Formycon Reveals Preliminary 2023 Financial Results and 2024 Forecast

• Formycon AG published preliminary figures for the 2023 financial year and provided guidance for the 2024 financial year.
• For 2023, the company expects EBITDA to be around EUR 1.5 million, a consolidated net result of around EUR 75.8 million, and working capital to be around EUR 38.9 million.
• The revenue for 2023 is expected to be around EUR 77.7 million, within the forecasted range of EUR 75 million and EUR 85 million.
• For 2024, the company expects revenues of between EUR 55 million and EUR 65 million, EBITDA of between EUR -15 million and EUR -25 million, and working capital to be between EUR 10 million and EUR 20 million.
• The company will use Adjusted EBITDA as a new key performance indicator in future financial reporting instead of the net result.
• The final figures and the annual report for the 2023 financial year will be published on 25 April 2024.

The next important date, Publication of consolidated/annual financial statements, at Formycon is on 25.04.2024.

The price of Formycon at the time of the news was 46,40EUR and was down -0,05 % compared with the previous day.
13 minutes after the article was published, the price was 47,00EUR this corresponds to a plus of +1,29 % since publication.

Formycon

+2,94 %

+6,13 %

-11,18 %

-16,68 %

-41,20 %

-38,38 %

+15,77 %

+505,03 %

+364,25 %

ISIN:DE000A1EWVY8WKN:A1EWVY

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