Carmat will not reach its annual objectives and could run out of liquidity

Carmat warned Monday that it will miss previously announced annual sales targets and could run out of cash by the end of October.

“During the first half of the year, the increase in production that we expected was significantly disrupted by supply problems from suppliers,” CEO Stéphane Piat said in a press release.

600,000 euros of income during the first 6 months

“Due to the lack of a sufficient number of prostheses, hospital demand was generated late, which explains a limited turnover in the first half of the year.”

Carmat’s turnover during the first six months of the year stood at 600,000 euros on Monday.

In a separate financial report, the group cited uncertainties over obtaining the financing needed to continue its business, indicating that it may not be able to pay its debts and realize its assets.