ADL Bionatur Solutions
- Land: Spanien
Nachricht vom 10.10.2019 | 11:14
Financial results for the first half of 2019: ADL Bionatur Solutions increases revenues by 138% and confirms positive operating results
DGAP-News: ADL Bionatur Solutions
/ Key word(s): Half Year Results
FINANCIAL RESULTS FOR THE FIRST HALF OF 2019:
León, Spain, 10 October 2019 - ADL Bionatur Solutions (MAB: ADL), a company specialized in research and development of health, cosmetic and beauty products, services and industrial fermentation production, today reported the financial results for the first six months of 2019. Revenues of the first half of 2019 amounted to EUR 22.5 million reflecting a 138% growth compared to the same period last year. EBITDA turned positive with EUR 595 thousand compared to a loss of EUR 5.9 million for the same period of 2018.
Pilar de la Huerta, CEO of ADL Bionatur Solutions, said: "The half year results presented today confirm the roadmap the management of ADL defined. With the investment effort made since 2017 and 2018 being the turning point for ADL, in 2019 we are proving our strength and capabilities with a revenue growth of 138% and reaching profitability. We are expecting to continue our strong growth path for the remaining months of 2019 and the years to come. Therefore, we confirm our guidance of revenues above EUR 50 million and the first ever positive full year EBITDA result."
Financial results for the first six months of 2019
Revenues of the first half of 2019 amount to EUR 22.5 million reflecting a 138% growth compared to EUR 9.5 million for the first half of 2018.
The substantial improvement results from stronger performance in the company's main business areas:
CMO's strong revenue growth of 190% compared to the first half of 2018 is due to the renewal, extension and incorporation of new contracts with international clients and the continuous improvement of ADL's facilities. The strong growth of the R&D division reflects the company's commitment to research and development with the aim of developing a portfolio of proprietary products.
In the reporting period, ADL achieved an adjusted EBITDA of EUR 595 thousand, compared to a loss of EUR 5.9 million for the same period of 2018, which represents a strong improvement and change in trend towards growth with profitability. EBITDA for the first half of 2019 amounted to EUR 105 thousand, an improvement by 102% compared to the loss of EUR 6.2 million in the same period of 2018.
Key event in the first six month of 2019:
Key events after the reporting period to date:
In 2019, ADL Bionatur Solutions share price increased by 30% clearly outperforming the index Ibex 35 and the MaB index by six-fold. The target price valuation of analysts covering ADL, Checkpoint, Banco Sabadell, ESN and Edison, ranges between EUR 2.37 and EUR 3.30.
Since the beginning of 2019, ADL has signed and renewed several CMO (contract manufacturing organization) and API (active pharmaceutical ingredient) contracts with internationally leading companies. These achievements and the strong reported growth allow the company to confirm its full year guidance of revenues above EUR 50 million and the first overall positive full year EBITDA result.
The financing agreement of EUR 25 million with Kartesia facilitate the execution of the business plan for the next four years including the complete modernisation of the facilities in León and investments at the other company sites.
About ADL Bionatur Solutions
ADL Bionatur Solutions (MAB: ADL) is a company specialized in biopharma manufacturing plus research and development of health, cosmetic and beauty products, services and industrial fermentation production. The Company, that owns the largest fermentation production plant in Southern Europe, carries out high value-added product development, scale-up and production for third parties. International healthcare companies as well as first-in-class academic and industrial laboratories mainly from Europe and the US are part of ADL's customer base. The biopharma manufacturing business is complemented by a research and development division, which creates a proprietary product pipeline in animal and human health. ADL is listed on the MAB, Spain's Alternative Stock Market (ISIN ES0184980003) and its major shareholder is the investment fund Black Toro Capital holding 71%. More information is available at www.adlbionatur.com or follow us on Twitter @adlbionatur and LinkedIn.
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ADL Bionatur Solutions
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