Biotest AG Reports 32% Sales Growth for Fiscal Year 2023

Biotest AG announced a 32% increase in sales for the financial year 2023, reaching €684.6 million up from €516.1 million the previous year. This growth was significantly influenced by the company's technology transfer and licensing agreement with Grifols, S.A., contributing €190.1 million. Apart from these figures, Biotest's revenue stood at €494.5 million, marking a 4.2% decline from the previous year.

The launch of Yimmugo®, an intravenous immunoglobulin, generated €27.2 million in revenue. Produced in the Biotest Next Level manufacturing facility in Dreieich, Germany, Yimmugo® represents the first commercial preparation using a new production process. Additionally, Biotest's EBIT saw a remarkable turnaround from a €16.6 million loss last year to €143.5 million this year, vastly surpassing initial forecasts.

Moreover, the company reported an EBT of €106.3 million, a significant improvement from a €30.8 million loss in the previous year, and EAT rose to €127.0 million from a €31.7 million loss, translating to earnings per ordinary share of €3.20, up from -€0.81. Biotest also highlighted advancements in their partnership with Grifols, S.A. and the progress in their Fibrinogen AdFIrst study and Yimmugo® marketing authorisation application to the US FDA.

For 2024, Biotest aims for upper single-digit percentage revenue growth and an operating result between €80 million and €100 million.