Biotest AG: Biotest increases Profit before Tax by 28%
Biotest AG / Key word(s): Final Results / Biotest increases Profit before Tax by 28% - Profit after tax of the Biotest Group (Continuing Operations) at - 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: The annual report 2012 is available on the company's website at http://www.biotest.de/ww/en/pub/investor_relations/publications/annual_reports.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 AG, Landsteinerstr. 5, 63303 Dreieich, www.biotest.de Securities' ID No., ISIN ordinary shares: 522720, DE0005227201 End of Corporate News 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. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.medientreff.de and www.dgap.de |
| 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@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 |
| 204896 25.03.2013 |