Resultados provisionales
Abingdon salud plc
("Abingdon" o "la Compañía")
Resultados intermedios de los seis meses finalizados el 31 de diciembre de 2023
York, U.K - 14 March 2024: Abingdon Health plc (AIM: ABDX, 'Abingdon' or 'the Company'), a leading international lateral flow contract development and manufacturing organisation (CDMO), announces its unaudited interim results for the six months ended 31 December 2023.
Operational Highlights (including post-period):
· Continued growth of contract service activities with a number of projects moving through into technical transfer for manufacture; and the Company's full-service offering resonating well with customers across a range of industries.
· Strong revenue growth across all aspects of Abingdon's fully integrated CDMO solution, including contract development; technical transfer; manufacturing; and regulatory and commercial support.
· The Company's opportunity pipeline remains robust with 3 new CDMO projects signed up post 31 December 2023 bringing the total to 29 live CDMO projects; and the Board is confident, based on the customer base and pipeline, that Abingdon's lateral flow CDMO proposition will continue to yield further contract service opportunities over the course of 2024 and beyond.
· The Company's product revenue growth will be supported in H2 2024 with the launch of a number of retailer own label self-test products with purchase orders in place and being delivered in H2 2024.
Aspectos financieros más destacados:
· Revenue of £2.4m for H1 2024 (H1 2023: £1.1m), representing a more than doubling of like-for-like revenue with a growth rate of 117% compared with H1 2023.
§ Lateral Flow CDMO revenues accounted for £2.2m (H1 2023: £0.9m) which represented a growth rate of 136% compared with H1 2023.
§ Lateral Flow Products revenues accounted for the balance of £0.2m (H1 2023: £0.2m).
· Gross profit of £1.3m for H1 2024 (H1 2023: £0.3m).
§ As a result, gross margins have increased in the period to 53.0% (H1 2023: 25.9%).
§ This is a result of improved utilisation of our operational team through increased manufacturing volumes being delivered in H1 2024 compared with H1 2023.
· Against this backdrop of revenue growth, operating costs remain stable at £2.7m for H1 2024; compared with both H1 2023 and H2 2023.
· Reduction in Adjusted1 EBITDA loss of 47% in H1 2024 to £(1.2)m (H1 2023: Adjusted2 EBITDA loss of £(2.2)m).
· Reduction in operating loss of 50% to £(1.2)m (H1 2023: £(2.4)m); with H2 2024 revenue growth and further cost savings anticipated to drive continued improvement in profit performance and cashflow.
1 adjusted for amortization, depreciation, share based payment expense and non-recurring redundancy cost and impairment reversals/(charges).
2 adjusted for amortization, depreciation, share based payment expense, non-recurring redundancy costs and professional fees as well as adjustments relating to IFRS16.
Comercio actual y perspectivas
· Trading in the first two months of H2 2024 has been robust.
· The Board therefore expects that H2 2024 revenue will be significantly improved compared with H1 2024. As a result, FY 2024 revenues are expected to be materially higher than FY 2023 revenues of £4.0m.
· The primary objective of the Board remains to move the Company to a breakeven and cash flow positive position which it forecasts will be achieved in 2024 without the need for additional funding.
Chris Yates, CEO at Abingdon Health plc, commented:
"We are pleased with H1 2024 revenue growth of 117% and look forward to building on this in H2 2024. We are encouraged by the growth Abingdon's dedicated lateral flow CDMO service continues to generate with our international customer base and we are pleased to have onboarded a number of new customers since the end of H1 2024. Our strategy remains on building our capabilities to support our customers in all the areas required to bring their lateral flow project from "idea to commercial success." Our full-service offering is resonating well with customers that want to benefit from the cost and time efficiencies this integrated service provides."
"Our focus is to continue to grow our commercial pipeline, increase revenues, pro-actively manage costs, to achieve profitability and generate positive cashflow. All of our activities are now geared towards these near-term objectives. I would like to thank the Abingdon team for their hard work, expertise, dedication and their full focus on going that extra mile to deliver for our customers. They are a credit to the Company and their efforts are greatly appreciated by me and the rest of the Board. I would like to thank shareholders for their continued support and I look forward to updating further on progress as we move through 2024."
