Biotest increases sales in the first nine months of 2018 to
EUR 289.6 million
- EBIT of EUR 5.1 million despite expenses of EUR 37.8 million for the Biotest Next Level project
- Successful qualification of the process plant for the purification of IgG Next Generation
Dreieich, 14 November 2018. In the first nine months of 2018, the Biotest Group reported revenue* of EUR 289.6 million. This is an increase of 10.1% over the EUR 263.0 million in sales during the same period of the previous year. In the first nine months of 2018, Biotest generated sales growth in all regions.
EBIT of continuing operations was EUR 5.1 million in the first nine months of 2018 (same period of the previous year: EUR -33.9 million). It includes expenses for the Biotest Next Level project of EUR 37.8 million. EBIT for the previous year was negatively impacted by the human albumin recall.
In connection with the acquisition of the majority interest in Biotest AG (approximately 90% of the voting stock of Biotest AG) by Tiancheng (Germany) Pharmaceutical Holdings AG, Munich, Germany (Tiancheng), and the foreign trade approval from American authority CFIUS (Committee on Foreign Investment in the United States) Biotest has signed a contract on the sale of its US companies Biotest Pharmaceuticals Corporation, Boca Raton, USA (BPC), and Biotest US Corporation, Boca Raton, USA. Until the closing of this sale, Biotest AG had transferred the US companies to a US trustee on 19 January 2018.
With the approval of the American anti-trust authority FTC (Federal Trade Commission) on 31 July 2018, it was possible to close the sale of the US companies to Grifols Shared Services North America, Inc., a subsidiary of Grifols S.A., Barcelona, Spain, for USD 286 million. The recognised gain on disposal in discontinued operations amounts to EUR 162.4 million. The EBIT of discontinued operations amounted to EUR 196.5 million in the reporting period.
For the first three quarters of 2018, Biotest Group's total earnings after taxes (EAT) were EUR 190.9 million (same period of the previous year: EUR -22.2 million). This results in earnings per share of EUR 4.81 after EUR -0.57 in the same period of the previous year.
*: the following figures relate exclusively to continuing operations. The previous year's figures have been adjusted accordingly.
Plasma collection centres:
During the first nine months of 2018 Biotest further expanded its network of the Group's own plasma collection centres in Europe. In this time, Biotest opened two plasma collection centres in the Czech Republic. There are now 19 collection centres in Europe to ensure the long-term supply of plasma.
Biotest Next Level:
The important expansion project Biotest Next Level was further advanced in the first nine months of 2018. Commissioning of the systems is ongoing and the first process system for purification of IgG Next Generation was successfully qualified in June 2018 and transferred to Biotest.
For the 2018 financial year, the Board of Management expects sales of continuing operations to increase by a mid-single-digit percentage. Earnings will be influenced by various factors in 2018. Besides the deliberately further increased expenses as part of the Biotest Next Level expansion project including the associated research and development costs the continued tense situation in the crisis regions, especially in the Middle East, could be noticeable.
Due to the above influences, the Board of Management anticipates EBIT of continuing operations in the range of EUR 10 to 12 million.
The nine-month report is available on the company's website http://www.biotest.de/ww/en/pub/investor_relations/publications/quarterly_
reports.cfm. An audio file of today's conference call will be available for download from the website after the conference call.
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 ordinary and preference shares of Biotest AG are listed in the Prime Standard on the German stock exchange.
Dr Monika Buttkereit
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: 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.
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