ME1 ann ---- 3 July 2024
Melodiol Q2 Revenue and Updates
Highlights:
• Q2 2024 unaudited revenues total $4.8m, a 9% increase on Q1 2024 ($4.4m)
• Brings H1 2024 unaudited revenues to $9.2m, a 31% increase on H1 2023 ($7.0m)
• Growth underpinned by strong results at Mernova
Melodiol Global Health Limited (ASX:ME1) (‘Melodiol’ or ‘the Company’) is pleased to advise that it has
delivered another strong revenue quarter. During Q2 of 2024, Melodiol generated unaudited revenue of
$4.8m, a 9% increase on Q1 2024 ($4.4m). H2 2024 unaudited revenues now total $9.2m, a 31% increase
on H1 2023 ($7.0m).
Growth was underpinned by strong results at Mernova. During Q2 of 2024, Mernova had confirmed
unaudited purchase orders of $2.0m (C$1.8m). This figure is a 25% increase on Q1 2024 ($1.6m) and a 33%
increase on Q2 2023 ($1.5m). In addition to these strong results, Mernova already has confirmed purchase
orders for Q3 2024 of $452k (C$411k), providing a strong foundation for the quarter.
Additionally, Mernova achieved a variety of key objectives, including the introduction of a new product
category (edibles), the approval of numerous new SKUs in existing provinces, the introduction of new
vaporiser flavours and a supply agreement to source additional capacity to keep up with strong demand.
In addition to these strong results, Mernova already has confirmed purchase orders for Q3 2024 of $452k
(C$411k), providing a strong foundation for the quarter.
During Q2 of 2024, HHI also provided $2.8m in sales between its Australian and UK divisions. As stated
previously, the Company is committed to rationalising non-core business units, while focusing on its core
divisions, Mernova and HHI in an effort to achieve profitability as quickly as possible.
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