- Positive EBITDA and net result
- Large increase in services delivered for the SeqOIA GCS and
the P2M platform operated for Institut Pasteur
- Limited negative impact from the pandemic along the
year
- Outlook: continued revenues growth for 2022 based on orders
book
Regulatory News:
IntegraGen (Paris:ALINT), a company specializing in
the decryption of the human genome, which carries out interpretable
genomic analyzes for academic and private laboratories and develops
diagnostic tools in oncology and part of OncoDNA Group, today
announced its financial results for the year ending December 31,
2021. The annual audited accounts were approved by the company’s
Board of Directors which met on April 29th, 2022.
Bernard Courtieu, CEO IntegraGen, said: “The year 2021
has been outstanding in multiple ways for IntegraGen. First of all,
it was the first full year after the friendly takeover bid by
OncoDNA and the operational integration of the teams. Then, it was
a pandemic year which had a material impact on the activity of the
P2M platform of the Institut Pasteur which has been particularly
requested for the sequencing of COVID viruses in addition to its
usual activities. Finally, IntegraGen continued its streamlining
efforts, which made it possible to achieve the break-even point:
for the first time, the company achieved a positive EBITDA and net
result.
Now part of the OncoDNA Group, IntegraGen can offer a wider
range of services and rely on the international sales network,
particularly in Belgium and Spain, which offers new growth
outlook.
We would like to thank all our customers who have remained loyal
during the pandemic period and also all the laboratory and R&D
employees who, through their professionalism and commitment, have
enabled IntegraGen to exceed its objectives and, above all,
contribute to the improvement in patient care.”
Increased sequencing for GCS SeqOIA
As a reminder, in 2018 the GCS SeqOIA (made up of Assistance
Publique-Hôpitaux de Paris [AP-HP], the Institut Curie and the
Gustave Roussy cancer center) accepted the offer of IntegraGen for
the provision of an operating service for a high-throughput
sequencing data production platform.
After the start of the platform's operations in early 2019, the
patients sequencing services have progressively increased with in
particular the effect of the broadening of the indications. This
shows a 24% increase in turnover to €3,341k during the financial
year, compared to €2,687k in 2020.
Stability of genomic service activities
Genomic service activities, performed at our site in Evry,
include services provided for research laboratories and teams in
charge of clinical research. Despite a significant increase of
orders received during the year (+22%), the annual turnover
recognized during the 2021 financial year fell slightly by 2% to
€4,742k. This order increase in 2021 has created a backlog for
growth for 2022.
In total, the genomics teams have carried out more than 545
projects for 140 clients, academic and private entities.
Strong increase in services provided for the Institut
Pasteur
IntegraGen continued its services for the shared microbiology
(P2M) platform of the Institut Pasteur under the contract renewed
in March 2020. The IntegraGen teams provided their support to the
Institut Pasteur, which was in high demand as part of the Covid-19
virus pandemic and variant sequencing needs, leading to a
significant increase in volumes. This contract generated €2,386k
revenues, compared to €1,147k in 2020.
In 2021, the platform operated by IntegraGen for the Institut
Pasteur carried out nearly 64,822 microbial sequencings, including
39,495 for SARS-Cov-2.
Increase in sales of genomic data interpretation
solutions
The company offers three distinct software tools for
interpreting genomic data which are available in the cloud as SaaS
solutions. Mercury, which is utilized for the interpretation of
data from patients with cancer; Sirius, for the analysis of
research samples with a focus on research applications in
constitutional genetics; and, Galileo, for RNA expression analysis.
Sales increased modestly to €259k compared to €209k in 2020. Sales
of analysis and consulting services (GeCo activity) fell to
€95k.
2021 FINANCIAL RESULT
Continued improvement in operating income
In thousands of euros (€k)
2021
2020
Var. %
Revenues
11.324
9.000
26%
Other operating revenues
222
146
52%
Total revenues
11.546
9.146
26%
EBITDA
170
-28
EBIT
-44
-254
83%
Pre-tax current result
82
-256
Net result
15
-375
Operating income continues to improve thanks to sales growth,
the commercial and scientific development efforts carried out in
recent years, as well as the rigorous management of resources.