Para más información, por favor póngase en contacto con:
Abingdon salud plc | www.abingdonhealth.com/investors/ |
chris yates, Director General | |
chris mano, Presidente no ejecutivo |
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Singer Capital Markets (Único Broker y asesor designado) | Tel.: +44 (0) 20 7496 3000 |
Peter Steel, Alex Bond, Jalini Kalaravy (Corporate Finance) |
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Tom Salvesen (Corretaje corporativo) |
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Este anuncio contiene información privilegiada a efectos del artículo 7 del Reglamento sobre abuso de mercado (UE) 596/2014, ya que forma parte de la legislación nacional del Reino Unido en virtud de la Ley de la Unión Europea (Retiro) de 2018. Tras la publicación de este anuncio a través de la Servicio de información regulatoria, esta información privilegiada ahora se considera de dominio público.
Acerca de Abingdon Health plc
Abingdon Health is a leading lateral flow contract research and contract development and manufacturing organisation ("CDMO") offering its services to an international customer base across industry sectors that include clinical, self-testing, animal health, plant health, and environmental testing. Abingdon Health has the internal capabilities to take projects from initial concept through to routine and large-scale manufacturing; from "idea to commercial success."
La división CDMO de la compañía ofrece desarrollo de productos, soporte regulatorio, transferencia de tecnología y servicios de fabricación para clientes que buscan desarrollar nuevos ensayos o transferir ensayos de laboratorio existentes a un formato de flujo lateral. Abingdon Health tiene como objetivo respaldar la creciente necesidad de resultados rápidos en muchas industrias y ubicaciones y produce pruebas de flujo lateral en áreas como enfermedades infecciosas, pruebas clínicas que incluyen diagnósticos complementarios, salud animal y pruebas ambientales. Un acceso más rápido a los resultados permite una rápida toma de decisiones, una intervención específica y puede respaldar mejores resultados.
Prueba Abingdon Simply de Abingdon Health? range of self-tests es una plataforma de comercio electrónico que ofrece una variedad de autopruebas para permitir a los consumidores gestionar su propia salud y bienestar. El Prueba simple de Abingdon? El sitio de comercio electrónico ofrece a los consumidores una variedad de información para ayudarlos a tomar decisiones informadas sobre las pruebas disponibles. Además, el sitio proporciona a los clientes de servicios por contrato de Abingdon una ruta potencial de comercialización para realizar autopruebas. La gama Abingdon Simply Test también se vende a través de distribuidores internacionales y de otros canales en el Reino Unido e Irlanda, como cadenas de farmacias.
Abingdon Health, fundada en 2008, tiene su sede en York, Inglaterra.
Para más información visite: www.abingdonhealth.com
REVISION DEL NEGOCIO
Estrategia
Abingdon Health's mission is to improve life by making rapid testing accessible to all. We seek to achieve this in two ways. Firstly, by providing our customers with a comprehensive lateral flow contract development and manufacturing service ("CDMO") to bring their products to market in the most efficient and cost-effective way. Secondly, through the distribution of a range of lateral flow self-test products, branded Abingdon Simply TestTM, retailer own brand or (select) private-label products.
Abingdon Health is proud of the fact that its customers are increasingly viewing the Company's as a one stop solution for the development, manufacture and distribution of lateral flow self-test products.
Lateral Flow CDMO services
Abingdon provides is customers with an integrated lateral flow Contract Research Organisation ("CRO") and Contract Development and Manufacturing Organisation ("CDMO") service (collectively "CDMO"). Abingdon's contract service programme covers feasibility, optimisation, scale-up, technical transfer and manufacturing. In addition, we offer a range of other complementary services such as packaging design and kitting, regulatory advice including validation and verification, documentation for regulatory submissions, and commercial support. The Company provides customers with all the services required to take their project from idea to large-scale manufacture, regulatory approval when required, and commercial success.
H1 2024 saw solid commercial progress in our CDMO division. H1 2024 CDMO revenues more than doubled to £2.2m which represented a growth rate of 136% compared with H1 2023. One particularly encouraging aspect is that a number of Abingdon's customers are engaging with the Company on a broad range of contract services and we are supporting them not only in accelerating their projects through the lateral flow development phase into technical transfer and manufacturing but in other areas such as packaging design, regulatory support, analytical laboratory services and kitting. The clear benefit for the customer is that they have one principal service provider who is proactively co-ordinating the various work streams in a cohesive and integrated manner to ensure the overall project is being driven in a cost effective and time efficient way. Our CDMO pipeline remains robust and we are pleased to have signed another 3 new CDMO project since January 2024 (bringing the total number of live CDMO projects to 29); with these projects now being initiated.
