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Berlin, 12 April 2023 – Cantourage Group SE (hereafter “Cantourage”, ISIN: DE000A3DSV01), a leading European producer and distributer of cannabis-based medicinal products, generated revenues of approximately EUR 14 million* in the 2022 fiscal year (2021: EUR 5.2 million), on the basis of preliminary and unaudited figures. Furthermore, also based on preliminary figures, Cantourage increased revenues in Q1 2023 by more than 95 % year-on-year. The company also considers itself well positioned for the full 2023 year.
The dronabinol and cannabis flower businesses are the key growth drivers. The dronabinol solution that Cantourage developed has been very well received by pharmacists and pharmaceutical-technical-assistants – thereby ensuring a continuous expansion of Cantourage’s market share. In the cannabis flower area, Cantourage is able to grow strongly thanks to its particular business model. Cantourage forms partnerships with cannabis cultivators worldwide, imports their cannabis flowers and processes them into medicinal products in Germany. Cantourage has signed long-term contracts with more than 40 growing partners from 18 countries. In the first quarter of 2023, products from cannabis craft cultivators, among other products, were delivered to European medical markets – these are enjoying very significant demand among patients.
Bernd Fischer, Cantourage’s CFO, expressed his satisfaction in the following comments: “From a revenue base that is still low, we almost tripled our revenues in 2022. We continued this trend In the first quarter of 2023 and almost doubled our revenues year-on-year. This shows that the market for the medical use of cannabis is still in its infancy and offers good conditions for profitable and strong growth.”
Philip Schetter, Cantourage’s CEO, added: “Our successful performance over the past months shows that we are already an established player in the growing market for medical cannabis. With this in mind, we are relaxed about potential delays in the legalization of cannabis for recreational use in Germany. If and when legalization comes about, we would certainly be very well positioned with our pharmaceutical know-how, our business model and our existing product portfolio to play a role in the leisure market as well. However, this has not been and is not currently part of our short-term business planning. It would then be added in the future. We will take a specific position on this issue when a picture emerges of when and in what form legalization will actually come about.”
*Cantourage Group SE has not yet prepared consolidated financial statements. So far, pro forma financial information has been prepared in analogous application of the regulations on group accounting in accordance with to the German Commercial Code (HGB). The pro forma financial information shows a hypothetical consolidation of the Cantourage Group and future financial information may differ from the pro forma information.
About Cantourage
Cantourage is a leading European company for the production and distribution of cannabis-based medicinal preparations and drugs. The Berlin-based company was founded in 2018 by industry pioneers Norman Ruchholtz, Dr. Florian Holzapfel and Patrick Hoffmann. With an experienced management team and its "Fast Track Access" platform, Cantourage enables producers from around the world to become part of the growing European medical cannabis market faster, easier and more cost-effectively by processing and distributing their cannabis raw materials and extracts. In doing so, Cantourage ensures compliance with the highest European pharmaceutical quality standards at all times. The company offers pharmaceutical-grade products in all relevant market segments: dried flower, extracts, dronabinol and cannabidiol. Cantourage was listed on the Frankfurt Stock Exchange on November 11, 2022 and is listed under the ticker symbol "HIGH".
This announcement does not constitute a public offer or an advertisement for a public offer in the meaning of Regulation (EU) 2017/1129 (Prospectus Regulation).
This announcement is not an offer of securities for sale in the United States of America. Securities may not be sold or offered in the United States of America absent registration or an exemption from registration under the US Securities Act of 1933, as amended (the “Securities Act”). Any public offering of securities to be made in the United States would be made by means of a prospectus that could be obtained from the Company. This prospectus would contain detailed information about the Company and its management, as well as the Company’s financial information. There will be no public offering of the securities referred to in this announcement in the United States of America.
In the United Kingdom, this information may only be communicated to and is only directed at (i) professional investors in the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”), or (ii) high net worth companies falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to herein as “Relevant Persons”). The Securities are only available to Relevant Persons and any invitation, offer or agreement to subscribe for, purchase or otherwise acquire such Securities will only be engaged in with Relevant Persons. Any person who is not a Relevant Person should not act or rely on this announcement or any of its contents.
Subject to certain exceptions, the securities referred to in this announcement may not be sold or offered in Australia, Canada or Japan, or to or for the account or benefit of any national, resident or citizen of Australia, Canada or Japan.
Press contact Cantourage:
Frederick Steudemann
M +49 (0)30 4701 350-50
pr@cantourage.com
