BALYO Announces Its 2022 Half-year Results - Seite 2

2022 Half-Year financial results

In € million

H1 2022

H1 2021

Change

Sales revenue

8.29

9.61

-14%

Cost of sales

-5.43

-5.50

-1%

Gross profit

2.86

4.11

-30%

Gross margin rate

35%

43%

-19%

Research and Development

-2.46

-2.00

+23%

Sales and Marketing

-1.48

-1.07

+38%

General and administrative expenses

-3.68

-2.72

+35%

Share-based payment expense

-0.21

-0.11

+91%

Operating loss

-4.98

-1.70

-193%

Financial expense

-0.02

-0.02

-

Net loss

-5.00

-1.72

-191%

Cash position (as of June 30)

6.68

6.37

 

The decline in revenues during the period, together with a stable cost of sales compared to last year, resulted in a decline in gross margin to €2.9 million and a gross margin rate of 35% compared to €4.1 million and 43% in H1 2021.

Operating expenses amounted to €7.6 million, up 32% compared to the first half of 2021. This change is mainly due to higher personnel expenses related to the increase in the number of employees, travel expenses as well as external services. Expenses allocated to R&D, Sales and Marketing and General Expenses are up respectively by 23%, 38% and 35%.