We continue to be optimistic on the prospects for the lateral flow market. Recent estimates suggest the lateral flow market will reach nearly $23 billion by 2027 (Source: MarketsandMarkets). Within this large opportunity one important thing to note is that the product mix within the market is also changing with large COVID product revenues being replaced by a range of other lateral flow products across a range of sectors as the adoption of lateral flow technology becomes more widespread. COVID-19 certainly played a key role in reducing the barriers to adoption for lateral flow technology and "doing a lateral flow test" became part of the vernacular. This changing mix creates opportunities for Abingdon to support customers bringing new products to market and this is being reflected in the range of new product development opportunities emerging across a range of sectors including clinical, animal health, food, plant pathogen and the environmental markets. The Board believes these market drivers will offer further opportunities for the Company to grow its CDMO business for the foreseeable future.
Lateral Flow Self-Test Products
The Abingdon Simply Test and branded range of self-tests has increased to 18 products. H1 2024 revenues were £0.2m which represented a growth rate of 5% compared to H1 2023. As the product line, and OEM variants of it, become more established, the Company anticipates more growth from this product range during H2 2024. A number of significant purchase orders have been received in H2 2024 which we expect to fulfil by the end of June 2024. The Company is aiming to selectively add additional self-tests, including those developed through its contract service activities, over the rest of FY2024 and beyond. The first CDMO customer's product to be launched through the Company's sales and distribution platform was the Salignostics SalistickTM saliva pregnancy test. The product is currently sold across a range of retail platforms and online at www.abingdonsimplytest.com and we expect further product distribution expansion in 2024.
We are pleased to support a leading UK retail chain with the launch of a small range of own-label lateral flow self-tests. As lateral flow experts Abingdon is well placed to support major retailers, both in the UK and mainland Europe, in the sourcing and launch of lateral flow products. Abingdon's ambition is to be the trusted source of lateral flow tests for the retail industry giving both retailers and consumers confidence in the lateral flow tests they procure and use.
During H1 2024 Abingdon, alongside Morrama Ltd ("Morrama"), invested in a new company, Eco-Flo Innovations Ltd ("Eco-Flo"), that is focused on developing sustainable product design solutions for the lateral flow market. As part of the agreement Morrama assigned the intellectual property and know-how of their novel Eco-Flo material into Eco-Flo. Work is well underway and in H2 2024 Abingdon will be testing the first plastic-free, compostable cassettes generated by the tooling Eco-Flo has invested in. The target is to have the first products available to customers in the second half of 2024. These cassettes will be manufactured in the UK and will utilise renewable plant fibre moulding technology that reduces CO2 emissions by 80% compared to the equivalent single-use plastic. The initial design will offer a straight swap from traditional plastic cassettes, breaking down any barrier for companies looking to reduce the impact of their assays and reduce the plastic use across the full test kit by 62%.
Personas
As at 31 December 2023, the Company's headcount was 84, compared with 82 as at 1 July 2023. During H1 2024 we increased the size of the R&D development team to support the strong commercial traction in the Contract Development segment of the business. This growth in the number of R&D scientists was largely offset by reductions in headcount in other areas of the business. Our intention is to keep our headcount stable and continue to invest in developing the skills and capabilities of our team to improve productivity and revenue generation capabilities.
Rendimiento Financiero
Revenues in H1 2024 were more than double those of H1 2023 at £2.4m (H1 2023: £1.1m) which represented a growth rate of 117%. We expect revenues to be weighted towards the second half of the financial year, as in the previous financial year, and our target remains to achieve good like-for-like revenue growth for each year. We are on track to achieve this in 2024 with H2 2024 revenues expected to be positively impacted by the number of technical transfer projects compared to H1 2024, both from projects transferred into Abingdon at design freeze and from existing projects moving through the design review process at Abingdon and into technical transfer ready for manufacture.
The gross profit margin for the period increased to 53.0% (H1 2023: 25.9%) as we improved the utilisation of our operational team through increased manufacturing volumes being delivered in H1 2024 compared with H1 2023.
Operating costs in H1 2024 were stable at £2.7m (H1 2023 £2.6m; H2 2023: £2.7m). The Company was affected by the inflationary environment across H1 2024 resulting in increased costs such as energy costs but this was offset by a continued focus on cost control throughout the business. Cost control remains a key focus and a number of cost cutting measures taken during H1 2024 will positively influence H2 2024.
Adjusted EBITDA loss reduced from £(2.2)m in H1 2023 to £(1.2)m in H1 2024 as a result of increased revenues and relatively stable operating costs.
In H1 2024 the operating loss was £(1.2)m which was a 50% reduction in the loss compared to the first half of 2023 (H1 2023: £(2.4)m).
