Press Detail

News: Biotest AG: Biotest reports revenue of EUR 110 million in the first quarter 2017

News: Biotest AG / Key word(s): Quarter Results
Biotest AG: Biotest reports revenue of EUR 110 million in the first quarter

10.05.2017 / 07:00
The issuer is solely responsible for the content of this announcement.


Biotest reports revenues of EUR 110.5 million in the first quarter 2017

Dreieich, 10 May 2017. In the first quarter of 2017, the Biotest Group
generated sales of EUR 110.5 million, after EUR 133.6 million in the same
period of the previous year. This corresponds to a percentage decrease of
17.3 %. EUR 26.5 million of this decrease is attributable to sales
reductions from the recall of various batches of the product human albumin
and resulting contractual penalties. The reason for the recall was a
technical defect in the production of an intermediate product for human
albumin, which has since been rectified. Without these one-time effects,
there would have been a 2.5 % increase in sales to EUR 137.0 million, which
would have been in line with the original guidance.

EBIT of continuing operations amounted to EUR -24.9 million in the first
quarter of 2017 compared to the previous year's figure of EUR 17.0 million.
In the core Therapy segment, EBIT of EUR -33.0 million was generated in the
first three months of the 2017 financial year (previous year: EUR 9.4
million). This development was chiefly attributable to sales reductions of
EUR 26.5 million from the anticipated return of human albumin already
delivered and contractual penalties, one-time expenses from write-downs of
EUR 9.1 million on inventories of the product human albumin that can no
longer be sold due to technical problems in production, and other costs
relating to the recall in the amount of EUR 1.7 million.

In the first three months of the 2017 financial year, earnings after taxes
of continuing operations in the amount of EUR -16.7 million (same period of
the previous year: EUR 10.3 million) were impacted by the extraordinary
items described above in connection with the recall of the product human

On 26 April 2017, the Board of Management announced that due to the
technical defect in the production of human albumin, the associated return
of end products already sold and the supply shortages for human albumin in
the current financial year, it is now forecasting sales at the previous
year's level for continuing operations in 2017, after previously having
forecast a low single-digit percentage increase in sales. The guidance for
EBIT of continuing operations of EUR 46 million to EUR 48 million has been
reduced by around EUR 25 million to EUR 30 million.

Due to the announced public offer we have postponed the Annual General
Meeting to
30 August 2017.

The Quarterly statement is available on the company's website at

About Biotest
Biotest is a provider of plasma proteins and biological 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 cancer of plasma cells and systemic lupus erythematosus which
are produced by recombinant technologies. Biotest has more than 2,500
employees worldwide. The preference shares of Biotest AG are listed in the
SDAX on the Frankfurt stock exchange.

IR contact
Dr. Monika Buttkereit
phone: +49-6103-801-4406

PR contact
Dirk Neumüller
phone: +49-6103-801-269

Biotest AG, Landsteinerstr. 5, 63303 Dreieich, Germany,

Ordinary shares: securities' ID No. 522720; ISIN DE0005227201
Preference shares: securities' ID No. 522723; ISIN DE0005227235
Listing: Prime Standard
Open Market: Berlin-Bremen, Düsseldorf, Frankfurt, Hamburg, Hanover, Munich,

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.

10.05.2017 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at

Language: English
Company: Biotest AG
Landsteinerstraße 5
63303 Dreieich
Phone: 0 61 03 - 8 01-0
Fax: 0 61 03 - 8 01-150
ISIN: DE0005227235, DE0005227201
WKN: 522723, 522720
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange

End of News DGAP News Service

571513 10.05.2017