Financial Statements and Annual report for fiscal year 2022
Eevia Health Plc, ("Eevia" or "The Company"), has today released its statutory financial statements and annual report for the year 2022. The report contains some adjustments compared to Interim report Q4-23.
Following the annual audit, certain adjustments have been made in comparison to the interim report for Q4-22. The interim report contained a note that kEUR 142 in foreign exchange losses, primarily related to 2021 would be restated in the 2021 accounts. However, after careful consideration, the process of restatement is more complex and costly than expected and would also require restatement of tax filings. Hence, it has since been decided to leave the kEUR 142 as financial cost in the 2022 statements. Following a constructive dialogue with the auditor, certain additional adjustments were made to the accounts, more specifically related to (i) revenues, due to foreign exchange losses on receivables; (ii) reduction of personnel cost due to adjustment of holiday accrual; and (iii) a reduction of cost of goods sold.
The final audited figures resulted in a net loss for the Company for 2022 of mEUR 2.0 vs. mEUR 1.8 as presented in the Q4-22 report.
For further information, please contact:
Stein Ulve, CEO, Eevia Health Plc
Email: [email protected]
Telephone: +358 400 22 5967
INFORMATION ABOUT EEVIA HEALTH PLC
Eevia Health Plc, founded in March 2017, addresses significant health problems with bioactive compounds extracted from plant materials. The materials are primarily wild harvested from the pristine Finnish and Swedish forests near or above the Arctic Circle. The extracts are sold B2B as ingredients in dietary supplements and food brands globally. These global brands utilize the ingredients in their consumer product formulas.
Eevia Health is a manufacturer of 100% organically certified plant extracts. Although a significant product, Elderberry extract, is made from cultivated berries, most of Eevia's other raw materials, such as bilberry, lingonberry, chaga-mushroom, and pine bark, are wild-harvested in a sustainable fashion.
Eevia Health operates a modern green-chemistry production facility in Finland. Manufacturing natural ingredients near the raw material harvest areas, Eevia offers a short value chain with an environmentally friendly carbon footprint, competitive pricing, and extreme transparency. Eevia listed its shares at Spotlight Stock Market in Sweden in June 2021, with the short name (ticker) EEVIA.
To learn more, please visit www.eeviahealth.com or follow Eevia Health on LinkedIn@EeviaHealth
Om Eevia Health
Eevia Health targets health problems with bioactive extracts from plant material. The human body has an incredible ability to restore good health. However, sometimes the body needs active support. Our mission is to support good health and well-being with plant extracts which have scientifically documented health benefits. Eevia Health manufactures and markets organic ingredients from abundant plant material in the Arctic. Our products are targeted against low-grade inflammation, problems in eye and brain health, and metabolic effects. We collaborate with scientists in Finland and abroad to scientifically substantiate the positive effects of ingredients and also to document the safety of use.
