Brief: CARMAT Eyes Acceleration In Sales From Q4

Carmat SA

25/09/2023 16:45

Sept 25 (Reuters) - Carmat SA  ALCAR.PA :
    * H1 REVENUE OF EUR 0.6 MILLION, NEGATIVELY IMPACTED BY
SUPPLY
DISRUPTIONS, VERSUS. NO REVENUE YEAR AGO
    * INCREASE OF NOMINAL PRODUCTION CAPACITY TO 500 HEARTS
ANNUALLY
BY END-2023; THIS EXPANSION OPENS DOOR TO POTENTIAL ANNUAL
REVENUES OF EUR 100 MILLION
    * AT JUNE 30, 2023, CO HAD EUR 23.8 MILLION IN CASH AND CASH
EQUIVALENTS VERSUS. EUR 51.4 MILLION AT END-2022
    * SEVERAL FINANCING OPTIONS BEING ACTIVELY EXPLORED TO
EXTEND CASH
RUNWAY BEYOND END-OCTOBER 2023
    * H1 NET LOSS EUR 26.7 MILLION VERSUS LOSS EUR 26.0 MILLION
YEAR
AGO
    * SUBSTANTIAL ACCELERATION IN SALES EXPECTED FROM Q4 2023
    * SHORT-TERM FINANCIAL LIABILITIES INCLUDE AGGREGATE EUR 2.0
MILLION PAYABLE IN Q4 2023, MAINLY CORRESPONDING TO REPAYMENTS
OF GOVERNMENT-GUARANTEED LOANS, AND AGGREGATE OF EUR 14.9
MILLION PAYABLE IN H1 2024
    * SHORT-TERM FINANCIAL LIABILITIES INCLUDE AGGREGATE OF EUR
14.9
MILLION PAYABLE IN H1 2024 PRIMARILY RELATING TO THE REPAYMENT
OF THE FIRST TRANCHE (DRAWN DOWN IN JANUARY 2019) OF LOAN TAKEN
OUT WITH EIB
    * REITERATES ITS CONFIDENCE IN REACHING KEY OBJECTIVES FROM
ITS
STRATEGIC ROADMAP

Source text for Eikon: [ID: nBw8x9dbXa
Further company coverage:  ALCAR.PA 

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