Affimed NV Reports Negative Q1 Financial Results, But Shows Growth in Operating Cash Flow and Profit
Affimed NV, a biotechnology company, has recently announced its financial results for the quarter ending March 2024. The company has seen a very negative performance in this quarter, but there are some positive aspects to note.
One of the highlights of the financials is the company's operating cash flow, which has been consistently growing in the last three years and is currently at its highest at USD -108.77 million. This indicates that the company has been able to generate higher cash revenues from its business operations.
Another positive aspect is the operating profit, which has also been consistently growing in the last five periods and is currently at its highest at USD -19.13 million. The near-term trend for operating profit is also positive.
Similarly, the pre-tax profit and net profit have also been consistently growing in the last five periods and are currently at their highest at USD -20.81 million. The near-term trend for both is very positive.
On the other hand, there are some areas that are not working for Affimed NV. The net sales have seen a significant decline of -96.22% year on year, indicating a very negative sales trend in the near term.
The debt-equity ratio is also a concern, as it has been consistently growing in the last five semi-annual periods and is currently at its highest at -79.77%. This suggests that the company is borrowing more to fund its operations, which may lead to a stressed liquidity situation.
Additionally, the company's short-term liquidity is deteriorating, with cash and equivalents at its lowest at USD 131.97 million in the last six semi-annual periods. The debtors turnover ratio has also slowed down, indicating a slower pace of selling debtors.
Overall, Affimed NV's financial performance for the quarter ending March 2024 has been negative, but there are some positive aspects to note. Investors should carefully consider these factors before making any investment decisions.