiagnostics.com
(http://www.ekfdiagnostics.com) )

 

EKF is an AIM-listed global diagnostics business focussed on:

 

·    Point-of-Care analysers in the key areas of Hematology and Diabetes,
as well as Central Laboratory products including clinical chemistry reagents,
analysers and centrifuges

 

·    Life Sciences services provide specialist manufacture of enzymes and
custom products for use in diagnostic food and industrial applications, as
well as other higher value Contract Manufacturing services

 

EKF has headquarters in Penarth (near Cardiff) and operates five manufacturing
sites across the US and Germany, selling into over 120 countries world-wide.

 

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