Bio-Gate (BIG1) H1 2024 earnings summary

Executive summary

• Revenue grew over 9% year-over-year to €3.51 million in H1 2024, driven by MedTech and dermacosmetics, despite declines in veterinary and hygiene segments.

• EBITDA and net result declined due to higher material and personnel costs, as well as increased investments in sales and project development.

• MedTech, especially orthopedics, and dermacosmetics were key growth drivers, while veterinary and hygiene saw lower sales due to prior-year one-offs and weak demand.

• The company continued to expand its international distribution network and intensified collaboration with global distributors.

Financial highlights

• Revenue: €3.51 million (up from €3.21 million year-over-year).

• EBITDA: -€957k (down from -€560k year-over-year).

• EBIT: -€1.07 million (down from -€694k year-over-year).

• Net result: -€1.08 million (down from -€698k year-over-year).

• Operating cash flow: -€1.12 million (prior year: -€1.06 million).

• Cash and equivalents: €476k (down from €1.33 million at year-end 2023).

• Equity: €2.35 million (down from €3.45 million at year-end 2023); equity ratio: 53.4%.

Outlook and guidance

• Management confirms guidance for significant revenue growth and improved EBITDA and net result for full-year 2024, contingent on timely project progress and successful product commercialization.