Unibo announces early results for 2020 – the capital market

Medical Cannabis Company

Unibo
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Publishes early results for 2020, the first year of its activity, when according to the company’s estimates, revenues will total NIS 33 million. According to the report, revenues in the second half of the year were about 130% higher than those of the first half.

The increase in revenue in the second half is attributed to the expansion of the national distribution in direct marketing to the pharmacies in the country, which led to an increase in sales. According to Unibo, the company maintains profitability (estimates of profits in 2020 have not been released) and also manages to generate revenue beyond the growth rate of the cannabis market. On the other hand, Unibo says that revenue growth will be offset in the fourth quarter of 2020 due to increased cannabis imports to Israel.

Unibo distributes its products to about 138 pharmacies in Israel and directly to the consumer. As early as the second half she completed the establishment of the Amit breeding farm and with the receipt of the breeding and breeding licenses it is currently active along the value chain. Bionibu continues to grow new varieties and maintains contacts for collaborations abroad.

“We estimate that the growth trend will continue in the coming quarters, among other things due to growth in the number of patients, launch of new products, expansion of activities for other companies, self-growth at Amit Farms and expected exit of players from the market,” said Golan Bitton, CEO. “To Unibo.” We believe we will continue to grow at the expense of the weakest players in the industry. “Our possible entry into the field of pharmacies, additional strategic moves, allowing exports and continued growth in the number of patients, will strengthen the company and make us an even more dominant player.”