Formycon's 2023 Audited Annual Results Exceed Expectations: A Year of Operational Success

• Formycon AG reported audited annual results for the financial year 2023, with a group revenue increase of 83% compared to the previous year, totaling €77.7 million.
• The company had a positive Group EBITDA of around €1.5 million and an adjusted Group EBITDA of €13.3 million.
• The Group net result stood at €75.8 million due to one-off, non-cash adjustments in the context of financial income.
• Working capital as at the reporting date increased significantly to €38.9 million, including cash and cash equivalents of €27.0 million.
• The 2024 guidance reflects a year of transition and continuing investment in a sustainable biosimilar pipeline towards medium-term EBITDA profitability.
• Formycon has submitted applications for approval for the biosimilar candidates FYB202 and FYB203 in the US and Europe, and expects increasing revenues once these are on the market.

The next important date, Publication of consolidated/annual financial statements, at Formycon is on 25.04.2024.

The price of Formycon at the time of the news was 39,48EUR and was up +0,06 % compared with the previous day.
18 minutes after the article was published, the price was 39,30EUR this corresponds to a minus of -0,44 % since publication.

Formycon

+0,70 %

+2,16 %

-8,70 %

-17,32 %

-39,11 %

-32,43 %

+22,48 %

+504,29 %

+390,23 %

ISIN:DE000A1EWVY8WKN:A1EWVY

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