Elixinol Global (ASX: EXL) (OTC: ELLXF) submitted preliminary financial statements for 2018, its first full year as a public company, and today shared a presentation to investors. The Australian company reported sales of A $ 37.1 million (approximately $ 26 million) for the full year, an increase of 121% from pro forma sales in 2017. It also generated a core EBITDA of A $ 0.7 million.
The company runs three businesses, including Nunyara, which is seeking medical cannabis licenses in Australia, Hemp Foods Australia and Elixinol, which sells CBD products derived from industrial hemp. Elixinol accounted for 87% of sales and grew by 141% in 2018, with private label sales leading the way, with 359% growth:
The company hosted a conference call, expressing confidence in its ability to continue strong growth in 2019. In the United States, it has more than doubled its capacity and is introducing additional products.
Meetings with major national agencies have shown that support from the FDA and the UN will be the next major catalyst for industrial growth in both the hemp and cannabis sectors, raising consumer awareness and creating demand.
Paul Benheim, CEO
The company, which estimated secondary supply in the 4th quarter, ended 2018 with 42.9 million Australian dollars in cash on the balance sheet.
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