- Better profitability despite the inflation
- Confirmed growth outlook for the 2022 financial year
- Increase in services provided to platforms operated on behalf of third parties
EVRY, FRANCE, TUESDAY OCTOBER 18TH 2022, 7.30AM – IntegraGen (FR0010908723 – ALINT – Eligible PEA PME), IntegraGen, a company specializing in the decryption of the human genome, which carries out interpretable genomic analyzes for academic and private laboratories and develops diagnostic tools in oncology and part of OncoDNA Group, today announced its half results for the period ending June 30, 2022. The interim accounts were approved by the company’s Board of Directors which met on October 14th, 2022.
Bernard Courtieu, CEO IntegraGen, said: « After two years strongly impacted by the pandemic and, in particular, a difficult year 2021 in all respects, 2022 should mark a form of return to normal. However, the economic context has been made difficult due to inflation, which has an impact on the purchases of reagents and energy, in an overall economic context that is, to say the least, uncertain. However, IntegraGen’s financial results in the first half of 2022 are again clearly improving both in terms of turnover and operating profit. This is explained in particular by the increase in the activities of the external platforms operated by IntegraGen, as well as by that of the genomic services carried out in our laboratory in Évry. The commercial synergies with the OncoDNA Group are beginning to generate growth with new customers identified by the Group, and confirm the interest of this operation. We would like to thank all our customers who have remained loyal to us during the pandemic period and also, above all, all the laboratory and development employees who, through their dedication, have enabled IntegraGen to successfully pursue its development while contributing to the projects of the researchers as well as clinicians and, ultimately, to improving patient care. »
FINANCIAL HIGHLIGHTS
- Profit & loss
In thousands of euros (€k) | 2021 | 2020 | Var. % |
Revenues | 6.764 | 5.014 | 35% |
Other operating revenues | 169 | 124 | |
Total revenues | 6.933 | 5.138 | 36% |
EBITDA | -79 | -331 | |
EBIT | -194 | -447 | 57% |
Pre-tax current result | -249 | -468 | |
Net result | -141 | -411 |
Revenues for the first half of 2022 amounted to €6,764k, up 35% compared to the first half of 2021. Excluding the recharge of personnel costs to the parent company (€351K), revenue was €6,413k, representing a growth of 33%. This dynamic reflects the strong recovery in general economic activity during the period, compared with H1 2021, where the first quarter was significantly impacted by the pandemic. The recovery is visible in all business segments.
Operating income amounted to €6,933k compared to €5,138k in the first half of 2021 after taking into account transfers of charges and reversals of depreciation and provisions as well as subsidies.
Operating expenses amounted to €7,127k, up by 28% compared to the first half of 2021. This change is explained by various factors including the increase in production costs, in particular under the effect of the inflation, higher sales and marketing expenses and higher payroll costs. At the end of June 2022, the company had 57 employees. This increase also illustrates the investments in Quality within the framework of the certifications of the Évry laboratory.
Operating income before tax, amortization and depreciation (EBITDA) represents a limited loss of €79K compared to -€447k in the first half of 2021, thanks to the business growth.
After taking into account the financial and exceptional results, the net result shows a loss of -€141k compared to -€411k in the first half of 2021.
- Balance sheet
In thousands of euros (€k) | 30/06/2022 | 31/12/2021 |
Fixed assets | 549 | 624 |
Stock | 444 | 342 |
Accounts receivables | 3,276 | 3,358 |
Other receivables | 335 | 491 |
Cash | 4.489 | 4.781 |
Current assets | 8.810 | 8.972 |
Translation difference | 17 | 8 |
TOTAL ASSETS | 9.376 | 9.604 |
In thousands of euros (€k) | 30/06/2022 | 31/12/2021 |
Shareholder’s equity | 2.044 | 2.186 |
Provisions for risks and charges | 17 | 8 |
Financial debt | 1.886 | 1.953 |
Advances received from customers | 260 | 430 |
Accounts payables | 3.682 | 3.552 |
Other payables | 1.487 | 1.475 |
Translation difference | 0 | 0 |
TOTAL LIABILITIES | 9.376 | 9.604 |
The available cash amounts to €4,489k at the end of June 2021 or a variation of -€292k compared to the situation as of 31 December 2021. This moderate change is in line with the previous period. The cash position includes a State Guaranteed Loan (PGE) of €1,763k obtained last year in the context of the Covid-19 pandemic. The reimbursement over a period of 5 years has started in June this year
OUTLOOK 2022: CONTINUED GROWTH EXPECTED
IntegraGen intends to pursue revenue growth in 2022 based on the order book to be delivered and the positive trend observed in the market with academic and private clients.
The completed integration within the OncoDNA group confirms IntegraGen’s commercial development perspectives outside of France.
The available cash will finance operational and investment needs.
ABOUT INTEGRAGEN
IntegraGen is an OncoDNA group company specializing in the genomics of cancer and rare genetic diseases. Backed by highly competent and qualified teams, IntegraGen is a leading player in DNA sequencing services and genomic data interpretation software. The company runs one of the largest NGS labs in France and operates for research institutes of excellence. As part of OncoDNA group, IntegraGen leverages the power of next generation sequencing with the mission of delivering the promise of precision medicine to patients. IntegraGen has about 50 employees and generated €10,8 million of turnover in 2021. Based in France, IntegraGen is part of the Belgian OncoDNA group present in Spain, UK, Germany and works with an international network of 35 distributors. The Group also provides biomarker testing and clinical interpretation tools to guide treatment and monitoring of latestage solid tumors and accelerate the development of new cancer drugs.
IntegraGen is listed on Euronext Growth in Paris (ISIN: FR0010908723 – Mnemo: ALINT – Eligible PEA- PME).
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CONTACTS
INTEGRAGEN
Bernard COURTIEU – CEO
Pierre FLAMANT – CFO
Tél. : +33 (0)1 60 91 09 00
NEWCAP
Investor and Media Relations
Louis-Victor DELOUVRIER
Tél. : +33 (0)1 44 71 98 53