Polynovo Ltd (FRA:MFJ)
€ 1.43 -0.01 (-0.69%) Market Cap: 1.02 Bil Enterprise Value: 998.76 Mil PE Ratio: 298.75 PB Ratio: 22.98 GF Score: 79/100

Half Year 2021 Polynovo Ltd Earnings Call Transcript

Feb 23, 2021 / 12:30AM GMT
Release Date Price: €1.54 (+0.65%)
Operator

Welcome to PolyNovo's half year results presentation. Today, we have presenting, Chairman, David Williams; Managing Director, Paul Brennan; and CFO, Jan Gielen. (Operator Instructions)

I would now like to hand you over to Chairman David Williams. Please go ahead.

David John Williams
PolyNovo Limited - Independent Non-Executive Chairman

Thank you, and welcome, everybody, to this call. I don't propose to say too much. I'm going to hand it over to Paul Brennan and Jan Gielen, but we have just come from a Board Meeting, and I thought it might be helpful just to reflect on the progress of the company, the way I see it.

As you saw, our growth in the first half in terms of sales was only 31%. I've said ad infinitum that the business is lumpy. And interestingly, while we had a soft October, November, sales in December, for example, in the U.S. were above budget. So I'm not going to sit here and say that COVID is a problem. It's got small issues for us in terms of access to one-and-one meetings with surgeons. It's got small issues for us in terms of

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