GENEART Publishes Financial Results for First Half 2009
(Thomson Reuters ONE) - Corporate news announcement processed and transmitted by Hugin AS.The issuer is solely responsible for the content of this announcement. ------------------------------------------------------------------------------------ - Net sales increased by 3.4 % to EUR 8.1M with a slightly positiveresult- New business unit Protein Services implemented to round off theproduct line for the development of biopharmaceuticals- Prognosis for 2009 unchanged and reconfirmedRegensburg, August 13, 2009 - GENEART AG, global leader in GeneSynthesis and specialist in the field of Synthetic Biology, showedstable business development correlating with current expectations inthe Interim Consolidated Financial Statements for the second quarterand first half of 2009. Net sales increased moderately by 3.4 % toEUR 8.1M during the first half of 2009 compared to the prior year(first half 2008: EUR 7.9M). Second quarter 2009 net sales increasedby 2.9 % to EUR 4.1M compared to the prior year's reference quarter(second quarter 2008: EUR 4,0M). Thus, despite a difficult marketenvironment, GENEART managed to compensate for the expiring majorcontract by the NIH (U.S. American National Institutes of Health) inthe third quarter 2008 by an increasing number of medium-sized andsmall orders. With new customers in the medium and small segments,the customer structure continued to broaden significantly, and themarket share of GENEART in Gene Synthesis could be extended again.Considering the difficult market environment and the currentlycautious behaviour of customers of the pharmaceutical, biotech andchemical industries when placing major orders, GENEART was able togenerate a satisfying EBITDA of EUR 0.8M for the first half of 2009.During the prior year's reference period EUR 1.4M were recorded. TheGroup's EBIT totaled EUR 26 thousand for the first half of the year.After adding the financial result of EUR 39 thousand the EBT reachedEUR 66 thousand (first half 2008: EUR 1.1M).While first quarter 2009 results had still been severely affected bya price increase for the chemical acetonitrile, the switch to analternative substance could already be noticed in a decreasingmaterial cost ratio during the second quarter. Starting in the secondhalf of the year GENEART expects to see the material cost ratio toreach normal levels again.The investment program implemented in 2008 resulted in an increase ofthe cost structure and affected the 2009 results. With theseinvestments GENEART created a highly automated and scalabletechnology platform, which allows to significantly boost productioncapacities even on short notice and with only a moderate costincrease. This is a prerequisite for GENEART to profitsuperproportionally from increasing demand through economies of scaleand to actively support market consolidation in the field of GeneSynthesis providers.In addition to its cost leadership GENEART proved its technologyleadership once again during the second quarter 2009 when producinggenes for a vaccine against the so-called swine flu (H1N1). GENEARTsucceeded in producing the required genes for the vaccine in recordtime - among others for the Robert Koch Institute (RKI - the FederalGovernment's central institution responsible for disease control andprevention) and for one of the Top 10 pharmaceutical companies.A key strategic focus at GENEART is the expansion of its productportfolio in order to offer system solutions to customers. Since thelaunch of the business unit Protein Services for the generation ofcell lines and the production of proteins in mammalian cells in May2009, GENEART can offer the entire value chain from the gene to theprotein, and thus, a comprehensive range of products for thedevelopment of biopharmaceuticals. This enables GENEART to developadditional sales and profit potentials apart from Gene Synthesis inthe future.Based on the current economic situation and its current order status,the company still expects net sales of EUR 16M for 2009 to be atleast at prior year's levels. Assuming a recovery of the economicenvironment, net sales between EUR 17M and EUR 18M can be expectedwith a balanced EBIT for the entire year, as it had already beenachieved in the first half of the year.For further inquiries, please contact:Dr. Karoline StürmerGENEART AGJosef-Engert-Str. 1193053 RegensburgGermanyPhone: +49-(0)941-942 76-417Fax: +49-(0)941-942 76-711ir(at)geneart.comwww.geneart.comFrank OstermairBetter Orange IR & HV AGHaidelweg 4881241 MunichGermanyPhone: +49-(0)89-8896906-10Fax: +49-(0)89-8896906-66info(at)better-orange.dewww.better-orange.deLegal Information:This document may contain estimates, prognoses and opinions aboutcompany 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 theGENEART Group. Many factors may lead to actual results, whichconsiderably deviate from the given projections for these results.About GENEART AG:In 2000, GENEART entered the Gene Synthesis market and has sincebecome the global market leader. Today, the company is one of theleading specialists in the Synthetic Biology field. Experts atGENEART provide key technologies for the development and productionof new therapeutics and vaccines. Customers also take advantage ofGENEART services to customize enzyme attributes, such as theattributes of enzymes used as detergent additives, and to constructbacteria, which produce complex biopolymers or break down polymers,such as synthetics, petroleum components, etc. GENEART's serviceportfolio ranges from the optimization and production of syntheticgenes according to DIN EN ISO 9001:2000, to the generation of genevariants or complex gene libraries and the production of cell lines,to the development and production of DNA and protein based drugcandidates. GENEART AG in Regensburg and its subsidiaries GENEARTInc. in Toronto (Canada) and GENEART Inc. in San Francisco (USA)employ about 190 people. The company is listed on the German StockExchange since May 2006.http://hugin.info/136633/R/1334348/316687.pdf --- End of Message ---Geneart AGJosef-Engert-Str.11 Regensburg GermanyWKN: A0JJ4L; ISIN: DE000A0JJ4L4; Listed: Freiverkehr in Börse Düsseldorf, Freiverkehr in Börse Berlin, Open Market in Frankfurter Wertpapierbörse, Freiverkehr in Börse Stuttgart;
Datum: 13.08.2009 - 07:00 Uhr
Sprache: Deutsch
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