Denver, Colorado–(Newsfile Corp. – April 6, 2021) – CBD of Denver, Inc. (OTC: CBDD), a full-line CBD and hemp oil company and a producer and distributor of cannabis and CBD products in Switzerland, Europe, and the US, reported its financial results for the year ended December 31, 2020.
Key Highlights (in USD):
- $16M revenue with strong quarterly growth, despite COVID-19 lockdowns
- Gross profit of $1.4M
- Income from operations $1.2M
- Net income $800K
“We generated substantial top-line and bottom-line growth in 2020 while making the necessary capital investments in our grow facility, wholesale distribution, and direct sales to consumers, expanding our client base and increasing distribution of our products,” commented CEO Marcel Gamma. “Our revenue growth was driven primarily by our wholesale division, Rockflowr Exchange, which acquired major new customers throughout Switzerland and the European market.
“As growth accelerated in the third quarter, we grew from a shared 160 square meter facility to a 260 square meter facility. Even with substantial growth, we continue to closely monitor fixed expenses in our push to create profitability across all divisions of the Company.”
The Rockflowr Exchange continues to add new salespeople and hired a social media manager in 2020 to oversee expansion of the Company’s marketing efforts on Instagram and other social media platforms, which have been instrumental in new client acquisitions.
The Company has also made capital improvements to Rockflowr Production (grow facilities), expanding the size of its largest facility by about 25% and adding new grow and vegetation rooms. CBDD continues to streamline its production processes and guidelines to increase potential profitability in this division.
Pascal Siegenthaler, Managing Director Sales, states, “To strengthen our market penetration at Rockflowr Retail in 2020, we developed new, improved packaging and distinctive logos, and we intend to increase product lines in early 2021, featured both in our brick-and-mortar and online stores. We have high expectations as we implement our plan to expand our direct-to-consumer promotions and sales.”
CBDD is developing a B2B strategy to provide products to existing retail locations, including pharmacies, convenience stores, petrol stations, and other brick-and-mortar locations.
“Our focus now is to expand distribution of our current operations while also expanding product lines to increase top line growth as well as bottom line growth, always keeping an eye on return on investment and profitability of all divisions,” continued Gamma.
CBD of Denver, Inc., Rockflowr GmbH and Swiss Industry Ventures AG are now also on LinkedIn.
About CBD of Denver, Inc.
CBD of Denver, Inc. (OTC: CBDD) a full-line CBD and Hemp oil company (“CBDD”) and a producer and distributor of Cannabis and CBD products in Switzerland, Europe and the US. CBDD is focused on using equity to acquire profitable Swiss assets at attractive valuations to create value for all our shareholders driven by a passion to improve lives and strengthen communities by unleashing the full potential of cannabis.
Through our brand Rockflowr and BlackPearlCBD we reach our consumers and have built up a strong customer base by focusing on top quality products and meaningful customer relationships.
Black Pearl CBD has 0% THC, but is not an Isolate where the THC is stripped from the product rendering it ineffective. We use a proprietary technique adding terpenes as the activation ingredient, resulting in a product that is the finest in the industry and only available at www.cbdofdenver.com
Information contained herein includes forward-looking statements. These statements relate to future events or future financial performance, involving known and unknown risks and you should not place undue reliance on these statements. Any forward-looking statement reflects our current views with respect to future events. We assume no obligation publicly about update or revise these forward-looking statements for any reason.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/79532