Biotest AG: Biotest exceeds Sales and EBIT forecast in the 2020 financial year
News: Biotest AG / Key word(s): Annual Results
Biotest exceeds Sales and EBIT forecast in the 2020 financial year
- Revenue forecast exeeded with revenue growth of 15.5%
- EBIT in core business very profitable at € 78.4 million
- Biotest invites to the virtual Annual General Meeting on 11 May, 2021
Despite the ongoing corona crisis, Biotest's sales in the Therapy segment developed very positively. This growth was mainly achieved in key sales markets due to the positive development of sales of the main products immunoglobulins and albumin.
EBIT amounted to € -1.3 million in financial year 2020, compared to € -1.2 million the previous year.
* The research and development cost for products that can be produced only at the new facility
For the Biotest Group, earnings before taxes (EBT) came in at € -30.0 million, compared to € -1.3 million in the same period of the previous year.
The Biotest Group's earnings after taxes (EAT) for financial year 2020 were € -31.4 million compared to
Three activities against COVID-19 infection:
With three projects, the Biotest Group is working to contribute to the solution of the corona crisis:
1. Due to the high similarity of the clinical picture to the patients treated in the phase II CIGMA study, Biotest sees significant potential for Trimodulin also in patients with severe pneumonia caused by COVID-19 infection. A phase II study (ESsCOVID - Escape from severe COVID-19) has been initiated in COVID-19 patients to accelerate the development of Trimodulin in light of the current COVID-19 pandemic. Patient recruitment of this study started in October 2020 and is currently ongoing.
2. As part of Biotest's participation in the CoVIg-19 Plasma Alliance together with other pharmaceutical manufacturers of plasma preparations, Biotest has produced a new hyperimmunoglobulin from the plasma of donors with antibodies against the new coronavirus. In 2021, it is planned to receive marketing authorization for the new preparation in Europe as part of the alliance's development activities
3. Biotest AG's Hungarian subsidiary has been exclusively contracted by the Hungarian National Health Initiative to collect plasma from cured COVID-19 patients in order to use this high antibody content plasma directly therapeutically in severely ill patients.
The forecast for the financial year 2021 was prepared on the assumption that the spread of the coronavirus will not have any further significant negative impact on Biotest's business performance. However, the high level of uncertainty currently prevailing with regard to further possible economic consequences limits the certainty of the planning assumptions.
The annual report 2020 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. There will be a download available on the website of the presentation of the conference call for analysts and journalists on March 31, 2021.
Ordinary shares: securities' ID No. 522720; ISIN DE0005227201
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