EQS-News

Biotest AG increased sales by 32% in the financial year 2023

EQS-News: Biotest AG / Key word(s): Annual Results Biotest AG increased sales by 32% in the financial year 2023 28.03.2024 / 12:38 CET/CEST The issuer is solely responsible for the content of this announcement. PRESS RELEASE

 

Biotest AG increased sales by 32% in the financial year 2023

 

• EBIT forecast achieved with EBIT of € 143 million
• Yimmugo marketing authorization application submitted to the US FDA
• Phase III study with fibrinogen successful

Dreieich, 28 March 2024. In the financial year 2023, the Biotest Group generated revenue of € 684.6 million compared with € 516.1 million in the previous year. This corresponds to significant revenue growth of 32.7%. This revenue growth is mainly due to revenue generated from technology disclosure and development services for Grifols, S.A., amounting to € 190.1 million as part of the technology transfer and licensing agreement. Excluding revenue generated from technology disclosure and development services for Grifols, S.A., revenue of € 494.5 million was achieved. This corresponds to a decrease of 4.2 % compared to the previous year.

The new intravenous immunoglobulin Yimmugo had a positive impact with revenue amounting to € 27.2 million. Yimmugo was successfully launched in November 2022 and is now the first commercial preparation to be produced in an innovative manufacturing process in the new Biotest Next Level production facility at the Dreieich site in Germany.

The consolidated EBIT result in the 2023 financial year of € 143.5 million improved considerably compared with € -16.6 million in the previous year. Biotest has thereby clearly exceeded its original EBIT guidance for the 2023 financial year of between € -20 million and € -15 million, and achieved its most recent EBIT guidance of between € 130 million and € 170 million. This growth mainly reflects the earnings effect from technology disclosure and development services for Grifols, S.A., amounting to € 158.2 million, as well as the gain on the divestiture of five Biotest sales companies to Grifols, S.A., amounting to € 23.1 million.