Libourne - January 25, 2024 - Fermentalg, the French leader in microalgae listed on Euronext (FALG), today unveils its 2023 sales figures and 2024 outlook, fueled by orders and commercial contracts at an all-time high at the start of the financial year.
This new sales momentum is the first fruit of the 2024 - 2026 strategic plan unveiled at the end of 2023[1] in favor of profitable, sustainable growth.
Thanks to this roadmap focused on accelerating sales, developing strategic partnerships and continuous innovation, Fermentalg should consolidate its position as European leader in sustainable solutions based on marine microalgae biotechnology, with sales target of €10 million in 2024 and over €25 million by 2026, compared with €4 million in 2023[2] .
90% of 2024 sales target already secured
The new sales policy introduced in the summer of 2023 aims both to win over new customers, particularly in market segments that are under- or unaddressed, and to establish long-term relationships with them via framework contracts to ensure visibility and recurring sales. As a result, the sum of annual orders and contracts has risen from less than €1 million at the start of 2023 to over €9 million today, representing a more than 10-fold increase in 12 months.
Three new customers in each of the major geographical regions illustrate, with contracts of over €1 million, the needs of industrial customers in response to consumer expectations. One is a diversified specialist in food ingredients, while another, a player in marine Omega-3s, is introducing a microalgae-based range to its portfolio. The latter is based in Asia, where demand for microalgae-based products is strong in response to concerns about the possible contamination of fish oils by radioactive waste from Fukushima.
Growth expected in Q1 and new opportunities to boost momentum
This excellent start to the year should enable Fermentalg to post strong sales growth as early as 1st quarter 2024. Beyond that, the Company has levers to maintain and amplify this momentum throughout the year.
Fermentalg has begun discussions with several new prospects, each representing several million euros in potential annual sales, including:
- In infant formulas, a strategic segment for which Fermentalg has marketing authorizations in Europe and the United States.
- In the field of high-concentration Omega-3, where Fermentalg has unrivalled legitimacy with an oil concentrated up to 620mg/g of DHA.
Fermentalg will also benefit from the planned ramp-up, over the coming months, of its new strategic partnership with the HuvePharma group[3] . This alliance will enable the Company to offer feed and food industry players the only source of algal omega-3 in the European Union, and an oil that meets the highest standards in terms of quality, competitiveness, and environmental performance.
Next publication: full-year results 2023 and
sales for str quarter 2024, April 3, 2024 (after market close)
About Fermentalg
An expert in the research and bioindustrial exploitation of microalgae, Fermentalg aims to offer sustainable solutions and innovative products that contribute to the development of healthy, natural and high-performance products. Our business: the development, production and marketing of sustainable solutions and active ingredients derived from microalgae, for nutrition, health and the environment. Nutritional lipids, alternative proteins, natural food colorings and innovative environmental solutions make up our company's current and future offering. Fermentalg shares are listed on Euronext Paris (FR0011271600 - FALG), and are eligible for PEA-PME and long-only SRD. It has received an Exemplary rating (90/100) from EthiFinance ESG Ratings, a rating agency specializing in the ESG performance of SMEs listed on European markets, in favor of Socially Responsible Investment (SRI).
For further information: www.fermentalg.com
| Contact for journalists: | Investor Relations : |
| ACTUS finance and communication Fatou-Kiné N'DIAYE Telephone: +33 (0)1 53 67 36 34 fndiaye@actus.fr | ACTUS finance and communication Jérôme FABREGUETTES LEIB Telephone: +33 (0)1 53 67 36 78 fermentalg@actus.fr |
[1] New strategic plan 2024 - 2026 and major industrial partnership // Acceleration towards a profitable and sustainable growth model
[2] Unaudited sales of €4.058m for fiscal 2023
[3] Through its subsidiaries HuveNutra and Biovet
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https://www.actusnews.com/documents_communiques/ACTUS-0-83894-falg_cp_ca_2023_en.pdf
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