Pharmaceutical technology company Modulight published its results for the second quarter on Friday.
Modulight had a turnover of 1.0 million euros in April-June, while the corresponding figure in the comparison period last year was 1.1 million euros. Analysis house Inderes predicts a turnover of 1.3 million euros.
The company’s operating profit was -2.0 million euros, while the figure for the comparison period was -2.1 million euros. Inderes anticipates an operating income of -2.5 million euros.
Modulight’s EBITDA was -1.2 million euros, while in the comparison period the figure was -1.6 million euros.
Earnings per share were -0.05 euros, while the reading for the comparison period was -0.05 euros. Inderes anticipates earnings per share of -0.06 euros.
Modulight’s product development pipeline grew to 30 projects. Operating cash flow was -0.1 million euros, while the corresponding figure for the last comparison period was -1.4 million euros.
“A large investment program has been completed, which is reflected in improved profitability, as the costs related to implementation have decreased”, comments the CEO Seppo Orsila in the bulletin.
No short-term financial guidance
Modulight does not provide short-term financial guidance. However, the company estimates that macroeconomic and geopolitical uncertainty will continue to affect its financial results in the short term.
The company’s strategic goal for the years 2023–2025 is strong annual growth in turnover and strong profitability at the EBITDA level.