Biotest AG: Positive perspective despite difficult environment
Biotest AG / Quarter Results
12.08.2010 09:00
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Positive perspective despite difficult environment
- Final results for first half of 2010: sales increased by 4 %
- Earnings situation burdened by market environment
- Important progress in R&D projects achieved
Dreieich, 12 August 2010. The Biotest Group presented its half-year report
as of 30 June 2010 today. The Group recorded a slight revenue increase of
4% in the first half of 2010, taking sales to EUR227.1 million (first half
of 2009: EUR218.4 million) and generated earnings before interest and taxes
(EBIT) of EUR23.7 million (previous year: EUR31.2 million. These final
figures correspond to the preliminary figures published on 14 July 2010.
Earnings before interest, taxes, depreciation and amortisation (EBITDA)
decreased in comparison to the first half of 2009 (EUR44.1 million) by
14.5% to EUR37.7 million. Earnings before taxes (EBT) were at EUR20.4
million, representing a decline of 19.4% compared with the previous year's
figure (EUR 25.3 million). After deduction of income tax, the profit for
the period of the first six months of 2010 was EUR14.3 million (2009:
EUR17.5 million).
Including the contribution from the Discontinued Operation segment - which
consists essentially of the profit from the disposal oft the transfusion
and transplantation diagnostic activities - Biotest's profit after tax for
the first half of 2010 amounted to EUR29.7 million (2009: EUR16.0 million,
+85.6%).
The research and development projects in all segments are proceeding
according to plan. In the development of the monoclonal antibodies BT-061
and BT-062 important progress was achieved. For BT-061, preparations for a
phase IIb clinical trial in the indication rheumatoid arthritis were
completed.
The pressure on the prices for plasma proteins continues in the second
quarter of 2010. The quantity of raw material collected for plasma proteins
products (blood plasma) decreased slightly. Due to the long production
cycles and the high level of stocks, Biotest estimates that a
stabilisation, which is becoming apparent, will have no impact on the price
situation of the end products in the current year. Further burdens
on Biotest's sales and income is resulting from savings measures for the
public healthcare sector which are being discussed or are implemented in
various European countries.
The Board of Management therefore had adjusted its earnings target for the
Continuing Operations for the full year 2010. The Biotest Group anticipates
low, singledigit sales growth compared with the previous year (sales 2009:
EUR438.6 million) and EBIT totalling EUR45 million (+/-10%) (2009: EUR61.6
million). In its Discontinued Operations, Biotest will report a positive
EBIT which so far was EUR 18.4 million.
The half-year report can be downloaded from Biotest's website
(www.biotest.de).
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, www.biotest.de
Dr. Monika Buttkereit
tel.: +49 (0) 6103 801-4406,
e-mail: investor_relations@biotest.de
fax: +49 (0) 6103 801-347
Securities' ID No., ISIN ordinary shares: 522720, DE0005227201
Securities' ID No., ISIN preference shares: 522723, DE0005227235
Listing: Prime Standard/regulated market
Frankfurt, Berlin, Düsseldorf, Hamburg, Stuttgart
12.08.2010 Ad hoc announcement, Financial News and Press 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 Hamburg, Berlin, Düsseldorf, Stuttgart
End of News DGAP News-Service
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