Mabion's H2 revenue may be worse than H1; it will take time to attract new customers

Listed biotech company Mabion's revenue scale in the second half of 2024 may be lower than that of the first half of the year, but the prospect of PLN 150-200 million (EUR 35-47 mln) next year is still within the company's reach, the board said. According to the company, more time is needed to acquire new customers. If funds are required, the company assumes debt financing.

"The outlook for the second half of the year is predictable, but it will be a more challenging period because we have to incur costs and capital expenditure in selected areas and, although under control, the second half of the year will certainly not be as exciting as the first half of the year," CEO Krzysztof Kaczmarczyk said during a video conference.

In the first half of 2024, Mabion had revenues of PLN 63.8 million (EUR 15 mln), EBITDA of PLN 28.4 million (EUR 6.6 mln) and net profit of PLN 27.8 million (EUR 6.5 mln).

The board reiterated earlier announcements regarding the outlook, including, among others, the potential to generate revenues in the range of PLN 150-200 million (EUR 35-47 mln).

"We stand by the announcements made at the beginning of the year. As far as the second half of the year and revenues are concerned, the outlook does not change - revenues will deviate from the first half of the year because the guaranteed part of the contract with Novavax has been completed and smaller orders are being executed, while at the same time work with further customers is just beginning," said the CEO.

"Certainly the scale will not be comparable to the first half of the year. We hope that next year the revenue outlook will be maintained at the indicated level - the potential of PLN 150-200 million is within our reach," he added.

Kaczmarczyk also reiterated the assumption that the EBITDA margin of 20-30 percent is conservative.

Previously Mabion reported that the active offering pipeline currently stands at around USD 320 million.

doa/ han/