Biotest AG — Earnings Release 2002

Mar 11, 2003

News Details

Ad-hoc | 11 March 2003 08:39

Biotest AG english

Biotest AG’s year-end result for 2002 depressed by Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Notification in accordance with § 15 [German] Securities Trading Act (WPHG) Biotest AG’s year-end result for 2002 depressed by restructuring expenditure despite sales increase Dreieich, March 2003. The Biotest Group has achieved sales of almost Euro 258 million – an increase of 3.6 per cent – in the business year ended 2002, according to provisional figures. Growth was lower than expected due to delays in some large orders. Reduced sales and the previously reported pressure on price abroad together with a restructuring programme launched at the end of the financial year 2002, impacted negatively on the year’s profit. As part of the restructuring process, Biotest already announced at the end of last year its departure from the medical devices business division and the loss of around 100 jobs at its Dreieich site. Restructuring costs, associated closure costs and redundancy expenditure as well as exceptional items for the year 2002 will result in a heavy loss for the group. Biotest will announce its final year-end result for 2002 on 25 April 2003. Positive developments were reported in our key markets. We achieved strong sales growth following sustained favourable domestic demand across all business divisions. In particular, the harmaceuticals division which saw a nine per cent increase. Restricted capacities prevented further growth abroad. From the middle of the second half of 2004, the strategic capital expenditure programme of the pharmaceutical division will make substantial additional sales and improved yields possible. Products in the business divisions of diagnostic and medical device made a major contribution to the Group’s sales growth: Business Division 2002 Pharmaceutical 167 Mio. Euro (+0.6%); Diagnostic 70 Mio. Euro (+6.1%); Medical Device 19 Mio. Euro (+26.7%); Holding 2 Mio. Euro; Group 25 Mio. Euro(+3.6 %) Biotest AG Management Board end of ad-hoc-announcement (c)DGAP 11.03.2003 ——————————————————————————– WKN: 522720; ISIN: DE0005227201; Index: Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg und Stuttgart 110839 Mär 03