Our key focus is to continue to reduce our operating loss in H2 2024 and this will be driven by forecast revenue growth and additional cost savings, some of which have already been made in H1 2024 but will impact mainly in H2 2024.
The Company's cash balance at 31 December 2023 was £2.0m (30 June 2023: £3.2m).
The earnings per share figure below includes in the denominator deferred shares. Technically this is correct. However, it should be noted that the deferred shares are non-voting shares, with no rights to dividends, but holders of deferred shares are entitled to receive the nominal value of that share (0.0025 pence sterling) once on a return of capital, a repurchase of those shares by the Company or in connection with a sale of those shares. As set out in note 3 below, the total nominal value of all the deferred shares is £45k.
Comercio actual y perspectivas
Abingdon's comprehensive lateral flow CDMO service proposition is resonating well with customers and we look forward to continue to build our business and grow shareholder value.
The Board remains confident of achieving material revenue growth for FY24 compared to FY23, with revenues in H2 2024 also being materially ahead of H1 2024.
Our key focus remains on continued revenue growth, proactive cost control and progression towards profitability and a cashflow positive position.
Estado consolidado de resultado integral total
Por el período terminado el 31 de diciembre de 2023
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Notas | Sin auditar 6 meses terminados 31 de diciembre 2023 | Sin auditar 6 meses terminados 31 de diciembre 2022 | auditado Año terminó 30 junio 2023 |
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| 000 £ | 000 £ | 000 £ |
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Ingresos | 1 | 2,410 | 1,111 | 4,045 |
El costo de ventas |
| (1,132) | (823) | (1,970) |
Beneficio bruto |
| 1,278 | 288 | 2,075 |
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Gastos administrativos |
| (2,728) | (2,563) | (5,220) |
Otros ingresos |
| 281 | 80 | 252 |
EBITDA ajustado (antes de elementos de ajuste) |
| (1,169) | (2,195) | (2,893) |
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Amortización |
| (15) | (7) | (29) |
Depreciación |
| (270) | (323) | (644) |
Impairment reversals/ (charges) |
| 361 | - | (86) |
Gastos de pago basados en acciones |
| (10) | (7) | (28) |
Honorarios legales, profesionales y de recaudación de fondos no recurrentes |
| - | (18) | (33) |
Costes de despido no recurrentes |
| (109) | (162) | (162) |
Modificación de arrendamiento |
| - | - | 390 |
Exceptional income/(costs) |
| - | 305 | (88) |
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Pérdida operativa |
| (1,212) | (2,407) | (3,573) |
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Ingresos financieros |
| 26 | 32 | 89 |
Costos financieros |
| (34) | (31) | (72) |
Pérdida antes de impuestos |
| (1,220) | (2,406) | (3,556) |
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Taxation |
| 15 | (15) | 105 |
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Pérdida del período |
| (1,205) | (2,421) | (3,451) |
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Otra pérdida integral |
| - | - | - |
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Pérdida integral total del período |
| (1,205) | (2,421) | (3,451) |
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Atribuible a: |
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Accionistas de la matriz |
| (1,205) | (2,421) | (3,451) |
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Utilidad básica por acción (peniques) | 2 | (0.40) | (0.80) | (1.14) |
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Ganancias diluidas por acción (peniques) | 2 | (0.40) | (0.80) | (1.14) |
Estado de Situación Financiera Consolidado
Por el período terminado el 31 de diciembre de 2023
| Notas | Sin auditar 31 de diciembre 2023 | Sin auditar 31 de diciembre 2022 | auditado 30 junio 2023 |
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| 000 £ | 000 £ | 000 £ |
BIENES |
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Activos no corrientes | ||||
Inversiones en asociadas |
| 15 | - | - |
Otros activos intangibles |
| 76 | 46 | 90 |
Propiedad, planta y equipo. |
| 977 | 1,494 | 1,209 |
| 1,068 | 1,540 | 1,299 | |
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Activos circulantes |
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Los inventarios |
| 411 | 183 | 329 |
Cuentas comerciales y otras cuentas por cobrar |
| 999 | 824 | 1,147 |
Income tax debtor |
| 346 | 86 | 50 |
Efectivo y equivalentes de efectivo |
| 1,998 | 4,450 | 3,236 |
| 3,754 | 5,543 | 4,762 | |
los activos totales | 4,822 | 7,083 | 6,061 | |
PASIVO | ||||
Pasivo circulante | ||||
