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Biotest AG: Impairment of US business and change of guidance

Biotest AG  / Key word(s): Change in Forecast

20.10.2015 16:59

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
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The issuer is solely responsible for the content of this announcement.

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Ad-hoc RELEASE
Announcement according to § 15 Sec. 1 Securities Trading Act (WpHG)

Biotest: Impairment of US business and change of guidance


Dreieich, 20 October 2015: Biotest AG announces to make impairments today
totalling EUR84 million, leading to a negative third-quarter result (EBIT
Q1-Q3 2015: -EUR82 million). The impairment primarily relates to the
company's US Therapy activities, including write-off of the production
facilities and parts of the buildings in the US, as well as impairment of
intangible assets and inventories of products which were developed
exclusively for the US market. The US plasma collection business remains
unaffected.

The expansion of the production at its headquarters in Dreieich, with a
capital expenditure of EUR250 million until 2019 and the operating
activities outside the US market are unaffected by these measures. Despite
the impairments, the company's operating cash flow will remain positive for
the year 2015, the equity ratio amounts to 42 percent as of September 30,
2015 and the financing is available for all development projects.

Biotest expects a significantly improved result for the 4th quarter of
2015. After generating an EBIT of EUR2.4 million during the first half of
2015, the Executive Management Board is expecting an EBIT between EUR5 and
EUR10 million for the 4th quarter of the year 2015.

Biotest Aktiengesellschaft
The Executive Management Board

Biotest AG
Landsteinerstr. 5
D-63303 Dreieich
www.biotest.de

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 is a provider of plasma proteins and biotherapeutic 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 2,200 employees worldwide. The preference shares of Biotest AG
are listed in the SDAX on the Frankfurt stock exchange.

Securities' ID No., ISIN ordinary shares: 522720, DE0005227201
Securities' ID No., ISIN preference shares: 522723, DE0005227235
Listing: Prime Standard
Open market: Berlin-Bremen, Düsseldorf, Frankfurt, Hamburg, Hannover,
München, Stuttgart


20.10.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.medientreff.de and www.dgap.de

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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:       Regulated Market in Frankfurt (Prime Standard); Regulated
              Unofficial Market in Berlin, Dusseldorf, Hamburg, Stuttgart
 
End of Announcement                             DGAP News-Service
 
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