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Biotest AG: Biotest increases sales by 1.8% to EUR 294.9 million

DGAP-News: Biotest AG / Key word(s): Quarter Results
14.11.2019 / 07:00
The issuer is solely responsible for the content of this announcement.


Biotest increases sales by 1.8% to EUR 294.9 million

- Expansion project Biotest Next Level: successful first inspection by Darmstadt Regional Council

- Phase III study of IgG Next Generation in Immunothrombocytopenia (ITP) completed

- Long-term financing of the Biotest Group

Dreieich, 14 November 2019. In the first nine months of 2019, the Biotest Group generated revenue of EUR 294.9 million, after EUR 289.6 million in the same period of the previous year. This 1.8% increase is mainly due to the positive sales development in the Therapy segment. The reasons for this were the intensified sale of selected plasma products in attractive markets and rising sales volumes.

EBIT for the first nine months of financial year 2019 amounted to EUR -8.2 million (same period of the previous year: EUR 5.1 million). This includes expenses for the Biotest Next Level project of EUR 49.7 million (same period of the previous year: EUR 37.8 million) and income from insurance compensation of EUR 9.5 million. The year-on-year decline in EBIT is primarily due to higher production costs, which were caused by the increase in costs for the start-up phase of the Biotest Next Level manufacturing site. In addition, an 8.7% increase in research and development costs had a negative impact on EBIT. The increase is due to the production of clinical material for the development projects IgG Next Generation and Trimodulin.

The financial result for the first nine months of 2019 in the amount of EUR 6.3 million improved by EUR 23.2 million year-on-year (same period of the previous year: EUR -16.9 million). The main reasons were lower financial expenses and a EUR 14.3 million increase in the valuation of ADMA Biologics Inc. shares on the balance sheet date, which are still attributable to Biotest. In the previous year, the financial expenses were burdened by prepayment penalties and waiver fees in the amount of EUR 9.3 million.

Earnings after taxes from continuing operations therefore improved to
EUR -2.9 million in the first nine months of 2019 compared with EUR -6.6 million in the same period of the previous year.

For the first nine months of 2019, Biotest Group's total earnings after taxes (EAT) were
EUR -2.9 million (same period of the previous year: EUR 190.9 million).

With regard to the ongoing clinical studies, a further milestone was reached. The IgG Next Generation Phase III study in ITP (immunotrombocytopenia) has been completed. In the study 34 patients have been treated. The evaluation of the data is currently taking place. Initial results confirm expectations regarding efficacy and safety.

In the first nine months of the year, good progress was made on the Biotest Next Level expansion project at the Dreieich site. The qualifications of the clean rooms and media systems are in progress were approved by the Darmstadt Regional Council (Regierungspräsidium Darmstadt, Germany) in November 2019. In parallel, the commissioning of the processing plants was started and their approval by the Darmstadt Regional Council is expected for 2020.

For the 2019 financial year, the Management Board expects sales to rise by a mid-single-digit percentage. Earnings in 2019 will be influenced by various factors. In addition to the expected expenses from the Biotest Next Level expansion project, the tense situation in crisis regions, particularly in the Middle East, could have an impact. In addition, a partner is being sought for advanced development projects.

The partnering efforts are more complex and more time-consuming than expected, so that the possibility of the forecast without partnering cannot be ruled out. An EBIT of EUR -15 to -35 million would thus be expected, while an EBIT of EUR -5 to +5 million is forecasted if partnering agreements are successfully concluded.

The nine-month report and a presentation to investors are available on the company's website at available.

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 1,800 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

PR contact
Dirk Neumüller
Phone: +49-6103-801-269

Biotest AG, Landsteinerstr. 5, 63303 Dreieich, Germany,

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

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.

14.11.2019 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: Biotest AG
Landsteinerstraße 5
63303 Dreieich
Phone: 0 61 03 - 8 01-0
Fax: 0 61 03 - 8 01-150
ISIN: DE0005227235, DE0005227201
WKN: 522723, 522720
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 912075

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Last Updated: 14-Nov-2019