Half-year report 2024 of Bio-Gate AG
Bio-Gate AG publishes half-year report 2024 and confirms annual forecast
02.10.2024
Bio-Gate AG has published its half-year report for the 2024 financial year. In the first six months of the year, the company increased its turnover by 9.4% to EUR 3.5 million, compared to EUR 3.2 million in the same period of the previous year. This increase is largely due to the strong performance in the Dermacosmetics and Wound Care segment.
EBITDA fell to -1.0 million euros, compared to -0.6 million euros in the previous year, which is primarily due to higher upfront expenditure for new projects and increased costs for sales support and studies. The net result after taxes and minority interests in the loss amounted to -1.1 million euros, compared to -0.7 million euros in the previous year.
The balance sheet shows a decrease in current assets to 2.5 million euros, compared to 3.3 million euros as at 31.12.2023. Equity also fell to 2.4 million euros, compared to 3.5 million euros as at 31.12.2023. The equity ratio fell to 53.4%, compared to 65.6% in the previous year. At the same time, borrowed capital increased to 2.1 million euros, compared to 1.8 million euros as at December 31, 2023.
In the individual business segments, Bio-Gate recorded an increase in sales in the Dermacosmetics and Wound Care segment to 1.97 million euros (previous year: 1.32 million euros). The Medical Technology division achieved sales of 0.39 million euros (previous year: 0.21 million euros), while sales in the Animal Care division fell to 0.83 million euros (previous year: 1.20 million euros). Turnover in the Industry and Hygiene division fell to 0.09 million euros (previous year: 0.25 million euros). Sales at the subsidiary QualityLabs BT GmbH remained stable at EUR 0.23 million.
For the full year 2024, Bio-Gate AG confirms its forecast of a significant increase in sales and an improvement in EBITDA and consolidated net income. These expectations are based on the assumption that there are no significant delays in current projects and that product marketing proceeds according to plan.
