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Biotest AG: Biotest exceeds Sales and EBIT forecast in the 2020 financial year

DGAP-News: Biotest AG / Key word(s): Annual Results
31.03.2021 / 09:00
The issuer is solely responsible for the content of this announcement.


Biotest exceeds Sales and EBIT forecast in the 2020 financial year

- Revenue forecast exeeded with revenue growth of 15.5%

- EBIT in core business very profitable at € 78.4 million

- Biotest invites to the virtual Annual General Meeting on 11 May, 2021

Dreieich, 31 March, 2021. In financial year 2020, the Biotest Group generated sales of
€ 484.2 million, compared to € 419.1 million the previous year. This equates to a 15.5 % increase in sales.

Despite the ongoing corona crisis, Biotest's sales in the Therapy segment developed very positively. This growth was mainly achieved in key sales markets due to the positive development of sales of the main products immunoglobulins and albumin.

EBIT amounted to € -1.3 million in financial year 2020, compared to € -1.2 million the previous year.

The Biotest Group's core business (adjusted EBIT) is clearly positive at € 78.4 million.

in € million     2020     2019
EBIT     -1.3     -1.2
Expenses for Biotest Next Level*     79.6     68.4
Expenses for monoclonal antibodies     0.1     1.4
Adjusted EBIT     78.4     68.6

* The research and development cost for products that can be produced only at the new facility
were added to the costs for Biotest Next Level.

For the Biotest Group, earnings before taxes (EBT) came in at € -30.0 million, compared to € -1.3 million in the same period of the previous year.

The Biotest Group's earnings after taxes (EAT) for financial year 2020 were € -31.4 million compared to
€ -4.7 million in 2019, resulting in earnings per ordinary share of € -0.80 compared to € -0.13 in the previous year.

Three activities against COVID-19 infection:

With three projects, the Biotest Group is working to contribute to the solution of the corona crisis:

1. Due to the high similarity of the clinical picture to the patients treated in the phase II CIGMA study, Biotest sees significant potential for Trimodulin also in patients with severe pneumonia caused by COVID-19 infection. A phase II study (ESsCOVID - Escape from severe COVID-19) has been initiated in COVID-19 patients to accelerate the development of Trimodulin in light of the current COVID-19 pandemic. Patient recruitment of this study started in October 2020 and is currently ongoing.

2. As part of Biotest's participation in the CoVIg-19 Plasma Alliance together with other pharmaceutical manufacturers of plasma preparations, Biotest has produced a new hyperimmunoglobulin from the plasma of donors with antibodies against the new coronavirus. In 2021, it is planned to receive marketing authorization for the new preparation in Europe as part of the alliance's development activities

3. Biotest AG's Hungarian subsidiary has been exclusively contracted by the Hungarian National Health Initiative to collect plasma from cured COVID-19 patients in order to use this high antibody content plasma directly therapeutically in severely ill patients.

Outlook 2021:
For financial year 2021, the Board of Management expects sales growth in the mid-single-digit percentage range. Earnings in 2021 will be influenced by various factors. Besides the expected expenses of € 75 million to € 85 million from the Biotest Next Level expansion project, including the associated research and development costs the tense situation in the crisis regions, particularly in the Middle East and Asia, as well as the global impact of the COVID-19 pandemic, could also have an impact. Based on the aforementioned factors, the Board of Management expects EBIT to be between € -5 million and € -10 million. For EBIT adjusted for the impact on earnings of the Biotest Next Level project, the Board of Management anticipates an amount between € 65 million and € 80 million.

The forecast for the financial year 2021 was prepared on the assumption that the spread of the coronavirus will not have any further significant negative impact on Biotest's business performance. However, the high level of uncertainty currently prevailing with regard to further possible economic consequences limits the certainty of the planning assumptions.

The annual report 2020 is available on the company's website at There will be a download available on the website of the presentation of the conference call for analysts and journalists on March 31, 2021.

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 1,900 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.

31.03.2021 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.

The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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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: 1179843

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Last Updated: 31-Mar-2021