Biotest AG — Earnings Release 2003

Apr 2, 2004

News Details

Corporate | 2 April 2004 14:59

Biotest generates operating profit in 2003

Corporate-news announcement sent by DGAP. The sender is solely responsible for the contents of this announcement. ——————————————————————————– Biotest generates operating profit in 2003 Dreieich, 2nd April 2004. The financial year 2003 of Biotest AG was charakterized by a heavy competitive pressure and significant price pressure on products. Nevertheless Biotest turned their business round in 2003 and generated an operating profit (EBIT) of EUR 7.7 million (previous year: loss EUR 1.2 million) through their two divisions – Pharmaceutical and Diagnostic. The company, which specialises in the development, production and marketing of therapeutic and diagnostic systems with focuses on clinical immunology, haematology and intensive care medicine, improved the result before tax in spite of an 8 % fall in sales from EUR 242 million to EUR 222 million. The EBIT rose by just under EUR 9 million when compared with the previous year. The financial result fell only slightly by 9 % from EUR -10 million to EUR -9.1 million because of the upfront costs for the investment program for large-scale projects in pharmaceutical production continued into 2003. As a result the loss before tax also improved by around EUR 10 million from EUR -11.2 million to EUR -1.4 million in 2003. The good business development of our subsidiaries led to a tax burden of EUR 3.8 million and therefore to an annual Group loss of EUR 5.2 million before payments to minority stakeholders. The present figures of revenues in the first quarter 2004 are exceeding slightly our budget, indicating further improved results. In total we expect a moderate growth in sales in 2004. As a result of lower financing cost, more efficient processes and fewer consultancy services we except to generate a profit before taxes again. Biotest will publish and comment on the full figures on their website on 30th April 2004 and at the accounting press conference on 13th May 2004. Biotest AG The Board of Management Biotest AG, Landsteinerstr. 5, D-63303 Dreieich, Germany For inquiries, please contact: Head of IR/Marketing Services Manager Hubert Bötsch Tel. +49 6103 801-444 Fax +49 6103 801-880 Email: hubert_boetsch@biotest.de end of message, (c)DGAP 02.04.2004 ——————————————————————————– WKN: 522720; ISIN: DE0005227201; Index: Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg und Stuttgart 021459 Apr 04