According to the preliminary IFRS financial statements for the 2020 financial year, HAEMATO AG increased its revenue by 20.5 % to EUR 238.3 million and increased EBITDA by 74.8 % to EUR 3.3 million

DGAP-News: HAEMATO AG / Key word(s): Preliminary Results
21.04.2021 / 10:40
The issuer is solely responsible for the content of this announcement.

Corporate News of HAEMATO AG:

According to the preliminary IFRS financial statements for the 2020 financial year, HAEMATO AG increased its revenue by 20.5 % to EUR 238.3 million and increased EBITDA by 74.8 % to EUR 3.3 million.

In the 2020 financial year, HAEMATO AG, Schoenefeld (ISIN: DE000289VV1), achieved IFRS consolidated revenues of EUR 238.3 million (previous year: EUR 197.8 million), a result from ordinary activities (EBITDA) of EUR 3.3 million (previous year: EUR 1.9 million), an operating result (EBIT) of EUR 1.6 million (previous year: EUR -19 thousand) and net income after special effects related to the reporting date of EUR -4.8 million (previous year: EUR -1.2 million). The gross margin increased from 6.87% (previous year) to 7.42% in 2020.

The special effects of EUR -5.4 million (previous year: EUR -0.7 million) included in the net profit for the year relate to a non-cash, reporting-date-related valuation of financial assets (company participations) at fair value (stock market prices) as of 31 December 2020. The company assumes that there is considerable catch-up potential in this respect in the coming years.

The operating cash flow improved significantly in the past financial year due to optimised working capital management and amounted to EUR 14.7 million (previous year: EUR -2.8 million). Net cash flow increased from EUR -3.4 million (previous year) to EUR 9.3 million in 2020.

The equity ratio increased from 56.2% (previous year) to 74.2%. Liabilities decreased by 22.7 % to EUR 43.6 million (previous year: EUR 56.3 million). Liabilities to banks fell in 2020 by EUR 7.1 million (corresponds to 28.1%) from EUR 25.2 million to EUR 18.1 million as of the balance sheet date 31 December 2020.

As one of the leading suppliers of special pharmaceuticals, the HAEMATO Group benefits from competition in the primary health care market. The specialisation in drugs for the treatment of chronic diseases and for individual therapies leads us to expect a positive development in the future due to the demographic development. We expect the positive sales development of the past financial year to continue in the 2021 financial year and anticipate sales growth to EUR 260 to 290 million and an improvement in EBIT in the current financial year to EUR 7 to 9 million. The expected significant increase in EBIT in 2021 is the result of implementing the new strategy of focusing on high-margin business areas.

The essential component is trading and the development of own brands in the area of "aesthetic medicine". With the acquisition of M1 Aesthetics GmbH on 1 January 2021 in conjunction with the subsidiary HAEMATO MED GmbH, which is certified for the development of medical products, the business area with high-margin sales potential has been significantly strengthened. Products in the business area of "aesthetic medicine" have an above-average added value.

The development in the past year - also with regard to the Covid-19 pandemic - is positive. Due to the high demand for Covid-19 diagnostics, business activities in the area of medical products were expanded.

The successful launch of medical products in the "Diagnostics" segment is not reflected in the above estimates of revenue and EBIT. The subsidiary HAEMATO PHARM GmbH received special approval from the Federal Institute for Drugs and Medical Devices (BfArM) at the end of March 2021 for a Covid-19 rapid antigen test for self-testing by laypersons. The first batches have already been delivered to customers in Germany. From today's perspective, an additional sales volume of at least EUR 25 to 30 million is expected.

The demand for Covid-19 rapid tests depends strongly on the further course of the pandemic. The current Corona strategy of the German government and federal states, which makes the submission of negative Covid tests mandatory for many areas of public life and business, may also lead to a significant increase in the above-mentioned sales and earnings estimates, especially if the pandemic lasts longer and is more intense.

About HAEMATO:

HAEMATO AG, founded in 1993, is a pharmaceutical company. The focus of its business activities is on the trading of high-priced special pharmaceuticals (with a therapeutic focus on cancer, HIV and other chronic diseases) as well as the development and distribution of medical products and own brands, particularly in the field of "aesthetic medicine".

HAEMATO AG is listed on the Basic Board (Open Market) of the Frankfurt Stock Exchange.

Key figures of the HAEMATO AG share:

Subscribed capital: EUR 5,299,307

Listed share class: Ordinary bearer shares

ISIN: DE000A289VV1

WKN: A289VV

Stock exchange symbol: HAEK

21.04.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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