Biotest AG / Key word(s): Preliminary Results
Biotest AG: Biotest reaches FY 2017 EBIT guidance
27-Feb-2018 / 10:30 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
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Biotest reaches FY 2017 EBIT guidance
Dreieich, 27 February 2018. According to preliminary and unaudited figures, the Biotest Group generated in the 2017 financial year revenue of EUR 378.1 million in the continuing operations, compared to EUR 408.0 million in the previous year. The main reason for the decline in revenue was the recall of human albumin.
The former EBIT guidance, which included the continuing and discontinued US operations, was reduced on April 26, 2017 after the albumin recall from EUR 46 to EUR 48 million to EUR 16 to EUR 23 million for the 2017 financial year. This guidance, which included the earnings contribution of the US companies, was reached with EUR 18 million.
The EBIT in continuing operations amounted to EUR -9.3 million in the 2017 financial year after EUR 35.2 million in the previous year.
One-off expenses from inventory write-offs, penalties and other costs for the recall of various batches of human albumin as well as legal and consulting fees in connection with the takeover by Tiancheng (Germany) Pharmaceutical Holdings AG, Munich, Germany in the amount of EUR 37.7 million had a negative impact on the EBIT of continuing operations.
Biotest will publish final results for the Financial Year 2017 and the annual report on March 22nd, 2018. The Annual General Meeting of Biotest AG will take place on May 15th, 2018 in Frankfurt /.M.
Biotest AG, Landsteinerstr. 5, 63303 Dreieich, Germany, www.biotest.com
Ordinary shares: securities’ ID No. 522720; ISIN DE0005227201
27-Feb-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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