(Boursier.com) — AB Science SA communicates a correction to the consolidated accounts as of December 31, 2023.
The reversal of an accounting entry in the valuation of financial instruments generated an error in the consolidated financial result. This accounting entry has no impact on the company accounts and no impact on the financial situation of the company.
The 2023 annual financial report is available on the company’s website.
CONSOLIDATED FINANCIAL ELEMENTS FOR THE YEAR 2023
The operating profit as of December 31, 2023 corresponds to a loss of 13,429 KE, compared to a loss of 15,937 KE as of December 31, 2022, i.e. a reduction in the operating deficit of 2,508 KE (15.7%).
Operating income, consisting exclusively of turnover linked to the exploitation of a medicinal product in veterinary medicine, amounted to 970 KE as of December 31, 2023, compared to 958 KE a year earlier.
Operating expenses decreased by 14.8% between the financial years ended December 31, 2023 and 2022. This decrease is mainly linked to the drop in research and development expenses (decrease of 21.5%).
Marketing expenses are stable compared to December 31, 2022, increasing from 480 KE as of December 31, 2022 to 522 KE as of December 31, 2023.
Administrative expenses are stable compared to December 31, 2022, going from 3,040 KE on December 31, 2022 to 3,017 KE on December 31, 2023.
Research and development costs decreased by 2,868 euros, or 21.5%, from 13,345 KE as of December 31, 2022 to 10,477 KE as of December 31, 2023.
The financial result for the financial years ending December 31, 2022 and December 31, 2023 amounted to 2,326 KE and 1,444 KE respectively. In 2023, as in 2022, this financial result mainly has no impact on cash flow. This financial result of 1,444 KE includes a product of 3,320 KE (versus 3,167 KE in 2022) resulting from the valuation of these financial instruments, and a financial charge of 2,521 KE (versus 948 KE in 2022), of which 941 KE corresponds to the provision capitalized interest linked to the loan with the EIB as of December 31, 2023.
The consolidated net loss amounted to 11,985 KE as of December 31, 2023, compared to a loss of 13,615 KE as of December 31, 2022, a decrease of 12%.
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