Biotest AG: Biotest increases revenues to EUR 200.7 million in the first half of 2018
News: Biotest AG / Key word(s): Half Year Results
Biotest increases revenues to EUR 200.7 million in the first half of 2018
- EBIT of EUR 0.6 million despite expenses of EUR 23.7 million for the Biotest Next Level project
- Successful qualification of the process plant for the purification of IgG Next Generation
Dreieich, 14 August 2018. In the first half of 2018, the Biotest Group reported revenue of EUR 200.7 million. This is an increase of 18.0 % over the EUR 170.1 million in sales during the same period of the previous year. The product recall of human albumin had a negative effect on the development of sales in the first half of the previous year.
Earnings after taxes of discontinued operations was EUR -8.0 million (same period of the previous year: EUR -30.2 million).
On August 1, the sale of the US companies was completed. Since this was foreseeable towards the end of June 2018, a profit of approximately
In the first half year of 2018, Biotest Group's total earnings after taxes (EAT) was EUR 185.7 million (same period of the previous year: EUR -17.8 million). This results in earnings per share of EUR 4.68 after EUR -0.46 in the first half of the previous year.
As announced, during the first half of 2018 Biotest further expanded its network of the Group's own plasma collection centres in Europe. In the first half of 2018, Biotest opened two plasmacollection centres in Czechia. Now there are 19 collection centres in total in Europe to ensure the long-term supply of plasma.
The major expansion project Biotest Next Level was further advanced in the first half year of 2018. The first process system for purification of the polyspecific immunoglobulin IgG Next Generation was successfully qualified in June 2018 and transferred to Biotest.
Due to the above influences, the Board of Management anticipates EBIT of continuing operations in the range of EUR 10 to 12 million. Without the extraordinary impact from the BNL project, the adjusted EBIT would be approximately EUR 70 to 80 million. For 2018, the Board of Management expects a return on capital employed (ROCE) of approx. 1.2 % and cash flow from operating activities of approximately EUR 10 million.
Ordinary shares: securities' ID No. 522720; ISIN DE0005227201
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