Biotest AG — Earnings Release 2005

May 10, 2005

News Details

Corporate | 10 May 2005 10:29

Biotest AG: Q1 2005 continues positive trend

Corporate-news transmitted by DGAP. The issuer is solely responsible for the content of this announcement. —————————————————————————— Biotest : Q1 2005 continues positive trend Dreieich, May 10,2005. The Biotest Group – which specializes in therapeutic products and diagnostic systems – has continued its successful development from last financial year into the first quarter of 2005. EBIT was slightly up on the previous year at EUR 5.3 million (EUR 5.2 million) despite group revenues being down slightly (3.8 %) at EUR 55.8 million. Consolidated net income increased to EUR 1.4 million after EUR 0.2 million in the first quarter of 2004. The EUR 2.3 million revenue downturn again stemmed from the Pharmaceutical segment, where revenues were down 5.3 % to EUR 36.7 million compared to EUR 38.8 million in the previous year. Due to less tender business, revenues in the Middle East fell by EUR 2.9 million as expected; the high margin business in the remainder of Europe was 8.6 % down on the previous year. This overcompensates for the excellent + 9.9 % immunoglobulin growth in Germany. In contrast, it was possible to keep revenues in the Diagnostic segment constant at EUR 19.1 million compared to EUR 19.3 million in Q1 2004. Downturns in the US and Asia were only partially compensated by growth in Europe. Revenues in Germany were at the same level as the previous year at EUR 6.7 million. Hycon was able to maintain its revenues at the same level as the previous year due to the excellent growth of Heipha products. Transplant and infection diagnostics recorded lower revenues, whereas transfusion diagnostic products grew well. It was possible to increase EBIT by EUR 0.1 million to EUR 5.3 million although several extraordinary factors influenced the cost of sales. For example we were able to sell a large stock of Factor VIII at an extraordinarily low price in a one-off event. Biotest produced this stock beginning of last year for a Brazilian tender deal which it was then not awarded after intervention by the competition. Although unanticipated additional expenses of approx. EUR 1.1 million from an above average amount of defective lots depressed the costs of sales, sales and marketing costs fell still further due to a downturn in commissions. Development of monoclonal antibodies was on schedule. The corresponding expenses needed in this regard totaled EUR 0.7 million. In financial year 2005, Biotest is forecasting a disproportionate increase in EBIT compared to revenues. As a result, profit after tax will also increase. Biotest in Brief Biotest AG, Dreieich is a pharmaceuticals and diagnostics company with around 1,000 employees worldwide. Biotest has specialized in developing, producing and marketing therapeutic products and diagnostic systems, focusing on clinical immunology, auto-immune disease, hematology and intensive care medicine. The range of products covers human plasma products such as immunoglobulin products and blood coagulation factors, test systems for transplant and transfusion diagnostics and tests for hygiene control. In addition to further innovative plasma products, the therapeutic pipeline also includes development of various monoclonal antibody products. Biotest AG’s shares are admitted to Prime Standard trading on the Frankfurt Stock Exchange. 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, 63303 Dreieich, Germany WKN (German Securities Code), ISIN ordinary shares: 522720, DE0005227201 WKN (German Securities Code), ISIN preferred shares: 522723, DE0005227235 Listed: Prime Standard/ Amtlicher Handel (Official Trading) Frankfurt, Berlin, Düsseldorf, Hamburg, Stuttgart End of announcement (c)DGAP 10.05.2005 —————————————————————————— WKN: 522720; ISIN: DE0005227201; Index: Listed: Amtlicher Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin- Bremen, Düsseldorf, Hamburg und Stuttgart 101029 Mai 05