(Boursier.com) — Alpha MOS concludes the first half of 2023 with a turnover of 2.74 million euros, up +14% (2.4 ME in the first half of 2022),
After slightly increasing external charges (1.01 ME vs 951 kE), mainly within the Medtech branch, EBITDA stood at -1.56 ME (-955 kE in the first half of 2022).
The operating result for the 1st half is -1.53 ME (-1.24 ME a year earlier), with stable depreciation charges and other operating income linked to the partial activation of the European subsidy obtained in 2022 for the Medtech segment.
As the net financial charges are higher than last year given the evolution of the financial debt, the net profit is -2 ME, or 0.7 ME less than in the first half of 2022due to inflationary impacts and the mobilization of significant resources for development on major accounts.
Financial situation
With a result of -2.01 ME recorded over the half-year, shareholders’ equity stood at -5.68 ME at the end of June.
The change in cash flow over the period is -2.39 ME, under the effect induced by the result and an increase in WCR of approximately +0.8 ME, mainly on the customer item, since cleared. The financial debt net of cash is -5.19 ME as of June 30, and is made up of 5.97 ME of financial debts (excluding rental obligations, 752 kE) and 784 kE of cash.
This level of cash flow is not sufficient to finance the operational development plan of the company over the next 12 months and in particular the needs linked to the continued development of the MedTech project. The company is considering different hypotheses in order to strengthen its financial structure and is particularly favoring obtaining external financing to finance this plan.
Alpha MOS has established a scenario in case these operations do not succeed.
Outlook
Alpha MOS confirms its objective of achieving growth over the whole year.
Furthermore, the Medtech subsidiary BOYDSense successfully concluded its 2nd clinical study carried out with the Toulouse University Hospital in June. The results, which will soon be the subject of scientific publications, support BOYDSense in the development of its glucose monitoring device by breath analysis for diabetics.
Faced with the expected increase in losses, shareholder support helps guarantee business continuity.