(CercleFinance.com) – Global Bioenergies recorded a sharp decline on Wednesday on the Paris Stock Exchange following half-year results marked by a reduction in its losses, the absence of quantified forecasts seeming to disappoint investors.
The stock is currently losing nearly 3% in high volumes, well above those of recent sessions.
The plant chemistry specialist announced last night that the achievement of a ‘record’ turnover in the first quarter had enabled it to reduce its net loss over the period to 4.1 million euros, compared to -5 .8 million a year earlier.
The group thus generated a turnover of 3.1 million euros over the first six months of the year, compared with only 144,000 euros over the same period of 2022.
In order to respond to orders placed by big names in the cosmetics field, including L’Oréal, Global Bioenergies delivered several tonnes of its compound Isonaturane 12 during the first half of 2023.
But the company emphasizes that the production costs linked to the subcontracting of the activity remain very high, which pushes it to concentrate all its efforts towards the construction of a larger factory.
Global Bioenergies announced that it would publish by the end of the year a schedule of the design and construction stages of the site, which is expected to begin operations at the end of 2027.
The company has, however, not communicated any financial forecasts for this year.
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