turnover exceeded 361 ME in 2022

(Boursier.com) — Valneva generated total revenue of EUR361.3 million in 2022, exceeding previously communicated guidance of EUR340 million to EUR360 million (vs. EUR348.1 million in 2021).

Product sales reached EUR114.8 million in 2022, compared to EUR63.0 million in 2021, an increase of 82.3%. This increase is due to the continued recovery of the travel market which was faster than expected (EUR85.2 million against forecasts of EUR70 to EUR80 million), as well as sales of the vaccine against COVID-19 in Europe and in the Kingdom of Bahrain (EUR29.6 million). At constant exchange rates, product sales increased by 66.7% in 2022 compared to 2021.

Group cash was EUR289.4 million as of December 31, 2022 compared to EUR346.7 million as of December 31, 2021, and included EUR102.9 million gross proceeds from the oversubscribed global offering completed in October 2022, EUR90.5 million ( $95 million) from a Pfizer equity investment made in June 2022, as well as the drawdown of $40 million under the loan agreement signed with Deerfield & OrbiMed.