CARBIOS announces fiscal-year 2024 financial results

Core Insights - CARBIOS reported its operating and financial results for the financial year 2024, highlighting a strategic focus on financing and technology sales to support the construction of its Longlaville plant [1][2]. Financial Performance - The Group's income for 2024 was €136 thousand, a significant increase from €24 thousand in 2023, primarily from feasibility studies and CARBIOS Active product deliveries [14][28]. - Operating expenses rose to €37,643 thousand in 2024 from €28,902 thousand in 2023, driven by increased personnel costs and external consulting services [14][21]. - The net loss for the period was €33,113 thousand, compared to a loss of €27,224 thousand in 2023, reflecting intensified commercial efforts and R&D activities [17][28]. Cash Position and Financing - As of December 31, 2024, CARBIOS had €109 million in cash, which includes €90 million in cash and cash equivalents [19][29]. - The company plans to finance its plant project through available cash, public grants of €42.5 million, and additional non-dilutive financing discussions, including potential government support for a debt guarantee of up to €86 million [4][6]. Operational Updates - The construction schedule for the Longlaville plant has been postponed by 6 to 9 months, with plans to resume once additional financing is secured [7][6]. - Significant progress has been made towards signing binding commercial contracts in the first half of 2025, alongside ongoing negotiations for licensing agreements [6][5]. Sustainability and Certifications - CARBIOS achieved B Corp™ label and ISO 9001 & 14001 certifications, with an improved extra-financial rating of 83/100 from EthiFinance [9]. - The company is focused on developing enzyme-based processes for biorecycling PET plastics and polyester fibers, contributing to the circular economy [22]. Patent Portfolio - CARBIOS strengthened its intellectual property portfolio with 58 patent families and 502 titles, including 28 new patents granted in key countries [10]. Organizational Changes - A reorganization and cost-cutting plan was initiated, potentially affecting around 40% of positions to ensure the implementation of its industrial and commercial strategy [11].