Valeos Pharma A/S, which produces medical cannabis in Holeby on Lolland, recorded yet another significant deficit in 2024. The accounts show a loss of 16.9 million kroner, an increase compared to the previous year, where the deficit was 16.5 million kroner.
The company has thus had million-kroner deficits for five consecutive years, with total losses amounting to over 80 million kroner since its inception in 2018.
Nevertheless, the company succeeded in raising new capital. A cash capital increase of 32 million kroner made it possible to restore the company's equity, which now amounts to 6.8 million kroner compared to a negative amount the previous year.
Repeated changes in management
At the same time, Valeos has experienced instability in its management. In February 2024, director Peter Frederik Andreasen resigned, and Morten Larsen Snede took over the position. Already in May 2025, Snede was replaced again by Andreasen, who returned as CEO.
Expansion and operations
The production equipment remains the company's largest asset and is recorded at 46 million kroner. Depreciation amounted to just over 3 million kroner in 2024. Staff expenses increased to 10.5 million kroner, which corresponds to an average of 19 full-time employees.
According to the company, the production facilities were completed in 2023, and the necessary regulatory approval to produce has been received. However, the annual report does not state whether there has been an actual market introduction of products.
Debt and ownership
Total debt has been reduced from almost 70 million kroner to just over 50 million kroner, primarily due to the write-down of convertible loans. Valeos Pharma's main shareholder is MSG Capital ApS, which holds a controlling stake. The company has previously changed its name and company form several times and was relaunched under the current name in 2022.
