on Biotest AG (isin : DE0005227201)
Biotest Reports 35% Increase in Sales for First Half of 2024
Biotest AG reported a significant increase in its sales for the first half of 2024, reaching €372 million, a 35% growth compared to the previous year's €275.3 million. The company's earnings before interest and taxes (EBIT) surged to €78.4 million, driven largely by technology and development services. Product revenue also showed a 4.8% increase.
The company received FDA approval for Yimmugo® in June 2024 and certification for its BNL production facility in Dreieich. Additionally, a distribution agreement with Kedrion is projected to generate over $1 billion in revenues during the seven-year term.
Biotest's earnings before interest, taxes, depreciation, and amortization (EBITDA) hit €100.1 million, and its earnings after taxes rose to €39.1 million. Earnings per ordinary share increased to €0.98 from €0.03 in the first half of 2023. Full figures will be released on August 6, 2024.
R. H.
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