June 30, 2020 / 6:34 AM / 16 days ago

BRIEF-MagForce Revenues Up At EUR 840000

June 30 (Reuters) - MAGFORCE AG:

* PUBLISHES FINANCIAL RESULTS FOR THE YEAR 2019 AND OPERATIVE HIGHLIGHTS

* ENORMOUSLY INCREASED CORPORATE SALES IN Q1 OF 2020

* IN FINANCIAL YEAR, REVENUES AMOUNTED TO EUR 840 THOUSAND (PREVIOUS YEAR: EUR 67 THOUSAND)

* OTHER FY OPERATING INCOME AMOUNTED TO EUR 904 THOUSAND

* FY OPERATING INCOME DECREASED FROM EUR 14,909 THOUSAND BY EUR 14,005 THOUSAND COMPARED TO PREVIOUS YEAR

* WHILE PREVIOUS YEAR DUE TO EXTRAORDINARY EFFECTS SHOWED A POSITIVE OPERATING RESULT OF EUR 6,828 THOUSAND, 2019 CLOSED WITH A NEGATIVE OPERATING RESULT OF EUR 6,203 THOUSAND

* YEAR 2019 CLOSED WITH A NET LOSS FOR YEAR OF EUR 8,731 THOUSAND

* COMPANY EXPECTS A SIGNIFICANT INCREASE IN NUMBER OF PATIENTS TREATED IN BOTH GERMANY AND POLAND IN FINANCIAL YEAR 2020, WHICH WILL HAVE A POSITIVE EFFECT ON EARNINGS

* SIGNIFICANT OPERATING LOSS IS ALSO EXPECTED FOR FINANCIAL YEAR 2020

* IT CAN BE ASSUMED THAT CORONA PANDEMIC WILL AFFECT OUR FORECASTS, EXACT SCOPE OF WHICH CANNOT BE ESTIMATED AT THIS TIME Source text for Eikon: Further company coverage: (Gdansk Newsroom)

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