Ad-hoc News
03.06.2009
biolitec AG – Turnover of 23,3 Mio. Euro in the first nine month 2008/09 – Operating results in the third quarter almost balanced
Jena, March 29, 2009 – biolitec AG, Jena, listed in the Prime Standard of the Frankfurt Stock Exchange (ISIN DE0005213409) generated a gross profit of 16.2 Mio. Euro in the first three quarters of the fiscal year 2008/09 (previous year: 19.4 Euro Mio.). The total turnover amounted 23.3 Mio. Euro (previous year: 28.0 Mio. Euro). The net income per share amounts - 0.01 Euro in the first nine month of the fiscal year. The EBIT in the first nine month of the year amounts - 0.7 Mio. Euro. The operating result of the third quarter with - 48 TEUR stands just before the breakeven point again.
Inventory levels will be reduced in the coming quarters due to the reduced staff levels in production, freeing up working capital for acquisition opportunities that might arise. Also compared to our record year 2006/07, the nine month turnover 2008/2009 has achieved a respectable level. Due to an exceptional turnover in the previous fiscal year in the USA 2007/08, the current figures in comparison are low.
biolitec’s strategy of diversifying and strengthening its global presence pays off. Cancer treatment with the approved pharmaceutical Foscan® is getting off to a good start with the Bracco deal finalized and renewed expressions of interest from other pharma companies. This will relieve the group from several million of profit transfer and investment requirements into its pharma business from the medical device side. The licensing partners contractually have to contribute substantial amounts to clinical research and development.
biolitec’s reimbursable procedures like the innovative vein treatment ELVeS™ or the BPH (benign prostate hyperplasia) treatment LIFE™ are a sound basis in one of the most solid economic business fields at the moment. And our focus on per procedure revenue generation through disposable sales and pharma sales fits the current environment.
The number of employees has stabilized at the level of 225. In the first nine month of the fiscal year 2008/09, our expenditures in research and development remain on a high level in order to guarantee long-term growth and profitability.
At this year’s EAU (European Association of Urology) Congress in Stockholm for example, biolitec presented EVOLVE® DUAL as the first medical diode laser worldwide with two wavelengths working at the same time.
With the haemorrhoid atrophy procedure HeLP™ (Haemorrhoid Laser Procedure) biolitec has invented a minimally invasive and secure intervention (and applied for a patent). With one-way probes and selective laser energy and fiber optics systems, haemorrhoidal arteries can be identified and with the help of photocoagulation the surrounding tissue is pulled back.
biolitec expects the solid business performance to continue with a slight increase in the course of the year.
