Trading Update and Notice of Preliminary Results

RNS Number : 3018Z

Belluscura PLC

24 January 2022

 

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE UK VERSION OF THE MARKET ABUSE REGULATION NO 596/2014 WHICH IS PART OF ENGLISH LAW BY VIRTUE OF THE EUROPEAN (WITHDRAWAL) ACT 2018, AS AMENDED. ON PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Belluscura PLC

("Belluscura" or the "Company" or "Group")

Trading Update and Notice of Preliminary Results

Demand for, and delivery of, X-PLO2R™ portable oxygen concentrator exceeds expectations

LONDON, U.K. AND PLANO, TX, U.S. (24 January 2022).   Belluscura plc (AIM: BELL), a leading medical device developer focused on lightweight and portable oxygen enrichment technology, announces a trading update for the 12-month period ended 31 December 2021.

The Board is pleased to report that demand for, and delivery of, the X-PLO₂R® portable   oxygen concentrator has exceeded our most recent update of 4 November 2021 . Since the launch of X-PLO₂R in September 2021, the Group has sold 377 units, 25% above current consensus forecasts and 150% above initial forecasts for 2021.

Recognising the current global supply chain challenges, the Company has significantly increased inventory levels of key components and other raw materials to pre-empt any potential disruption on production levels allowing them to be maintained in the current financial year and beyond.

The Group's manufacturing capability has been scaled up significantly to ensure that the Company can continue to meet the increased demand from US distributors, with the company continuing to broaden its sales network with both online and brick & mortar distributors. The company also continues to move forward toward launching the product outside the US, having received enquiries from distributors globally.

At 31 December 2021 the Company retained cash balances of $15.6 million (unaudited) and remained debt free.

Development of the follow-on products, the X-PLO₂R CX and X-PLO₂R DX, continues to progress well with the expected launch of these next generation products to be in Q2 2022 and Q3 2022 respectively.

The Board is delighted with the progress that has been made to date and looks forward with confidence as a result of the continued rapid growth in the global demand for portable oxygen concentrators.

Notice of Preliminary Results

The Group expects to release its preliminary results for the year to 31 December 2021 in mid-February.

Robert Rauker, CEO of Belluscura plc, commented:  "Market reception for the X-PLO₂R® has been positive and initial demand has been very strong. We are very excited about the upcoming launch of the X-PLO₂R CX and X-PLO₂R DX and look to the future with confidence."

For further information please contact:

Belluscura plc	www.belluscura.com
Robert Rauker, Chief Executive Officer	via Walbrook PR
Anthony Dyer, Chief Financial Officer
SPARK Advisory Partners Limited (NOMAD)	Tel: [phone]
Neil Baldwin
Dowgate Capital Limited (Broker)	Tel: [phone]
James Serjeant / Nicholas Chambers
Walbrook PR Ltd (Media & Investor Relations)	Tel: [phone] or [e-mail]
Paul McManus / Sam Allen	Mob: [phone]

About Belluscura plc ( www.belluscura.com )

Belluscura is a UK medical device company focused on developing oxygen enrichment technology spanning broad industries and therapies. Our innovative oxygen technologies are designed with a global purpose: to create improved health and economic outcomes for the patients, healthcare providers and insurance organisations.

 

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