Mabion had PLN 1.9 million of net profit, PLN 9.83 million of EBIT loss in 2021

Mabion recorded PLN 1.9 million in standalone net profit in 2021 compared to PLN 55.77 million loss a year earlier, the company said in the report.

"Net profit for 2021 after taking into account the estimates of deferred tax in the amount of PLN 12 158 thousand. PLN was at the level of 1 903 thousand. PLN "- we read in the management's report.

The operating loss amounted to PLN 9.83 million compared to PLN 54.65 million loss a year earlier.

Sales revenues reached PLN 56.87 million in 2021, compared to the lack of revenues a year earlier.

In 2020 and in previous years, the company did not realize revenues from its core activities, while incurring operating costs in connection with the costs of development works, investments in machinery and equipment used to conduct development works and for the production of drugs in the future, as well as costs general management related to, inter alia, with obtaining financing for day-to-day operations, it was indicated.

“The realization of sales revenues in 2021 was mainly due to the cooperation with Novavax and the recognition of revenues from a non-returnable advance payment on distribution rights as a result of the termination of the contract with Mylan. The contract for the production of the vaccine antigen by the company was concluded for the period until 2025, which will allow the company to continue generating sales revenues in subsequent reporting periods. With the achievement of full scale of commercial production, the company expects an improvement in profitability ratios, which, however, will ultimately be influenced by many factors, including those independent of the company, ”the report also wrote.

Mabion is a Polish biotechnology company that was established in order to introduce the latest generation biotechnological drugs based on humanized monoclonal antibodies to the market. In 2010, Mabion entered the NewConnect market, and in April 2013, the company moved to the main floor of the Warsaw Stock Exchange.

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