DGAP-News: Biotest AG: Biotest increases earnings after tax by 55%
(firmenpresse) - DGAP-News: Biotest AG / Key word(s): Half Year Results
Biotest AG: Biotest increases earnings after tax by 55%
13.08.2013 / 09:00
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PRESS RELEASE
Biotest increases earnings after tax by 55%
- New sales record in second quarter 2013
- Capital increase very successfully completed
- Confirmation of Guidance of sales and EBIT growth of 10 - 15% in 2013
Dreieich, 13 August 2013. The Biotest Group achieved record sales in the
first six months of 2013 and is still on its projected growth path. In the
reporting period the Group generated revenues of EUR 243.3 million compared
to EUR 220.2 million in the period of the previous year. This represents an
increase of 10.5 %.
Profitability also increased significantly in line with the rise in
revenues. Earnings before interest and taxes (EBIT) increased in the
reporting period by 13.1 % from EUR 22.9 million to EUR 25.9 million.
The growth in sales was driven primarily by the international markets.
Sales in the US increased significantly. The high growth rates in the US
were mainly attributable to the market launch of Bivigam(R) in February
2013. The immunoglobulin resulting from our own development, which is used
to treat patients with primary humoral immune deficiencies has already
generated a sales contribution in the doubledigit million range in the
first six months of 2013.
Earnings before taxes (EBT) came in at EUR 23.4 million. EBT is therefore
32.2 % above the comparable amount of EUR 17.7 million in the previous
year. Earnings after taxes (EAT) increased significantly from EUR 9.9
million to EUR 15.3 million as a result of only a slight increase in tax
expense. Altogether this produced earnings per share of EUR 1.31. This is
equivalent to an increase of 56.0 % compared to an earnings per share of
EUR 0.84 in the previous year.
In view of the high growth expectations for the global pharmaceutical
markets regarding plasma proteins Biotest has decided to expand production
capacity called 'Biotest Next Level' investment program. The aim of the
project is to double production capacity at the Dreieich location by 2018
and to further strengthen the competitiveness of the Company but also
contribute to achieving the target sales figure of EUR 1 billion by the
year 2020.
In order to achieve a doubling of capacity it is anticipated that an
investment of between EUR 200 and 250 million will be required. At the
Annual Shareholders' Meeting of Biotest AG on 8 May 2013 the Management
Board announced a capital increase by way of the issue of up to 1,461,909
new preference shares. This measure is an important component for the
financing of the largest investment project in the history of the Biotest
Group. The capital increase was very successfully completed at the end of
June with gross issue proceeds of EUR 76.0 million. The new shares were
placed with investors located in Germany and abroad and the share capital
was increased by EUR 3.7 million as a result. The issue proceeds will be
fully used for the 'Biotest Next Level' expansion of production capacity.
The business performance of the Biotest Group continues to be very
positive. For this reason the Management Board reaffirms its target of
increasing sales by 10 % to 15 % in the current year. Management expects a
similar increase in EBIT.
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 plasma proteins 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
clinical immunology, haematology and intensive medicine. 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 addition Biotest develops monoclonal antibodies
in the indications of rheumatoid arthritis and cancer of plasma cells,
which are produced by recombinant technologies. Biotest has about 1.800
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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13.08.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
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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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