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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 albumin.

Outlook:
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
http://www.biotest.com/de/en/investor_relations/news_and_publications/publications/quarterly_reports.cfm

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
email: investor.relations@biotest.de

PR contact
Dirk Neumüller
phone: +49-6103-801-269
email: pr@biotest.com

Biotest AG, Landsteinerstr. 5, 63303 Dreieich, Germany, www.biotest.com

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, Stuttgart

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.