Biotest AG: Biotest significantly exceeds Revenue and EBIT guidance
Biotest AG / Key word(s): Preliminary Results
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.
Ordinary shares: securities' ID No. 522720; ISIN DE0005227201
Dr. Michael Ramroth
Chief Financial Officer
Tel. +40 6103 801 338
Fax: +49 6103 801 347
11-Feb-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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