Malin swings to interim profit as finance income rises and costs fall

Malin Corp PLC on Wednesday reported a swing to an interim profit, helped by the absence of a prior-year impairment charge and lower administrative expenses.

The Dublin-based investor in life sciences companies reported pretax profit of EUR300,000 in the six months that ended June 30, versus a loss of EUR6.7 million the year before.

In the first half of 2025, Malin recorded a EUR4.8 million impairment charge against US biopharmaceutical company Viamet in the first half of 2025, which did not recur in the latest period.

Administrative expenses narrowed to EUR1.3 million from EUR1.9 million a year earlier. Finance income increased to EUR1.6 million from EUR800,000.

Estimated intrinsic equity value per share was EUR9.36 at June 30, up 1.6% from EUR9.21 at December 31.

The company estimated this value at EUR8.28 per share on August 24, down 11% from June 30.

In January 2025, Malin sold its stake in US biopharmaceutical company Poseida to Swiss pharmaceutical group Roche Holding AG for USD9.00 per share, receiving USD106.5 million. Malin, who owned about 12% of Poseida, have the potential to receive a further USD47.3 million, the company said.

Malin said it will value its remaining interest in the UK-based clinical-stage biopharmaceutical company Kymab contingent consideration at nil following Sanofi’s decision to discontinue development of amlitelimab in moderate to severe atopic dermatitis.

Looking ahead, Executive Chair Liam Daniel said: “Malin’s investee company interests are now concentrated in a small number of areas and due to the nature of the recent transactions, the company’s direct involvement has been reduced.”

Shares in Malin were flat at EUR7.00 on Wednesday afternoon in Dublin.

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