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DGAP-News: SynBiotic SE
/ Key word(s): Product Launch/Miscellaneous
Becoming a cannabis ecosystem: SynBiotic SE management update
Munich, August 3, 2022.
Golden days are in store for the cannabis industry in Germany. In the run-up to legalization, SynBiotic SE, Europe's largest listed corporate group in the hemp and cannabis sector, is expanding its lead in the market. To this end, CEO Lars Müller's team is putting his corporate group on track, strengthening synergies and turning the group into an ecosystem.
From cultivation to production to trade: "Uniting so many different areas offers a tremendous opportunity," explains Lars Müller. "This has been our focus over the last few months. We’re also in the process of expanding our cannabis ecosystem and, in line with our buy-and-build investment strategy, we continue to look for exciting companies. We’re already in communication with other interesting players for a possible takeover."
CBPlus and medical cannabis: operational group projects bring revenue Alongside preparations for the legalization of recreational cannabis, the existing legal market for cannabinoids continues to be SynBiotic SE’s core market. With CBPlus – an alternative CBD extract containing cannabinoids and terpenes not derived from hemp – a product designed for the core market recently reached market maturity and was successfully launched. Müller comments: "CBPlus is showing itself to be a sales hit after only a short time. The first batches have completely sold out since our sales launch, and we’ve already been able to generate sales in the six-digit range." In the coming weeks, SynBiotic SE will also launch its own medical cannabis brand Hempamed Rx, to be presented at Expopharm, the leading trade fair for the pharmacy market.
What awaits investors at the annual shareholders’ meeting in Q4 2022 SynBiotic delivers pro-forma sales of 15 million euros for 2021 in the group based on preliminary figures. These and other company details such as consolidated financial statements will be presented by the cannabis corporate group at the annual shareholders’ meeting in the fourth quarter of 2022. "We look forward to finally welcoming our investors face to face and demonstrating to them how we plan to become profitable as of 2023," concludes CEO Lars Müller.
About SynBiotic SE SynBiotic SE is the largest listed corporate group in Europe in the hemp and cannabis sector and pursues an EU-focused buy-and-build investment strategy. The group of companies encompasses the entire supply chain from cultivation to production to trade – from the field to the shelf. A core business of the company is the research & development, production and marketing of cannabinoid- and terpene-containing solutions for major social problems such as pain, sleep disorders and anxiety. In addition to the food supplement and cosmetics market, SynBiotic SE is also active in the medical sector and will in the future extend this to the recreational cannabis sector.
03.08.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | SynBiotic SE |
| Barer Str. 7 | |
| 80333 München | |
| Germany | |
| E-mail: | office@synbiotic.com |
| Internet: | https://www.synbiotic.com/ |
| ISIN: | DE000A3E5A59 |
| WKN: | A3E5A5 |
| Listed: | Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt, Munich, Tradegate Exchange |
| EQS News ID: | 1412333 |
| End of News | DGAP News Service |
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1412333 03.08.2022
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