Brief: Biocartis FY22 Operating Cash Burn At EUR 38.5 Mln

Biocartis NV

17/01/2023 17:05

Jan 17 (Reuters) - Biocartis Group NV  BCART.BR :
    * PRESS RELEASE BIOCARTIS GROUP NV: BIOCARTIS MEETS 2022 KEY
OBJECTIVES
    * 2022 GROSS MARGINS ON PRODUCT SALES OF 34%, A STRONG
INCREASE
FROM 16% IN 2021 AND WELL IN EXCESS OF GUIDANCE OF AT LEAST 30%.
    * 2022 OPERATING CASH BURN (EBITDA PLUS CAPITAL EXPENDITURE)
OF
EUR 38.5M, SIGNIFICANTLY BETTER THAN PREVIOUSLY EXPECTED RANGE
OF EUR 41M - 43M AND A SIZEABLE REDUCTION OF EUR 18.1M FROM EUR
56.6M IN 2021
    * GROSS MARGINS ON PRODUCT SALES OF 34%, A STRONG INCREASE
FROM
16% IN 2021 AND WELL IN EXCESS OF GUIDANCE OF AT LEAST 30%
    * IN 2022 GROSS MARGINS ON PRODUCT SALES OF 34%, A STRONG
INCREASE
FROM 16% IN 2021 AND WELL IN EXCESS OF GUIDANCE OF AT LEAST 30%
    * 2022 IDYLLA™ PRODUCT REVENUES OF EUR 45M ARE FULLY IN LINE
WITH
LATEST GUIDANCE AND INCLUDED EUR 35.8M FROM CARTRIDGE SALES
(+13% YEAR-ON-YEAR) AND EUR 9.2M FROM INSTRUMENT SALES AND
RENTALS (+4% YEAR-ON-YEAR)
    * WE ARE CONFIDENT THAT WE WILL CONTINUE TO GROW AND FURTHER
REDUCE CASH BURN IN 2023, ON OUR WAY TO PROFITABILITY

Source text for Eikon:  ID:nGNE9Lv5fB 
Further company coverage:  BCART.BR 
 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48587696600;))