- Materia Malta sold its first production run within two weeks, months ahead of forecast
- Group level revenues continued to grow, with Q4 revenues increasing +48% over Q3*
LONDON, January 18, 2022 – Materia (“Materia” or the “Company”) is pleased to share an update on the company’s recent operational performance, including the success of its recently launched brand into the European market.
As previously announced on December 16, 2021, Materia Malta Operating Ltd. (“Materia Malta”) began sales of the first medical cannabis manufactured at its EU GMP certified production site.
This first product, launched under the Materia brand, enjoyed a strong market response. The Company is pleased to report that the entire first production run’s volume was purchased within the first two weeks of sales commencing, with its distribution partners returning to replenish inventory on multiple occasions.
This marks a successful quarter of performance for Materia, with Materia Deutschland GmbH continuing to expand its distribution network and achieving its strongest quarter of pharmacy sales for the year. At a group level, Materia’s Q4 sales grew +48% over Q3, an acceleration of previous revenue growth.*
Looking ahead, the Company anticipates the achievement of more operational milestones in 2022, including the first sale into Germany of medical cannabis manufactured by Materia Malta. The Company is also targeting other important European markets such as the United Kingdom, as well as broadening its portfolio to include new formats such as cannabis extracts.
*Based on unaudited financial records for 2021.
About Materia
Materia is a leading independent processor and distributor of medical cannabis and CBD wellness products. Materia has developed a robust EU-GMP manufacturing and distribution ecosystem to grow the legal cannabinoid market across Europe. With its research-driven team and regulatory expertise, Materia focuses on the high-margin downstream activities of processing, formulation and distribution into markets wherever there is a patient in need of cannabis medicine or CBD consumers seeking innovative new products.
For further information, please contact:
Deepak Anand, CEO
Email: investors@materiaventures.com
Website: http://www.materia.global/