Biotest AG / Key word(s): Preliminary Results
Biotest AG: Biotest significantly exceeds Revenue and EBIT guidance
11-Feb-2021 / 17:54 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.
The issuer is solely responsible for the content of this announcement.
Biotest significantly exceeds Revenue and EBIT guidance
Dreieich, 11 February 2021. According to preliminary and not yet audited figures, Biotest AG increased its revenues by more than 15% to € 484 million in fiscal year 2020, compared to € 419 million in the previous year. The increase in revenues primarily resulted from higher sales in the regions Middle East and Africa and Rest of Europe. Among other things, the entry into the Chinese market had a positive impact.
Although the year-end closing work is still ongoing, it is becoming apparent that the operating result (earnings before interest and taxes, EBIT) in fiscal 2020 will be between € – 1 to – 2 million. In 2019, EBIT amounted to € – 1.2 million.
Thus Biotest Group concluded 2020 with a significantly better result than what has been published as EBIT guidance of € – 10 million for 2020. The improvement is mainly attributable to higher sales, lower administrative expenses and one-time other operating income in the fourth quarter.
In the 2020 financial year, EBIT continued to be impacted by higher expenses in connection with the start-up phase of the new Biotest Next Level production facility. In addition, higher research and development expenses for the new products, which will be manufactured exclusively in the Biotest Next Level facility, as well as two additionally, initiated development projects for a therapy against a COVID-19 infection negatively influenced the result.
Biotest will publish final results for the Financial Year 2020 and the annual report on March 31, 2021. The virtual Annual General Meeting of Biotest AG without physical presence will take place on May 11, 2021.
Biotest AG, Landsteinerstr. 5, 63303 Dreieich, Germany, www.biotest.com
Ordinary shares: securities’ ID No. 522720; ISIN DE0005227201
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|EQS News ID:||1167844|
|End of Announcement||DGAP News Service|