DGAP-News: Biotest AG: Biotest Group reports substantially higher EBIT
(firmenpresse) - DGAP-News: Biotest AG / Key word(s): Quarter Results
Biotest AG: Biotest Group reports substantially higher EBIT
10.05.2012 / 11:00
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PRESS RELEASE
Biotest Group reports substantially higher EBIT
- EBIT up 14.3% at EUR 10.4 million
- Sales increased to EUR 107.7 million
- Management Board confirms forecast
Dreieich, 10 May 2012. The Biotest Group has increased its earnings before
interest and taxes (EBIT) in the first three months of the 2012 financial
year by a substantial 14.3%. The company generated earnings of EUR 10.4
million, compared with EUR 9.1 million from continuing operations in the
same period last year. Sales in the first quarter of 2012 increased
slightly from EUR 106.5 million to EUR 107.7 million, the bulk of which was
accounted for by the company's stable core plasma proteins business which
developed positive.
The strategic focus in the first three months of 2012 was squarely on core
business, with a strong emphasis on patients and medical needs. Since the
beginning of this financial year the company's operations have been
structured in three segments comprising Therapy, Plasma&Services and
Other Segments. Within the Therapy segment the Group is concentrating on
the three defined areas of application for its products and developments,
namely haematology, clinical immunology and intensive care medicine. In
addition to expanding its business with plasma proteins, the company will
also push ahead with the development of biotherapeutics.
Under the new structure, the moderate rise in sales was achieved
particularly in the Therapy and Other Segments. A large part of the
increase in the Therapy segment resulted from scheduled and proportionally
booked payments from Abbott in connection with the agreement to jointly
develop the biotherapeutic BT-061. By contrast, sales and earnings in the
Plasma&Services segment declined.
The financial result in the first three months of 2012 amounted to - EUR
3.1 million, compared with - EUR 2.5 million in the same period last year.
Lower interest expense due to a lower level of borrowings was offset by the
complete disposal of Greek zero bonds, leading to a loss of around EUR 1.1
million. Earnings before tax were 10.6% higher at EUR 7.3 million (previous
year, continuing operations, EUR 6.6 million). Earnings after tax amounted
to EUR 3.8 million (previous year, continuing operations, EUR 4.4 million).
The significant increase in the tax rate was essentially due to unrecognised
losses at the Greek company and as well as start-up losses in
Brazil.
Summing up the first quarter 2012, Professor Dr. Gregor Schulz, Management
Board Chairman of Biotest AG, commented that 'We can look back on a
gratifying development in business. Thanks to our new segmental structure,
we will in future be able to exploit additional synergies.' Besides
sharpening the company's profile, some important progress has been made in
a variety of areas. For example in early pre-clinical trials the
immunoconjugate BT-062 showed itself to be effective against various
aggressive solid tumours. This raises the prospect of additional long-term
potential in addition to its effectiveness against multiple myeloma which
has already been investigated in clinical studies. The Biotest Group is
confirming its previous guidance and continues to target a full-year sales
increase of 3 to 5% in 2012 with EBIT slightly higher than last year.
The three-months report is available on the company's website at
http://www.biotest.de/ww/de/pub/investor_relations/publikationen/quartalsb
erichte.cfm
Disclaimer
This document contains forward-looking statements on overall economic
development as well as on the business, earnings, financial and assets
position of Biotest AG and its subsidiaries. These statements are based on
current plans, estimates, forecasts and expectations of the company and are
thus subject to risks and elements of uncertainty that could result in
significant deviation of actual developments from expected developments.
The forward-looking statements are only valid at the time of publication.
Biotest does not intend to update the forward-looking statements and
assumes no obligation to do so.
About Biotest
Biotest is a provider of pharmaceutical and biotherapeutic drugs. With a
value added chain that extends from pre-clinical and clinical development
to worldwide sales, Biotest has specialised primarily in the areas of
application of clinical immunology, haematology and intensive medicine. In
its Plasma Protein segment, Biotest develops and markets immunoglobulins,
coagulation factors and albumins based on human blood plasma. These are
used for diseases of the immune and haematopoietic systems. In the
Biotherapeutic segment, Biotest researches into the clinical development of
monoclonal antibodies, including in the indications of rheumatoid arthritis
and cancer of plasma cells. Biotest has more than 1.600 employees
worldwide. The preference shares of Biotest AG are listed in the SDAX on
the Frankfurt stock exchange.
Biotest AG, Landsteinerstr. 5, 63303 Dreieich, www.biotest.de
Dr. Monika Buttkereit
tel.: +49 (0) 6103 801-4406,
e-mail: investor_relations(at)biotest.de
fax: +49 (0) 6103 801-347
Securities' ID No., ISIN ordinary shares: 522720, DE0005227201
Securities' ID No., ISIN preference shares: 522723, DE0005227235
Listing: Prime Standard
Open Market: Berlin-Bremen, Düsseldorf, Frankfurt, Hamburg, Hannover,
München, Stuttgart
End of Corporate News
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10.05.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Biotest AG
Landsteinerstraße 5
63303 Dreieich
Germany
Phone: 0 61 03 - 8 01-0
Fax: 0 61 03 - 8 01-150
E-mail: investor_relations(at)biotest.de
Internet: http://www.biotest.de
ISIN: DE0005227235, DE0005227201
WKN: 522723, 522720
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart
End of News DGAP News-Service
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