PRESS RELEASE

Biotest exceeds EBIT forecast in the 2019 financial year

• Revenue forecast met with revenue growth of 4.7%
• EBIT in core business very profitable at € 68.6 million
• Three new plasma centres to open in 2019
• Biotest invites to the virtual Annual General Meeting on 8 May, 2020

 

Dreieich, 30 March, 2020. The Biotest Group generated sales of € 419.1 million from continuing operations in financial year 2019, compared to € 400.3 million in the previous year. This corresponds to a 4.7% increase in sales.

EBIT of continuing operations in financial year 2019 was € -1.2 million after € 10.6 million in the previous year.

As in the previous year, the core business of the Biotest Group presented in the adjusted EBIT is very profitable at € 68.6 6 million.

* The research and development cost for products that can be produced only at the new facility
were added to the costs for Biotest Next Level.

Earnings before taxes (EBT) for the continuing operations of the Biotest Group amounted to € -1.3 million after € -6.0 million in the same period of the previous year.

Earnings after taxes (EAT) of the Biotest Group from continuing operations were thus € -4.7 million (same period last year: € -12.9 million). This results in earnings per ordinary share of € -0.13 € after € - 0.34 € in the previous year.

The Biotest Group met its sales forecasts for financial year 2019 and exceeded its EBIT forecast.

Biotest expanded the Group's own network of plasma stations again in 2019 and integrated a new collection centre in Germany, the Czech Republic and Hungary into the network of 22 stations. Hereby, the company has further expanded the strategically important self-supply with blood plasma.

As part of our Biotest Next Level expansion project, which will significantly increase both our productivity and our production capacity, the first of three approval inspections by the regulatory authorities at the Dreieich site in was passed in November 2019. The media supply to the production and the clean rooms were successfully approved by the authorities. In the next inspection planned for June 2020, the focus will be on the qualification of the production facilities, the in-process laboratories and the entire documentation of the future production operation. An inspection of the production of the so-called consistency batches is expected to accompany the production in the fourth quarter of 2020.

Outlook 2020:
For financial year 2020, the Board of Management expects sales growth of about 10%. Earnings in 2020 will be influenced by various factors. Besides the expected expenses of € 80 million to € 90 million from the Biotest Next Level expansion project, including the associated research and development costs, the tense situation in the crisis regions, particularly in the Middle East and Asia, could also have an impact. Based on the aforementioned factors, the Board of Management expects EBIT to be between € -10 million and € -5 million. For EBIT adjusted for the impact on earnings of the Biotest Next Level project, the Board of Management anticipates an increase to € 70 million to € 85 million.

The forecast for the financial year 2020 was prepared on the assumption that the spread of the coronavirus will not have any significant negative impact on Biotest's business performance. However, the high level of uncertainty currently prevailing with regard to the further spread of the coronavirus and possible economic consequences limits the certainty of the planning assumptions.

As an innovative company, Biotest is making immediate use of the new legal situation and is one of the first German companies to invite shareholders to a virtual general meeting on 8 May. In this way, Biotest is taking account of the legitimate interest of shareholders in comprehensive information and prompt dividend payment, while at the same time taking into account the health of shareholders in the special corona situation.

The annual report 2019 is available on the company's website at . There will be a download available on the website of the presentation of the conference call for analysts and journalists on April 1, 2020.

 

About Biotest
Biotest is a provider of plasma proteins and biological drugs. With a value added chain that extends from pre-clinical and clinical development to worldwide sales, Biotest has specialised primarily in the areas of clinical immunology, haematology and intensive medicine. Biotest develops and markets immunoglobulins, coagulation factors and albumin based on human blood plasma. These are used for diseases of the immune and haematopoietic systems. Biotest has more than 1,800 employees worldwide. The ordinary and preference shares of Biotest AG are listed in the Prime Standard on the German stock exchange.

IR contact
Dr Monika Buttkereit
Phone: 06
Mail:

PR contact
Dirk Neumüller
Phone: 9
Mail:

Biotest AG, Landsteinerstr. 5, 63303 Dreieich, Germany,

Ordinary shares: securities' ID No. 522720; ISIN DE0005227201
Preference shares: securities' ID No. 522723; ISIN DE0005227235
Listing: Frankfurt (Prime Standard)
Open Market: Berlin, Düsseldorf, Hamburg/ Hanover, Munich, Stuttgart, Tradegate

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.