Correction of the Consolidated Accounts of AB Science for 2023

AB Science announced on May 17, 2024 a correction of errors in its consolidated accounts as of December 31, 2023. A reversal in the valuation of financial instruments had been identified, impacting the consolidated financial result without however affecting the corporate accounts or the overall financial situation of the company.

The financial year 2023 shows a reduction in the company's operating deficit, with an operating loss of 13.429 million euros, down 15.7% compared to the previous year. This decline is mainly attributed to the reduction in research and development spending, which decreased by 21.5%. The turnover, generated exclusively by a veterinary medicinal product, increased slightly, reaching 970,000 euros.

The financial result for the year, affected by the correction, shows a profit of 1.444 million euros, mainly resulting from the valuation of financial instruments. Financial charges were marked by an increase, mainly due to the increased provisioning of interest relating to a loan. The full financial report for 2023 is available on the company's website.