May 3, 2018 / 6:44 AM / 20 days ago

BRIEF-MagForce FY Stable Net Loss Of EUR 7.5 Mln

May 3 (Reuters) - MAGFORCE AG:

* FY REVENUES INCREASED TO EUR 716 THOUSAND COMPARED TO EUR 474 THOUSAND IN PREVIOUS YEAR

* FY OPERATING RESULT OF EUR -7,410 THOUSAND WAS ALMOST AT PREVIOUS YEAR’S LEVEL OF EUR -7,461 THOUSAND.

* CASH AND CASH EQUIVALENTS AS OF DECEMBER 31, 2017 AMOUNTED TO EUR 666 THOUSAND (PRIOR YEAR: EUR 614 THOUSAND)

* FY TOTAL NET LOSS STABLE AND AMOUNTED TO EUR 7,465 THOUSAND (PRIOR YEAR: EUR 7,231 THOUSAND)

* IN Q1 2018, MAGFORCE DREW EUR 10 MILLION FROM EIB LINE OF CREDIT

* EXPECTS TO EXPAND ITS BUSINESS ACTIVITIES IN FINANCIAL YEAR 2018 BEYOND GERMANY

* EXPECTS FOR BUSINESS YEAR 2018 A HIGHER OPERATIONAL LOSS DUE TO INCREASING COMMERCIAL ACTIVITIES Source text for Eikon: Further company coverage: (Gdynia Newsroom)

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