Biotest AG: Biotest increases adjusted 9-month EBIT by over 21% to € 52 million
News: Biotest AG / Key word(s): Quarter Results
Biotest increases adjusted 9-month EBIT by over 21% to € 52 million
- Sales increase by over 15% to € 342 million
- Two development projects for COVID-19 therapy further advanced
- Guidance for 2020 confirmed
Dreieich, November 12, 2020. In the first nine months of the 2020 financial year, the Biotest Group recorded adjusted EBIT of € 51.6 million. Compared to € 42.6 million in the same period of the previous year, this represents an increase of 21.1 %. The adjusted EBIT does not include the costs for the Biotest Next Level expansion project in the amount of € 59.3 million (same period of the previous year: € 49.7 million). The adjusted EBIT margin rose to 15.1 % in the first nine months of the current fiscal year, compared to 14.4 % in the same period last year.
At € 341.6 million (same period in the previous year: € 294.9 million), revenues for the first nine months of 2020 were also significantly up by € 46.7 million or 15.8 % versus the same period in the previous year. The strong increase is attributable to the Therapy and Plasma & Services segments. The 14.1 %
EBIT improved slightly by € 0.4 million compared to the same period of the previous year and amounted to € -7.8 million (prior year period: € -8.2 million) for the first nine months of the 2020 financial year.
Biotest is also working on a new drug against COVID-19 based on plasma donations from donors previously recovered from COVID-19. The donations contain antibodies that can neutralize the coronavirus. This drug contains these antibodies in a purified form and could then be used therapeutically against COVID-19. In order to advance the development as quickly as possible, Biotest has entered into an industry-wide cooperation within the COVID-19 Plasma Alliance with companies such as CSL, LFB, Octapharma and Takeda. This alliance is developing this polyclonal hyperimmunoglobulin treatment for SARS-CoV-2.
In order to expand the product range and double production capacity, Biotest started the expansion project Biotest Next Level. In financial year 2020, further progress was made with this project. In June the second approval took place and in October 2020, another partial inspection for the commissioning of the BNL plant took place by the Darmstadt Regional Council. The main focus of the inspection was the new SAP-based software for the collection and management of the raw material plasma and plasma based intermediate products.
Despite some difficulties caused by the Corona pandemic, the commissioning of the BNL production plant is progressing. In the second quarter of 2021, the manufacturing license in according to §13 of the German Medicines Act (AMG) is to be obtained.
The nine month report is available on the company's website https://www.biotest.com/de/en/investor_relations/news_and_publications/publications/quarterly_reports.cfm
Ordinary shares: securities' ID No. 522720; ISIN DE0005227201
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