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Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Canopy Growth Corporation reports fourth quarter and fiscal 2019 results with annual sales of $ 226.3 million

Canopy Growth Corporation reports fourth quarter and fiscal 2019 results with annual sales of $ 226.3 million



  • Annual revenue growth of 191% to $ 226.3 million . Generated $ 140.5 million. of the gross revenue from the new Canadian recreational channel and $ 78.9 million. in global medical sales.
  • Quarterly revenue growth of 13% over the third quarter with additional revenue generated through value added products, extraction services and clinic partners.
  • Delivered 24,300 kg and kilo equivalents in the financial year, including 16,300 kg of dry flower and 8,000 kg of equivalents of oil and soft gels.
  • Canadian cannabis harvested is expected to increase to approx. 34,000 kilos in the first quarter of 2020, with additional licensed capacity still to come; Additional capacity is expected to increase finished furniture for sale starting in the second quarter of 2020.
  • Enlargement in Smiths Falls footing the headquarters to more than 950,000 square meters of value-added production and logistics space.
  • ] $ 5 billion investment secured from Constellation Brands is being implemented to accelerate global expansion, including the acquisition of medical manufacturer of cannabis equipment, Storz & Bickel. After the end of the year, the Company acquired Germany -based C³ Cannabinoid Compound Company, Europe's largest cannabinoid-based pharmaceutical company and the British-based beauty and wellness brand, This Works Products Limited. 1
    9659002] Fast expansion in the US CBD market after crossing new Farm Bill; Investments and partnerships related to extraction, advanced manufacturing and warehousing / logistics are underway. Seeking to bring CBD products on the market before the end of fiscal 2020.
  • Further Solidified United States Shareholder Approval Plan to Acquire Leading Multi-Statistic Operators Acreage Holdings, Inc. ("Acreage") an agreement that gives the company a way to serve recreational and medical markets through federal authorization and licensing structure to provide Acreage with brand and product IP to accelerate their market expansion .
  • International licenses covering over 35 million square meters of production now in place over Africa Europe and Latin America with new certifications, sales and global partnerships established to accelerate sales of medical and CBD products internationally (see Linked Monday Press Release).
  • March 31, 2019 was the company's cash and marketable securities / PRNewswire / – Canopy Growth Corporation ("Canopy Growth" or "Company") (TSX: WEED)) (NYSE: CGC today announced its financial results for the fourth quarter and financial year ended March 31, 2019 . The revised consolidated financial statements and management's discussion and analysis for the twelve months ending March 31, 2019 will be filed at SEDAR after the financial markets close to Friday, June 21, 2019 and will be available at www.sedar.com. All financial information in this press release is reported in Canadian dollars unless otherwise stated. This press release should be read in conjunction with the company's annual accounts and management discussion and analysis, which will be available at www.canopygrowth.com and filed at SEDAR.

    The financial year 2019 was a year of continued expansion across key markets, including important steps towards the completion of the company's expansion in Canada . The management believes that the strategy of investing early in high quality Canadian production assets and significant value added infrastructure has been validated in the second half of the 2019 budget, as most of the company's production platform was licensed and operational with further improvements in expected production. when full clean-up of facilities is completed. Canopy Growth expects to harvest approx. 34,000 kilos, with additional licensed capacity, expected run-up and efficiency. The company's strategy has resulted in it having the largest market share in the Canadian market in Canada.

    "The fourth quarter encapsulates a historic year of major steps in Canada to expand our national platform while scaling all our processes to bring cannabis to the market. advanced production, while the fourth quarter relied more on efficient flow and a more automated platform, " Bruce Linton Chairman and Co-CEO of Canopy Growth. "With more product formats coming to the Canadian market later this year, we're working hard to make sure we're ready to hit the ground with products, formats and brands that Canadians trust."

    Fourth Quarter and Fiscal 2019 Operational and Financial Summary

    Q4
    2019

    Q4
    2018

    %
    Change

    ]


    2019

    FY
    ] 2018

    %
    Change

    Net Sales (Million)

    $ 94.1 [19659024] $ 22.8

    313%

    $ 226.3

    $ 77.9

    191% [19659022] Kilograms and kilogram equivalents sold

    9,326

    2,528

    269%

    24,320

    8,708

    179%

    Average selling price per kilogram. Gram – Recreational

    $ 7.28

    – [19659029] NM

    $ 7.20

    NM

    Average sales price per Gram – Canadian Medical

    $ 8.17

    $ 8.00

    2%

    $ 8.90

    $ 8.34

    7%

    Average sales price per. Gram

    Average sales price per gram – International Medical

    $ 13.91

    $ 13.35

    4%

    $ 13.57

    $ 13.16

    3%

    $ 8.43 [19659027] -11%

    $ 7.91

    $ 8.24

    -4%

    Inventory & Biological Assets (millions)

    $ 341

    $ 118

    189%

    189 %

    ] $ 341

    Kilogram Harvested (kilograms) 14,469

    4,811

    201%

    46,927

    22,513

    46,927 %

    cash and marketable securities (million)

    $ 4,515

    $ 323

    1298%

    $ 4,515

    $ 323

    1298%

    Fourth Quarter and tax rate 2019

    Q4


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