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Biotest AG. (3/22/12). "Press Release: Biotest Reached an All-time High Profit after Tax". Dreieich.

Organisations Organisation Biotest AG
  Group Creat (Group)
  Organisation 2 Abbott (Group)
Products Product indatuximab ravtansine (BT-062)
  Product 2 tregalizumab (BT-061)
  Index term 2 Biotest–Merck (DE): investment, 201103 acquisition of Biotest microbiology business incl heipha Dr Müller GmbH + Hycon by Merck
     


- Profit after tax of the Biotest Group (Continuing Operations and Discontinued Operation) at EUR48.1 million represents an increase of 21.8% vs. the previous year

- Profit after tax contribution of EUR26.4 million from sale of Microbiological Monitoring

- Revenue increase by 2.3%


In 2011 the Biotest Group has reached an all-time high profit after tax at 48.1 million. The profit after tax of the Continuing Operations and Discontinued Operation rose by 21.8% compared to the previous year.

The sale of Biotest's global Microbiology Monitoring businesses to Merck KGaA, completed on 1 August 2011 with after-tax earnings of EUR26.4 million contributed significantly.

In the financial year 2011, Biotest increased sales in its Continuing Operations (Plasma Proteins and Biotherapeutics), by 2.3% to EUR422.0 million compared to the previous year (2010: EUR412.5 million). The Biotherapeutics segment was an important contributor to sales growth, due to revenues generated under the agreement with Abbott for BT-061. Sales in the Plasma Proteins segment remained lower than in the previous year, primarily due to continued pricing challenges, whereas sales volumes increased for many product groups. The negative price effect was noticeable in business with customers located outside the European Union. Production of the Immunoglobulin BivigamTM, developed for the US market, started at Biotest Pharmaceuticals Corporation (BPC) in Boca Raton, USA.

Earnings before interest and tax (EBIT) amounted to EUR41.6 million (2010: EUR42.9 million), and include the EUR17.4 million (2010: EUR0.0 million) generated in the Biotherapeutics segment under the agreement with Abbott for the global development and marketing of BT-061. Earnings decreased in the Plasma Proteins segment due to a price-driven decline in sales combined with a less favourable cost of sales ratio.

The financial result showed a slight improvement compared to the previous year (from - EUR14.7 million to - EUR13.5 million), even though charges relating to the Greek interest-free bonds are also included therein. These have been valued at market value and depreciated accordingly by 72% at the year end.

Earnings before tax for the Biotest Group amounted to EUR28.6 million for the year (2010: EUR28.4 million), an increase by 0.7%.

The Board of Management and the Supervisory Board of Biotest AG will recommend to the Annual Shareholders' Meeting, which will take place on 10 May 2012 a dividend payment in the amount of EUR5.5 million (2010: EUR4.8 million) equal to EUR0.44 (2010: EUR0.38) per ordinary share and EUR0.50 (2010: EUR0.44) per preference share. This represents an increase in dividend payment of 15%.

Development projects for Plasma Proteins and monoclonal antibodies are on track; the collaboration with Abbott for the development of BT-061 (Tregalizumab) is continuing successfully. Furthermore Biotest has announced new data on BT-062 in solid tumors today.

Outlook for 2012:

Biotest expects sales growth of 3 to 5% in 2012. We expect only a slight increase in EBIT for the financial year 2012 compared to the 2011 EBIT of EUR41.6 million. The above sales and earnings expectations assume that the underlying conditions for our business with countries such as Greece, Russia and certain Middle Eastern nations will not deteriorate for financial or political reasons. The sales and earnings forecast is also dependent on the granting of marketing authorisation for BivigamTM in the US market as expected during the first half of 2012.

The annual report 2011 is available on the company's website at http://www.biotest.de/ww/en/pub/investor_relations/publications/annual_reports.cfm
The presentation for today's conference for analysts and journalists is also available for download from the site.


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 segment, 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. In the Biotherapeutic segment, Biotest researches into the clinical development of monoclonal antibodies, including in the indications of rheumatoid arthritis and cancer of plasma cells. Biotest has more than 1.600 employees worldwide. The preference shares of Biotest AG are listed in the SDAX on the Frankfurt stock exchange.

Biotest AG, Landsteinerstr. 5, D-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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