Comerciales y otras cuentas a pagar | 2,000 | 1,972 | 2,033 | |
Préstamos | - | 52 | - | |
Obligaciones bajo arrendamiento | 97 | 83 | 87 | |
2,097 | 2,107 | 2,120 | ||
Pasivos no corrientes | ||||
Préstamos | 721 | 690 | 708 | |
Obligaciones bajo arrendamiento | 190 | 268 | 224 | |
911 | 958 | 932 | ||
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Pasivos totales | 3,008 | 3,065 | 3,052 | |
Activos netos | 1,814 | 4,018 | 3,009 | |
EQUIDAD | ||||
Atribuibles a los propietarios de la matriz: | ||||
Capital social | 3 | 76 | 76 | 76 |
Compartir premium | 30,309 | 30,309 | 30,309 | |
Reserva de pago basada en acciones | 5 | 90 | 79 | 80 |
Perdidas acumuladas | (28,661) | (26,446) | (27,456) | |
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Equidad total | 1,814 | 4,018 | 3,009 |
Estado de cambios en el patrimonio neto consolidado
Por el período terminado el 31 de diciembre de 2023
| Compartir Capital |
| Compartir producto de más alta calidad. |
| Reserva de pago basada en acciones |
| Ganancias retenidas |
| Patrimonio total atribuible a los propietarios de la controladora |
| 000 £ |
| 000 £ |
| 000 £ |
| 000 £ |
| 000 £ |
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Al 30 de junio de 2022 | 76 | 30,309 |
| 153 | (23,446) | 7,092 | |||
Pérdida | (2,421) | (2,421) |
Estado de Cambios en el Patrimonio Neto Consolidado (continuación)
Por el período terminado el 31 de diciembre de 2023
Compartir Capital | Compartir producto de más alta calidad. | Reserva de pago basada en acciones | Ganancias retenidas | Patrimonio total atribuible a los propietarios de la controladora | |||||
000 £ | 000 £ | 000 £ | 000 £ | 000 £ | |||||
Pérdida integral total del período | - | - | - | (2,421) | (2,421) | ||||
Gastos de opciones sobre acciones | - | - | 7 | - | 7 | ||||
Opciones sobre acciones ejercidas | - | - | (4) | 4 | - | ||||
Opciones de acciones perdidas | - | - | (77) | 77 | - | ||||
Al 31 de diciembre de 2022 | 76 | 30,309 | 79 | (26,446) | 4,018 | ||||
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Pérdida | (1,030) | (1,030) | |||||||
Pérdida integral total del período | - | - | - | (1,030) | (1,030) | ||||
Gastos de opciones sobre acciones | - | - | 21 | - | 21 | ||||
Opciones de acciones perdidas | - | - | (20) | 20 | - | ||||
Al 30 de junio de 2023 | 76 | 30,309 | 80 | (27,456) | 3,009 |
| Compartir capital |
| Compartir producto de más alta calidad. |
| Reserva de pago basada en acciones |
| Ganancias retenidas |
| Patrimonio total atribuible a los propietarios de la controladora |
| 000 £ |
| 000 £ |
| 000 £ |
| 000 £ |
| 000 £ |
Pérdida | (1,205) | (1,205) | |||||||
Pérdida integral total del período | - | - | - | (1,205) | (1,205) | ||||
Gastos de opciones sobre acciones | - | - | 10 | - | 10 | ||||
Al 31 de diciembre de 2023 | 76 | 30,309 | 90 | (28,661) | 1,814 | ||||
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Notas a los estados financieros intermedios
Por el período terminado el 31 de diciembre de 2023
| Sin auditar 6 meses terminó 31 de diciembre 2023 | Sin auditar 6 meses terminó 31 de diciembre 2022 | Año auditado terminado 30 junio 2023 |
| 000 £ | 000 £ | 000 £ |
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El flujo de efectivo de las actividades de operaciones | |||
Pérdida del período | (1,205) | (2,421) | (3,451) |
Ajuste para: | |||
Otros ingresos | (281) | (80) | (252) |
Ingresos excepcionales | - | (305) | - |
Ingresos financieros netos | 9 | (1) | (17) |
Impuesto (crédito) / cargo | (15) | 15 | (105) |
Amortización y deterioro de activos intangibles | 15 | 7 | 29 |
Pagos basados en acciones | 10 | 7 | 28 |
Depreciación y deterioro de propiedades, planta y equipo | 270 | 323 | 730 |
Beneficio por enajenación de propiedades, planta y equipo | - | (14) | - |
Reversión por deterioro | (361) | - | - |
Cambios en el capital de trabajo: | |||
(Aumento) / disminución de inventarios | (83) | 351 | 205 |
Disminución de cuentas por cobrar comerciales y otras | 149 | 7,020 | 6,647 |
Disminución de cuentas por pagar comerciales y otras | 327 | (3,068) | (3,180) |
Efectivo utilizado en operaciones | (1,165) | 1,834 | 634 |
Pago interesado | (34) | (31) | (48) |
Impuestos sobre la renta recibidos | - | 162 | 325 |
Ingresos de reclamos de seguros | - | - | 2 |
Efectivo neto (utilizado en)/generated from operating activities | (1,199) | 1,965 | 913 |
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Flujo de caja de las actividades de inversión | |||
Interés recibido | 26 | 32 | 89 |
Compra de activos intangibles | (4) | (18) | (82) |
Compra de propiedad, planta y equipo | (18) | (40) | (75) |
Ingresos por enajenación de propiedades, planta y equipo | - | - | 1 |
Efectivo neto generado por / (utilizado en) actividades de inversión | 4 | (26) | (67) |
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Flujo de caja de actividades de financiación |
