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.

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PRESS RELEASE

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

* EBIT forecast achieved with EBIT of EUR 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 EUR 684.6 million compared with EUR 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 EUR 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 EUR 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 EUR 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 EUR 143.5 million
improved considerably compared with EUR -16.6 million in the previous year.
Biotest has thereby clearly exceeded its original EBIT guidance for the 2023
financial year of between EUR -20 million and EUR -15 million, and achieved its
most recent EBIT guidance of between EUR 130 million and EUR 170 million. This
growth mainly reflects the earnings effect from technology disclosure and
development services for Grifols, S.A., amounting to EUR 158.2 million, as
well as the gain on the divestiture of five Biotest sales companies to
Grifols, S.A., amounting to EUR 23.1 million.

For the Biotest Group, overall earnings before taxes (EBT) of EUR 106.3
million arose, compared to EUR -30.8 million in the previous year.

The Biotest Group's earnings (EAT) for the 2023 financial year amounted to
EUR 127.0 million compared to EUR -31.7 million the previous year. This results
in earnings per ordinary share of EUR 3.20 compared with EUR -0.81 in the
previous year.

The past 2023 financial year paved the way for intensifying the partnership
with the majority shareholder Grifols, S.A. The aim is to work more closely
together in the areas of research and development, production, as well as
sales and distribution while maintaining both companies' respective
independence, and thereby to be able to offer their complementary product
portfolios in significantly more countries, exchange knowledge, and provide
patients with enhanced access to life-saving plasma medicines. The most
important contracts were the technology disclosure and development services
with Grifols, S.A.

Since November 2022, the intravenous immunoglobulin Yimmugo® has been the
first commercial preparation to be produced by way of an innovative
manufacturing process in the new Biotest Next Level production facility at
the Dreieich site in Germany. In September 2023, Biotest reached an
important milestone in the marketing authorisation process for Yimmugo® in
the USA. The US Food and Drug Administration (FDA) informed Biotest that it
accepts the Biologics License Application (BLA) for Yimmugo® for review. The
marketing authorisation application covers the primary immunodeficiency
(PID) indication.

In December 2023, the FDA conducted the Pre-License Inspection (PLI) of the
Biotest Next Level facility. Among other areas, the quality systems, the new
facility for the production of Yimmugo® in the Biotest Next Level building
and the general conformity of the production processes with the submitted
dossier were inspected and reviewed. A document with the findings from this
inspection was compiled as part of the authorisation process. Further steps
towards a Biologics License Application (BLA) will be carried out in the
course of 2024.

Biotest is developing Fibrinogen for use in both congenital and acquired
fibrinogen deficiency. In mid-February 2024 Biotest announced, that the
Fibrinogen "AdFIrst study" has reached its primary endpoint.

Outlook:

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.

Accordingly, the Board of Management expects an operating result (EBIT) in a
range between EUR 80 million and EUR 100 million for 2024.

The 2023 Annual Report and the 2023 Sustainability Report are available on
the company's website. The presentation for the hybrid conference for
analysts and journalists is also available for download.

About Biotest

Biotest is a supplier of biological medicinal products derived from human
plasma. 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).

IR contact

Dr Monika Baumann (Buttkereit)
Phone: +49-6103-801-4406
Mail: ir@biotest.com

PR contact

Dirk Neumüller
Phone: +49-6103-801-269
Mail: pr@biotest.com

Biotest AG, Landsteinerstr. 5, 63303 Dreieich, Germany, www.biotest.com

Ordinary shares: securities' ID No. 522720; ISIN DE0005227201
Preference shares: securities' ID No. 522723; ISIN DE0005227235
Listing: Frankfurt (Prime Standard)
Open Market: Berlin, Düsseldorf, Hamburg/ Hanover, Munich, Stuttgart,
Tradegate

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.


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28.03.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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   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:    1870045

End of News EQS News Service
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1870045 28.03.2024 CET/CEST