EQS-News

Biotest increased sales by 83.6% to Euro 215.2 million in first quarter 2024

EQS-News: Biotest AG / Key word(s): Quarter Results Biotest increased sales by 83.6% to Euro 215.2 million in first quarter 2024 07.05.2024 / 09:00 CET/CEST The issuer is solely responsible for the content of this announcement.

PRESS RELEASE

 

Biotest increased sales by 83.6% to Euro 215.2 million in first quarter 2024

 

• Product sales increased by 17.7% to Euro 138.0 million
• EBIT increased to Euro 52.8 million
• Successful completion Fibrinogen study

 

Dreieich, 07 May 2024. The Biotest Group recorded revenue of € 215.2 million in the first quarter of the 2024 financial year. This represents an increase of 83.6 % compared to revenue of € 117.2 million in the same period of the previous year.

Product sales increased by 17.7 % to € 138.0 million. Additionally, revenue due to sales from technology disclosure and development services for Grifols, S.A. as part of the technology transfer and licensing agreement amounted to
€ 77.2 million.

The new intravenous immunoglobulin Yimmugo had a positive impact with an increase in sales of € 7.5 million to € 11.1 million, which was successfully launched on the market in November 2022 and is now the first commercial preparation to be manufactured in an innovative production process at the new Biotest Next Level production facility at the Dreieich site in Germany. Intratect also contributed to the increase in sales.

EBIT for the first quarter of 2024 amounted to € 52.8 million, a significant improvement on the first quarter of the previous year (prior year period: € - 9.1 million). This includes expenses of € 22.9 million for the ramp-up of production capacity at the Biotest Next Level facility (prior year period: € 22.2 million). The improvement in EBIT is mainly due to the earnings effect from technology disclosure and development services for Grifols, S.A. amounting to € 70.3 million.