B.R.A.I.N. Biotechnology Research And Information Network AG: BRAIN is pleased with its results for the first nine months of the 2019/20 financial year
DGAP-News: B.R.A.I.N. Biotechnology Research And Information Network AG
/ Key word(s): Quarter Results/Quarterly / Interim Statement
BRAIN is pleased with its results for the first nine months of the 2019/20 financial year
Third quarter revenues increased by 8.4% to € 9.6 million from € 8.9 million in the same period last year. This growth was purely organic, achieved in both the BioScience and BioIndustrial segments.
"Particularly considering the general economic situation, we have achieved very good growth," says Manfred Bender, CFO of BRAIN AG. "The fact that this growth is more pronounced in our research-driven segment is again due to the higher business volume with existing customers as well as new contracts for tailormade solutions projects."
Development by segments
The BioScience segment generated revenues of € 10.5 million in the reporting period, up 37.5% from the prior-year period. Adjusted EBITDA improved from € -4.4 million to € -3.1 million.
Revenues of the BioIndustrial segment, which is related to product sales, decreased by 5.9% from € 20.3 million to € 19.1 million in the reporting period. Organically, revenues here increased by € 0.4 million or 2.1% from € 18.7 million to € 19.1 million. The adjusted EBITDA of the segment developed positively and increased by 9.2% from € 2.3 million to € 2.6 million. This corresponds to an adjusted EBITDA margin of 13.3% compared to 11.5% in the previous year.
The reasons for the weaker revenue growth in the product business are, in addition to the start of new production facilities in Cardiff (UK) and Büttelborn, the globally reduced demand for bioethanol and alcoholic beverages due to the Corona pandemic. The BRAIN subsidiary WeissBioTech supplies, among others, powerful enzymes to bioethanol producers and the wine industry.
Despite the ongoing Corona virus pandemic and the associated economic uncertainty, BRAIN AG is still confident to make further progress in the projected direction, albeit possibly at a slightly slower pace.
Key financials (first nine months of fiscal year 2019/20)
2 The reconciliation from adjusted to unadjusted EBITDA can be found in the quarterly statement for the period ended 30 June 2020.
BRAIN's business model is based on two pillars. The BioScience segment mainly comprises research and development business with industrial partners ("Tailor-Made Solutions" cooperation business), and the company's own research and development. The BioIndustrial segment consists mainly of business with industrially scalable products.
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 no 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.
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31.08.2020 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:||1125031|
|End of News||DGAP News Service|