Biotest AG: Biotest increases operating result by EUR 20 million in 2018
News: Biotest AG / Key word(s): Annual Results
Biotest increases operating result by EUR 20 million in 2018
- EBIT rises to EUR 10.6 million
- Sales grow by 5.9% to EUR 400.3 million
- Biotest meets sales and EBIT forecast
EBIT from continuing operations amounted to EUR 10.6 million in financial year 2018. The previous year's EBIT in the amount of -9.3 million was burdened by the recall of a drug.
For the continuing operations of the Biotest Group, this resulted in earnings before taxes (EBT) of EUR -6.0 million after EUR -26.0 million in the same period in the previous year. EBT from discontinued operations amounted to EUR 194.6 million in 2018 due to the recognition of the gain on the disposal of the US plasmapherese centres, compared with EUR 12.9 million in the same period of the previous year.
Earnings after taxes from continuing operations amounted to EUR -12.9 million after EUR -16.4 million in 2017.
Earnings after taxes from discontinued operations rose to EUR 194.6 million from EUR 12.9 million in the previous year, mainly due to the recognition of the gain on the disposal of the US companies.
The Biotest Group's total earnings after tax (EAT) from continuing and discontinued operations amounted to EUR 181.7 million (previous year: EUR -3.5 million).
In financial year 2018, Biotest further expanded its network of the Group's own plasma collection centres in Europe. In this time, the Company opened two plasma collection centres in the Czech Republic and one more centre in Germany in 2019. Currently 20 collection centres in Europe ensure the long-term supply of plasma.
The important expansion project Biotest Next Level was further advanced in 2018. The first process system for purification of IgG Next Generation was successfully qualified in June 2018 and transferred to Biotest.
For financial year 2019, the Board of Management expects sales growth in the mid-single-digit percentage range for continuing operations. Earnings in 2019 will be influenced by various factors. Besides the planned expenditures of EUR 80 to 90 million for the Biotest Next Level expansion project, including the associated research and development costs, the tense situation in the crisis regions, particularly in the Middle East, could also have an impact. Furthermore, a partner is being sought for advanced development projects. Based on the aforementioned factors, the Board of Management expects EBIT from continuing operations to be between EUR -5 million and EUR +5 million if partnering can be successfully concluded in 2019.
The annual report 2018 is available on the company's website at http://www.biotest.com/de/en/investor_relations/news_and_publications/publications/presentations_and_analyst_call.cfm. Also available for download from the website is the presentation for today's conference for analysts and journalists.
Ordinary shares: securities' ID No. 522720; ISIN DE0005227201
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