Fermentalg Sees Strong H1 2024 Performance with Strategic Growth

Libourne-based Fermentalg, a leader in microalgae solutions, announced its favorable first half-year financial results for 2024. Sales surged to €6.3 million, a 2.7-fold increase from H1 2023, driven by their new CEO's strategic plan focused on market expansion and reinforced partnerships.

This unprecedented growth marks the company's best commercial performance since the launch of DHA Origins® in 2018. New ventures into premium dietary supplements and pet food segments contributed significantly to these results. The company maintains its annual sales target of €12 million, notwithstanding recent market challenges.

Fermentalg's partnership with Huvepharma advanced, featuring the successful transition of DHA Origins® production to Bulgaria. Huvepharma also increased its stake in Fermentalg to over 20%. Additionally, the EverzureTM project with Givaudan progressed, with industrial scaling and potential commercial engagements on the horizon.

Despite rising operating expenses and ongoing R&D investments, Fermentalg's operating income showed slight improvement. The company's net income remained stable at -€5.6 million, while its cash position improved by €10 million, bolstered by a successful capital increase and inventory management.