Arterra Bioscience (ARBS) H1 2024 earnings summary

Executive summary

• Revenue for the six months ended June 30, 2024, increased by 39% year-over-year, driven by higher sales of cosmetic raw materials, especially in Europe, the USA, and a recovery in China.

• Net profit for the period was €517,261, more than double the €248,610 reported in the same period last year.

• The company distributed dividends of €665,849 during the period.

• No significant audit issues were identified; the interim financial statements were prepared in accordance with OIC 30.

Financial highlights

• Revenue: €2,250,697 (up from €1,592,792 year-over-year).

• Total production value: €2,318,455 (up from €2,119,407 year-over-year).

• Operating profit before tax: €632,349 (up from €264,809 year-over-year).

• Net profit: €517,261 (up from €248,610 year-over-year).

• Cash and cash equivalents at period end: €3,427,300 (down from €3,685,690 at year-end 2023).

Outlook and guidance

• The company expects initial feedback from a new joint venture in exosome development by late 2024 or early 2025.