Earnings Release • Sep 21, 2017
Earnings Release
Open in ViewerOpens in native device viewer
Lyon, September 21 st , 2017 – after the market close - AMOEBA (FR0011051598 - AMEBA), producer of a biological biocide capable of eliminating waterborne bacterial risk and wound care applications, announced today its 2017 half-year results.
The Board of Directors closed the company's consolidated accounts for the 1 st half of 2017 at their meeting held on September 21 st , 2017.
The statutory auditors conducted a limited audit of the consolidated half-yearly financial statements on June 30th , 2017 and have not identified any significant discrepancies likely to call into question the compliance thereof. They proceeded to the report's signature.
The half-yearly report is currently being issued and will be available on the company's website (www.amoeba-biocide.com) in the coming days.
| (In K€) | 30/06/2017 | 30/06/2016 |
|---|---|---|
| Turnover | 75 | 60 |
| Industrialisation costs | (314) | (456) |
| R&D costs | (1,401) | (1,022) |
| Subsidies | 278 | 290 |
| Marketing & Sales | (473) | (454) |
| General costs | (1,309) | (1,090) |
| Operational balance | (3,144) | (2,672) |
| Financial balance | (96) | (16) |
| Net balance | (3,240) | (2,688) |
The operational balance on June 30th , 2017 was €-3,240 K, in line with the company's forecast.
The analysis of these results indicates:
An increase in research and development costs primarily related to the MA application in Europe and industrial tests in Canada as well as patent fees.
An increase in general costs reflecting the size of the Group in order to start the industrialization and marketing phase.
The half yearly net balance is therefore €-3,240 K.
On June 30th, 2017, the Company's shareholders' equity amounted to €15.4 million, compared to €21.8 million on June 30th , 2016. Cash flow is €8.6 million.
During the 1st half of 2017, the Company signed 4 new Letters of Intent in Italy, Romania and in the USA prior to entering into a definitive distribution agreement, subject to pending marketing authorizations required in these different territories.
AMOEBA also signed 2 definitive distribution agreements in the Netherlands and in the USA for the distribution of its BIOMEBA product, pending marketing authorization required in these different territories.
The Company has extended its portfolio of patents in China. It has also obtained the issue in France of a new patent on the biological process against the pathogenic microorganism Naegleria Fowleri.
Finally, the Company continued its industrial field tests in Canada and in Europe and finalized research programs within the framework of its regulatory dossier on European marketing authorization.
AMOEBA has continued to expand its commercial network with the signature of a new Letter of Intent with MOMAR Inc prior to entering into a definitive distribution agreement and upon pending the marketing authorisation in the United States.
The Company also signed a definitive distribution agreement with DREWO, subject to pending marketing authorization in Italy.
The company informed about the European working group held on its regulatory dossier (ref: press release of September 11th , 2017).
AMOEBA group's objective is to become the global leader in eliminating waterborne bacterial risk in water treatment and wound care applications. Our solutions represent alternatives to chemical products widely used in the cooling water treatment and the wound care market. In a global market for chemical biocides estimated to be worth EUR 21 bn(1) AMOEBA is focusing on the industrial cooling tower application estimated at EUR 1.7 bn(2). Similarly, in a global wound care market estimated at EUR 15.2bn(3) , AMOEBA is targeting the chronic wound care market in the USA, estimated to be worth EUR 751 million(4). The use of Willaertia magna C2c Maky in health care products will be subject to FDA (Food and Drug Administration) clearance in the USA. AMOEBA's biological biocide for water treatment, BIOMEBA, has not yet been granted marketing authorization in the USA, Europe and Canada. AMOEBA is taking the required regulatory steps to be granted marketing authorization in those regions for the use of BIOMEBA in cooling water systems. Based in Chassieu (Lyon, France), AMOEBA is quoted on compartment C of the Euronext Paris stock exchange and joined the CAC® Small index on 21st September 2015. More information on www.amoeba-biocide.com.
(1) marketsandmarkets.com, "Wound Care Market by Product, Wound Type, End User - Global Forecast to 2021," 2016.
(2): Amoéba data combined from the following sources: DRIRE 2013, Eurostat, ARHIA 2013
(3) M. Diligence, "Wound Management: An \$18.5 billion+ worldwide market in 2021," MedMarket Diligence, 10 June 2013. [Online]. Available: http://blog.mediligence.com/2013/06/10/wound-management-an-18-5-billion-worldwide-market-in-2021/. [Accessed 14 February 2017].
(4) BCC Research, "Markets for Advanced Wound Management Technologies," Wellesley, MA, 2017.
AMOEBA Nathalie COMBROUSSE Marketing Communication Manager Tel. : +33 (0)4 81 09 18 15 [email protected]
Ghislaine GASPARETTO Financial Communication Tel. : +33 (0)1 56 88 11 11 [email protected]
Building tools?
Free accounts include 100 API calls/year for testing.
Have a question? We'll get back to you promptly.