Clermont-Ferrand, 15 November 2016 – METabolic EXplorer, a biological chemistry company that specialises in developing manufacturing bioprocesses for bio-based compounds used in a wide range of everyday products, including textile fibres, animal feed supplements and resins, today published its FINANCIAL data for the third quarter of 2016.
METabolic EXplorer reported turnover of €388,000 in the third-quarter of 2016. As in the previous quarters, this amount corresponds to the contractual revenues generated over the period as part of the development agreement signed with the Finnish group UPM, a world leader in the forest and paper sector. METabolic EXplorer reminds that this agreement concerns the development of the first biological MPG production process resulting from the fermentation of second-generation cellulosic sugars.
|Turnover (IFRS) – €'000||2015||2016|
|Combined turnover (9 months)||345||1,316|
As of September 30 2016, the company's gross cash position under IFRS standards is the same than as of June 30 2016, and stood at €5.2 million. METabolic EXplorer further specifies that this amount, as of September 30 2016, includes the research tax credit payment (€2 million) received at the end of July.
The cash at hand net of debt under IFRS standards amounted to -€1.9 million as of September 30 2016, compared with -€2.6 million as of June 30 2016. METabolic EXplorer points out that gross debt under IFRS standards (€7.1 million) takes into account the advances received and repayable in the event of success and of commercialisation, or €3.3 million. The cash at end net of debt excluding repayable advances thus comes out at €1.4 million (under IFRS standards).
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About METabolic EXplorer - www.metabolic-explorer.com
METabolic EXplorer is a biological chemistry company founded in 1999. Its aim is to harness its biotechnological innovations to contribute to the alternative production of consumer goods in respect of the environment and in response to the new social expectations of consumers.
Based on the tried and tested principle of industrial fermentation, METabolic EXplorer's solutions replace today's petrochemical processes with the use of a wide range of plant-based raw materials. By optimizing the metabolic yield of non-pathogenic bacteria in a contained, controlled environment, the company facilitates the production of chemical compounds used in a wide range of everyday goods (textile fibres, plastics, resins, solvents or feed supplements for animal nutrition and health).
METabolic EXplorer is currently focusing its alternative processes on the production of three compounds that together have an estimated, annual, end-market value of €7 billion. The company's strategy will be implemented through industrial partnerships in the shape of licenses and joint ventures, as well as own-account production units.
METabolic EXplorer, based in Clermont-Ferrand, France, is listed on Euronext in Paris (Compartment C, METEX) and is part of the CAC Small index.
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This communication includes forward-looking information which is subject to risks and uncertainties. The potential development of the company could be substantially different from that anticipated in this press release because of the various risk factors which are described in the company's Listing Prospectus.