Business
Final Results
Final Results.
About this update from Venture Life Group Plc
[{"type":"text","content":"\n \n \n 17 May 2022\n \n \n \n \n \n \n \n \n VENTURE LIFE GROUP PLC\n \n \n \n \n \n \n \n \n (\"Venture Life\", \"VLG\" or the \"Group\")\n \n \n \n \n \n \n \n \n Final Results\n \n \n \n \n \n \n \n \n Venture Life (AIM: VLG), a leader in developing, manufacturing and commercialising products for the international self-care market, announces its audited results for the year ended 31 December 2021.\n \n \n \n \n \n \n Financial Highlights\n \n \n \n \n \n \n \n \n ·\n Revenues + 9% to £32.8 million (2020: £30.1 million) or +11% on a constant currency basis\n \n \n ·\n Gross margin £13.0 million (2020: £12.8 million), gross margin percentage 39.6% (2020: 42.7%)\n \n \n ·\n Adjusted EBITDA[1] +8% to £6.6million (2020: £6.1 million)\n \n \n ·\n H2 revenues +36% to £18.9 million compared to H1 revenues\n \n \n ·\n H2 adjusted EBITDA1 147% to £4.7 million compared to H1 adjusted EBITDA1\n \n \n ·\n Profit before tax, amortisation and exceptional items £4.6 million (2020: £4.4 million)\n \n \n ·\n Profit after tax stayed flat year on year at £2.4 million (2020: £2.4 million)\n \n \n ·\n Adjusted earnings per share[2] 4.94p (2020: 4.46p)\n \n \n ·\n Operating cash flow before movements in working capital £5.1 million (2020: £6.7 million)\n \n \n ·\n Cash at 31 December 2021 £5.2 million (2020: £42.1 million)\n \n \n \n \n \n \n \n \n Commercial Highlights\n \n \n \n \n \n \n \n \n Group\n \n \n ·\n Two immediately earnings enhancing acquisitions, now integrated and fully deploying funds raised in late 2020\n \n \n ·\n Revolving Credit Facility (RCF) in place for up to £50 million, giving significant firepower for further earnings accretive M&A\n \n \n ·\n Extended agreement with Bayer Consumer Care AG for BV gel and BV pessary, a range of women's intimate healthcare products\n \n \n ·\n 11 new long-term distributions agreements signed\n \n \n ·\n 18 in-market product launches through our international partners\n \n \n ·\n 7 approved product registrations, with 12 on-going\n \n \n \n \n \n Acquisition of BBI Healthcare Limited, 4 June 2021:\n \n \n ·\n Three new brands and two new therapy areas: women's health and diabetes management\n \n \n ·\n Significant partner acquired in women's health - Bayer Consumer Care AG ('Bayer') \n \n \n ·\n Immediate cost synergies ...