GENEART AG: Group Results 2009
(Thomson Reuters ONE) -
Geneart AG / GENEART AG: Group Results 2009 processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.
· GENEART confirms preliminary results of EUR 17.2M in net sales and EBIT
of EUR 0.3M
· First quarter of 2010 within expectations
· Outlook 2010 with net sales between EUR 18.5M and 19.5M and EBIT
between EUR 0.5M and 0.6M
Regensburg, April 29, 2010 - Despite the challenging economic environment
GENEART AG continued its growth in 2009 and increased net sales by 9.6 % from
EUR 15.7M to 17.2M. The curbed growth compared to the previous year is due to
cautious behaviour of the most significant customers of the pharmaceutical and
biotech industries as well as the research sector, in particular with respect to
placing major orders. GENEART managed in compensating this effect by securing
small and mid-sized orders and slightly increased net sales in all quarters
compared to the respective reference periods of the previous year; fourth
quarter net sales increased by 20.7 % to EUR 4.8M.
EBIT totalled EUR 0.33M (previous year: EUR 0.82M) in 2009. Earnings before tax
reached EUR 0.4M compared to EUR 1.1M in the prior year. Profit per share for
2009 is EUR 0.04 compared to EUR 0.15 in the prior year. The results were
affected by the economic situation and therefore by the cautious behaviour of
the most significant customer groups. Particularly noted were an increase in the
material cost ratio, due to lowered prices in gene synthesis, and lower other
operating income, a result of slightly decreased third-party funding.
The cash flow showed a positive trend. Although the profit did not reach prior
year's level, cash flow from current operations increased from EUR 2.8M to EUR
3.0M. Cash flow from investments improved from EUR ?4.8M to EUR ?3.8M. This
includes the acquisition of guaranteed bearer bonds, which were classified as
investments in accordance with IFRS. In business terms, however, these are not
investments but are considered as liquidity and thus increased the free cash
flow from EUR ?2.0M to EUR 1.2M. Liquidity increased from EUR 6.8M to EUR 7.8M.
The trend of an overall steady development of net sales for the entire year
2009 continued into the current fiscal year. Based on preliminary figures,
GENEART generated net sales of EUR 4.57M during the first quarter of 2010,
compared to EUR 4.04M in the previous year's reference period, and increased net
sales by about 13 %.
GENEART continues to follow its long-term growth strategy in 2010. However,
planning and forecasting for 2010 is impeded by a continually challenging
economic environment, a cautious behaviour of customers with respect to placing
major orders and a short-term spending pattern. Due to this continued cautious
behaviour when placing major orders GENEART expects moderate business growth for
the first six months of 2010. The economic environment is expected to improve
during the second half of the year, together with an associated return to higher
growth rates. On the earnings side, GENEART pursues further flexibility of its
cost structures and additional reduction of production costs per unit to be able
to meet short-term demand fluctuations. Assuming an overall normalised economic
situation during the second half of 2010, GENEART expects net sales between EUR
18.5M and 19.5M and EBIT between EUR 0.5M and EUR 0.6M for the current fiscal
year.
For further inquiries, please contact:
Dr. Karoline Stürmer
GENEART AG
Josef-Engert-Str. 11
93053 Regensburg
Germany
Phone: +49-(0)941-942 76-417
Fax: +49-(0)941-942 76-711
ir(at)geneart.com
www.geneart.com
Frank Ostermair
Better Orange IR & HV AG
Haidelweg 48
81241 Munich
Germany
Phone: +49-(0)89-8896906-10
Fax: +49-(0)89-8896906-66
info(at)better-orange.de
www.better-orange.de
Legal Information:
This document may contain estimates, prognoses and opinions about company plans
and objectives, products or services, future results, opinions about these
results or opinions leading up to these results. All these projections into the
future are subject to risk, uncertainty and unforeseeable change outside the
control of the GENEART Group. Many factors may lead to actual results, which
considerably deviate from the given projections for these results.
About GENEART AG:
In 2000 GENEART entered the Gene Synthesis market and has since become the
global market leader. Today, the company is one of the leading specialists in
the Synthetic Biology field. Experts at GENEART provide key technologies for the
development and production of new therapeutics and vaccines. Customers also take
advantage of GENEART services to customize enzyme attributes, such as the
attributes of enzymes used as detergent additives, and to construct bacteria,
which produce complex biopolymers or break down polymers, such as synthetics,
petroleum components, etc. GENEART's service portfolio ranges from the
optimization and production of synthetic genes according to DIN EN ISO
9001:2008, to the generation of gene variants or complex gene libraries and the
production of cell lines, to the development and production of DNA and protein
based drug candidates. GENEART AG in Regensburg and its subsidiaries GENEART
Inc. in Toronto (Canada) and GENEART Inc. in San Francisco (USA) employ about
180 people. The company is listed on the German Stock Exchange since May 2006.
Since April 2010, the US-American Life Technologies Corporation, one of the
leading biotechnology companies worldwide with 2009 revenues of 3.3B U.S.
dollars and about 9,000 employees, is majority shareholder of GENEART AG.
[HUG#1409649]
--- End of Message ---
Geneart AG
Josef-Engert-Str.11 Regensburg Germany
ISIN: DE000A0JJ4L4;
Listed: Freiverkehr in Börse Stuttgart,
Freiverkehr in Börse Berlin,
Freiverkehr in Börse Düsseldorf,
Open Market (Freiverkehr) in Frankfurter Wertpapierbörse;
GENEART AG Group Results 2009: http://hugin.info/136633/R/1409649/362152.pdf
Unternehmensinformation / Kurzprofil:
Datum: 29.04.2010 - 07:01 Uhr
Sprache: Deutsch
News-ID 19903
Anzahl Zeichen: 0
contact information:
Town:
Regensburg
Kategorie:
Business News
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