Presentation

Company Profile
Genovis engages in the development, production and sales of enzymes and antibodies for the growing global pharmaceutical industry that works on developing biological drugs. The company is based in Lund, Sweden and has operations in Europe, North America and Asia. Its enzymes are known as SmartEnzymes and are sold all over the world. The business model is twofold and involves both launching new and unique products and thereby growing the portfolio as well as working with customers to encourage further use of Genovis’ products along the drug development value chain. In April 2020, Genovis acquired QED Bioscience, an established supplier of antibodies based in the US, for a cash consideration of approximately SEK 20m.

Recent highlights
Q2 net sales amounted to SEK 19,5m (11.9), an increase by 37% adjusted for currency effects. The company to be affected by subdued customer activity in its Analytics segment due to Covid-19, as reflected by delayed customer projects and changed priorities in research where its products are used. The operating profit was SEK 2.8m (neg).

Outlook
With the majority of the development projects proceeding according to plan, Genovis is positioned to make additional advances with respect to both new products and sales. The COVID-19 outbreak during the first quarter of 2020 has had a significant impact on the current business climate. Despite the uncertainty about short-term market trends, Genovis’ growth potential for the future remains intact.