Denmark's Stenocare Q2 sales more than doubles on domestic demand
Denmark's Stenocare Q2 sales more than doubles on domestic demand
Overview
Denmark medical cannabis supplier's Q2 net sales rose 133% yr/yr, up 33% from Q1
Company delivered fifth consecutive positive EBITDA quarter
CannGros integration completed; Germany sales slowed by regulatory changes
Outlook
Company says Denmark expected to remain main growth driver, with Germany facing regulatory headwinds
Company sees timing for France market entry as uncertain, continues regulatory preparations
Result Drivers
DENMARK GROWTH - Danish sales, including oil products and CannGros dried flower, drove Q2 revenue increase
GERMANY REGULATORY IMPACT - Regulatory changes in Germany limited patient access and slowed sales development
CANN GROS INTEGRATION - CannGros integration completed without additional resources or infrastructure, with process optimisations implemented
Company press release: ID:nWkr7D3Kr3
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Sales |
| DKK 4 mln |
|
Q2 Loss Per Share |
| DKK 0.01 |
|
Q2 EBITDA |
| DKK 56,000 |
|
Reuters Recommended Reads
Aug 18 - Curaleaf launches $260 million takeover bid for Aurora Cannabis
Aug 19 - Denmark's Lundbeck Q2 revenue rises 7% driven by Vyepti and Rexulti
Aug 20 - Norway's Vistin Pharma Q2 revenue falls on currency impact
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)