(AOF) – Biosynex announces 2023 turnover down 53% to 93 million euros with “a share of Covid products becoming minimal”. The diagnostic specialist posted a net loss, group share of 36.9 million euros compared to a profit of 15.6 million in 2022. The operating result was negative at 37.4 million euros, while it was positive 38.8 million last year. Operating profitability is “impacted by the drop in turnover and by restructuring costs and provisions for depreciation of Covid product stocks” underlines the company.
“With the 2023 financial year which has just ended, we are turning the page on the Covid-19 episode, and are entering a new era of development for Biosynex,” announces CEO Larry Abensur. “We have set ourselves a great ambition: to become a key player at the global level for certain market niches such as the monitoring of biotherapies. Successfully meeting these challenges normally takes a lot of time for an SME but we have been able to take advantage of cash generation emerging from the pandemic to accelerate strategic acquisitions and build centers of excellence around the world in record time.
“We must now adjust our financial structure, finish rationalizing our organization and resume a growth cycle in 2024 in order to prepare for a return to profitability in 2025,” underlines the boss.
© 2024 Agence Option Finance (AOF) – All reproduction rights reserved by AOF. AOF collects its data from the sources it considers the safest. However, the reader remains solely responsible for their interpretation and use of the information made available to them. The reader must therefore hold AOF and its contributors harmless from any claim resulting from this use. Agence Option Finance (AOF) is a brand of the Option Finance group
Did you like this article ? Share it with your friends using the buttons below.
