Biotest increases sales in the first half of 2024 by 35% to Euro 372 million
EQS-News: Biotest AG
/ Key word(s): Half Year Report
PRESS RELEASE
Biotest increases sales in the first half of 2024 by 35% to €372 million
Dreieich, 06 August 2024. In the first half of the 2024 financial year, the Biotest Group generated revenue of €372.0 million. This corresponds to growth of 35.1% compared to the revenue of €275.3 million generated in the same period of the previous year. Product revenue grew by €13.4 million, or 4.8%, to €273.7 million. In addition, revenue from technology disclosure and development services for Grifols, S.A., as part of the technology transfer and licensing agreement amounted to €98.3 million. The new intravenous immunoglobulin Yimmugo® had a significant positive impact with revenue growing from €16.0 million to €25.6 million. Special products also contributed with €5.9 million to the revenue growth. Compared to the prior-year period, consolidated EBIT grew to €78.4 million in the first six months of the 2024 financial year (prior-year period: €19.8 million). This growth mainly reflected the earnings effect from technology disclosure and development services as part of the technology and license agreement with Grifols, S.A., amounting to €86.0 million (prior-year period: €1.9 million). The Biotest Group's earnings after taxes (EAT) rose to €39.1 million in the first half of 2024 (prior year period: €1.7 million). This results in earnings per ordinary share of €0.98 after €0.03 in the first half of 2023. In mid-June 2024, the intravenous immunoglobulin Yimmugo® was approved by the FDA in the USA for the treatment of patients with primary immunodeficiencies (PID). At the same time as the approval of Yimmugo®, the site in Dreieich, Germany, was certified by the FDA.
For the 2024 financial year, the Board of Management is aiming for upper single-digit percentage revenue growth compared to 2023, including revenue from technology disclosure and development services for Grifols, S.A. This revenue growth is enabled by the ramp-up of the Yimmugo® production facility within Biotest Next Level. It remains the case that the Board of Management does not rule out negative revenue trends due to potential reductions in demand owing to the economic situation and country-specific savings in the healthcare sector. Accordingly, the Board of Management expects an operating result (EBIT) in a range between €80 million and €100 million for 2024. As a consequence, the Board of Management anticipates a slight improvement in return on capital employed (ROCE) in 2024 compared to the 2023 financial year, and a positive cash flow from operating activities significantly above the previous year’s level. The half-year report can be found on the company's website at the following link Quarterly Reports (biotest.com).
About Biotest Biotest is a provider of plasma proteins and biological 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 clinical immunology, haematology and intensive medicine. Biotest develops and markets immunoglobulins, coagulation factors and albumin based on human blood plasma. These are used for diseases of the immune and haematopoietic systems. Biotest has more than 2,400 employees worldwide. The ordinary and preference shares of Biotest AG are listed in the Prime Standard on the German stock exchange. Since May 2022, Biotest is part of the Grifols Group, Barcelona, Spain (www.grifols.com).
Biotest AG will also distribute official press releases via X with immediate effect. You can find us at: https://twitter.com/BiotestAG
IR contact Dr Monika Baumann (Buttkereit) PR contact Dirk Neumüller Biotest AG, Landsteinerstr. 5, 63303 Dreieich, Germany, www.biotest.com
Ordinary shares: securities’ ID No. 522720; ISIN DE0005227201
Disclaimer
06.08.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | Biotest AG |
Landsteinerstraße 5 | |
63303 Dreieich | |
Germany | |
Phone: | 0 61 03 - 8 01-0 |
Fax: | 0 61 03 - 8 01-150 |
E-mail: | ir@biotest.com |
Internet: | www.biotest.de |
ISIN: | DE0005227235, DE0005227201 |
WKN: | 522723, 522720 |
Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1961347 |
End of News | EQS News Service |
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