February 23, 2017 / 7:26 AM / 6 months ago

BRIEF-Valneva revenues and grants increased by 17.5%

Feb 23 (Reuters) - Valneva Se

* Revenues and grants increased by 17.5% year-on-year and amounted to €97.9 million in 2016 (versus €83.3 million in 2015);

* Valneva reported a positive estimated EBITDA of €2.8 million in 2016 (versus. An EBITDA loss of €8.5 million in 2015)

* Cash position of €42.2 million at the end of 2016 further strengthened by equity financing proceeds of €7.5 million in q4;

* Expects 2017 overall IFRS revenues to reach €105 to €115 million, reflecting up to 17% total revenue growth compared to 2016;

* Company anticipates product sales this year to grow by 10-15% over the €80.4 million reported in 2016, driven mainly by ixiaro/jespect and dukoral

* Group expects to further grow its operational performance to an ebitda of €5 to €10 million in 2017 while still investing approximately 20% of annual revenues in R&D Source text for Eikon: Further company coverage: (Gdynia Newsroom:)

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