EQS-Adhoc: Formycon AG publishes preliminary figures for the 2023 financial year and guidance for the 2024 financial year

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.

The Company will publish the final figures and the annual report for the 2023 financial year on 25 April 2024.

Contact:
Sabrina Müller
Director Investor Relations and Corporate Communications
Formycon AG
Fraunhoferstr. 15
82152 Planegg-Martinsried
Germany

phone +49 (0) 89 – 86 46 67 149 | fax + 49 (0) 89 – 86 46 67 110
[email protected] // www.formycon.com

Disclaimer
Certain statements contained in this release may constitute "forward-looking statements" that involve a number of risks and uncertainties. Forward-looking statements can generally be identified by the use of the words "may," "will," "should," "plan," "expect," "anticipate," "estimate," "believe," "intend," "project," or "aim," or the negative of these words or other variations of these words or comparable terminology. Forward-looking statements are based on assumptions, forecasts, estimates, projections, opinions or plans that, by their nature, are subject to significant risks and uncertainties and contingencies that are subject to change. The Company does not and will not give any assurance that any forward-looking statement will be achieved or prove to be accurate. Actual future business, financial condition, results of operations and prospects may differ materially from those projected or anticipated in the forward-looking statements. Subject to applicable legal requirements, neither the Company nor any other person intends to update, review, revise or revise any forward-looking statements in this release to reflect actual events or developments, whether as a result of new information becoming available, new developments occurring in the future or otherwise, nor does it undertake any such obligation.