DGAP-News: Biotest AG: Biotest increases Profit before Tax by 28%
(firmenpresse) - DGAP-News: Biotest AG / Key word(s): Final Results
Biotest AG: Biotest increases Profit before Tax by 28%
25.03.2013 / 10:00
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PRESS RELEASE
Biotest increases Profit before Tax by 28%
- Profit after tax of the Biotest Group (Continuing Operations) at
EUR23.1 million represents an increase of 23.5% vs. the previous year
- Revenue increase by 4.3%
Dreieich, 25 March 2013. In 2012 the Biotest Group has increased the profit
after tax of the Continuing Operations by 23.5% compared to the previous
year, the profit before tax has increased by 27.6%
The Biotest Group was able to increase sales in the Continuing Operations
in the financial year 2012 as expected by 4.3 % from EUR 422.0 million in
the previous year to EUR 440.0 million in 2012.
Earnings before interest and taxes (EBIT) also increased significantly in
Continuing Operations during the reporting period from EUR 41.6 million in
2011 to EUR 44.7 million - an increase of 7.5 %. The growth in Group sales
and earnings was driven primarily by the international markets. While
business in Europe remained mostly stagnant due to continued price pressure
as well as the euro and sovereign debt crises, revenue from outside Europe
increased significantly in some cases. Furthermore, improvements in
production processes resulted in higher yields and, along with rigorous
cost management, an improved cost of sales ratio.
The financial and investing result improved significantly in the past year,
amounting to EUR - 8.2 million, up from EUR - 13.0 million in the previous
year. The main reason for this was last year's impairment of Greek
government bonds that were on the books, which had an impact on the
financial result. In the first quarter 2012 Biotest had sold all remaining
Greek bonds.
This resulted in earnings before taxes (EBT) from Continuing Operations of
EUR 36.5 million - an increase of 27.6 % compared to the previous year (EUR
28.6 million). Due to an increased tax liability resulting from undeducted
losses from the Greek subsidiary and start-up losses from the Brazilian
subsidiary as well as from not fully utilised deferred taxes for BPC,
earnings after taxes (EAT) rose from EUR 18.7 million to EUR 23.1 million
(+ 23.5 %) in 2012. The Biotest Group thus generated earnings per share in
Continuing Operations of EUR 1.94 compared to EUR 1.57 in 2011.
Furthermore, a pending patent law suit in connection with the sale of the
former segment Microbiological Monitoring (Discontinued Operation) has been
declared null and void in favor of the buyer. As a result Biotest received
outstanding parts of the purchase price amounting to approx. EUR 10.3
million.
The Board of Management and the Supervisory Board of Biotest AG will
recommend to the Annual Shareholders' Meeting, which will take place on May
8th, 2013 a dividend payment in the amount of EUR6.2 million (2011: EUR5.5
million) equal to EUR0.50 (2011: EUR0.44) per ordinary share and EUR0.56
(2011: EUR0.50) per preference share. This represents an increase in
dividend payment of 13,6 % or 12.0 %.
Development projects for Plasma Proteins and monoclonal antibodies are on
track; the collaboration with AbbVie (a global, research-based
biopharmaceutical company formed in 2013, following separation from Abbott)
and the development of Tregalizumab (BT-061) is continuing successfully,
e.g. the initiation of a phase IIb trial in the indication of Rheumatoid
Arthritis has just been reported.
Outlook for 2013:
We expect the Group's sales in the financial year 2013 to grow 10 % to 15 %
annually. With regard to EBIT , we expect a comparable performance in 2013.
The annual report 2012 is available on the company's website at
http://www.biotest.de/ww/en/pub/investor_relations/publications/annual_rep
orts.cfm The presentation for today's conference for analysts and
journalists is also available for download from the site.
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 portfolio 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. Biotest also
researches into the 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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25.03.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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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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