CBD Business

CBD Business Drives 121% Elixinol 2018 Sales Growth – New Cannabis Ventures


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:

elixinol usa 2018 CBD Business Drives 121% Elixinol 2018 Sales Growth – New Cannabis Ventures

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 benhaim elixinol ceo CBD Business Drives 121% Elixinol 2018 Sales Growth – New Cannabis VenturesPaul 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.

420investor members only CBD Business Drives 121% Elixinol 2018 Sales Growth – New Cannabis VenturesGet ahead of the crowd by signing up for 420 Investor, the largest and most comprehensive subscription service for cannabis traders and investors since 2013.

Posted by Alan Brochstein, CFA

Alan Brochstein, CFA

Based in Houston, Allen used his experience as the founder of the 420 Investor online community, the first and still largest due diligence platform focused on publicly traded stocks in the cannabis industry. With his extensive network in the cannabis community, Allen continues to find new ways to connect the industry and facilitate its sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Before shifting his focus to the cannabis industry in early 2013, Allen, who began his career on Wall Street in 1986, worked as an independent research analyst after more than two decades in research and portfolio management. A prolific writer with more than 650 articles published since 2007 in Seeking Alpha, where he has 70,000 followers, Allen is a frequent speaker at industry conferences and a frequent source in the media, including the NY Times, Wall Street Journal, Fox Business, and television. Bloomberg. Contact Alan: Twitter | Facebook | LinkedIn | Email

Get our Sunday newsletter









Source link

Related Articles

Leave a Reply

Your email address will not be published.

Back to top button