31.08.2018
B.R.A.I.N. Biotechnology Research And Information Network AG DE0005203947
DGAP-News: B.R.A.I.N. Biotechnology Research And Information Network AG: BRAIN AG reports growth for the first nine months of the 2017/18 financial year
DGAP-News: B.R.A.I.N. Biotechnology Research And Information Network AG /
Key word(s): Quarter Results/Quarterly / Interim Statement
B.R.A.I.N. Biotechnology Research And Information Network AG: BRAIN AG
reports growth for the first nine months of the 2017/18 financial year
31.08.2018 / 08:30
The issuer is solely responsible for the content of this announcement.
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BRAIN AG reports growth for the first nine months of the 2017/18 financial
year
* Total operating performance of BRAIN Group up 5.0% to EUR 20.5 million
* Growth is largely driven by the successful acquisition of Biocatalysts
Ltd.
Zwingenberg, Germany
August 31, 2018
B.R.A.I.N. Biotechnology Research and Information Network AG today published
its financial results for the first nine months of fiscal year 2017/18.
Accordingly, BRAIN Group's total operating performance for the reporting
period from October 1, 2017, to June 30, 2018, amounted to EUR 20.5 million
compared to EUR 19.6 million in the previous year's period, representing a
year-on-year growth of approximately 5.0%. Group revenues for the reporting
period increased from EUR 17.9 million to EUR 18.1 million. Adjusted Group
EBITDA was EUR -4.1 million compared to EUR -3.3 million in the previous
year.
The product-related BioIndustrial segment recorded an increase in total
operating performance of 73.5% to EUR 5.7 million in the third quarter
2017/18 compared to the previous year's quarter. In the first nine months of
fiscal year 2017/18, the BioIndustrial segment's total operating performance
improved by 27.7% year-on-year to EUR 12.5 million (previous year EUR 9.8
million). Adjusted EBITDA of the BioIndustrial segment for the first nine
months of fiscal year 2017/18 decreased from EUR 0.4 million in the previous
year to EUR 0.2 million. The weaker EBITDA is mainly due to negative volume
effects.
The BioScience segment, which reflects industrial co-operations, again
posted a year-on-year decline in total operating performance of -15.8% from
EUR 3.0 million to EUR 2.5 million in the third quarter of 2017/18. Total
operating performance in the BioScience segment in the first nine months of
2017/18 fell by -17.6% year-on-year to EUR 8.1 million (previous year EUR
9.9 million). Adjusted EBITDA decreased in the first nine months of fiscal
2017/18 from EUR -3.6 million in the prior-year period to EUR -4.4 million.
In the coming fiscal year 2018/19, the BioScience segment is expected to
benefit from additional momentum generated by the business development
activities launched in the United States in the current fiscal year.
Growth focus on proprietary products
"The acquisition of Biocatalysts Ltd. in March 2018 significantly
strengthened our product-driven BioIndustrial segment. In the first nine
months of fiscal year 2017/18, BRAIN posted significant double-digit growth
in the product-related BioIndustrial segment, although this development was
particularly acquisition-related. The weaker development in some areas
within the BioIndustrial segment still had an impact in the quarter under
review. We expect a stronger momentum for the remainder of the fiscal year
there as well," says Frank Goebel, CFO of BRAIN AG.
Dr Jürgen Eck, CEO of BRAIN AG, adds: "The focus of our growth strategy is
on the BioIndustrial segment and thus on the product business of BRAIN
Group. We have made some encouraging progress in this area in the current
financial year so far. We want to continue this positive development in the
future. To this end, we will continue to systematically expand our industry
partnerships and our own development pipeline as well as our M&A strategy
and the production and marketing of products via the BRAIN Group. We focus
on our key development programs in market segments such as nutrition and
health. It is our ambition to bring innovative products of the BRAIN Group
to market as fast as possible. We expect the BRAIN Group to achieve
double-digit growth in total income for the 2017/18 financial year as a
whole, resulting from both organic and inorganic growth."
Key financials (first nine months of fiscal year 2017/18)
(in EUR million) 9M 9M
2017/1- 2016/1-
8 7
Revenues 18.1 17.9
Total operating performance1 20.5 19.6
BioScience 8.1 9.9
BioIndustrial 12.5 9.8
Adjusted EBITDA -4.1 -3.3
Share based employee compensation AnalytiCon -0.2 -0.6
Discovery GmbH
Post IPO Framework Agreement 0.0 -2.4
Acquisition and integration costs -0.9 0.0
EBITDA -5.2 -6.2
Operating cash flow -6.2 -4.2
Cash & cash equivalents as of 30.06. 26.0 8.1
1 Revenues + change in inventories + other income including R&D grants
More detailed information on the financial results are available at
www.brain-biotech.de/en/investor-relations/financial-publications as part of
the quarterly statement for the period ended June 30, 2018.
+++ENDS+++
About BRAIN
B.R.A.I.N. Biotechnology Research and Information Network AG (BRAIN AG; ISIN
DE0005203947 / WKN 520394) is one of Europe's leading technology companies
in the field of industrial biotechnology, the core discipline of Bioeconomy.
As such, BRAIN identifies previously untapped, efficient enzymes, microbial
producer organisms or natural substances from complex biological systems
that can be put to industrial use. The innovative solutions and products
developed by help of this "Toolbox of Nature" are successfully applied in
the chemistry, the cosmetics and the food industries. BRAIN's business model
is based on two pillars - BioScience and BioIndustrial. The BioScience
comprises its frequently exclusive collaboration business with industrial
partners. BioIndustrial comprises the development and commercialization of
BRAIN's own products and active product components. Further information is
available at www.brain-biotech.de/en.
Investor Relations Contact:
BRAIN
Biotechnology Research
And Information Network AG
Dr. Martin Langer
Executive Vice President
Corporate Development
Darmstädter Str. 34-36
64673 Zwingenberg
Germany
Tel.: +49-(0)-6251-9331-0
Fax: +49-(0)-6251-9331-11
E-Mail: [email protected]
www.brain-biotech.de
Disclaimer
This press release contains forward-looking statements. These statements
reflect the current views, expectations, and assumptions of the management
of BRAIN AG and are based on information currently available to the
management. Forward-looking statements are not guarantees of future
performance and involve known and unknown risks and uncertainties that could
cause actual results, performance or events to differ materially from those
expressed or implied in such statements. There are numerous factors which
could influence the future performance by and future developments at BRAIN
AG and the BRAIN group of companies. Such factors include, but are not
limited to, changes in the general economic and competitive environment,
risks associated with capital markets, currency exchange rate fluctuations,
changes in international and national laws and regulations, in particular
with respect to tax laws and regulations, and other factors. BRAIN AG does
not undertake any obligation to update or revise any forward-looking
statements.
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31.08.2018 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.
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Language: English
Company: B.R.A.I.N. Biotechnology Research And Information Network
AG
Darmstädter Straße 34-36
64673 Zwingenberg
Germany
Phone: +49 (0) 62 51 / 9331-0
Fax: +49 (0) 62 51 / 9331-11
E-mail: [email protected]
Internet: www.brain-biotech.de
ISIN: DE0005203947
WKN: 520394
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart, Tradegate Exchange
End of News DGAP News Service
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