Financial results, first-quarter 2019
Clermont-Ferrand, 14 May 2019 – (FR0004177046 METEX), METabolic EXplorer (METEX), a biological chemistry company that develops and industrialises competitive and sustainable fermentation processes, today published its financial data for the first-quarter of 2019.
In the first quarter of 2019, METabolic EXplorer posted consolidated sales of €12,500 compared with €1.601 million in the first quarter of 2018.
As of 31 March 2019, the company had a consolidated gross cash position (IFRS) of €32.5 million, compared with €35.2 million as of 31 December 2018 and cash at hand net of debt under IFRS standards amounted to €26 million at 31 March 2019, compared with €28.5 million as of 31 December 2018.
This consolidated gross cash flow as of 31 March 2019 includes a disbursement of €500,000 corresponding to the engineering costs paid during the quarter by METEX NØØVISTA for the construction of the production plant of 1.3 propanediol (PDO) and butyric acid (BA) on the Chemesis platform at Carling Saint-Avold in Moselle.
During the first few months of the 2019 fiscal year, METabolic EXplorer focused on two key areas of its development:
The first one deals with its industrial transformation with the effective start-up of the construction of the PDO/BA production unit before 30 June 2019, as provided for in the initial planning, and for the start of the production scheduled in the second-half of 2020. The teams are focused on referencing the PDO and the BA with prospects that have already been identified and on drawing up contracts for the global marketing of PDO and BA as soon as the unit begins operations.
In parallel with the development of METEX NØØVISTA, METabolic EXplorer mobilized, as announced, its R&D efforts around the creation of a new technological platform, ALTANØØV, which aims to shorten significantly the development cycles of its innovations.
About METabolic EXplorer – www.metabolic-explorer.com
Using renewable raw materials, the company develops and industrialises innovative and competitive industrial fermentation processes as alternative to petrochemical processes to meet consumers' new societal expectations and the objectives of the energy transition. Its functional ingredients of natural origin are used in the formulation of cosmetic products, nutrition-animal health or as intermediates for the synthesis of biomaterials.
The construction of its first production unit, through its subsidiary METEX NØØVISTA, will bring 1.3 propanediol (PDO) and butyric acid (BA) on the market.
Based at the Clermont Limagne technology park, near Clermont-Ferrand, METabolic EXplorer is listed on Euronext in Paris (Compartment C, METEX) and is included in the CAC Small Index.
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