May 14, 2020 / 6:23 AM / 3 months ago

BRIEF-Novacyt FY Net Loss Widens To 6.6 Million Euros

May 14 (Reuters) - NOVACYT SA:

* FY NET LOSS -6.6 MILLION EUR VERSUS -4.7 MILLION EUR LOSS YEAR AGO

* FINAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2019 AND OUTLOOK FOR 2020

* EXPECT 2020 TO BE TRANSFORMATIONAL FOR BUSINESS IN ALMOST EVERY WAY

* CONTINUED SIGNIFICANT DEMAND FOR COVID-19 TEST EXPECTED TO BE TRANSFORMATIONAL FOR GROUP IN 2020

* DIRECTORS BELIEVE SIGNIFICANT DEMAND FOR COMPANY’S COVID-19 TEST WILL CONTINUE THROUGH TO END OF YEAR, AND MAY EXTEND WELL INTO 2021, AS GLOBAL DEMAND FOR COVID-19 TESTING CONTINUES TO INCREASE

* FOUR MONTHS TO END OF APRIL 2020, GROUP ACHIEVED AN EBITDA MARGIN IN EXCESS OF 50% DRIVEN BY SUCCESS OF COVID-19 TEST

* AND AS OF END OF APRIL 2020, GROUP HAD A NET CASH BALANCE OF EUR 9.2M

* CASH AT YEAR END OF EUR 1.8M (£1.5M) COMPARED WITH EUR 1.1M (£1.0M) IN 2018

* ADJUSTED EBITDA OF EUR 0.2 MILLION IN 2019 COMPARED WITH EUR 0.6 MILLION IN 2018

* COMPANY’S SIGNIFICANT INCREASE IN FINANCIAL PERFORMANCE IS EXPECTED TO CONTINUE THROUGHOUT 2020 Source text for Eikon: Further company coverage: (Gdansk Newsroom)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below