Mabion (MAB) Q1 2025 earnings summary

Executive summary

• Reported a net loss of PLN 15.3 million for Q1 2025, compared to a net profit of PLN 17.5 million in Q1 2024.

• Revenue dropped sharply to PLN 2.7 million from PLN 33.97 million year-over-year, mainly due to lower contract activity.

• Significant contracts signed post-balance sheet date, including a PLN 18.3 million order with IBMP (Brazil) and a PLN 2 million agreement with WPD Pharmaceuticals.

• Updated strategy for 2025-2030 focuses on expanding CDMO services, commercialisation, and profitability improvement.

Financial highlights

• Revenue for Q1 2025: PLN 2.7 million, down from PLN 34.0 million in Q1 2024.

• Gross loss on sales: PLN 5.8 million, compared to a gross profit of PLN 26.4 million year-over-year.

• Operating loss: PLN 14.1 million, versus an operating profit of PLN 13.5 million in Q1 2024.

• Cash and cash equivalents at period end: PLN 23.7 million, down from PLN 48.8 million a year earlier.

• Total assets: PLN 143.5 million; equity: PLN 96.3 million.

Outlook and guidance

• Management expects further contract wins but current signed and potential contracts are insufficient to ensure liquidity for the next 12 months.

• Immediate capital injection is deemed necessary; debt financing from private debt funds is the preferred scenario.

• Ongoing negotiations with multiple potential clients and investors.