Addex Therapeutics FY22 Loss Widens, Income Down
Addex Therapeutics Ltd (ADXN), a clinical-stage pharmaceutical company focused on allosteric modulation-based drug discovery and development, reported Thursday that its fiscal 2022 net loss was 20.8 million Swiss francs, wider than loss of 15.4 million francs in 2021.
Loss per share widened to 0.46 franc from loss of 0.45 franc a year ago. The wider loss primarily reflected increased expenses and decreased income.
Income, primarily from the company’s funded research collaboration with Indivior, decreased to 1.4 million francs in 2022 from 3.2 million francs a year ago.
Cash and cash equivalents decreased to 7.0 million francs at December 31, 2022, compared to 20.5 million francs at December 31, 2021.
The company noted that ADX71149 Phase 2 study in epilepsy cohort 1 completed part 1. The independent interim review committee or IRC recommendation is expected early Q2 2023.
K3 Business Technology FY22 Loss Narrows, Says Confident Of FY23; Names Eric Dodd CFO
K3 Business Technology Group, (KBT.L), a provider of business-critical software and cloud solutions, reported Thursday that its fiscal 2022 loss before tax from continuing activities was 3.8 million pounds, narrower than loss of 7.8 million pounds a year ago.
Reported loss per share was 9.0 pence, compared to profit of 8.0 pence a year ago.
Adjusted loss per share from continuing operations was 2.6 pence, compared to loss of 13.6 pence a year ago.
Adjusted EBITDA grew 16 percent to 5.1 million pounds from 4.4 million pounds last year.
Revenue from continuing operations increased 5 percent to 47.5 million pounds from last year’s 45.3 million pounds.
Looking ahead, the company said its Board remains confident that the Group will make further progress over the current financial year and beyond.
Separately, K3 announced the appointment of Eric Dodd as Chief Financial Officer with effect from April 3. Dodd succeeds Rob Price, who steps down from this role and the Board, after six years with K3. Price will remain with K3 until May 31.
Dodd was previously Chief Financial Officer of ATTRAQT Group plc, which he joined in 2017. Before that, he was Chief Financial Officer of Iptor Supply Chain Systems UK Limited, and KBC Advanced Technology plc.
ASSA ABLOY To Buy Mottura Serrature For Undisclosed Sum
ASSA ABLOY (ASAZF.PK), a Swedish access solutions provider, announced on Thursday that it has inked a deal to acquire Mottura Serrature di sicurezza Spa, an Italian maker of high security residential armored lock cases and security cylinders. The financial terms of the deal are not known.
ASSA expects the acquisition to add to its earnings after the conclusion of the deal, which is expected in the second quarter.
Founded in 1972, Mottura’s sales for 2022 amounted to about 28 million euros or around SEK 300 million, with a good EBIT margin.
H&M Group Q1 Profit Rises
Hennes & Mauritz AB (HNNMY.PK,HMRZF.PK,HEN.L) reported that its first quarter result after tax was 540 million Swedish kronor compared to 217 million kronor, prior year. Earnings per share was 0.33 kronor compared to 0.13 kronor. Profit for the period, excluding IFRS 16, was 515 million kronor compared to 173 million kronor.
Net sales in Swedish kronor increased by 12 percent in the first quarter to 54.87 billion kronor from 49.17 billion kronor. In local currencies, the increase was 3 percent. Excluding Russia, Belarus and Ukraine, the increase was 16 percent in Swedish kronor and 7 percent in local currencies.
The annual general meeting will be held on 4 May 2023 to resolve, among other things, on the board’s proposed ordinary dividend of 6.50 kronor per share, to be paid in two instalments, and the authorisation allowing it to buy back the group’s own B shares in the period up to the 2024 annual general meeting for a maximum of 3 billion kronor.
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Bertelsmann FY22 Profit Down; Sees Stable Operating Profit, Higher Revenues In FY23, Growth In FY26
German media, services and education company Bertelsmann SE reported Thursday that its fiscal 2022 group profit fell to 1.05 billion euros from last year’s 2.31 billion euros.
Operating EBITDA was 3.192 billion euros, nearly flat with last year’s 3.241 billion euros, despite a challenging market environment.
Bertelsmann recorded revenues of 20.25 billion euros, the highest revenues in its history in 2022, and up 8.3 percent from the previous year’s 18.70 billion euros. Almost all divisions recorded growth, in some cases considerable.
Looking ahead, Chief Financial Officer Rolf Hellermann said, “Bertelsmann has a solid financial position. For the current financial year 2023, we expect a moderate to significant increase in revenues and a stable operating result.”
As part of Boost strategy, the company plans to invest five to seven billion euros by 2026 to lift it to a significantly higher revenue and earnings level by 2026.
The company said it plans to increase revenues to 24 billion euros and EBITDA to four billion euros by 2026.
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Oil Prices Rebound In Cautious Trade
Oil prices rebounded on Thursday after ending modestly lower in the previous session to snap a two-session winning streak.
Benchmark Brent crude futures jumped 0.7 percent to $78.13 per ounce, while WTI crude futures were up 0.9 percent at $73.59.
Concerns over turmoil in the banking sector eased, helping reduce fears about risks to economic growth and fuel demand.
The standoff with Kurdish oil flows via Turkey continues, with another international oil company stopping operations in the region following a court ruling that halted the autonomous region’s oil exports to Turkey.
Disruptions in Kurdish oil shipments have cut out about 450,000 barrels per day, or 0.5 percent of daily global supply.
Meanwhile, EIA data showed U.S. crude oil inventories fell by 7.5 million barrels in the week to March 24, marking the biggest draw since late November.
The report also showed a larger-than-expected draw in gasoline stocks heading into the run-up to the summer season.
Earlier, the American Petroleum Institute reported hefty draws in U.S. oil inventories.