Biotest AG — Earnings Release 2005

Nov 14, 2005

News Details

Corporate | 14 November 2005 13:00

Biotest continues excellent business growth in third quarter

Corporate-news transmitted by DGAP. The issuer is solely responsible for the content of this announcement. —————————————————————————— Biotest continues excellent business growth in third quarter: Revenue +9%, EBIT +43% Dreieich, November 14, 2005. The Biotest Group has also continued its successful business growth in the third quarter. The operating result totaled EUR 18.4 million after the first nine months – up 43% on the same period of the previous year (EUR 12.9 million). Consolidated net income increased to EUR 6.5 million. Revenues grew strongly yet again in the third quarter, up 18.4% to EUR 61.8 million (Q3/2004: EUR 52.2 million) and totaled EUR 177.0 million (+8.5%) after the first nine months. The revenue increases continue to stem from the Pharmaceutical segment, which was able to lift its sales by 12.8% to EUR 119.5 million compared to the previous year. Biotest growth to date continued in the third quarter: revenues in Germany grew by EUR 7.8 million during the first nine months, with revenues in the rest of Europe growing by EUR 7.0 million. Growth drivers continued to be coagulation factors and immunoglobulines, with Intratect in particular being able to expand its market share to 15% in Germany. The Diagnostic segment was up slightly on the previous year after the third quarter at EUR 57.5 million (+0.7%). The developments seen to date also continued in this segment. Growth, in particular in Europe, was able to compensate for downturns in Asia and the other regions. Hycon continued to generate growth with its Heipha products, and transfusion diagnostics also contributed to this business growth with the delivery of TANGO systems to our US distribution partner Olympus. However, the positive growth was reduced by falling sales in transplantation and infection diagnostics. The development of monoclonal antibody projects in the Biotherapeutic segment, for which research and development expenses totaling EUR 2.7 million were incurred in the first nine months, is on schedule. EBIT lifted substantially compared to the first nine months of 2005 by 43.2% (up EUR +5.5 million) to EUR 18.4 million. The fact that the third quarter enjoyed particularly excellent growth with EBIT totaling EUR 7.1 million (previous year: EUR 4.0 million) means that Biotest’s earnings are already – after just nine months – at almost the same level as for the whole of 2004. Equity increased as of September 30, 2005 as a result of the first capital increase dated August 3 totaling around EUR 20 million. The transfer of shareholder loans to equity and the additional cash totaling around EUR 10 million reduced financial debt, which was EUR 33.8 million lower at the end of the third quarter (EUR 129.9 million) than on the balance sheet day on December 31, 2004. Net proceeds from the issue totaling around EUR 30 million accrued to the company as a result of the further capital increase via the stock market of 856,525 new ordinary shares and 666,667 new preferred shares with subscription rights. This capital increase was entered in the commercial register on October 18 and was not yet reflected in the financial statements as of September 30. After both capital increases, the equity ratio is significantly greater than 40%. For financial year 2005, Biotest is forecasting revenues to be up slightly on the previous year, as well as an above average increase in operating results. About Biotest Biotest AG in Dreieich is a company that researches and produces pharmaceutical, biotherapeutic and diagnostic products and has specialised in the fields of immunology and haematology. Biotest’s Pharmaceutical Division develops immunoglobulins, clotting factors and albumins based on human blood plasma that are used to treat diseases of the immune system and of the haematopoietic system. In addition, Biotest also conducts research on the clinical development of monoclonal antibodies, including indications of rheumatoid arthritis and blood cancer. The Diagnostics Division specialises in reagents and systems for serology and microbiology, as used for example in the field of blood transfusions. Biotest has approximately 1,100 employees worldwide. The shares of Biotest AG are listed in the Prime Standard. Investor Relations: Hubert Bötsch, Telephone: +49 (0) 6103 801-444, Telefax: +49 (0) 6103 801-880, E-mail: hubert_boetsch@biotest.de Biotest AG, Landsteinerstr. 5, D-63303 Dreieich, http://www.biotest.de End of announcement (c)DGAP 14.11.2005 —————————————————————————— WKN: 522720; ISIN: DE0005227201; Index: Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg und Stuttgart