Tilray Brands Inc (TLRY)

[1vman]

*****Tilray's German Play

Germany gets the majority of the weed for its medical market imported from Canada, with licensed producers shipping 6,493 kilos of medical cannabis flower and extracts to Germany. About a third of Germany's imports come from Canada.

Tilray is reportedly the top marijuana company in Germany. But the country's share of imports has fallen since it was above 38% in 2017. Denmark accounts for 18.1% of imports, Netherlands 18%, and Portugal 11.7%. Tilray estimates it now has about a 20% market share.

"Internationally we have a vast medical opportunity beginning with Germany in addition to other surrounding and emerging legal markets we're already utilizing utilizing our expertise from Canada to support responsible regulations that will enable us to enter and build the presence in these medical markets when feasible," CFO Carl Merton said.

The company reported a 22% increase year over year in German revenue during the first quarter.

There are only three grow facilities operating legally in Germany. Tilray owns one of them.


But the company says it is best positioned to take advantage of the opportunity due to all the work it has already put in in the country of 83 million.

Tilray's German Play
Germany gets the majority of the weed for its medical market imported from Canada, with licensed producers shipping 6,493 kilos of medical cannabis flower and extracts to Germany. About a third of Germany's imports come from Canada.

Tilray is reportedly the top marijuana company in Germany. But the country's share of imports has fallen since it was above 38% in 2017. Denmark accounts for 18.1% of imports, Netherlands 18%, and Portugal 11.7%. Tilray estimates it now has about a 20% market share.

"Internationally we have a vast medical opportunity beginning with Germany in addition to other surrounding and emerging legal markets we're already utilizing utilizing our expertise from Canada to support responsible regulations that will enable us to enter and build the presence in these medical markets when feasible," CFO Carl Merton said.

The company reported a 22% increase year over year in German revenue during the first quarter.

There are only three grow facilities operating legally in Germany. Tilray owns one of them.

Tilray does note that since Germany is the largest medical cannabis market in Europe there's a lot of competition coming into the market.

But the company says it is best positioned to take advantage of the opportunity due to all the work it has already put in in the country of 83 million.