Clermont-Ferrand, 19 February 2016 – METabolic EXplorer, a biological chemistry company that specialises in developing manufacturing bioprocesses for bio-based compounds used in a wide range of everyday products, including textile fibres, animal feed supplements and resins – publishes its financial results for the fourth quarter of 2015 today.
Sales and cash position
In the fourth quarter of 2015, METabolic EXplorer posted net sales of €339,000. This corresponds to contractual revenues for this period under the development agreement signed with the Finnish group UPM, a key international player in the wood-paper sector. The agreement covers development of a process for making monopropylene glycol (MPG, or 1,2 propanediol) from second-generation cellulosic sugars. METabolic EXplorer notes that sales for 4Q2015 were affected by the licence agreement with SK Chemicals on PDO coming to an end, and by rescheduling of the signature of a licence agreement on L-Methionine. By the end of December 2015, net sales from the MPG programme partnership agreement signed with UPM in June 2015 stood at €684,000. At 31 December 2015, METabolic Explorer’s gross cash position stood at €9.1 million (IFRS). Its net cash position stood at €4 million to French standards (€1.4 million IFRS), comparable to this at the end of 2014. Situation on the three programmes:
- L-Methionine: In a difficult economic context, METabolic EXplorer confirms that progress is being made in actively ongoing discussions on signature of one or more non-exclusive licences. Discussions are independent of the nutritional efficacy tests under way on poultry. METabolic EXplorer notes that these tests seek to objectively assess the increase in nutritional and economic performance achieved by 100%-natural L-Methionine.
- PDO: The licence agreement with SK Chemicals has come to an end, and METabolic EXplorer is now working on promotion of this mature asset, notably in connection with new public initiatives in France and the rest of Europe on stepping up the development of “green chemicals”.
- MPG: This programme is proceeding to plan, in line with the draft schedule drawn up by the two partners, UPM and METabolic Explorer.
About METabolic EXplorer- www.metabolic-explorer.com
METabolic EXplorer is a biological chemistry company which was incorporated in 1999. Its goal is to help industrial businesses deal with the rise in oil prices, so that they can continue their production, in a different, sustainable way. Based on the tried and tested principle of industrial fermentation, METabolic EXplorer’s solutions replace today’s petrochemical processes with the use of a wide range of plant-based raw materials. By optimizing the metabolic yield of non-pathogenic bacteria in a contained, controlled environment, the company facilitates the production of chemical compounds used in a wide range of everyday goods (textile fibres, plastics, resins, solvents or animal feed supplements). METabolic EXplorer is currently focusing its alternative processes on the production of three compounds that together have an estimated, annual, end-market value of €7 billion. The company’s strategy will be implemented through industrial partnerships in the shape of licenses and joint ventures, as well as own-account production units. METabolic EXplorer, based in Clermont-Ferrand, France, is listed on Euronext in Paris (Compartment C, METEX) and is part of the CAC Small index and EnterNext Tech40 label.
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Media and individual shareholder relations
ATTITUDE Corporate Eric de Lambert E-mail: edelambert@attitude-corporate.com Tél.: +33 (0)6 2529 0658
: +33 (0)6 2529 0658
Investor and analyst relations
ATTITUDE Corporate Eric de Lambert E-mail: edelambert@attitude-corporate.com Tél.: +33 (0)6 2529 0658
: +33 (0)1 5367 3678
ACTUS finance & communication Jérôme Fabreguettes-Leib Email :jfl@actus.fr Tél. : +33 (0)1 5367 3678 Disclaimer In so far as forecasts or expectations are expressed in this press release or where our statements concern the future, these forecasts, expectations or statements may involve known or unknown risks and uncertainties. Actual results or developments may vary, depending on changes in the operating environment. Neither Evonik Industries AG nor its group companies assume an obligation to update the forecasts, expectations or statements contained in this release.