CORRECTION Sales orders totaling c. 23.8 MSEK/2.1 MEUR received by Eevia Health Plc
Due to a language setting choice in our Cision News portal with both English and Finnish chosen in the original press release, the press release did not go out automatically on all channels at the same time. To ensure the release is available on all channels, we re-release the press release. There are no changes to the substance of the release.
Eevia Health Plc, ("Eevia" or "The Company"), received several new sales orders totaling c. 23.8 MSEK / 2.1 MEUR from an International nutraceutical brand owner for an extract ingredient with immune health properties.
Eevia, a leading health ingredient manufacturer from Finland, received a series of orders for the manufacturing and sale of a berry extract with immune health properties. The customer is a key international customer and an internationally recognized brand leader in the marketplace with a global footprint. The group sold for over USD 1.2 billion globally in 2022. It offers over 500 premium dietary supplements, including single herbs, vitamins, minerals, and specialty formulas sold under the Company's well-recognized brands, in over 60 countries.
The sales orders are part of a Sales Agreement (frame agreement). Eevia communicated the agreement publicly in 2021. The volume of the sales orders is in-line with expectations, but these are new orders within the frame agreement and have not specifically been communicated earlier. The new sales orders belong to a new section (order period) of the frame agreement which contains different prices and terms than in the earlier sections. The volumes will be produced and delivered within a shorter time than originally expected. Eevia has all the materials required for the orders in stock. The delivery and invoicing are planned to take place during Q2-2023.
Eevia is headquartered in Seinäjoki, Finland. As of the end of the first quarter of 2023, the Company had 26 full-time employees. The total revenue for the full year ended December 31st, 2022, was c. 5.8. MEUR. Eevia specializes in bioactive polyphenols extracted from plants, mainly arctic and sub-arctic berries wild harvested in Sweden and Finland. The extracts are sold B2B globally as ingredients for health products.
CEO Stein Ulve comments: "We are pleased to receive these sales orders for this polyphenol extract for deliveries in the next three months. It creates an expectation for strong performance in Q2-2023. Since the materials are in stock, we expect to significantly reduce inventories and improve cash flow during the quarter."
For further information, please contact:
Stein Ulve, CEO, Eevia Health Plc
Email: [email protected]
Telephone: +358 400 22 5967
This disclosure contains information that EEVIA HEALTH PLC is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on April 17, 2023.
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 sustainably.
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 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.