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Biotest AG. (3/25/14). "Press Release: Biotest Increases Profit after Tax by 38.5%". Dreieich.

Organisations Organisation Biotest AG
  Group Creat (Group)
  Organisation 2 AbbVie (Group)
Products Product Bivigam™
  Product 2 tregalizumab (BT-061)
Person Person Buttkereit, Monika (Biotest 201308 Head of Investor Relations)
     


- Earnings before interest and tax (EBIT) of the Biotest Group at EUR53.8 million represents an increase of 20.4 % vs. the previous year

- Revenue increase by 13.8 %


In the 2013 financial year Biotest was again able to increase sales significantly by 13.8 % and exceeded the EUR 500 million mark for the first time. The Group generated sales of EUR 500.8 million compared to EUR 440.0 million in the 2012 financial year. In conjunction with the market launch of Bivigam(R) in the US, strong growth was achieved mainly in the Therapy segment. Sales increased in this segment by 16.7 % from EUR 330.9 million to EUR 386.2 million. Sales in the segment Plasma & Services also increased by 5.7 % to EUR 102.5 million (2012: EUR 97.0 million). Sales remained constant at EUR 12.1 million in Other Segments.

Although Biotest also continued to grow in Germany in 2013 (+4.5 % compared to the previous year), sales momentum accelerated particularly in foreign markets on which increased focus is being placed as part of the internationalisation strategy. In the past year, 81.3 % (2012: 79.7 %) of Biotest revenues were already generated outside its domestic market. The largest increase was achieved in North and South America. With the marketing launch of Bivigam(R) in the USA sales increased there from EUR 58.5 million to EUR 86.0 million - a growth rate of 47.0 %. The growth rates in Asia and other countries of the world were also in the double digit range of 14.4 % and 31.6 %, respectively.

As a result of these positive developments Biotest was able to significantly increase operating profit (EBIT) by 20.4 %. The Group generated an EBIT of EUR 53.8 million in 2013 compared to EUR 44.7 million in the previous year. The EBIT margin increased to 10.7 % (2012: 10.2 %) due to the disproportionate increase in earnings compared to that of sales. The Therapy segment again made the largest contribution to EBIT, generating EUR 32.1 million in 2013, 22.1 % above the level of the previous year (EUR 26.3 million). The earnings of the Plasma & Services segment also increased significantly and amounted to EUR 23.7 million (2012: EUR 18.4 million). The various international cooperation agreements for toll manufacturing had a positive effect in this regard. In contrast, Other Segments recorded a loss of EUR 2.0 million compared to breakeven (EUR 0.0 million) in the 2012 financial year.

The financial result improved again in the past financial year and amounted to EUR -7.0 million compared to EUR -9.2 million in the previous year. This was mainly attributable to a decrease in currency translation expenses.

This business performance resulted in a substantial increase in earnings before taxes for Biotest of 31.0 % to EUR 47.8 million (previous year: EUR 36.5 million). Earnings after taxes increased by even more as the effective tax rate was reduced as a result of less non-evaluated losses and amounted to EUR 32.0 million - a plus of 38.5 % compared to the previous year's amount of EUR 23.1 million.

This resulted in earnings per share of EUR 2.54. In the previous year, this only amounted to EUR 1.94 in Continuing Operations. The substantial increase is to be viewed as particularly positive as the average number of shares outstanding had been increased as a result of the capital increase implemented in the middle of 2013.

The Board of Management and the Supervisory Board of Biotest AG will recommend to the Annual Shareholders' Meeting, which will take place on May 7th, 2014 a dividend payment in the amount of EUR 7.9 million (2012: EUR 6.2 million) equal to EUR 0.57 (2012: EUR 0.50) per ordinary share and EUR 0.63 (2012: EUR 0.56) per preference share. This represents an increase in dividend payment of 28.2 %.

Development projects for Plasma Proteins and monoclonal antibodies are on track; the collaboration with AbbVie (a global, research-based bio-pharmaceutical company formed in 2013, following separation from Abbott) and the development of Tregalizumab (BT-061) is continuing successfully. An international Phase IIb trial with this antibody, which involves study centers in USA, Canada and Europe, runs according to plan. Results of this study, in which more than 300 patients will be included, will be most probably available at the beginning of 2015.

Outlook for 2014:
The Board of Management expects the Group's sales and EBIT in the financial year 2014 to grow in a range of 10 %.

The annual report 2013 is available on the company's website at http://www.biotest.de/ww/en/pub/investor_relations/publications/annual_reports.cfm. Also available for download from the website is the presentation for today's conference for analysts and journalists.


Disclaimer

This document contains forward-looking statements on overall economic development as well as on the business, earnings, financial and assets position of Biotest AG and its subsidiaries. These statements are based on current plans, estimates, forecasts and expectations of the company and are thus subject to risks and elements of uncertainty that could result in significant deviation of actual developments from expected developments. The forward-looking statements are only valid at the time of publication. Biotest does not intend to update the forward-looking statements and assumes no obligation to do so.


About Biotest

Biotest is a provider of pharmaceutical and biotherapeutic drugs. With a value added chain that extends from pre-clinical and clinical development to worldwide sales, Biotest has specialised primarily in the areas of application of clinical immunology, haematology and intensive medicine. In its Plasma Protein portfolio Biotest develops and markets immunoglobulins, coagulation factors and albumins based on human blood plasma. These are used for diseases of the immune and haematopoietic systems. Biotest also researches into the development of monoclonal antibodies, including in the indications of rheumatoid arthritis and cancer of plasma cells. Biotest has more than 2,000 employees worldwide. The preference shares of Biotest AG are listed in the SDAX on the Frankfurt stock exchange.

Biotest AG, Landsteinerstr. 5, 63303 Dreieich, www.biotest.de
Dr. Monika Buttkereit
tel.: +49 (0) 6103 801-4406,
e-mail: investor_relations@biotest.de
fax: +49 (0) 6103 801-347
Securities' ID No., ISIN ordinary shares: 522720, DE0005227201
Securities' ID No., ISIN preference shares: 522723, DE0005227235
Listing: Prime Standard
Open Market: Berlin-Bremen, Düsseldorf, Frankfurt, Hamburg, Hannover, München, Stuttgart

   
Record changed: 2017-04-02

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