BRAIN Biotech AG Reports Robust Cash Position and Forecasts Growth

BRAIN Biotech AG announced strong financial results for the first nine months of FY 2023/2024. The company reported €13 million in cash on-hand, significantly improved operating cash-flow, and is forecasting strong sequential growth in Q4. Despite flat year-on-year growth, CEO Adriaan Moelker emphasized operational execution and ongoing cost control as key strengths.

The BioProducts segment saw a slight increase in turnover to €30.4 million. However, adjusted EBITDA decreased to €3 million due to higher personnel costs and operating start-up costs. The BioScience segment experienced a 10.9% decline in sales, attributing this to project delays and a weaker economic environment. Adjusted EBITDA in this segment also fell to -€0.3 million. On the positive side, the BioIncubator segment showed significant turnover growth, contributing to an improved adjusted EBITDA of -€1.4 million. Overall, the operating cash flow improved dramatically from -€4.5 million last year to -€2.7 million.