22.03.2018
Biotest AG DE0005227235
DGAP-News: Biotest AG: Biotest reaches 2017 profit guidance
DGAP-News: Biotest AG / Key word(s): Final Results
Biotest AG: Biotest reaches 2017 profit guidance
22.03.2018 / 07:00
The issuer is solely responsible for the content of this announcement.
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PRESS RELEASE
Biotest reaches 2017 profit guidance
- Adjusted EBIT stable
- Five new plasmapheresis centres opened in Europe
- Biotest Next Level: building acceptance obtained and successful "Good
Manufacturing Practice" (GMP) inspection
Dreieich, 22 March 2018. Taking into account the results of the US business,
which still belonged to the Biotest Group in 2017, the Biotest Group met the
earnings guidance for the 2017 financial year adjusted in April 2017, after
the human albumin recall. EBIT from continuing and discontinued operations
reached EUR 18.0 million (previous year: EUR -21.5 million). The revenue of
the continuing and discontinued operations amounted to EUR 541.2 million for
the 2017 financial year (previous year: EUR 610.4 million).
In the 2017 financial year, the Biotest Group generated revenue of
EUR 378.1 million. This is a decrease of 7.3 % compared to the previous
year, in which sales of EUR 408.0 million were generated. The EBIT in
continuing operations was EUR -9.3 million in the 2017 financial year,
compared to EUR 35.2 million in the previous year. The decrease in revenue
and EBIT is mainly due to the recall of human albumin and the temporary
interruption of human albumin production.
The core business of the Biotest Group (adjusted EBIT from continuing
operations) is on previous year level, and at EUR 86.6 million it is clearly
positive.
In EUR millionen 2016 2017
EBIT 35.2 -9.3
Expenses for Biotest Next Level* 37.8 53.9
Expenses for monoclonal antibodies 11.2 7.6
Expenses for strategic reorientation - 11.5
Expenses for human albumin recall taking - 22.9
into account the insurance compensation
Adjusted EBIT 84.2 86.6
* 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.
The Biotest Group's total earnings after taxes (EAT) from continuing and
discontinued operations amounted to EUR -3.5 million (previous year:
EUR -45.7 million). This results in earnings per share of EUR -0.09 after
EUR -1.17 in the previous year.
In the past year the company made further progress regarding the important
Biotest Next Level project. Obtaining the building acceptance in August 2017
was an important milestone. Moreover, the newly constructed laboratories at
the Dreieich site successfully passed the "Good Manufacturing Practice"
(GMP) inspection of the Darmstadt Regional Authority. The project shall
allow much more effective use of plasma as a raw material in the future,
increase yields in the production process and thus improve profitability.
Five new plasmapheresis centres were opened in 2017 which considerably
expanded the plasma collection network in Europe. With this Biotest is
securing the sufficient future supply of the most important raw material,
human blood plasma.
In Creat, Biotest has a strong partner who will support the significant
investments in products and facility over the coming years.
Outlook 2018
In the 2018 financial year, the Board of Management expects sales of
continuing operations to increase by a mid-single-digit percentage. Earnings
will be influenced by various factors in 2018. Besides the deliberately
further increased expenses as part of the Biotest Next Level expansion
project of
EUR 60 to 70 million - including the associated research and development
costs - the price pressure that is expected to persist in Europe in 2018 and
the continued tense situation in the crisis regions, especially in the
Middle East, could be noticeable. Due to the above influences, the Board of
Management anticipates EBIT of continuing operations in the range of EUR 10
to 12 million. Without the adverse profit effects from the Biotest Next
Level project, the adjusted EBIT would be approximately EUR 70 to 80
million.
The annual report 2017 is available on the company's website at
http://www.biotest.com/de/en/investor_relations/news_and_publications/publications/presentations_and_analyst_call.cfm.
Also available for download from the website is the presentation for today's
conference for analysts and journalists.
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 albumins based on human blood
plasma. These are used for diseases of the immune and haematopoietic
systems. In addition Biotest develops monoclonal antibodies in the
indications of cancer of plasma cells and systemic lupus erythematosus which
are produced by recombinant technologies. Biotest has more than 1,600
employees worldwide. The preference shares of Biotest AG are listed in the
SDAX on the Frankfurt stock exchange.
IR contact
Dr. Monika Buttkereit
phone: +49-6103-801-4406
email: [email protected]
PR contact
Dirk Neumüller
phone: +49-6103-801-269
email: [email protected]
Biotest AG, Landsteinerstr. 5, 63303 Dreieich, Germany, www.biotest.com
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.
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22.03.2018 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
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Language: English
Company: Biotest AG
Landsteinerstraße 5
63303 Dreieich
Germany
Phone: 0 61 03 - 8 01-0
Fax: 0 61 03 - 8 01-150
E-mail: [email protected]
Internet: http://www.biotest.de
ISIN: DE0005227235, DE0005227201
WKN: 522723, 522720
Indices: SDAX
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange
End of News DGAP News Service
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666999 22.03.2018
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