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Efectivo retenido por régimen SAYE | - | - | (1) |
Ingresos de nuevos préstamos y empréstitos bancarios | - | 250 | 250 |
Reembolso de préstamos | - | (63) | (115) |
Pago de obligaciones de arrendamiento | (43) | (73) | (141) |
Net cash (absorbed by)/ generated from investing activities | (43) | 114 | (7) |
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(Disminución) / aumento de efectivo y equivalentes de efectivo | (1,238) | 2,053 | 839 |
Efectivo neto y equivalentes de efectivo al comienzo del período | 3,236 | 2,397 | 2,397 |
Efectivo neto y equivalentes de efectivo al final del período | 1,998 | 4,450 | 3,236 |
Información de la empresa
Abingdon Health PLC ("the Company") is a public limited company domiciled and incorporated in England and Wales. The Company is quoted on the London Stock Exchange's Alternative Investment Market ("AIM"). The registered office is York Biotech Campus, Sand Hutton, York, YO41 1LZ. The consolidated financial information (or "financial statements") incorporate the financial information of the Company and entities (its subsidiaries) controlled by the Company (collectively comprising the "Group").
The principal activity of the Group is to provide lateral flow contract development and manufacturing ("CDMO services") and related contract services to an international customer base.
Políticas contables importantes
The Group has presented below key extracts of its accounting policies. All policies are consistent with the previous statutory financial statements for the year ended 30 June 2023 and are expected to be consistently applied for the current year ended 30 June 2024 inclusive of these changes.
Base de preparación
These financial statements have been prepared in accordance with UK adopted international accounting standards ("IFRS") insofar as these apply to interim financial statements.
The financial information set out in these interim consolidated financial statements for the six months ended 31 December 2023 is unaudited. The financial information presented are not statutory accounts prepared in accordance with the Companies Act 2006, and are prepared only to comply with AIM requirements for interim reporting.
The Group's financial statements for the year ended 30 June 2023 have been filed with the Registrar of Companies. The auditor's report on those financial statements was unqualified and did not contain a statement under Section 498 (2) of the Companies Act 2006.
Base de medida
Los estados financieros han sido preparados sobre la base del costo histórico, modificado para incluir la revaluación de ciertos instrumentos financieros a su valor razonable.
Uso de estimaciones y juicios
The preparation of the financial statements in conformity with IFRS requires management to make judgements, estimates and assumptions that affect the application of policies and reported amounts of assets and liabilities, income, and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the results of which form the basis of making the judgements about carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates.
Las estimaciones y los supuestos subyacentes se revisan de forma continua. Las revisiones a las estimaciones contables se reconocen en el período en el que se revisa la estimación y en cualquier período futuro afectado.
Preocupación continua
As at 31 December 2023, the Group has net current assets. The Group has a number of CDMO service contracts in place which generate revenues and are expected to continue doing so. The Group also has significant unused cash reserves available which are expected to provide an operating headroom for a period of at least 12 months.
The Group continues to focus on increasing the number of CDMO customers and supporting those customers in bringing their products to market, thereby securing additional revenues for the Group.
Base de consolidación
The Group financial information consolidates those of the Company and the subsidiaries that the Company has control of. Control is established when the Company is exposed, or has rights, to variable returns from its involvement with the subsidiary and has the ability to affect those returns through its power over the subsidiary.
Comunicaciones electronicas
The Company is not proposing to bulk print and distribute hard copies of this Interim Report for the six months ended 31 December 2023 unless specifically requested by individual shareholders. The Board believes that by utilising electronic communication it delivers savings to the Company in terms of administration, printing and postage, and environmental benefits through reduced consumption of paper and inks, as well as speeding up the provision of information to shareholders.
