Press Release
29.02.2008
biolitec AG continues strong revenue and profit growth in the first half of the year - EBIT growth of 23 % up to Euro 3.0 million – BPH laser were placed in the market as planned
Again record profits in the first six months of fiscal year 2007/2008 – Innovative laser therapy LIFE ™ for the treatment of enlarged prostate (BPH) and revolutionary vein treatment procedure ELVeS ™ are biggest revenue driver – Group turnover increases by 12 % up to Euro 19.1 million
Jena, February 29th 2008 – biolitec AG, Jena, listed in the Prime Standard of the Frankfurt stock exchange (ISIN DE0005213409) managed to increase consolidated revenues by 12 % to Euro 19.1 million during the first six months ending December 31, 2007 (previous year: Euro 17.1 million). The gross profit amounted Euro 13.0 million (previous year: Euro 11.7 million). The earnings before interest and taxes (EBIT) increased up to Euro 3.0 million (plus 23 %).
Thanks to the sales increases especially in BPH and aesthetic treatment systems of biolitec AG, for example ELVeS™, the net income amounted Euro 2.2 million (previous year: Euro 1.9 million). With new LIFE ™ laser therapy using the EVOLVE ™ urology laser, biolitec AG establishes an uncomplicated and effective procedure for a new and innovative medical care for patients with benign prostate hyperplasia in Germany and the United States. LIFE ™ laser therapy is already available in more than 20 treatment centres in Germany. Inpatient treatment costs are reimbursed by statutory health insurance since 2008. With Endo Laser Vein System - ELVeS™ biolitec also has created a new worldwide standard for the treatment of venous insufficiency.
Second quarter revenue increase was modest (from Euro 9.7 million up to Euro 9.8 million) due to a shifting effect to direct sales from distributors/marketing partners. Dr. Wolfgang Neuberger, CEO of biolitec AG comments: „We expect that the attractive reimbursement rates for BPH treatments using laser adopted in January 2008 will speed up the adoption of the new therapy in Germany in particular. While laser placements proceeded at a good rate in the US, closings were behind expectations. We expect to reach our BPH market share goal of 40 % in the US within 12 to 24 months”.
With Euro 3.2 million (17 % of sales) in the first six months of the business year, R&D expenditures of biolitec remain at a high level, ensuring the groups long term growth and profitability. The strongest increases with 7 % respectively 23 % were achieved in biolitec’s traditional fields’ fibers/probes and lasers. North American revenues increased by 23 % in the first six months, accounting for 51 % of total sales.
For the course of the year biolitec expects an ongoing positive business development. The current growth is mainly driven by the strong demand for the company’s BPH treatment, the new ELVeS™ PainLess vein therapy and aesthetic therapies in general. The photodynamic therapy using the cancer drug Foscan ® shows steadily to be a successful development. An important milestone for Foscan ® was the approval of low-dose Foscan ® vials. In December 2007 the cancer drug has also received approval of the regulatory authority in Argentina. “With this approval we can now work together with our local distributor to start the sales and marketing activities in Argentina", added Dr. Neuberger.
About biolitec
biolitec is the only supplier for photodynamic therapy worldwide that offers all relevant core competencies – photosensitizers, lasers and optical fibers. Besides minimal invasive laser treatments and the oncology business biolitec has successfully developed competencies in the field of aesthetics. biolitec is listed in the Prime Standard under ISIN DE0005213409. For more information: www.biolitec.com .
