Biotest AG — Earnings Release 2002

Apr 25, 2003

News Details

Ad-hoc | 25 April 2003 15:44

Biotest AG english

Biotest: Positive operating profit before special items from core activities Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Notice according to § 15 WPHG (German Security Trading Act) Biotest: Positive operating profit (before exceptional items) from continued operations Dreieich, 25th April 2003. The pharmaceutical and diagnostic company Biotest AG, reports an operating profit from continued operations before exceptional items of Euro 8.8 million. The Group’s negative result however amounted to Euro 20 million as a result of a fall in operating income from continued operations, together with exceptional items associated with the Group’s adoption of a new strategic direction and losses arising from discontinued operations. Impairments and restructuring costs also contributed to the outcome. The changes now in progress will do much to ease the Group’s financial position and will have a positive impact on the future performance of Biotest. Performance per ordinary share amounts to Euro -2.56; per preference share Euro -2.45. As previously reported, positive developments were recorded in important markets during the 2002 business year. Sales growth of 3.4 % to Euro 257.9 million resulted from the continuation of favourable domestic demand across all business divisions, with pharmaceuticals especially prominent (growth of 8.7%). Diagnostic products made a major contribution to the Group’s sales growth as did, to some extent, products in the business division to be discontinued. Capacity limitations hindered further growth abroad. Looking ahead, from mid- 2004 onwards, the Pharmaceutical division’s strategic investments will generate additional sales and lead to enhanced results: Pharmaceutical Euro 166.7 million (+0.4%), Diagnostic Euro 75.8 million (+7.0%), Holding Euro 1.9 million (-30.0 %), Discontinued operations Euro 13.5 million (+31.1%). The Management Board and the Supervisory Board propose that no dividend be paid out for the business year 2002. Sales were modest in the early months of the current business year. During the first quarter of 2003, the Biotest Group achieved sales approaching Euro 64 million. Continued operations contributed Euro 60 million, so achieving a minor positive result. Looking at the prospects for 2003 as a whole, the Group expects a moderate sales growth in continued operations of Pharmaceutical and Diagnostic divisions. For 2003 as a whole, we anticipate a break-even result. Biotest AG – Management Board end of ad-hoc-announcement (c)DGAP 25.04.2003 ——————————————————————————– WKN: 522720; ISIN: DE0005227201; Index: Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg und Stuttgart 251544 Apr 03