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ODI Pharma AB: Publication of half-year report 2023/2024

ODI Pharma AB (“ODI” or the “Company”) hereby publishes its half-year report for the period July – December 2023. The report is available as an attached document to this press release and on the Company’s website (www.odipharma.com). Below is a summary of the report.


Second quarter (2023-10-01 – 2023-12-31)

The Group's net sales amounted to SEK 1,175 (73,276).

The Group's profit after financial items amounted to SEK 946,531 (-1,735,431).

Result per share amounted to SEK 0.06 (-0.11).*


Six months (2023-07-01 – 2023-12-31)

The Group’s net sales amounted to SEK 780,209 (101,282).

The Group’s loss after financial items amounted to SEK -491,846 (-3,419,942).

Result per share amounted to SEK -0.03 (-0.22).*

The solidity as of 2023-12-31 was 28% (81%).**


* The Company’s result per share: The result for the period divided by the number of shares at the end of the period. The total number of shares as of 31st of December 2023, amounted to 15,220,000 (15,220,000) shares. The result per share based on the average number of shares of 15,220,000 (15,220,000) amounts to SEK -0.03 (-0.22) for the first six months 2023-07-01 to 2023-12-31.

** Solidity: Equity divided by total capital.


Highlights during Q2

December – ODI Pharma announced the sale of the skincare brand kandol. to Niclas Kappelin. The transaction, valued at 3.2 million SEK, includes the transfer of all inventories, production materials, trademarks, and copyrights associated with kandol. In connection with the transaction, CEO Derek Simmross and Chairman of the Board Volker Wiederrich will transfer 2,300,000 and 200,000 shares, off market, respectively to the buyer as part of the transaction.

December – ODI Pharma held its Annual General Meeting. A summary of the resolutions is available on ODI Pharma’s website (https://www.odipharma.com/).


Highlights after the end of the period

January – ODI Pharma appointed Pareto Securities as the liquidity guarantor for the Company's shares. Pareto Securities began its assignment on January 19 2024.


Comments by CEO Derek Simmross

As we reflect on the progress made in the second quarter of the fiscal year, we continue to guide ODI Pharma's development with a strategic and thoughtful approach. The dedicated efforts of the past year have laid a solid foundation, enabling us to strategically broaden and strengthen our footprint in the medicinal cannabis sector.

Aligned with our strategic objectives, we are dedicating significant resources to the expansion of our operations. Our decision to extend ODI's reach is informed by a comprehensive understanding of the challenges and opportunities presented by new markets. Our international partnerships underscore our commitment to navigating these new regions with efficiency and effectiveness. This expansion aims not only to enlarge our geographic presence but also to enhance our capability to address market needs and introduce innovative solutions in our principal markets.

In a focused effort to enhance our strategic concentration and optimize resource allocation, ODI Pharma announced the divestiture of the skincare brand kandol. to Niclas Kappelin at the beginning of December. Priced at 3.2 million SEK, the deal includes the transfer of all related inventory, production materials, trademarks, and copyrights, representing a significant shift towards prioritizing our core business of medical cannabis. Consequently, ODI is able to report its first quarterly positive net income since its inception.

This decision, driven by our strategic evaluation, aims to focus on sectors where we can deliver the greatest value and foster sustainable growth. Exiting our cosmetics venture through the sale of kandol. is not only financially advantageous but also underscores our dedication to enhancing our medicinal cannabis operations, especially our Project Poland initiative. The sale of kandol. has resulted in a net income of 946,531 SEK for the quarter, a improvement from -1,735,820 SEK in the same period last year.

We are grateful for the ongoing support and trust from our shareholders and stakeholders. Together, we are charting a path toward a future characterized by strategic growth, operational excellence, and a steadfast dedication to our primary mission.


For more information on ODI Pharma, please contact:

Derek Simmross, CEO, ODI Pharma AB


ODI Pharma AB

ODI Pharma, based on its European network, subsidiaries and affiliates, is a producer and representative of finished pharmaceutical cannabis with a focus on distribution to the medical cannabis market in Europe through its subsidiary ODI Pharma Polska Sp. z o.o. ODI Pharma intends to provide a high-quality product at a competitive price compared to competitors in Poland, thereby becoming the number one provider of medical cannabis in Poland. ODI Pharma also strives to be on the forefront of understanding the medical applications of the product as well as introducing new, innovative products to the European patients in need. The Company will continue to team up with the most knowledgeable and best renown partners in the industry to achieve its goals.



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