News updates, Regulatory News and Financial statements can be viewed and downloaded from the Group's website, www.abingdonhealth.com/investors. Copies can also be requested from: Company Secretary, Abingdon Health PLC, York Biotech Campus, Sand Hutton, York YO41 1LZ.
Pagos basados en acciones
The fair value of equity-settled share-based payments to employees is determined at the date of grant and is expensed on a straight-line basis over the vesting period based on the Group's estimate of shares or options that will eventually vest.
Inversiones en asociadas
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
1. Ingresos
El Grupo aplica la NIIF 15 'Ingresos procedentes de contratos con clientes'. Según la NIIF 15, el Grupo aplica el método de 5 pasos para identificar los contratos con sus clientes, determinar las obligaciones de desempeño que surgen de esos contratos, establecer un precio de transacción esperado, asignar ese precio a las obligaciones de desempeño y luego reconocer los ingresos a medida que se cumplen esas obligaciones. estan satisfechos.
Análisis segmentario de ingresos
Sin auditar meses a 6 31 de diciembre 2023 | Sin auditar meses a 6 31 de diciembre 2022 | auditado 12 meses al 30 de junio 2023 | |
000 £ | 000 £ | 000 £ | |
Venta de productos | 174 | 165 | 418 |
Fabricación por contrato | 1,131 | 433 | 1,059 |
Desarrollo de contrato | 818 | 513 | 2,300 |
Regulador | 287 | - | 268 |
Ingresos totales de contratos con clientes | 2,410 | 1,111 | 4,045 |
Ingresos analizados por mercado geográfico
Sin auditar 6 meses hasta el 31 de diciembre de 2023 | Sin auditar 6 meses hasta el 31 de diciembre de 2022 | auditado 12 meses al 30 de junio 2023 | |
000 £ | 000 £ | 000 £ | |
Reino Unido | 1,317 | 333 | 1,307 |
Europa (excluyendo Bélgica) | 475 | 575 | 1,179 |
Bélgica | - | - | 479 |
Estados Unidos y Canadá | 480 | 99 | 861 |
Resto del mundo | 138 | 104 | 219 |
| 2,410 | 1,111 | 4,045 |
2. Beneficio por acción
El cálculo de la utilidad por acción básica y diluida se basa en los siguientes datos:
| 31 de diciembre de 2023 sin auditar | 31 de diciembre de 2022 sin auditar | auditado 30 de junio de 2023 |
|
|
|
|
Earnings used in calculation (£'000s) | (1,205) | (2,421) | (3,451) |
Numero de veces compartido | 304,033,634 | 304,033,096 | 304,033,363 |
EPS básico (p) | (0.40) | (0.80) | (1.14) |
Number of dilutable shares | 306,667,725 | 304,033,096 | 305,820,420 |
EPS diluido (p) | (0.40) | (0.80) | (1.14) |
The directors have presented adjusted earnings as a measure of ongoing profitability and performance, and before deduction of share-based payment costs and listing costs. The diluted EPS is the same as the basic EPS as there is a loss for each of the periods concerned. The calculated adjusted earnings for the current period of accounts is as follows:
Ganancias ajustadas por acción | Sin auditar 6 meses terminados 31 de diciembre 2023 | Sin auditar 6 meses terminados 31 de diciembre 2022 | auditado Año terminó 30 de junio de 2023 | |
| Miles de libras esterlinas | Miles de libras esterlinas | Miles de libras esterlinas | |
| ||||
Pérdida antes de impuestos | (1,220) | (2,406) | (3,556) | |
Ajustado para: | ||||
Pagos basados en acciones | 10 | 7 | 28 | |
Deterioro (reversión)/cargo | (361) | - | 86 | |
Honorarios legales no recurrentes | - | 18 | 33 | |
Costos de despido de empleados no recurrentes | 109 | 162 | 162 | |
depreciación y amortización | 285 | 330 | 672 | |
Net finance cost / (income) | 8 | (1) | (17) | |
Modificación de arrendamiento | - | - | (390) | |
Ingresos excepcionales | - | (305) | 88 | |
Ganancias ajustadas | (1,169) | (2,195) | (2,894) | |
| Sin auditar 6 meses terminados 31 de diciembre 2023 | Sin auditar 6 meses terminados 31 de diciembre 2022 | auditado Año terminó 30 de junio de 2023 | |
|
|
|
