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17 May 2023 07:00
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 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 | ||
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 | ||
Paul McManus / Lianne Applegarth | Mob: +44 (0)7980 541 893 / +44 (0)7584 391 303 | ||
About EKF Diagnostics Holdings plc (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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