on GENOWAY (EPA:ALGEN)
Half-year results 2024: genOway achieves its growth objectives
The biotechnology company genOway has announced a +15% growth in its turnover, reaching €10.7 million for the first half of 2024. The results confirm the objectives of the ROUTE50+ strategic plan.
The EBITDA margin stood at 18.7%, well above the profitability threshold of 15%. Net income, however, shows a slight decline, from €1.0 million in 2023 to €0.7 million in 2024. Available cash amounts to €4.9 million, allowing genOway to finance its investments in recruitment and R&D.
The company plans to increase its workforce by 20% and step up its R&D spending to develop new models. Annual growth prospects are set at +20%, with a revenue target of €50 million by 2028.
R. P.
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