Eevia Health Plc Interim Report Q4 - 2022

Eevia Health Plc ("Eevia" or "The Company") is releasing its quarterly financial report for the fourth quarter of 2022.

Summary of the fourth quarter 2022 (Q4-22):

  • Net sales[1] grew by 115% from KEUR 658 in Q4-21 to KEUR 1 420 in Q4-22. Excluding one-off charges of KEUR 143 in Q4-21, net sales increased by 77%, from KEUR 800 in Q4-21 to KEUR 1 418 in Q4-22.
  • The gross profit in Q4-22 came in at KEUR 966, an improvement of 575% from KEUR 168 in Q4-21. The gross profit constitutes a gross margin[2] of 68%, a significant improvement over Q4-21 (21%) and Q3-22 (63%). The improvement is a continuation of the positive trend since Q3-22. The development underlines the significant improvements made in production yields and efficiency during the year and the stability in production Eevia is now experiencing.
  • While the production process has stabilized at an improved level, Eevia benefited from a favorable high-margin product mix in the fourth quarter, including certain contract manufacturing projects invoiced at 100% margin. Furthermore, Eevia has started valorizing several production side streams containing fruit sugars and fibers. This creates new value from divergent product structures[3]. If successful with these valorizations, Eevia would be able to produce high-volume outputs of these new products. However, the new approach will require business development and penetration of new markets, with no certainty of success. The gross margin without the effect from side-stream products was approaching 55% in Q4-22 (37% in Q3-22).
  • EBITDA in Q4-22 was positive at KEUR 17. Compared to a KEUR -811 negative EBITDA in Q4-21, the Company improved with KEUR 826. The EBITDA was KEUR 56 in Q3-22. The reduction in EBITDA from Q3 to Q4-22 stems mostly from increases in personnel costs and other operating expenses, due to higher marketing activities, trade show participation, and some one-off marketing costs related to the preferential rights issue in the quarter. These non-recurring costs amounted to c. KEUR 40.
  • The net result for Q4-22 was negative with KEUR -512, an improvement of KEUR 518 compared to Q4-21 (KEUR -1 030).
  • The net result in Q4-22 was, in addition to the non-recurring marketing costs above, impacted by financing costs related to the preferential rights issue in November 2022, such as commission, underwriting fees, and issuing costs. These non-recurring financial costs amounted to a total of KEUR 280 during the quarter.
  • Cash flow from operations was KEUR -929 in Q4-22, mainly due to significant build-up of inventory of which the majority will be sold in Q1-23. This was an improvement of KEUR 538 compared to the operating cash flow of KEUR 1 467 in Q4-22, and KEUR 187 compared to the cash flow of KEUR -280 in Q3-22.
  • The company completed a fully subscribed rights issue in Q4-22, raising MSEK 21.6 to fund working capital for continued growth and organizational development. The funds raised to puts the company in a better position to execute its ambitious growth plans into 2023.

[1] Sales revenues excluding trading revenues

[2] Gross profit in % of net sales

[3] Divergent product structures = Multiple sellable products from the same raw material

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 according to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on February 24, 2023.


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 EEVIA.

To learn more, please visit 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.



Kurs ()
Förändring ()
Marknad Spotlight stock market Kortnamn EEVIA ISIN-kod FI4000496658


Stein Ulve IR-kontakt [email protected]