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  FERMENTALG company press release from 04/07/2024 - Thanks to sales of EUR6.3 million, Fermentalg closes a historic 1st half-year 2024, also marked by its strategic agreement with HuvePharma

  04/07/2024 - 18:00

Thanks to sales of EUR6.3 million, Fermentalg closes a historic 1st half-year 2024, also marked by its strategic agreement with HuvePharma

Libourne - July 4, 2024 - Fermentalg (Euronext Growth / ALGAE) announces its unaudited sales for the 1er half-year 2024 and looks back on the main advances in its roadmap to consolidate its position as European leader in sustainable solutions based on marine microalgae biotechnology.

Sales momentum restored and annual target raised

As announced in its press release of 17 June 2024, Fermentalg regained a very solid sales momentum in the 1er half-year 2024.

At the end of June, the Company generated sales of €6.3 million, up 2.7 times on the 1er half-year 2023 and well above the 1er half-year 2022 (€5.2 million).

Fermentalg is thus demonstrating its ability to expand its field of activity, particularly in the premium dietary supplements and petfood segments, and to win over new industrial customers, with particularly strong momentum in North America.

Thanks to the enhanced visibility offered by the new sales policy aimed at long-term relationships with key customers, Fermentalg anticipates a similarly good 2nd half-year 2024, and confirms its new annual sales target of €12 million (raised on 17 June 2024), 3 times higher than 2023 (€4 million).

A strengthened strategic partnership with HuvePharma

The 1er half-year 2024 was also marked by a significant strengthening of ties between Fermentalg and the HuvePharma group, the European leader in precision fermentation[1] in the animal and human health sectors.

On the industrial front, this alliance initiated at the end of 2023 was implemented in record time. Following technology transfer and the first industrial-scale fermentations carried out in spring 2024, production has been confirmed for summer 2024, by reaching the targeted industrial performance. This alliance will enable Fermentalg to meet the expectations of major industrial customers looking for a competitive, sustainable and sovereign supply solution in the European Union, particularly in the baby food sector.

On the financial front, the HuvePharma group has become a cornerstone shareholder, investing €7.5 million in a capital increase open to institutional and retail investors, which was successfully completed on 18 June 2024 and raised a total of €12.8 million in equity.

To ensure the long-term viability of this strategic partnership, Fermentalg shareholders will be asked to appoint a HuvePharma representative to the Company's Board of Directors at a forthcoming Annual General Meeting.

Next publication: interim results 2024,
September 17, 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 Growth Paris (FR0011271600 - ALGAE) and are PEA-PME eligible. 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).

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[1] 11 plants in 4 countries, sales of $731m and Ebitda of $162m in 2023 (Source: HuvePharma)

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  Original Source: FERMENTALG