Biotest AG: Biotest records sales of € 115 million in the first quarter of 2022

DGAP-News: Biotest AG

/ Key word(s): Quarter Results

Biotest AG: Biotest records sales of € 115 million in the first quarter of 2022
05.05.2022 / 09:00

The issuer is solely responsible for the content of this announcement.

PRESS RELEASE

Biotest records sales of € 115 million in the first quarter of 2022

  • EBIT increase compared to the first quarter of 2021
  • EBIT includes Biotest Next Level expenses of € -20.3 million
  • Biotest signs license agreement for its novel immunoglobulin (IgG Next Generation)

Dreieich, 05 May, 2022. The Biotest Group recorded revenue of € 115.9 million in the first quarter of 2022. This represents a decrease of 3.4 % compared to revenue of € 120.0 million in the same period of the previous year.

Influenced by a worldwide increase in demand for immunoglobulins, while the pandemic situation remained difficult, Biotest was able to increase its revenues, especially of Intratect®, Biotest’s standard immunoglobulin, significantly above the previous year.

EBIT for the first quarter of 2022 amounted to € -5.0 million and was thus significantly above the previous year’s figure (same period of the previous year: € -9.3 million). In the current year, this includes expenses for the Biotest Next Level project in the amount of € 20.3 million (same period of the previous year: € 18.5 million). The increase in EBIT compared to the first quarter of 2021 is mainly due to the € 3.2 million increase in gross profit.

The Biotest Group’s result after taxes for the first quarter of 2022 increased to € -4.9 million after € -14.1 million in the same quarter of the previous year.

With the support within the framework of the granting of research and development allowances totalling € 29 million by the Federal Ministry of Education and Research (Bundesministerium für Bildung und Forschung BMBF) and the German Federal Ministry of Health (Bundesministerium für Gesundheit), Biotest is continuing the development programme for the development candidate Trimodulin in severe COVID-19 disease. Another phase III trial with Trimodulin in patients with severe community-acquired pneumonia is planned to start later this year.

In addition, Biotest intensified its efforts in the first quarter to be able to bring product candidates in the late clinical phase, such as Fibrinogen Concentrate and Trimodulin, through to approval quickly.

Further progress was made in the Biotest Next Level expansion project in financial year 2021. The last of the Process Performance Qualification PPQ batches was successfully produced at the beginning of August 2021. With the achievement of this milestone, all prerequisites for the successful commercial production of IgG Next Generation were met. All the data collected was compiled as part of the dossier preparation. The submission of the dossier to the drug authorities for IgG Next Generation took place on 31 March 2022. Approval for this and thus marketing authorisation for IgG Next Generation is expected at the end of 2022.

After the submission, Biotest was able to announce the signing of a licensing agreement for its novel immunoglobulin (IgG Next Generation) with the Saudi Arabian company Pharma Pharmaceutical Industries (PPI). Based on this agreement and with the help of Biotest’s immunoglobulin expertise and technology, PPI will be able to launch the first local polyvalent intravenous immunoglobulin in Saudi Arabia.

The voluntary takeover offer of Grifols S.A. published on 26 October 2021 for the shares of Biotest AG was effectively completed on 25 April 2022 (“Closing”). Following the completion of the public takeover offer and the completion of the acquisition of Tiancheng (Germany) Pharmaceutical Holdings AG, Grifols held 96.20% of the ordinary shares and 43.2% of the preference shares and thus held 69.72% of the share capital of Biotest AG. On May 2, 2022, Grifols, S.A. published pursuant to section 23 (2) sentence 1 WpÜG that Grifols, S.A. has acquired a further 0.94% of the voting rights of Biotest AG. Grifols, S.A. now holds a total of 97.14% of the voting rights of Biotest AG.

Outlook 2021:
The Biotest Group’s outlook has not changed significantly since its presentation in the 2021 Annual Report (pages 27 to 30). As described there, the Board of Management aims to maintain the revenue level of 2021 for financial year 2022, but also does not rule out 5-10 % lower revenue. Without the possible impact of the Russian attack on Ukraine, the Board of Management would have expected EBIT of € -20 million to € -25 million, taking accelerated R&D activities into account. This amount could more than double to € -40 to € -60 million if there were temporary production losses due to the below-mentioned risks.

The Quarterly statement is available on the company’s website at
https://www.biotest.com/de/en/investor_relations/news_and_publications/publications/quarterly_reports.cfm
The presentation for today’s virtual Annual General Meeting, as well as the speech of the Management Board, will also be available on the Biotest website.

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 2,000 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: +49-6103-801-4406
Mail: ir@biotest.com

PR contact
Dirk Neumüller
Phone: +49-6103-801-269
Mail: pr@biotest.com

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.


05.05.2022 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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