Biotest AG: Biotest increases earnings after tax by 55%
Biotest AG / Key word(s): Half Year Results 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
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 AG, Landsteinerstr. 5, 63303 Dreieich, www.biotest.de Securities' ID No., ISIN ordinary shares: 522720, DE0005227201 End of Corporate News 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, 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 |
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