Biotest AG: Biotest: proceeding successfully
Biotest AG / Quarter Results
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Biotest: proceeding successfully
· Sales and EBIT for the first nine months considerably higher
than the figures for the previous year
· Board of Management confirms targets for the year as a whole
· Financing secured through long-term credit lines
Dreieich, 17 October 2008. Financial year 2008 is continuing to proceed
extremely successfully for the Biotest Group. According to preliminary
figures, sales for the period January to the end of September amounted to
EUR 323.0 million, approximately one third higher than the comparative
figure for the previous year (EUR 241.0 million). Net of acquisition
effects, business volume climbed 15.2%.
According to preliminary figures, EBIT totalled EUR 43.9 million for the
first nine months, representing an increase of 60.2% on the same period in
2007 (EUR 27.4 million). All segments contributed to growth, with Plasma
Proteins and Microbiology recording particularly dynamic growth.
In light of the positive development, the Board of Management is confirming
its profit and sales targets for the year as a whole. Sales are set to
reach around EUR 420 million, while it is expected that EBIT will total
more than EUR 50 million.
Biotest has stable long-term debt financing. The loan agreement concluded
in the course of the purchase of the US plasma protein business in autumn
2007 is valid until 2014/2015. The financing totalling EUR 175 million
comprises EUR 135 million in long-term loans, which are fully utilised as
well as a short-term revolving credit line to finance current assets
amounting to EUR 40 million. Around half of this is currently being
utilised. In addition, the Biotest Group has further credit lines which
remain unutilised both in Germany and abroad.
Consequently, Biotest would not be affected by potential lending
restrictions imposed by the banks in response to the financial market
crisis. This is true both in relation to current business operations as
well as to the investments planned for the coming year as part of the
Group’s growth strategy. In the first nine months of the current year,
Biotest financed investments, which exceeded depreciation entirely from
cash flow from operating activities.
The 2008 nine-month report featuring detailed information on the Group’s
business performance and profit will be published by Biotest on
6 November 2008.
Disclaimer
This document contains forward-looking statements on overall economic
development as well as on the business, earnings, financial and asset
situation 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
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.
About Biotest
Biotest AG, Dreieich, Germany, is a company that researches and
manufactures pharmaceutical, biotherapeutic and diagnostic products and has
specialised in immunology and haematology. In its Pharmaceutical segment,
Biotest develops immunoglobulins, clotting factors and albumins based on
human blood plasma. These are used for diseases of the immune system or
haematopoietic system. In the Biotherapeutic segment, Biotest researches
into the clinical development of monoclonal antibodies, including in the
indications of rheumatoid arthritis and blood cancer. The Diagnostic
segment spans reagents and immunological diagnostics which are used, for
example, in blood transfusions and transplants. Biotest has around 1,850
employees worldwide and its shares are listed in the Stock Exchange's SDAX.
Biotest AG, Landsteinerstr. 5, D-63303 Dreieich, www.biotest.de
Dr. Michael Ramroth, Tel: +49 (0) 6103 801-819,
Fax: +49 (0) 6103 801-347
e-mail: michael_ramroth@biotest.de
WKN, ISIN ordinary share: 522720, DE0005227201
WKN, ISIN preference share: 522723, DE0005227235
Listed: Prime Standard/official trading
Frankfurt, Berlin, Düsseldorf, Hamburg, Stuttgart
17.10.2008 Financial News transmitted by DGAP
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Language: English
Issuer: Biotest AG
Landsteinerstraße 5
63303 Dreieich
Deutschland
Phone: 0 61 03 - 8 01-0
Fax: 0 61 03 - 8 01-150
E-mail: investor_relations@biotest.de
Internet: http://www.biotest.de
ISIN: DE0005227201, DE0005227235
WKN: 522720, 522723
Indices: SDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, Stuttgart
End of News DGAP News-Service
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