(Boursier.com) — The Board of Directors of PCAS met on December 20, 2022. On this occasion, the Board of Directors took stock of the difficulties encountered in the development of financial and commercial relations with a major client of the Group.
PCAS is facing significant delays in the payment of invoices corresponding to work carried out and delivered by this customer. Faced with these unjustified late payments which concern very significant sums and the impossibility until now of recovering the sums which are due amicably, the PCAS board of directors intends to implement the appropriate legal means.
The 2022 results will remain very negative, affected by a level of activity still insufficient to cover the fixed costs on several sites in Pharmaceutical Synthesis, as well as by inventory write-downs relating to non-compliant products, to which could be added write-downs of aforementioned debts.
Although it is not possible at this stage to precisely assess the consequences on future forecasts of activity and results of the difficulties encountered with this client, the return to positive results, announced for 2023, is deferred. In the meantime, the PCAS Group will continue to benefit from the support of its majority shareholder Seqens for the financing of its activities and its development.
Next financial publication: 2022 revenue, February 9, 2023
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