Elixinol Global (ASX: EXL) (OTC: ELLXF) filed preliminary financials for 2018, its first full year as a public company,and shared an investor presentation today. The Australian company reported sales of A$37.1 million (about US$26 million) for the full year, up 121% from pro forma sales in 2017. It also generated underlying EBITDA of A$0.7 million.
The company operates three businesses, including Nunyara, which is seeking a medical cannabis license in Australia, Hemp Foods Australia and Elixinol, which sells CBD products derived from industrial hemp. Elixinol accounted for 87% of sales and grew 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 capacity and is introducing additional products.
Meetings with large national outlets have indicated that support from the FDA and United Nations will be the next major catalyst for industry growth in both the hemp and cannabis sectors leading to consumer awareness creating demand.
Paul Benhaim, CEO
The company, which priced a secondary offering in the 4th quarter, ended 2018 with A$42.9 million cash on the balance sheet.
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