EQS-News: Biotest increases revenues in the first 9 months by 4.5% to Euro 523 million
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EQS-News: Biotest AG
/ Key word(s): 9 Month figures
PRESS RELEASE
Dreieich, Germany, November 14, 2024. The Biotest Group generated sales of € 522.7 million in the first nine months of the financial year 2024. This corresponds to an increase of 4.5% compared to the same period of the previous year (€ 500.3 million). Revenue from products and toll manufacturing increased by € 49.9 million or 13.7%, to € 414.4 million. In addition, revenue from technology disclosure and development services for Grifols, S.A. as part of the technology transfer and license agreement amounted to € 108.3 million, compared to € 135.4 million in the same period of the previous year. The new intravenous immunoglobulin Yimmugo® had a particularly positive impact, with sales increasing by € 25.5 million to € 41.6 million. Group EBIT decreased to € 71.1 million in the first nine months of 2024 from € 125.4 million in the same period of 2023. This development is largely due to the contribution from technology disclosure and development services as part of the technology and license agreement with Grifols, S.A. which reduced to € 87.3 million, compared to € 112.3 million. At € 37.0 million, adjusted EBIT, which reflects operating performance excluding exceptional items, was above the previous year’s level (€ 34.8 million). The financial result for the first nine months of the current financial year improved to € -26.6 million (previous year: € -29.3 million). This development is mainly due to the € 4.9 million decrease in interest expenses. Tax expenses increased by € 7.0 million to € 14.6 million compared to the previous year. As a result of the factors described above, earnings after tax (EAT) for the Biotest Group fell to € 29.9 million in the first three quarters of the 2024 financial year, compared to € 88.4 million in the same period of the previous year. This corresponds to earnings per ordinary share of € 0.75, compared with € 2.22 in the same period of the previous year. Biotest submitted the initial marketing authorization application for its fibrinogen concentrate (BT524) to the Paul-Ehrlich-Institute, following the decentralized procedure for approval in Germany, Austria and Spain. A first marketing authorization is expected for mid-2025.
Outlook: The Board of Management currently expects a revenue increase in the low single-digit percentage range for the 2024 financial year compared to 2023. This includes revenues from technology disclosure and from development services for Grifols, S.A. Previously, an increase in the high single-digit percentage range had been expected. The ongoing conflict in the Middle East poses significant risks to revenue and earnings. Economic instability in the region could lead to decreasing sales figures and may impact our financial performance. Additionally, supply chain disruptions may result in delays and increased costs. The return on capital employed (ROCE) for the 2024 financial year is to be corrected to the range of 5-8% and the cash flow from operating activities to a negative mid-double-digit million range. Previously, a slightly improved ROCE compared to the 2023 financial year (12.3% as of December 31, 2023) and a positive cash flow from operating activities significantly above the previous year's level have been expected (€ -2.7 million as of December 31, 2023). Measures to improve the cash flow have already been initiated. The Board of Management expects an operating result (EBIT) in a range between € 80 million and € 100 million for 2024. The nine-month report is available on the company's website under Quarterly Reports (biotest.com).
About Biotest Biotest (www.biotest.com) is a provider of biological therapeutics derived from human plasma. With a value-added chain that extends from preclinical and clinical development to worldwide sales, Biotest has specialized primarily in the areas of clinical immunology, hematology and intensive care medicine. Biotest develops and markets immunoglobulins, coagulation factors and albumin based on human blood plasma. These are used for diseases of the immune and hematopoietic systems. Biotest has more than 2,400 employees worldwide. The ordinary and preference shares of Biotest AG are listed in the Prime Standard on the German Stock Exchange. Since May 2022, Biotest has been a part of the Grifols Group, headquartered in Barcelona, Spain (www.grifols.com).
IR contact Dr Monika Baumann (Buttkereit)
PR contact Dirk Neumüller Biotest AG, Landsteinerstr. 5, 63303 Dreieich, Germany, www.biotest.com Ordinary shares: securities’ ID No. 522720; ISIN DE0005227201
Disclaimer
14.11.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | Biotest AG |
Landsteinerstraße 5 | |
63303 Dreieich | |
Germany | |
Phone: | 0 61 03 - 8 01-0 |
Fax: | 0 61 03 - 8 01-767 |
E-mail: | ir@biotest.com |
Internet: | www.biotest.com |
ISIN: | DE0005227235, DE0005227201 |
WKN: | 522723, 522720 |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 2030101 |
End of News | EQS News Service |
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2030101 14.11.2024 CET/CEST
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Nachrichten zu Biotest AG Vz.
Analysen zu Biotest AG Vz.
Datum | Rating | Analyst | |
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15.08.2018 | Biotest vz Neutral | equinet AG | |
07.08.2018 | Biotest vz Neutral | equinet AG | |
14.05.2018 | Biotest vz Neutral | equinet AG | |
22.01.2018 | Biotest vz Neutral | equinet AG | |
11.08.2017 | Biotest vz Neutral | equinet AG |
Datum | Rating | Analyst | |
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31.03.2017 | Biotest vz buy | Kepler Cheuvreux | |
30.03.2017 | Biotest vz buy | Kepler Cheuvreux | |
30.03.2017 | Biotest vz buy | equinet AG | |
24.03.2017 | Biotest vz buy | equinet AG | |
17.02.2017 | Biotest vz buy | Kepler Cheuvreux |
Datum | Rating | Analyst | |
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15.08.2018 | Biotest vz Neutral | equinet AG | |
07.08.2018 | Biotest vz Neutral | equinet AG | |
14.05.2018 | Biotest vz Neutral | equinet AG | |
22.01.2018 | Biotest vz Neutral | equinet AG | |
11.08.2017 | Biotest vz Neutral | equinet AG |
Datum | Rating | Analyst | |
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