Theradiag Announces Its 2023 Half-Year Results and Reports a Significant Improvement in Profitability
18 Settembre 2023 - 7:30AM
Business Wire
- Strong 12.5% growth in operating margin, reflecting the
significant improvement in industrial margins in Theradiag two core
businesses and the stop of operations in the United States
- Cash position under control at €5.7 million at June 30, 2023
and increasing over Q2 2023
Regulatory News:
THERADIAG (ISIN: FR0004197747, Mnemonic: ALTER), a
company specializing in in vitro diagnostics and theranostics,
today announced its half-year results to June 30, 2023, as approved
by the Board of Directors on September 14, 2023.
2023 Half-year results
In thousands of euros
H1 2023
H1 2022
% change
Revenue
6,701
6,264
+7.0%
of which: Theranostics
3,569
3,027
+17.9%
of which: IVD
3,132
3,236
-3.2%
Operating profit/(loss)
835
-129
NA
Income/(loss) before tax and non-recurring
items
793
-173
NA
Net income/(loss) before non-recurring
items
921
-56
NA
Net-recurring items
-67
0
NA
Net income/(loss)
853
-56
NA
Simon DAVIERE, CEO of Theradiag, commented: "In the first
half of 2023, the company reported good profitability, with an
operating margin of 12.5%. The achievement of this level of
profitability is the result of the efforts made by all our teams,
whom I would like to thank, of Theradiag unique historical
positioning in the biotherapy monitoring market, and of the
strategic choices made in recent half-years, including the
strategic reorientation carried out in the United States. In the
coming months, Theradiag will focus on continuing to deploy its
profitable growth and developing synergies with its majority
shareholder, Biosynex."
"The company's strategic plan is on schedule and Theradiag has
posted good results for the first half of 2023. Based on healthy
cost structure, Theradiag will continue, barring unforeseen events,
to generate profits by meeting the substantial and growing demand
in the biotherapy monitoring market. In particular, it will be able
to take advantage of Biosynex's structure and commercial resources
to accelerate this deployment" added Christian POLICARD,
Chairman of the Board of Directors.
Growth driven by exports and I-TRACKER® revenue
Over the six months to June 30, 2023, Theradiag generated
revenue of €6.7 million, compared with €6.3 million in the same
period of 2022, an increase of 7.0%.
Theranostics activity recorded another semester of solid
growth, with an increasing by +17.9% to more than €3.0 million at
June 30, 2023, thanks to the sales momentum of the i-Tracker® range
of tests adapted to the i-Track10 automated system. Geographically,
this strong growth was driven by very good export performances
outside the United States, and by solid growth in France,
offsetting lower sales in the US market.
IVD (In Vitro Diagnostics) activity recorded a slight
decline in sales of -3.2% to around €3.1 million at the end of June
2023. Sales contracted in France compared with an exceptional
first-half 2022 figure linked to non-recurring commercial
opportunities. This slowdown in domestic sales was partly offset by
commercial developments in key European markets, notably the
strategic partnership signed with Quotient.
Strong growth in profitability indicators, reflecting the
improvement in the margin in Theradiag's two core businesses and
the cessation of activities in the United States
Over the first half of 2023, Theradiag’s operating profit
reached a record level of €835 thousand. The achievement of an
operating margin of 12.5% is the result of:
- The progression of higher-margin products in the company's
sales, mainly due to growth in the share of autoimmunity sales in
the IVD segment and in the share of test sales in the Theranostics
segment;
- The reception of milestone payments from Quotient following the
strategic partnership;
- The optimization management of operating expenses, mainly due
to the cessation of operations in the United States.
Overall, based on the same momentum, total net result improved
significantly to €853 thousand at June 30, 2023, compared with a
loss of -€56 thousand at June 30, 2022.
Cash position
At June 30, 2023, Theradiag's net cash position amounted at €5.7
million, a level higher than the company's business plan and
increasing during the second quarter of 2023, compared with €6.4
million at December 31, 2022.
Next financial press release :
- 2023 Third-quarter Revenue, Wednesday, October 11,
2023
About Theradiag
Theradiag is the market leader in biotherapy monitoring.
Capitalizing on its expertise in the diagnostics market, the
Company has been developing, manufacturing and marketing innovative
in vitro diagnostic (IVD) tests for over 30 years.
Theradiag pioneered “theranostics” testing (combining therapy
with diagnosis), which measures the efficacy of biotherapy in the
treatment of chronic inflammatory diseases. Going beyond mere
diagnosis, Theranostics aims to help clinicians set up “customized
treatment” for each patient. This method favors the
individualization of treatment, evaluation of its efficacy and the
prevention of drug resistance. In response to this challenge,
Theradiag develops and markets the CE-marked TRACKER® range, a
comprehensive solution of inestimable medical value.
The Company is based in Marne-la-Vallée, near Paris, has
operations in over 70 countries and employs over 60 people. In
2022, the Company posted revenue of €12.2 million. The Theradiag
share is listed on Euronext Growth Paris (ISIN: FR0004197747) and
is eligible for the French PEA-PME personal equity plan.
For more information about Theradiag, please visit our website:
https://www.theradiag.com/
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version on businesswire.com: https://www.businesswire.com/news/home/20230917187950/en/
Theradiag Simon Davière CEO contact@theradiag.com
NewCap Financial Communications & Investor Relations
Pierre Laurent / Quentin Massé Tel.: +33 (0)1 44 71 94 94
theradiag@newcap.eu NewCap Media Relations Arthur
Rouillé Tel.: +33 (0)1 44 71 94 94 nmerigeau@newcap.fr
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