Biotest AG: Biotest core business profitable at Euro 60.7 million
EQS-News: Biotest AG / Key word(s): Annual Results
Biotest core business profitable at Euro 60.7 million
Dreieich, 23 March 2023. In the financial year 2022, the Biotest Group slightly increased its sales revenue to € 516.1 million after € 515.6 million in the previous year.
In view of a worldwide increase in demand for immunoglobulins, with the pandemic continuing at the same time, Biotest was able to significantly increase sales of the immunoglobulin preparation lntratect® in particular compared to the previous year. In addition, sales of approximately € 3.2 million were generated for the first time with the newly approved immunoglobulin Yimmugo® as of November 2022. This positive effect was reduced, among other things, by the declining need for drug therapies with coagulation factors.
EBIT improved strongly in the 2022 financial year to € - 16.6 million after € - 47.1 million in the previous year. This means that the EBIT achieved is significantly above the forecast range of € - 20 to - 25 million, taking into account accelerated R&D activities.
The profitability of the Biotest Group's core business (adjusted EBIT) is steadily growing and clearly profitable at € 60.7 million (previous year: € 29.4 million) which is in the upper range of the forecast range of € 40 to 70 million.
In the Biotest Next Level expansion project, Biotest has set the course for a positive corporate development. The intravenous immunoglobulin Yimmugo® was successfully launched on the market in November 2022. Biotest is now producing this as the first commercial preparation in an innovative manufacturing process in the new Biotest Next Level production facility at the Dreieich site. Biotest is thus expanding its immunoglobulin product portfolio with an innovative product whose safety, efficacy and tolerability have been proven in the pivotal studies and which offers patients and doctors another important treatment option. At the same time, the approval of Yimmugo® represents an important milestone on the way to a broader portfolio and higher product availability.
In addition to the approval of Yimmugo®, Biotest has continued to intensify efforts in 2022 to rapidly develop and bring to market authorization the product candidates Fibrinogen and Trimodulin, which are in late clinical phase III and will also be produced in the new facility.
With the opening of seven additional plasma collection centres in the Czech Republic, Biotest was able to broaden its base for the extraction of the important raw material plasma in 2022. The Biotest Group now has 34 plasma collection centres in Europe.
For the financial year 2023, the Management Board aims to increase sales by an upper single-digit percentage compared to 2022. This increase in sales is possible due to the commissioning of the Yimmugo production facility within Biotest Next Level.
Despite the expected increase in revenue, EBIT is forecast to be in the range of € - 20 to - 15 million, as increased R&D expenses, the ongoing burdens from the ramp-up of the Biotest Next Level facility in the amount of € - 30 to - 40 million and the general cost development are counteracting an increase in EBIT.
As a result, the Executive Board expects a slightly improved return on capital employed (RoCE) for 2023 compared to the 2022 financial year and a clearly negative cash flow from operating activities.
The Annual Report 2022 is available on the company's website at https://www.biotest.com/de/en/investor_relations/news_and_publications/publications.cfm. The presentation on the hybrid conference for analysts and journalists will also be available for download there on 23 March 2023.
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 albumin based on human blood plasma. These are used for diseases of the immune and haematopoietic systems. Biotest has more than 2,200 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
23.03.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
|Phone:||0 61 03 - 8 01-0|
|Fax:||0 61 03 - 8 01-150|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||1589725|
|End of News||EQS News Service|