Brief: Biocartis H1 Product-Related Revenue Up At EUR 23.5 Mln

Biocartis NV

26/09/2023 06:16

Sept 26 (Reuters) - Biocartis Group NV  BCART.BR :
    * H1 SOLID PERFORMANCE WITH 22% GROWTH OF ONCOLOGY CARTRIDGE
REVENUE, A 40% GROSS MARGIN ON PRODUCT SALES AND A 20%
IMPROVEMENT IN EBITDA TO EUR -14.5M
    * OPERATIONAL REORGANIZATION AND COST REDUCTION PROGRAM
NEARING
COMPLETION AIMEDAT REACHING OPERATING BREAK-EVEN RESULT BY END
OF 2024
    * RECAPITALIZATION AND BALANCE SHEET RESTRUCTURING PLAN BY
SECURED
CREDITORS ANNOUNCED AND EXPECTED WIND DOWN OF LISTED HOLDING
ENTITY
    * SHAREHOLDERS OF BIOCARTIS GROUP NV WILL RECEIVE NO
DISTRIBUTION
FROM SECURITY ENFORCEMENT AND ARE EXPECTED TO RECEIVE NOTHING AT
TIME OF ITS WIND DOWN
    * INTERESTS AND CLAIMS OF EUR 16 MILLION UNSECURED 4.00%
CONVERTIBLE BONDS DUE 2027 (ISIN BE0002651322) WILL BE WRITTEN
DOWN TO ZERO PURSUANT TO THEIR TERMS AS PART OF ENFORCEMENT
    * H1 GROSS PROFIT ON PRODUCT SALES INCREASED BY 36% FROM EUR
6.6M
M TO EUR 9M
    * H1 PRODUCT RELATED REVENUE OF EUR 23.5M (H1 2022: EUR
21.3M)

Source text for Eikon:  ID:nGNE2d0JQQ 
Further company coverage:  BCART.BR 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 769 66 00;))