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Biotest AG: Biotest increases revenues in the first quarter 2018 by 34%

News: Biotest AG / Key word(s): Quarter Results

15.05.2018 / 10:00
The issuer is solely responsible for the content of this announcement.


Biotest increases revenues in the first quarter 2018 by 34%

- Guidance confirmed

- Q1 EBIT totalled to EUR -3.0 million after EUR-33.2 million in Q1 2017

Dreieich, 15 May 2018. In the first quarter of 2018, the Biotest Group generated revenues in the amount of EUR 88.0 million, compared with EUR 65.7 million in the same period last year. This corresponds to an increase of 33.9%. The strong increase compared to the same period of the previous year takes into account the negative one-time effect of the first quarter of 2017 resulting from the recall of various batches of human albumin.

EBIT of continuing operations totalled to EUR -3.0 million in the first quarter of 2018 (same period of the previous year: EUR -33.2 million). This includes expenses for the Biotest Next Level project in the amount of EUR 15.2 million (same period of the previous year: EUR 12.0 million). The EBIT of the same period of the previous year was burdened by the albumin recall. In the core segment Therapy, EBIT of EUR -2.1 million was achieved in the first three months of financial year 2018 (same period of the previous year: EUR -33.4 million).

Earnings after taxes from continuing operations were EUR -8.1 million (same period of the previous year: EUR -24.9 million).

In the first quarter of 2018 no gain on disposal of the US companies was realized. As the closing of the sale agreement is still subject to the approval of the US Federal Trade Commission (FTC) and as there may still be a need for adjustments of the purchase price due to the inability to determine the net working capital on the closing date, a reliable estimate of the purchase price is not possible. Due to this uncertainty, the consideration corresponds to the surrender claim against the trust, which is recorded at the carrying value of net assets sold.
Upon execution of the existing agreement, a capital gain from the sale of the US companies in the amount of EUR 100 to 200 million could be achieved.

In this context Biotest Pharmaceuticals Corporation (BPC) and its former parent, Biotest AG and ADMA Biologics, Inc. (ADMA) signed a Share Transfer, Amendment and Release Agreement yesterday evening. BPC will transfer all of their ADMA's non-voting common stock to ADMA. In return and inter alia ADMA will waive its rights to repurchase two of ADMA's plasma collection centers from BPC and will release Biotest from any potential indemnification claims in connection with the original Master Purchase Agreement.

The Biotest Group's forecast has not changed significantly from its presentation in the 2017 Annual Report (page 28).

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 1,600 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: Frankfurt (Prime Standard)
Open Market: Berlin, Düsseldorf, Hamburg/ Hanover, Munich, Stuttgart, Tradegate

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.

15.05.2018 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.

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