EQS-Adhoc

Formycon AG publishes preliminary figures for the 2023 financial year and guidance for the 2024 financial year

EQS-Ad-hoc: Formycon AG / Key word(s): Preliminary Results/Forecast Formycon AG publishes preliminary figures for the 2023 financial year and guidance for the 2024 financial year 12-Apr-2024 / 19:27 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. Disclosure of inside information according to Article 17 of the Regulation (EU) No 596/2014

Formycon AG publishes preliminary figures for the 2023 financial year and guidance for the 2024 financial year

Planegg-Martinsried, Germany, 12. April 2024 – Based on preliminary and unaudited figures for the 2023 financial year, Formycon AG (ISIN: DE000A1EWVY8 / WKN: A1EWVY) ("Company") expects EBITDA to be around EUR 1.5 million (guidance: EUR -5 million to EUR -15 million) due to increased revenues and lower investments in the COVID-19 project FYB207 than originally anticipated. The Company further expects a consolidated net result of around EUR 75.8 million (guidance: EUR 50 million to EUR 60 million) due to an one-off, non-cash adjustment in the context of financial income.  The working capital is expected to amount to around EUR 38.9 million (guidance: EUR 15 million to EUR 25 million). At around EUR 77.7 million, the revenue for 2023 is expected to be within the forecasted range of EUR 75 million and EUR 85 million.

For the 2024 financial year, the Company expects revenues of between EUR 55 million and EUR 65 million and EBITDA of between EUR -15 million and EUR -25 million. Adjusted EBITDA, which the Company will use as a new key performance indicator in future financial reporting instead of the net result, is expected to be between EUR -5 million and EUR -15 million in the 2024 financial year. The Company expects working capital for 2024 to be between EUR 10 million and EUR 20 million.

With respect to the definition of the alternative performance measures EBITDA and working capital, please refer to the corresponding definition in the Company's 2022 annual report (page 73 of the combined management report), which is published on the Company's website in the "Investors" section. Adjusted EBITDA is defined as EBITDA including the at-equity result from Bioeq AG, which is under joint management.