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Navamedic ASA : Q1 2016 Results

(Oslo, 11 May 2016)
Navamedic ASA (OSE: NAVA) reported revenues of NOK 60.8 million (61.8) in the
first quarter of 2016, and a positive EBITDA of NOK 2.1 million (4.1). The
company targets annual revenues of NOK 15-25 million from the Medtech
Business area in 2018.

"Navamedic had a satisfactory first quarter, with gross margin improvement and
underlying revenue growth of 16% in our Nordic distribution business, as well
as delivery on key milestones with regards to the development and
commercialisation of Sippi, our advanced digital urine volume measurement
system," says Tom Rönnlund, Chief Executive Officer of Navamedic.

Revenues in the first quarter 2016 ended at NOK 60.8 million (61.8), with an
EBITDA of NOK 2.1 million (4.1). The Q1 2016 revenue decline is mainly due to
the loss of revenues from the Benelux region, while EBITDA in the quarter was
affected by the business development activities and ongoing commercialisation
of Sippi®.

Navamedic's development and commercialisation of Sippi® made important steps
forward in the quarter, including the launch of wireless communication
capabilities that allow transfer of data from Sippi® to a Patient Data
Monitoring System (PDMS), and the signing of an agreement with Pennine
Healthcare for distribution in the UK, Ireland, and Northern Ireland.

"Sippi is now in initial introduction phase in ten European markets, and we
continue to evaluate new partners for further expansion. Although development
and commercialisation will take time, Navamedic expects its medtech business
to represent a major future opportunity for the company, with revenues in the
range of NOK 15-25 million in 2018, provided successful entry of Sippi in
targeted markets," says Rönnlund.

In the Pharma and Healthcare business area, Navamedic continues to broaden its
portfolio of partnerships and products. During Q1 2016, the company expanded
its cooperation with Pohl-Boskamp for distribution of Nitrolingual® pumpspray
in the Nordic markets.

"Navamedic continues to work on additional launches for the coming year that,
coupled with the inflow of new products in 2016, will help drive future
growth," says Rönnlund.

For further information, please contact:

Tom Rönnlund, CEO, Navamedic. Telephone +46 727 320 321.

Navamedic ASA is a Norwegian medtech and pharmaceutical products company,
delivering products to patients, hospitals and pharmacies in the Nordic and
Benelux markets. The Group's Medtech business has developed and is currently
introducing the next generation of digital urine meter Sippi®. Navamedic's
Pharma and Healthcare business is a distributor of products supplied by a
number of pharmaceutical manufacturers. Navamedic is listed on the Oslo Stock
Exchange (ticker: NAVA).

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Navamedic ASA 2016 Q1 Report
Navamedic ASA 2016 Q1 Presentation


This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Navamedic ASA via Globenewswire


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