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Formycon Announces Half-Year Results for 2020

DGAP-News: Formycon AG / Key word(s): Half Year Results/Miscellaneous Formycon Announces Half-Year Results for 2020 23.09.2020 / 07:00 The issuer is solely responsible for the content of this announcement.

Press Release // September 23, 2020

Formycon Announces Half-Year Results for 2020

- Group turnover of Euro 16.5 million corresponds to forecasts

- EBITDA of Euro -0.9 million and half-year result of Euro -1.35 million in line with expectations

- Significant progress in late-stage projects, the expansion and further development of the company's own pipeline and in organizational development

Munich - Formycon AG (ISIN: DE000A1EWVY8/ WKN: A1EWVY) has today announced its financial results for the first half of 2020.

On the day of reporting, June 30, 2020, the Formycon Group's commercial figures developed as forecasted. The Group's turnover which, in addition to the joint-stock company also includes the two fully consolidated subsidiaries Formycon Project 201 GmbH and Formycon Project 203 GmbH, as well as the shareholding in FYB 202 GmbH & Co. KG, which is not consolidated, totaled Euro 16.5 million in the first six month of 2020 (H1/2019: Euro 17.2 million).

During the company's current phase, the Formycon Group continues to focus on research and development activities for its own and out-licensed biosimilar projects as well as its own COVID-19 project. The development services for the out-licensed or partnered projects are also the source of the current revenue returns. Following the successful approval of these products, Formycon also participates in the subsequent marketing revenues.

Consolidated earnings before interest, tax, depreciation and amortization (EBITDA) amounted to Euro
-0.9 million (H1/2019: Euro -0.2 million), the operating result (EBIT) totaled around Euro -1.4 million (H1/2019: Euro -0.7 million). As of June 30, 2020, the Group period result was Euro -1.4 million compared to Euro -0.7 million in the same period last year.