MARTINSRIED (dpa-AFX) - Medigene AG (MDGEF.PK) reported that its first half EBITDA improved to 15.4 million euros from a negative EBITDA of 4.5 million euros, prior year, due to the partnership with BioNTech. Also, revenues increased to 25.3 million euros from 4.3 million euros mainly resulting from the new partnership.
Management confirmed the financial forecast and still expects revenues of 23-28 million euros, and EBITDA of 3-5 million euros in 2022, without the COVID-19 pandemic or Ukraine crisis having a material impact on these expectations.
As of 30 June 2022, cash and cash equivalents and time deposits amounted to 39.4 million euros. The company said it has sufficient financial resources to fund business operations into the fourth quarter of 2024.
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