| |
Adjusted earnings (£000s) | (1,169) | (2,195) | (2,894) | |
Numero de veces compartido | 304,033,634 | 304,033,096 | 304,033,363 | |
EPS ajustado (p) | (0.38) | (0.72) | (0.95) | |
Number of dilutable shares | 306,667,725 | 304,033,096 | 305,820,420 | |
EPS diluido ajustado (p) | (0.38) | (0.72) | (0.95) | |
3. Capital social
31 de diciembre de 2023 sin auditar | Sin auditar 31 de diciembre 2022 | auditado 30 junio 2023 | |
Capital social ordinario | |||
COMERCIO | Número | Número | Número |
Acciones ordinarias de 0.025 peniques cada una | 121,716,822 | 121,716,822 | 121,716,822 |
Deferred ordinary shares of 0.025p each | 182,316,812 | 182,316,812 | 182,316,812 |
304,033,634 | 304,033,634 | 304,033,634 | |
Asignado y pagado en su totalidad | Número | Número | Número |
Acciones ordinarias de 0.025 peniques cada una | 121,716,822 | 121,716,822 | 121,716,822 |
Deferred ordinary shares of 0.025p each | 182,316,812 | 182,316,812 | 182,316,812 |
304,033,634 | 304,033,634 | 304,033,634 | |
000 £ | 000 £ | 000 £ | |
Acciones ordinarias de 0.025 peniques cada una | 31 | 31 | 31 |
Deferred ordinary shares of 0.025p each | 45 | 45 | 45 |
76 | 76 | 76 |
Reconciliation of movements during the periods:
Ordinario Número | Deferred Ordinary Número | |
Al 1 de julio de 2022 | 121,711,614 | 182,316,812 |
Ejercicio de opciones sobre acciones | 5,208 | - |
Al 31 de diciembre de 2022 | 121,716,822 | 182,316,812 |
Al 31 de junio de 2023 | 121,716,822 | 182,316,812 |
Al 31 de diciembre de 2023 | 121,716,822 | 182,316,812 |
4. Investments in Associates
El 7th August 2023, the group paid consideration of £15,000 in order to acquire a 25.1% shareholding in Eco-Flo Innovations Ltd.
5. Share options
The following movements on share options have been recognised in the period:
Número de opciones sobre acciones | Precio de ejercicio promedio ponderado | |||||
Sin auditar 31 de diciembre de 2023 | Sin auditar 31 de diciembre de 2022 | auditado 30 Junio 2023 | Sin auditar 31 de diciembre de 2023 | Sin auditar 31 de diciembre de 2022 | auditado 30 Junio 2023 | |
Número | Número | Número | £ | £ | £ | |
Sobresaliente al inicio del período | 4,247,210 | 219,781 | 219,781 | 0.0818 | 0.5057 | 0.3997 |
Ejercido | - | (5,208) | (5,208) | - | 0.0003 | 0.0003 |
Emitido | 2,386,238 | 4,119,286 | 4,119,286 | 0.00 | 0.0700 | 0.0700 |
Perdido | (914,286) | (27,444) | (86,649) | 0.0698 | 0.3281 | 0.4642 |
Transcurrido | (2,084) | - | - | - | - | - |
Sobresaliente al final del período | 5,717,078 | 4,306,415 | 4,247,210 | 0.0462 | 0.0818 | 0.0773 |
Ejercitable al final del período | 68,752 | - | 70,836 | 0.00 | - | 0.0025 |
The options outstanding at 31 December 2023 had an exercise price ranging from £0.00 to £0.70 and a remaining contractual life of up to 10 years. The options exist at 31 December 2023 across the following share option schemes:
Numero de veces compartido | Precio de ejercicio por acción (£) | Periodo de consolidación | |
Opciones emitidas en abril de 2021 | 68,752 | 0.00025 | un año |
Programa SAYE iniciado en marzo de 2021 | 57,089 | 0.70 | 3 años |
Options issued in December 2022 | 3,204,999 | 0.07 | 3 años |
Options issued in October 2023 | 2,386,238 | 0.00 | 3 años |
5,717,078 |
The fair value of the scheme represents the reduced fair value after adjusting for leavers and is being expensed over the vesting period.
RNS puede usar su dirección IP para confirmar el cumplimiento de los términos y condiciones, para analizar cómo interactúa con la información contenida en esta comunicación y para compartir dicho análisis de forma anónima con otros como parte de nuestros servicios comerciales. Para obtener más información sobre cómo RNS y la Bolsa de Valores de Londres utilizan los datos personales que nos proporciona, consulte nuestra Política de privacidad.