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  FERMENTALG company press release from 04/04/2024

  04/04/2024 - 10:05

After a difficult 2023, Fermentalg confirms in 1st quarter 2024 the return to growth and secures its 2024 sales target


Libourne - April 3, 2024 - Fermentalg, the French leader in microalgae listed on Euronext (FALG), today unveils its unaudited sales figures for the 1st quarter of 2024, which confirm the new commercial momentum resulting from the 2024 - 2026 strategic plan unveiled at the end of 2023[1] in favor of profitable and sustainable growth. The Company confirms its targets for 2024 and 2026.

Sales up 77% in 1st quarter 2024...

In the 1st quarter of 2024, Fermentalg posted sales of €2.7 million, up 77% on the same period of 2023, and in line with the announced annual target. This is Fermentalg's best sales quarter since the beginning of 2022, confirming its new sales momentum after the 2023 slump.

As announced at the start of the year, this performance is the fruit of the company's new sales policy, aimed both at winning over new customers, particularly in market segments that had previously been little or not prospected at all, and at establishing long-term contractual relationships with these customers, to ensure greater visibility and recurrent sales.

In the 1st quarter 2024, half of all invoiced customers were new, with first deliveries in the animal feed segment. Fermentalg has noted an upturn in business in North America, which accounted for two-thirds of sales in the first quarter. 80% of sales are generated by framework contracts, providing visibility over 12 to 24 months.

...and an enhanced commercial offering...

Since the beginning of the year, Fermentalg has also pursued its development efforts to broaden its product offering. These efforts should enable the Company to provide the products and solutions best suited to customer demand, and to continue signing long-term supply contracts with these customers.

...to confirm financial targets

At the end of March, Fermentalg had already secured more than €10 million in orders and contracts for 2024, enabling it to be slightly ahead of schedule and secure its sales target of €10 million for the full year.

The Company will shortly be reporting on its new industrial and commercial advances, linked in particular to the strategic partnership with the HuvePharma group, which support growth ambitions to reach over €25 million in sales by 2026.

Next publication: 1er half-year sales 2024,
July 4, 2024 (after market close)

About Fermentalg

An expert in the research and bioindustrial exploitation of microalgae, Fermentalg aims to offer sustainable solutions and innovative products that contribute to the development of healthy, natural and high-performance products. Our business: the development, production and marketing of sustainable solutions and active ingredients derived from microalgae, for nutrition, health and the environment. Nutritional lipids, alternative proteins, natural food colorings and innovative environmental solutions make up our company's current and future offering. Fermentalg shares are listed on Euronext Paris (FR0011271600 - FALG), and are eligible for PEA-PME and long-only SRD. It has received an Exemplary rating (90/100) from EthiFinance ESG Ratings, a rating agency specializing in the ESG performance of SMEs listed on European markets, in favor of Socially Responsible Investment (SRI). 

For further information: www.fermentalg.com

         
Contact for journalists: Investor Relations :
ACTUS finance and communication
Fatou-Kiné N'DIAYE
Telephone: +33 (0)1 53 67 36 34
fndiaye@actus.fr
ACTUS finance and communication
Jérôme FABREGUETTES LEIB
Telephone: +33 (0)1 53 67 36 78
fermentalg@actus.fr

[1] New strategic plan 2024 - 2026 and major industrial partnership // Acceleration towards a profitable and sustainable growth model


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  Original Source: FERMENTALG