Biotest AG: Biotest reports sales of Euro 361 million in the first nine months of 2022
EQS-News: Biotest AG
/ Key word(s): 9 Month figures
Biotest reports sales of € 361 million in the first nine months of 2022
Dreieich, 14 November 2022. In the first nine months of 2022, Biotest reported sales of € 360.8 million. This is more than satisfactory in view of the challenging global economic situation, the Corona pandemic and the difficult supply of human plasma.
EBIT amounted to € - 19 million in the first nine months of 2022, below the previous year's value of € - 11.2 million mainly arising from a higher investment of € 63.9 million in the Biotest Next Level project (€ 57.5 million in the same period of 2021), which aims to increase production capacity in Dreieich, Germany, and develop three key R&D projects.
Adjusted for the expenses for the Biotest Next Level expansion project, EBIT amounted to € 44.9 million in the first nine months of 2022 and was thus clearly positive, as in the previous year (same period of the previous year: € 46.3 million).
Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to € 7.9 million in the first nine months of 2022 (€ 10.1 million in the same period of 2021).
Influenced by a worldwide increase in demand for immunoglobulins, while at the same time the pandemic situation remained difficult, Biotest was able to increase sales, particularly of Intratect®, with an adjusted pricing policy. However, this development could not fully compensate for the decline in sales in the other product areas.
Further progress was made in the Biotest Next Level expansion project. Biotest has received approval for new intravenous immunoglobulin Yimmugo® (IgG Next Generation). Yimmugo® is the first commercial preparation to be produced in an innovative manufacturing process in the new "Biotest Next Level" production facility at the Dreieich site. The new approval of Yimmugo® thus represents an important milestone on the way to a broader portfolio, greater product availability as well as a more sustainable use of the valuable raw material plasma.
Furthermore Biotest continues to work intensively on bringing the product candidates Trimodulin and Fibrinogen, which are currently in phase III, to marketing authorization as soon as possible.
With support from the Federal Ministry of Education and Research (Bundesministerium für Bildung und Forschung BMBF) and the Federal Ministry of Health (Bundesministerium für Gesundheit BMG) in the form of research grants totalling € 29 million, Biotest is continuing the development programme of the development product Trimodulin in moderate or severe COVID-19 disease. The first phase III study in patients with moderate or severe COVID-19 disease was submitted in May 2022. The submission of the phase III study with Trimodulin in patients with severe community-acquired pneumonia took place in October 2022.
As of the publication date, 14 November 2022, Biotest AG had opened seven new plasma collection centres to improve the supply of our sustainable raw material plasma.
In March 2022, excluding the possible impact of the Russian attack on Ukraine and taking into account accelerated R&D activities, the Executive Board had expected an EBIT of €- 20 to - 25 million. The risks still seen on March 24, 2022 in connection with Corona and the war in Ukraine have not materialized to the extent expected and are no longer expected for the remaining weeks of the year, so that an decrease in the EBIT to €- 40 million to €-60 million can be ruled out.
The nine-month report 2022 is available on the company's website:
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 2,100 employees worldwide. The ordinary and preference shares of Biotest AG are listed in the Prime Standard on the German stock exchange.
Dr Monika Buttkereit
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
14.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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