2021 revenues amounted to €11,324k, up 26% compared to the
previous year. Excluding recharge of personnel costs to the parent
company (€546k), turnover amounted to €10,823k representing a
growth of 20% compared to 2020 (€9,000k).
Operating expenses amounted to €11,589k, up 23% compared to
2020. This increase is explained by various factors including the
increase in the cost of consumables, the recharge of personnel
costs by the parent company (€512k), the increase in payroll costs
following the recruitments made over the last twelve months. Over
the period, the average workforce increased from 43 to 49 people.
This increase also illustrates the investments in Quality in the
scope of the certifications of our laboratory at Evry.
EBITDA was positive at €170k compared to a loss of €28k in
2020.
The financial result shows income of €126K, following the sale
of securities compared to a loss of €2K in 2020.
The exceptional result is a net loss of 197 K€ which is mainly
explained by restructuring costs.
Research & Development and innovation efforts have generated
a tax credit of €130k compared to €92k in 2020.
The 2021 financial year ended with a positive net result of €15k
in 2021 compared to a loss of €375k in the previous year.
A solid balance sheet
In thousands of euros (€k)
31/12/2021
31/12/2020
Fixed assets
624
874
Stock
342
238
Accounts receivables
3.358
2.142
Other receivables
491
444
Cash
4.781
5.124
Current assets
8.972
7.948
Translation difference
8
0
TOTAL ASSETS
9.604
8.822
In thousands of euros (€k)
31/12/2021
31/12/2020
Shareholder’s equity
2.186
2.171
Provisions for risks and charges
8
53
Financial debt
1.953
2015
Advances received from customers
430
712
Accounts payables
3.552
2.717
Other payables
1.475
1.153
Translation difference
0
1
TOTAL LIABILITIES
9.604
8.822
The available cash amounts to €4,781k at the end of December
2021 compared to €5 124k one year before. This change was due to
the flow of current transactions, change in working capital
requirements and investments in quality systems. This cash position
includes a State Guaranteed Loan (PGE) of €1,800k obtained last
year in the context of the Covid-19 pandemic. The reimbursement
over a period of 5 years will start in June this year.
OUTLOOK 2022: CONTINUED GROWTH EXPECTED
IntegraGen intends to pursue revenue growth in 2022 based on the
order book to be delivered and the positive trend observed in the
market with academic and private clients.
The completed integration within the OncoDNA group confirms
IntegraGen's commercial development perspectives outside of
France.
The available cash will finance operational and investment
needs.
ABOUT INTEGRAGEN
IntegraGen is an OncoDNA group company specializing in the
genomics of cancer and rare genetic diseases. Backed by highly
competent and qualified teams, IntegraGen is a leading player in
DNA sequencing services and genomic data interpretation software.
The company runs one of the largest NGS labs in France and operates
for research institutes of excellence. As part of OncoDNA group,
IntegraGen leverages the power of next generation sequencing with
the mission of delivering the promise of precision medicine to
patients. IntegraGen has about 50 employees and generated €10,8
million of turnover in 2021. Based in France, IntegraGen is part of
the Belgian OncoDNA group present in Spain, UK, Germany and works
with an international network of 35 distributors. The Group also
provides biomarker testing and clinical interpretation tools to
guide treatment and monitoring of latestage solid tumors and
accelerate the development of new cancer drugs.
IntegraGen is listed on Euronext Growth in Paris (ISIN:
FR0010908723 – Mnemo: ALINT – Eligible PEA- PME).
For further information, connect with us on LinkedIn or
Twitter.
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version on businesswire.com: https://www.businesswire.com/news/home/20220429005578/en/
IntegraGen Bernard COURTIEU CEO Pierre FLAMANT CFO
contact@integragen.com Tél. : +33 (0)1 60 91 09 00
NewCap Investor and Media Relations Louis-Victor
DELOUVRIER integragen@newcap.eu Tél. : +33 (0)1 44 71 98 53
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