B.R.A.I.N. Biotechnology Research And Information Network AG: BRAIN AG publishes preliminary results for the financial year 2018/19
DGAP-News: B.R.A.I.N. Biotechnology Research And Information Network AG
/ Key word(s): Preliminary Results/Annual Results
BRAIN AG publishes preliminary results for the financial year 2018/19
12 December 2019
According to its preliminary results published today, B.R.A.I.N. Biotechnology Research and Information Network AG ("BRAIN AG") can look back on a successful 2018/19 financial year. After a strong fourth quarter, the BRAIN Group generated consolidated revenues of EUR 38.6 million in the past financial year. This is an increase of 42.5 percent over the previous year (EUR 27.1 million). Both organic growth and the acquisition of the Biocatalysts Group in March 2018 contributed to this development. Adjusted to exclude the acquisition, organic revenue growth amounted to approximately 21.5 percent compared with the previous year.
Total operating performance, i.e. revenues plus subsidies, other income and changes in inventories, rose by around 35.3 percent from EUR 30.5 million to EUR 41.2 million in the reporting period. All regional markets and business units (Nutrition & Health, Skin Care and Industrial BioSolutions) developed positively and contributed to this growth.
"We have impressively achieved our growth targets for the past financial year - not only through acquisitions, but also organically. With the increasing expansion of product sales in the high-growth BioIndustrial segment, we have laid the foundation for further profitable growth and a successful future for the BRAIN Group. We have set the course," commented CEO Dr Jürgen Eck, who will leave the company at the end of the year.
Growth in all business segments
The research-related BioScience segment, which includes industrial co-operations, also performed well. Revenues in this segment increased by 46.7 percent year-on-year to EUR 12.2 million. This was due to both the new contracts signed in the Tailor-Made Solutions business unit and to the follow-up projects under strategic product development partnerships. Adjusted EBITDA in the BioScience segment, which also includes research and development expenses for the new product pipeline, also made good progress compared with the previous year (EUR -6.3 million) at EUR -5.0 million.
Substantially improved operating result
"The direction is right," says CFO Manfred Bender. "We have achieved or even exceeded our sales and earnings targets and are now aiming to continue this positive development. With the acquisition of Biocatalysts in March 2018 and the sale of Monteil Cosmetics GmbH in the past financial year, we have taken important steps towards strengthening our B2B product business."
CBO Ludger Roedder adds: "Now we are consistently pushing ahead with the profitable commercialisation. And of course, we will not lose sight of the progress of the development projects. Innovations are an essential cornerstone for future growth and research and development activities remain an integral part of our BRAIN DNA."
2 The reconciliation from adjusted to unadjusted EBITDA will be found in the consolidated balance sheet as of 30 September 2019.
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.
12.12.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
|Company:||B.R.A.I.N. Biotechnology Research And Information Network AG|
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|Phone:||+49 (0) 62 51 / 9331-0|
|Fax:||+49 (0) 62 51 / 9331-11|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|EQS News ID:||934233|
|End of News||DGAP News Service|