J. Molner (MOLNR) H2 2022 earnings summary

Executive summary

• Biotechnology R&D business operated in third-party analytical and development services and its own generic pharmaceutical pipeline; 2022 revenue was €191,657.

• Resources shifted toward proprietary product development and relaunching acquired US products, limiting external services capacity in Q4; one project moved to Q1 2023.

Financial highlights

• Revenue was €191,657 in 2022 versus €505,260 in the comparative period; comparative data covers 15 months.

• Operating loss was €584,325 versus €307,146; net loss was €620,098 versus €327,753.

• Other income was €6,570, with €226,756 of work performed by the entity and capitalised.

• Interest expense rose to €72,340 from €16,369; other financial income and expense was positive €36,567 versus a €4,238 expense.

Outlook and guidance

• First regulatory submission for a manufacturing-site change on acquired US products was anticipated in Q3 2023.

• Second Canadian drug submission was expected in Q1 2023; approval of the first Canadian drug was anticipated during 2023.

• Management planned to restore net assets to statutory requirements in future periods by increasing turnover.