BRAIN Biotech AG: Review of the first quarter of the 2023/24 financial year

BRAIN Biotech AG announces financial results for the first three months of the 2023/24 fiscal year, with an optimistic outlook for the year. Despite a 7% drop in revenues totaling 12.7 million euros, the company is banking on accelerated growth in its BioProducts sector. The BioScience segment is starting the year strong, generating revenue of €3.4 million, up 13.5%.

The company anticipates a range of annual revenues between 58 and 62 million euros, and hopes to improve its adjusted EBITDA in line with sales progress. Total operating results showed a slight decrease of 3.1%, reaching 13.1 million euros.

The group's adjusted EBITDA decreased, reaching -€0.7 million, with varying performance by segment. The BioProducts sector saw a decline in revenue and EBITDA, attributed to a difficult comparison with the previous year and a slower start of activities. Conversely, the BioScience segment showed growth, thanks in particular to AnalytiCon Discovery and good cost management.

Management remains confident in continued organic growth and stable cash position, while expanding financial instruments to support BRAIN Biotech AG's future growth plans.