Biotest AG — Earnings Release 2002

Nov 1, 2002

News Details

Ad-hoc | 1 November 2002 15:01

Biotest AG english

Biotest expects results to break even Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Biotest expects results to break even Dreieich, November 1, 2002. The Hessian pharmaceutical and diagnostics company Biotest AG, listed in the SMAX qualitiy segment at Deutsche Börse, has adjusted its profit forecasts. While at the Annual General Meeting on 11 July the company had anticipated to record positive income figures albeit below the previous years level of euro 4.4 million (calculated in accordance with IAS) it now becomes apparent that the company will break even in the current financial year. In the third quarter sales and according to preliminary calculations profit did not develop as expected in July. Even though Biotest was able to increase sales by 5 % in the first nine months, the negative trends already mentioned in Spring deteriorated. The profit downgrade is primarily due to the constant price decline abroad, to changes in the sales structure in favour of lower- margin products, consistently high losses at the Biotest Medizintechnik GmbH subsidiary as well as other exceptionnel costs. On its analysts and press conference on 13 November 2002, Biotest will present its final figures for the third quarter and the period from January to September. On this occasion, the company will present measures it intends to implement in its Biotest return plus programme launched to achieve distinct short to medium term improvements in the profit situation. Biotest AG The Management end of ad-hoc-announcement (c)DGAP 01.11.2002 ——————————————————————————– WKN: 522720; ISIN: DE0005227201; Index: SDax Listed: Amtlicher Markt in Frankfurt (SMAX), Freiverkehr in Berlin, Düsseldorf, Stuttgart und Hamburg 011501 Nov 02