(Boursier.com) — Amoeba did not generate any revenue in the 1st half of 2022. Its operating income stood at -2.86 million euros as of June 30 (-2.88 ME in the 1st half of 2021).
The financial result mainly includes interest charges related to bank loans for -1.55 ME (-1.43 ME in the 1st half of 2021) and changes in fair value on financial derivatives for -335 kE (154 kE in 2021 ). the half-year net income thus stands at -4.73 ME.
The company’s cash as of June 30, 2022 amounted to €2.75 million (€7.27 million as of December 31, 2021). The company’s equity amounts to 3.7 ME (0.2 ME as of December 31, 2021).
The company’s financial debt amounts to 4.8 ME. It mainly consists of the OCAPI loan (4.3 ME) and debts related to rental obligations (0.4 ME), the BEI loan having been fully repaid on June 30, 2022.
Recent developments and prospects
This first half was mainly marked by the progress of regulatory marketing files, the continued development of the biocontrol application and the early repayment of the BEI loan.
Following the US EPA’s favorable pre-decision on the use of the Willaertia Magna C2c Maky amoeba in closed cooling systems, Amoéba is currently refining its market analysis on this restricted type of system in order to assess its marketing potential.
On September 29, 2022, the company received from the United States Environmental Protection Agency (US EPA) a favorable pre-decision following the evaluation of the authorization application file for Lysat of Willaertia magna C2c Maky as biocontrol active substance (biopesticide) usable in agriculture.
Amoeba is continuing its project to set up its first biocontrol plant. This plant would be located in France and should be operational in 2024 to satisfy the start of the marketing of biocontrol products. It should represent an investment estimated between 15 and 17 million euros for which Amoéba will have to seek new financing from the 4th quarter of 2022.
At the date of closing the accounts, the company has sufficient net working capital to meet its obligations and its cash requirements over the next 12 months, the company believing that it will be able to meet its commitments.