Polypeptide Expects Net Loss For H1 And Full Year

PolyPeptide AG

13/07/2023 07:46

July 13 (Reuters) - Polypeptide  PPGN.S : 
    * DELIVERS REVENUE OF AROUND EUR 132 MILLION FOR H1 –
EXPECTS NET
LOSS FOR H1 AND FULL YEAR 2023
    * REPORTED EBITDA FOR H1 2023 IS EXPECTED TO BE BETWEEN EUR
-19
AND EUR -21 MILLION COMPARED TO EUR 26.7 MILLION IN H1 2022
    * AROUND HALF OF THE DECLINE IN PROFITABILITY IS DRIVEN BY
AN
INVENTORY WRITE-OFF OF EUR 9.5 MILLION, AN IMPAIRMENT OF EUR 2.0
MILLION IN ASSETS AND NEGATIVE COST ABSORPTION REFLECTING
INVENTORY OPTIMIZATION
    * EXPECTS IMPROVED EBITDA FOR H2 2023, DRIVEN BY HIGHER
REVENUE
AND ITS OPERATIONAL IMPROVEMENT INITIATIVES
    * DESPITE THIS, THE GROUP EXPECTS TO OPERATE FOR THE FULL
YEAR
2023 AT A NET LOSS. IT PLANS TO UPDATE ITS GUIDANCE FOR 2023
TOGETHER WITH THE PUBLICATION OF THE HALF-YEAR REPORT 2023.


 (Reporting by Andrey Sychev)
 ((Andrey.Sychev2@thomsonreuters.com;))