Cantourage Group SE continues profitable growth course in first half of 2023 – Biotech Investments

Cantourage Group SE continues profitable growth course in first half of 2023

• Sales of EUR 11.1 million* in first half of 2023 around 90 percent up on same period of the previous year
• EBITDA after the first quarter of 2023 also positive in first half of 2023
• Sales growth in fiscal year 2023 expected to be in the higher double-digit percentage range compared to the previous year and a break-even result at EBITDA level
• Examining various financing options including capital market financing to support further growth

Berlin, July 20, 2023 – Cantourage Group SE (hereinafter “Cantourage,” ISIN: DE000A3DSV01), a leading European company for the production and distribution of cannabis-based pharmaceuticals, generated sales of approximately EUR 11.1 million* in the first half of 2023 representing growth of approximately 90% compared to the same period of the previous year (H1 2022: EUR 5.8 million*). Following first-time profitable growth in the first quarter of 2023, this was also achieved in the first half of 2023 with a cumulative EBITDA of EUR 0.2 million*.

“Our strong and profitable growth in the first half of fiscal year 2023 underscores the performance of our business model. For fiscal year 2023 as a whole, we expect sales growth to be in the higher double-digit percentage range compared to the previous year. At the same time, we are aiming to remain operationally profitable. In order to further support our future growth, we are also currently reviewing various financing options including capital market financing,” said Bernd Fischer, CFO of Cantourage.

“The current changes in our market environment offer opportunities for companies that are quick to adapt and innovate. For example, the draft legislation recently presented by the German Federal Ministry of Health, which, among other measures, would remove the classification of medical cannabis as a narcotic, could make it much easier access to medical cannabis and strengthen our market position. Thanks to our expertise in the production of high-quality medical cannabis products, we are well prepared to benefit from such market developments,” added Philip Schetter, CEO of Cantourage.

* The stated values refer to an unaudited pro forma consolidation of the operating subsidiaries as if they had already been acquired on 1 January of a year.

About Cantourage
Cantourage is a leading European producer and distributor of cannabis-based medicinal preparations and drugs. The Berlin-based company was founded in 2019 by industry pioneers Norman Ruchholtz, Dr. Florian Holzapfel and Patrick Hoffmann. With an experienced management team and its “Fast Track Access” platform, Cantourage enables producers from around the world to become part of the growing European medical cannabis market faster, easier and more cost-effectively by processing and distributing their cannabis raw materials and extracts. In this context, Cantourage ensures compliance with the highest European pharmaceutical quality standards at all times. The company offers pharmaceutical-grade products in all relevant market segments: dried flower, extracts, dronabinol and cannabidiol. Cantourage was listed on the Frankfurt Stock Exchange on November 11, 2022 and is listed under ticker symbol “HIGH”.

More information: www.cantourage.com 

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Press contact Cantourage:
Frederick Steudemann
M +49 (0)30 4701 350-50
pr@cantourage.com