Biotest AG: Successful Financial Year 2008
Biotest AG / Final Results
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Successful Financial Year 2008
- Sales up 29.6 % to EUR 423.0 million, with exceptional increase in EBIT
- Internationalisation and R&D projects on schedule
- Outlook 2009: 10% increase in sales, with EBIT on previous year's level
Dreieich, 11 March 2009. The Biotest Group announced its final figures for
2008 today. The Pharmaceutical and Diagnostics group has recorded a 29.6%
increase in sales to EUR 423.0 million (2007: EUR 326.4 million). In 2008
Earnings before interest and tax (EBIT) accounted for EUR 55.6 million,
which represents a growth of 44.4% compared to the previous year (EUR 38.5
million). Earnings before tax (EBT) were up by 34.1% to EUR 40.5 million,
compared to the previous year (2007: EUR 30.2 million). The EPS (Earnings
per Share) increased from EUR 1,39 EUR to EUR 2,17. For the current year,
Biotest has set itself the target of increasing sales by 10% and
maintaining EBIT at the exceptional level of the previous year.
As in previous years, growth in 2008 was fuelled by the outstanding success
of the Plasma Proteins business. In this segment, Biotest was able to
increase sales by 37.4 % to EUR 339.5 million. Excluding the contribution
to sales of the Biotest Pharmaceuticals Corporation in the US, which were
consolidated for a twelve month period for the first time in 2008, sales in
this segment increased by 11.5%. Biotest was able to expand its position in
all its core markets, whereas every product group contributed to the
growth.
In the Microbiological Monitoring business, Biotest increased its sales by
9.1% to EUR 38.3 million compared to the previous year, while in the
Medical Diagnostics segment, sales were up by 2.0% to EUR 45.2 million.
These two segments emerged from the division of the former called segment
Diagnostics.
The continued internationalisation of the Group is represented by the fact,
that in 2008, more than 73% of the sales were generated in markets outside
of Germany. In the previous year this figure was just at 68 %. The
development of the employees also reflects the increasing globalisation of
the Biotest Group. At the end of 2009 the Group employed 1,952.3 full time
employees, out of which almost 40% were based outside Germany, mainly in
the USA.
'By acquiring the US business Biotest has moved into new dimensions as a
supplier of Plasma Proteins', Prof. Gregor Schulz, Chairman of the
Management Board of Biotest AG said commenting on the results. 'Our high
expectations with regards to the acquisition have been realised'. By
obtaining approval for additional products at the European level and the
continued expansion of production capacities, Biotest provides the basis
for further growth. With the EMEA production licence for new products from
the new facility in Dreieich, which is anticipated to be granted on 19
March 2009, Biotest will be able to produce up to four tonnes of
immunoglobulins per year (the current annual capacity is two tonnes). By
the end of this year, the total capacity will rise to 5.5 tonnes by also
expanding the USA facilities.
The demand for Plasma Proteins in the core markets Europe and the USA is
likely to grow, driven by new treatment indications. However the strong
increase in blood plasma supply may result in the fact, that prices may not
increase to such an extent, as this was the case in the previous years. In
some markets, stable or slightly falling prices could be observed, but
signs of a dramatic price erosion are not seen.
In the Biotherapeutics segment, which includes all monoclonal Antibodies
(mAbs) in development, important milestones were reached in 2008. A first
analysis of blinded data of a Phase IIa Study in the indication of
Rheumatoid Arthritis suggests that BT-061 shows high efficacy. On the basis
of these results in combination with previous data in the indication
Psoriasis, Biotest has entered into negotiations with potential licensing
and Co-Marketing partners, who should be involved in the more expensive
clinical Phase III development program. Biotest anticipates, that an
agreement will be reached by the end of 2009.
BT-062, a monoclonal Antibody which is developed in the indication of
Multiple Myeloma, was generally well tolerated in critically ill patients.
Biotest has hardly been affected by the economic and financial crisis so
far. The figures of the first months of the year indicate a good start in
2009. The Group also has an adequate and long term financing in place.
However, the future development is subject to increased risks, which are
being closely monitored by the company. In this regards, Biotest has
intensified its internal cost controlling further.
Biotest will be publishing its annual report on March 23, 2009. The major
elements of the Group accounts, including the income statement, balance
sheet and cash flow statement, are available for download from the Biotest
website (www.biotest.de).
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 is a company that researches and manufactures pharmaceutical,
biotherapeutic and diagnostic products and has specialised in the areas of
application of immunology and haematology. In its Plasma Proteins segment,
Biotest develops and markets immunoglobulins, coagulation factors and
albumins based on human blood plasma. These are used for diseases of the
immune and haematopoietic systems. In the Biotherapeutic segment, Biotest
researches into the clinical development of monoclonal antibodies,
including in the indications of rheumatoid arthritis and leukaemia. The
Microbiological Monitoring segment comprises reagents and systems for
microbiology, which are primarily used in hygiene monitoring. Products
manufactured by the Medical Diagnostic segment are used, for example, in
blood transfusions and transplants. Biotest has around 2,000 employees
worldwide. The shares of Biotest AG are listed in the SDAX of Deutsche
Börse.
Biotest AG, Landsteinerstr. 5, D-63303 Dreieich, www.biotest.de
Dr. Monika Buttkereit, Tel: +49 (0) 6103 801-4406,
e-mail: investor_relations@biotest.de
Fax: +49 (0) 6103 801-347
WKN, ISIN ordinary share: 522720, DE0005227201
WKN, ISIN preference share: 522723, DE0005227235
Listed: Prime Standard/official trading
Frankfurt, Berlin, Düsseldorf, Hamburg, Stuttgart
11.03.2009 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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