029 Group SE

Earnings Release • May 8, 2001

News Details

Ad-hoc | 8 May 2001 07:36

Ad hoc-Service: Rhein Biotech N.V. english

Ad hoc announcement processed and transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Results 1st Quarter 2001: Rhein Biotech: strong first quarter – Sales increase from 2.6 to 17.4 Mio. Euro – Net income rises from 0.03 to 2.1 Mio. Euro – Tax reduction in Korea – Capacity incease at GreenCross Vaccine Maastricht, 8. May 2001 – The Rhein Biotech Group specialised in vaccines, therapeutics and expression technologies reports a strong rise in sales from 2.6 to 17.4 million Euro in the first quarter of 2001 compared to the first quarter last year. Net income increased from 0.03 to 2.1 million Euro. The net income includes a positive effect of 1.1 million Euro resulting from a tax reduction granted by the Korean authorities for the activities of GreenCross Vaccine for a period of ten years. Of this amount, 0.9 million Euro relates to 2000 and 0.2 million Euro relates to the first quarter 2001. The motor for growth was increased product sales (16.1 against 0.9 million Euro), mainly at subsidiary GreenCross Vaccine. Income from technology transfer (1.2 compared to 1.3 million Euro) and contract development (0.2 compared to 0.2 million Euro) remained stable as planned. Royalties (0.01 million Euro) decreased compared to the first quarter 2000 (0.2 million Euro) as a result of the consolidation of GreenCross Vaccine, a former licensee. Operating costs increased as planned from 2.2 to 8.6 million Euro, due to extension of the organisation and increased spending for marketing. EBIT rose from break-even to 2.2 million Euro. EBITDA increased from 0.3 to 4.0 million Euro. As a result of increasing demand, especially from international health organisations and strong growth in the markets where Rhein Biotech is present, the company has started to increase production capacity for hepatitis B antigen at GreenCross Vaccine. Capacity will be doubled by the end of the fourth quarter 2001 and will be tripled by the end of the second quarter 2002. The new production facilities in Seoul will be of a standard to fulfil European pharmaceutical production requirements. In this respect Rhein Biotech has decided to focus on this development and put activities at the Portuguese joint venture Vida Rhein S.A. on hold. end of ad hoc announcement (c) DGAP 08.05.2001 Issuer’s information/explanation remarks concerning this ad hoc announcement: Focus on development of new products Following the successful integration of GreenCross Vaccine, the focus in the first quarter was on research and development of new vaccines. Projects under development include combination vaccines containing hepatitis B, a 2-dose hepatitis B vaccine, a vaccine against rotavirus and a therapeutic hepatitis B vaccine in collaboration with Yissum Research Development Company, University of Jerusalem. Rhein Biotech plans to enter new markets again with these newly developed vaccines. Further growth expected Rhein Biotech will continue to expand both internally and externally after the phase of integration of GreenCross Vaccine. The Group’s order book is well filled, partially with a visibility of 24 to 36 months. In the mid term Rhein Biotech expects additional growth impulses from the launch of new vaccines and further collaborations. The Three Months Report is available for download at http://www.rheinbiotech.com. For further information please contact: Frank Ubags, CFO Rhein Biotech N.V., Maastricht (NL) T: +31 (0) 43 / 3 56 78 98 F: +31 (0) 43 / 3 56 78 99 e: investor@rheinbiotech.com Stephanie Krone vom Hoff Kommunikation GmbH, Düsseldorf (D) T: +49 (0) 211 / 515 805 – 16 F: +49 (0) 211 / 515 805 – 55 e: s.krone@vomhoff.de ——————————————————————————– WKN: 919544; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, München, Stuttgart, Hannover 080736 Mai 01