Biotest AG: Biotest shows sales growth in first quarter 2010 despite a difficult environment
Biotest AG / Quarter Results
11.05.2010 09:00
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Biotest shows sales growth in first quarter 2010 despite a difficult
environment
- Q1 2010: Revenue Growth of 5.2 % and EBIT decrease due to high R&D
expenses as well as price declines
- Earnings after tax nearly tripled to EUR 22.6 million due to extraordinary
income from the sale of Medical Diagnostics
- Outlook 2010 confirmed
Dreieich, May 11, 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 reason was a strong increase in R&D expenses,
mainly for the plasma proteins segment, but also for Biotherapeutics.
Pronounced price declines for immunoglobulins in a number of European core
markets also led to lower profitability.
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 Diagnostics business.
The Board of Management confirms 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.
More details on sales and earnings as well as on the progress of the
implementation of strategically important projects are described in
Biotest's Quarterly Report as of 31 March 2010. The Quarterly Report and a
short presentation for the conference call can be downloaded on Biotest's
website (www.biotest.com).
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
11.05.2010 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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