Biotest AG: Biotest has recorded sales growth in first quarter 2010 despite a difficult environment
Biotest AG / Quarter Results
06.05.2010 12:03
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Biotest has recorded sales growth in first quarter 2010 despite a
difficult environment
- Q1 2010: Revenue Growth of 5,2 % and EBIT decrease of 18,0 %;
Earnings after Tax nearly tripled due to extraordinary income from the sale of
Medical Diagnostics
- Outlook 2010 confirmed
Dreieich/ Frankfurt am Main, May 6, 2010 - In his speech at the Annual
Shareholder's Meeting today, the Chairman of the Management Board, Prof.
Dr. Gregor Schulz, announced preliminary sales, earnings before interest
and tax (EBIT) and earnings after tax figures of the Continuing Business
for the first quarter 2010.
Sales in the first quarter 2010 increased by 5.2% to EUR 115.0 million.
Earnings before Interest and Tax (EBIT) accounted for EUR 12.3 million,
which represents a decrease of 18.0 % compared to the previous year's
period. The reasons were, for one, substantial price declines for
immunoglobulins in a number of European core markets that led to lower
profitability. And secondly, although we were able to maintain our market
share for coagulation factors in Russia, we were forced to make price
concessions.
The Biotest Group's profit after tax in the first quarter of 2010 was nearly
three times as high as in the same period of the previous year. It
rose from EUR 7.7 million to EUR 22.6 million. This figure includes EUR
15.1 million from the sale of the Group's Medical Diagnostic business.
Based on the developments in the first three months of 2010, the Board of
Management reaffirms the targets set for the full year 2010 in the 2009
Annual Report. Biotest continues to expect sales growth in the low
single-digit percentage range and anticipates an operating profit (EBIT) at
the 2009 level, provided that no further price reductions occur and that we
succeed in selling more of our products in less price-sensitive markets.
The full version of Prof. Dr. Gregor Schulz's speech is available online
at:
http://www.biotest.de/ww/en/pub/investor_relations/shareholders_meeting.cfm
Disclaimer
This document contains forward-looking statements on overall economic
development as well as on the business, earnings, financial and assets
position 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
significant 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 provider of pharmaceutical and biotherapeutic drugs as well as
reagents and systems for microbiology. With a value added chain that
extends from pre-clinical and clinical development to worldwide sales,
Biotest has specialised primarily in the areas of application of immunology
and haematology. In its Plasma Protein 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 cancer of plasma cells. The products of the
Microbiological Monitoring segment are primarily used in hygiene
monitoring. Biotest has more than 1,900 employees worldwide. The preference
shares of Biotest AG are listed in the SDAX on the Frankfurt stock
exchange.
Biotest AG, Landsteinerstr. 5, D-63303 Dreieich,
Dr. Monika Buttkereit
tel.: +49 (0) 6103 801-4406,
e-mail: investor_relations@biotest.de
fax: +49 (0) 6103 801-347
www.biotest.de
06.05.2010 Ad hoc announcement, Financial News and Media Release distributed by DGAP.
Media archive at www.medientreff.de and www.dgap.de
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Language: English
Company: 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: DE0005227235, DE0005227201
WKN: 522723, 522720
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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