GENEART Publishes Results for Third Quarter 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 10.7% to EUR 4.3M in the third quartercompared to previous year's reference period with a slight positiveresult- Launch of a new customer portal allows efficiency increases insales and marketing in the future- Cash, cash equivalents and securities increased to EUR 6.7M due toimprovement of free cash flowRegensburg, November 12, 2009 - GENEART AG, global leader in GeneSynthesis and specialist in the field of Synthetic Biology, showedcontinued, stable business development in its Consolidated InterimFinancial Statements for the third quarter and the first nine monthsof 2009. Net sales increased moderately by 5.8 % for the first ninemonths of 2009 to a total of EUR 12.4M (first nine months of 2008:EUR 11.7M). With EUR 4.3M, the third quarter of 2009 exceeded netsales compared to the prior year (third quarter 2008: EUR 3.9M),equivalent to an increase of 10.7%. The defining trend of theprevious quarters therefore continued in the third quarter of 2009:GENEART recorded continued stable increase of small and mid-sized neworders, although the economic environment remains difficult. As inprevious quarters, customers of the pharmaceutical, chemical andbiotech industries remain cautious with their placement of new majororders.Increased free cash flow during the first nine months of 2009, whichimproved to EUR 0.06M from EUR -1.8M during the previous year'sreference period, proves GENEART's high business strength even underdifficult market conditions. Consequently, cash, cash equivalents andsecurities increased to EUR 6.7M as per September 30, 2009.Although market conditions remain challenging, the GENEART Groupreports a slightly positive EBIT of EUR 25 thousand and EUR 51thousand during the third quarter and over the nine-month period,respectively (first nine months 2008: EUR 1,4M).Over the past two years, GENEART made trend-setting investments in anever-increasing level of automation and miniaturization as well as inprocess improvements. Although these investments affect the 2009results through increased fixed costs, these investments created thenecessary conditions for sustainable, low-cost structures. Forexample, by increasing automation levels GENEART raised the outputper employee by more than 50 % compared to the prior year. The levelof automation and miniaturization is the basis for a highly scalableproduction, which, in the future, will allow considerably higheroutput with a significantly less than proportional increase invariable costs. Thereby, GENEART created conditions which will allowto profit overproportionally from economies of scale and decreasingunit costs, if and when demand increases. The improved coststructures enable GENEART to partially pass on savings to customersand thus to open the market and further consolidate competition.In order to profit even more from the capacities created, GENEARTfocused on increasing efficiencies in the areas of sales andmarketing over the past months, and introduced the first module of anew customer portal, which allows recording orders in a structuredmanner combined with semi-automatic processing. GENEART will fullyprofit from these advantages after completing the final stage ofupgrades in 2010. The launch of a new service unit for thedevelopment of cell lines and protein production in mammalian cells(business unit Cell Lines & Proteins) in May 2009 will contribute tolifting additional cross-selling potentials in the future.For the financial year of 2009, GENEART expects to generate net salesbetween EUR 16.5M and EUR 17M as well as a slightly positive EBIT,provided a continuing stabilization of the economic environmentduring the fourth quarter.The report may be downloaded at:http://www.geneart.com/english/investor-relations/reports/index.htmlGENEART Group Jan - Sep 2009+-------------------------------------------------------------------+| In EUR Million | Jan 1 - Sep 30, | Jan 1 - Sep 30, || | 2009 | 2008 ||-------------------------------+-----------------+-----------------|| Net Sales | 12.41 | 11.73 || EBITDA | 1.25 | 2.15 || EBIT | 0.05 | 1.40 || Free Cash flow | 0.06 | -1.80 || Number of Employees as per | 182 | 195 || the End of the Quarter | | |+-------------------------------------------------------------------+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 180 people. The company is listed on the German StockExchange since May 2006.http://hugin.info/136633/R/1354371/328376.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 (Freiverkehr) in Frankfurter Wertpapierbörse, Freiverkehr in Börse Stuttgart;
Datum: 12.11.2009 - 07:01 Uhr
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