GenOway: 15% growth in first-half sales

(CercleFinance.com) - genOway, a company specializing in the design of predictive preclinical models, has reported 15% growth in sales for the first half of the year, a performance it considers to bode well for achieving the objectives of its new strategic plan.


Over the first six months of the year, the Lyon-based company posted sales of 10.7 million euros, compared with 9.3 million euros in the 1st half of 2023, representing exclusively organic growth of 15%.

This solid performance is in line with the objective communicated last March of achieving annual growth in 2024 similar to that of 2023, it underlines in a press release.

Alexandre Fraichard, the company's CEO, points out that 2024 should be a "year of construction", as commercial efforts and the development of new models have not yet had an impact on the company's growth.

As part of its 'Route50+' plan, the company - which offers genetically modified mice and rats to laboratories - plans to accelerate its growth at an average rate of 20% per year to reach minimum sales of 50 million euros by 2028.

On the Paris Stock Exchange, these announcements were shunned by investors on Friday, with the genOway share price shedding more than 6% in late morning trading.

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