Early signs of recovery for struggling cold remedy market
Cold markets continue to be impacted by the pandemic, with increased hand hygiene and social distancing subduing the spread of cold viruses. Consequently, Enzymatica’s Q2’21 net sales came in below our estimate (SEK 6m, -50% vs. ABGSCe) in what is a seasonally small quarter. Naturally, profitability was also impacted, with EBIT at SEK -20m (vs. ABGSCe at -12m). While current market conditions are tough, there are positive data points coming out of Australia, which is entering its cold season and is seeing early signs of the season being closer to pre-pandemic levels. As COVID-19 vaccination programmes progress, management anticipates a recovery towards the more important Q4’21.
LÄS MER
