IntegraGen Reports Results for 1st Half of 2021
08 Octobre 2021 - 07:30AM
Business Wire
- Revenue growth driven by sequencing activities and strategic
investments in growth segments.
- Positive outlook confirmed for 2021 supported by synergies
following integration into the OncoDNA Group.
Regulatory News:
IntegraGen (FR0010908723 – ALINT –Eligible PEA PME), a
company specializing in the decryption of the human genome, which
performs interpretable genomic analyses for academic and private
laboratories, today announced its financial results for the first
half of 2020. The accounts were approved by the Board of Directors
at a meeting held on 7 October 2021.
Primary indicators – IN THOUSANDS
OF EUROS
H1 2021
H1 2020
Var. %
Sales
5,014
4,706
+7%
EBITDA
-331
248
n.a.
EBIT
-447
132
n.a.
Cash
4,272
5,774
Bernard Courtieu, CEO of IntegraGen, said: “IntegraGen’s
results for the first half of 2021 confirm the success of our
growth strategy despite the continued major constraints associated
with the Covid-19 pandemic. This performance confirms the soundness
of our model of focusing on genomics and has been enabled by the
trust and loyalty of our customers, as well as by the efforts and
dedication of all IntegraGen employees.
The company’s EBITDA continues to evolve because of investment
in personnel, particularly in the field of Quality Assurance and
Quality Control. This investment will enable u to expand our offer
to pharmaceutical and biotechnological customers leading to
additional growth opportunities.
Lastly, the industrial and commercial merger with the Belgian
company OncoDNA is in progress and the first synergies between the
two have proven the value of the combination of the two companies
which was finalized in 2020.”
FINANCIAL RESULTS
In thousands of euros
H1 2021
H1 2020
Sales
5,014
4,706
Operating grants and other income
124
39
Total revenue
5,138
4,745
EBITDA
(331)
248
Depreciation and other provisions
(116)
(116)
EBIT
(447)
132
Financial results
(21)
3
Exceptional results
(3)
(166)
Taxes
59
47
Net result
(411)
17
Sales revenue for the first half 2021 was 5,014 K€, up 7%
compared to 4,706 K€ during the same period in 2020. Excluding
recharge of personnel costs to the parent company (172 K€), sales
revenue amounted to 4,843 K€, an increase of 3%. These figures
exclude diagnostic business associated revenue, the assets of which
were sold at the start of 2020.
After taking into account transfers of charges and other items,
operating income amounted to 5,139 K€ compared to 4,745 K€ in the
first half of 2020.
Operating expenses amounted to 5,586 K€, up 21% compared to the
first half of 2020. This increase can be explained by various
factors including the increase of consumables cost, the recharge of
personnel costs from the parent company (170 K€), and the increase
in payroll costs as a result of hires made over the last twelve
months. At the end of June 2021, the company had 56 employees
compared to 47 a year earlier. This increase also illustrates the
investments in Quality as part of effort to obtain certifications
for our laboratory in the Évry.
EBITDA represented a loss of 331 K€ compared to a profit of 248
K€ in the first half 2020, mainly due to an increase in operating
expenses.
After taking into account exceptional items, the net result was
a loss of 411 K€ compared to a profit of 17 K€ during the first
half last year.
In thousands of euros
06/30/21
12/31/20
Fixed assets
780
874
Stock
348
238
Accounts receivables
2,409
2,141
Other receivables
174
254
Cash
4,272
5,124
Current assets
7,426
7,948
Translation difference
10
0
TOTAL ASSETS
8,217
8,822
In thousands of euros
06/30/21
12/31/20
Shareholders’ Equity
1,759
2,171
Provisions for risks and charges
10
53
Financial Debt
1,983
2,015
Accounts payables
2,984
2,778
Other payables
910
1,091
Translation difference
0
1
TOTAL LIABILITIES
8,217
8,822
The available cash IntegraGen had at the end of June 2021 was
4,272 K€ compared to 5,124 K€ at the end of December 2020. This
change was due to the flow of current transactions, change in
working capital requirements and investments in quality systems.
This cash position includes a State Guaranteed Loan (PGE) of 1,800
K€ obtained last year in the context of the Covid-19 pandemic.
Business
- Genomic Services The sales growth the company
experienced resulted from an increase of sequencing business, in
particular the activity related to outsourced platforms (+37%) and
the SeqOIA platform (+25%). Services dedicated to research
laboratories and teams in charge of clinical research were
temporarily down (-16%) despite a record in orders booked.
- Software As a reminder, the company markets
interpretation software and consulting services to its customers.
These sales are stable given the limited commercial development and
the delay in projects in recent quarters due to Covid-19
pandemic.
Outlook
IntegraGen has succeeded in months to successfully maintain a
high level of activity for the services dedicated to research as
well as for the company’s sequencing platforms for clinical use.
Orders booked as of June 30, 2021 are increased compared to the
same period of 2020, enabling sustained growth in activities for
the second half of the year. The integration into OncoDNA Group has
also opened up commercial prospects for IntegraGen through the
Group's subsidiaries and distributors, which will have an impact
for the second half of 2021.
About IntegraGen
IntegraGen is an OncoDNA group company specializing in the
genomics of cancer and rare genetic diseases. Backed by highly
competent and qualified teams, IntegraGen is a leading player in
DNA sequencing services and genomic data interpretation software.
The company runs one of the largest NGS labs in France and operates
for research institutes of excellence. As part of OncoDNA group,
IntegraGen leverages the power of next generation sequencing with
the mission of delivering the promise of precision medicine to
patients. IntegraGen has approximately 50 employees and generated
€9 million in revenue in 2020. Based in France, IntegraGen is also
present in the United States and is part of the OncoDNA group which
works with an international network of 35 distributors. The Group
also provides biomarker testing and clinical interpretation tools
to guide treatment and monitoring of late-stage solid tumors and
accelerate the development of new cancer drugs.
IntegraGen is listed on Euronext Growth in Paris (ISIN:
FR0010908723 – Mnemo: ALINT – Eligible PEA- PME).
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version on businesswire.com: https://www.businesswire.com/news/home/20211007005963/en/
IntegraGen Bernard COURTIEU CEO
Pierre FLAMANT CFO contact@integragen.com Tel: +33 (0)1 60 91 09
00
NewCap Investor and Media Relations Louis-Victor
DELOUVRIER integragen@newcap.eu Tel: +33 (0)1 44 71 98 53
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