Melodiol Delivers Strong Start To Q3 Cy2023 With $1.6M In New Revenue And Confirmed POs

Melodiol Global Health Limited (ASX:ME1, FRA:1X8) (‘Melodiol’ or ‘the Company’) is pleased to advise that as of 17 July 2023 it has delivered $1.6m in new revenue and confirmed POs during Q3 CY2023, which has laid a solid foundation for the Company to continue its current growth trajectory.

Highlights:

• $1.6m of new unaudited revenue and confirmed POs achieved in Q3 CY2023 as of 17 July 2023
  
• Strong trend builds on record breaking Q2 CY2023 revenues of A$4.7m which were up 105% up on Q1 CY2023
• CY2023 sales to date of $8.6m approaching entire CY2022 record revenues of $8.7m
• Growth underpinned by strong contributions from Mernova Medicinal Inc, Health House International, and Creso Pharma Switzerland

The strong start to the September quarter follows record revenue during Q2 CY2023 of $4.74m, which marked a 105% increase on Q1 CY2023 (refer ASX announcement: 13 July 2023). New sales during Q3 CY2023 takes total unaudited revenue to date for the year to A$8.6m – approximately equal to record breaking revenues of A$8.7m for the entire of CY2022.

Q3 CY2023 revenue has been primarily underpinned by Melodiol’s two 100%-owned subsidiaries, specialist medicinal cannabis distributor Health House International (‘HHI’) and Mernova Medicinal Inc. (‘Mernova’), a leading supplier of recreational cannabis products in the Canadian market, as well as strong contributions from Creso Pharma Switzerland.

The pleasing start to Q3 CY2023 highlights Melodiol’s ongoing focus of consolidating its market momentum following the successful integration of HHI, and driving further growth in revenue and EBITDA across its core operating divisions.

Chief Executive Officer Mr William Lay said: “In recent months, Melodiol has undertaken a number of steps to optimise its operations to capitalise on revenue growth opportunities. The group achieved exceptional momentum during the last quarter and we are pleased to see this continue in the early stages of Q3 FY2023.

“The Board and management team are actively assessing a number of opportunities which have the potential to unlock additional value for shareholders and we look forward to providing ongoing operational updates over the coming months.”

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