Biotest AG: Biotest increases sales by 10% in the first half of 2021

DGAP-News: Biotest AG / Key word(s): Half Year Results
12.08.2021 / 07:00
The issuer is solely responsible for the content of this announcement.

PRESS RELEASE

Biotest increases sales by 10% in the first half of 2021

- Increase in plasma collection centres to 25 in Europe

- Manufacturing authorization for expansion project Biotest Next Level granted

- Guidance confirmed

Dreieich, 12 August 2021. In the first half of financial year 2021, the Biotest Group recorded a revenue in the amount of €257.8 million (same period of the previous year: €234.8 million). On a half-year basis, sales are €23.0 million or 9.8 % above the figure for the same period last year. In particular, sales of the immunoglobulin Intratect^(R) were significantly higher than in the previous year. Furthermore, sales of other products, such as Haemoctin^(R) and Albumin were also higher compared to the first half-year of 2020.

Earnings before interest and taxes (EBIT) amounted to €-8.5 million in the first six months of financial year 2021 (same period of the previous year: €0.7 million). This includes expenses of €38.0 million for the Biotest Next Level project (same period of the previous year: €40.3 million). The decline in EBIT compared to the previous year in the Therapy segment is the result of a disproportionate increase in manufacturing costs. The reasons for the higher cost of sales ratio are primarily higher prices for plasma, increased purchase prices for consumables and supplies, and a lower-margin country and product mix compared to the previous year.

For the Biotest Group, earnings before taxes (EBT) are at €-17.8 million after €-15.6 million in the same period of the previous year.

The Biotest Group's total earnings after taxes (EAT) for the first half of 2021 amounted to €-18.2 million (same period of the previous year: €-16.7 million).

Biotest was able to continue with the expansion of its plasma collection capacity in 2021. In the second quarter, the Hungarian health authority granted the operating license for the tenth plasma collection centre in Szombathely, Hungary and beginning of July 2021 the eleventh plasmapheresis centre in Sopron, Hungary. In the second quarter, Biotest received the operating license for the fifth Czech plasmapheresis centre in Budweis, Czech Republic, from the Czech health authority SUKL. As a result, Biotest had 25 plasma collection centres in Europe by the end of July 2021. The opening of additional plasma collection centres is planned for the rest of the year

In the Biotest Next Level expansion project, the next partial acceptance inspection was carried out by the Darmstadt Regional Council in March 2021, as part of the granting of the manufacturing authorisation in accordance with Section 13 of the German Medicinal Products Act. The focus of this inspection was on computer system validation and data management. The inspection was completed without any deficiencies. Production of the Process Performance Qualification (PPQ) batches began in the second quarter, which means that the IgG Next Generation development project is entering its final operational phase. These batches will also be used to produce the precursors for Albiomin, Haemoctin and Trimodulin. Based on these batches, evidence will then be provided that a product of consistent quality is reliably manufactured at the new production facility set up for the production of IgG Next Generation. In addition, the PPQ batches will be used to demonstrate that the production facilities are producing a preparation comparable to that previously produced for clinical trials. At the beginning of July 2021, the Darmstadt Regional Council completed the final approval of the Biotest Next Level production facility. Biotest was thus granted the manufacturing authorisation according to Section 13 of the German Medicinal Products Act.

Guidance:

For financial year 2021, the Board of Management expects revenue 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.

The 2021 half year report is available on the company's website at: https://www.biotest.com/de/en/investor_relations/news_and_publications/publications/quarterly_reports.cfm

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
Mail: investor_relations@biotest.de

PR contact
Dirk Neumüller
Phone: +49-6103-801-269
Mail: pr@biotest.com

Biotest AG, Landsteinerstr. 5, 63303 Dreieich, Germany, www.biotest.com

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

Disclaimer
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.

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