Valneva Posts Wider Loss In FY22; Product Sales Up 82.3%

(RTTNews) - Valneva (VALN) generated a net loss of 143.3 million euros in 2022 compared to a net loss of 73.4 million euros in 2021. Adjusted EBITDA was negative at 69.2 million euros compared to a negative adjusted EBITDA of 47.1 million euros.

Finance expense and foreign currency effects in 2022 resulted in a net finance expense of 31.4 million euros, compared to a net finance expense of 8.6 million euros in 2021.

Total revenues were 361.3 million euros in 2022 compared to 348.1 million euros in 2021, an increase of 3.8%. Total product sales were 114.8 million euros in 2022 compared to 63.0 million euros in 2021, an increase of 82.3%. On a constant exchange rate basis, product sales increased by 66.7% in 2022.

For 2023, the company expects total revenues and other income between 220 million euros and 260 million euros.

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