EZZ Marks Transition to Genomic Health Following Exceptional FY21 Performance
- Written by PR Newswire
About EZZ Life Science Holdings
EZZ Life Science Holding Limited (ASX:EZZ) is a genomic life science company with a mission to improve quality of life and human health. EZZ has a focus on genomic research and development to address four key human health challenges: genetic longevity, human papillomavirus (HPV), helicobacter pylori, and weight management. EZZ is passionate about investing in the future of consumer health through the development of e-commerce and distribution of high-quality products via omnichannel models across Australia, New Zealand, China and worldwide.
SYDNEY, Oct. 29, 2021 /PRNewswire/ -- Genomics life science company EZZ Life Science Holdings Limited (ASX: EZZ) has released its 2021 Annual Report, reinforcing the strength of its key operational highlights in FY21 and accelerating its transition to a fully integrated life sciences company.
Among its list of achievements in FY21, EZZ includes successfully completing an historic $6 million initial public offering on the Australian Securities Exchange on 3 March 2021, in what may be one of the most challenging years of the last half century due to the COVID-19 pandemic.
The newly listed company delivered compelling financial results in FY21, which included boosting total revenue growth by 29% to $22.3 million; the expansion of gross margin from 23% to 56%, an EBITDA increase (excluding other income that relates to government subsidies and the reversal of a management fee), up by 66% to $2.7 million and an improvement in net profit after tax by 28% to $2.0 million. Revenue contribution from EZZ branded health supplements was bolstered, increasing from 4% to 51%, while significantly diversifying the revenue mix away from EAORON branded skincare products and growing its international footprint.
In light of the FY21 performance and outlook, the Board also elected to pay a final, fully-franked dividend of 0.45 cents per share with a record date of 10 November.
EZZ's interim CEO, Mark, said: "EZZ's key highlights for FY21 are the result of meticulous planning and execution by the EZZ team throughout the year, with no signs of slowing down moving into FY22. The strong increase in revenue was attributable to our global focus which has enabled EZZ to maintain healthy growth when Australia and Zealand were adversely impacted by COVID-19."
EZZ affirmed its commitment to maintaining excellent operational performance, deploying capital in business segments with unique capabilities and targeting new international and domestic markets for expansion to generate sustainable growth. The company also flagged its intention to enhance its product development pipeline with healthcare solutions based on genomics research.
"EZZ is undertaking a transformation to a fully integrated life science company with strong cross functional support. This includes genomic research, in-house manufacturing, omni-channel sales and marketing, and inhouse data analytics technology. Genomic health sits at the very core of our company mission: 'to improve quality of life and human health'," Mark said.
