Ad-hoc News
29.02.2008
biolitec AG revenue increases to Euro 19.1 million in the first six months 07/08 - EBIT growth of 23% to Euro 3.0 million
Jena, February 29, 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 to Euro 13.0 million (last fiscal year: Euro 11.7 million) and EBIT increased to Euro 3.0 million (plus 23 %).
Net income amounted to Euro 2.2 million (previous year: Euro 1.9 million) due to the increase in sales particularly of our BPH and our aesthetic treatment systems (e.g. ELVeS™).
Second quarter revenue increase was modest (from Euro 9.7 million to Euro 9.8 million) due to a substitution effect to direct sales from distributors/marketing partners. We expect that the attractive reimbursement rates for BPH adopted in January 2008 will speed up the adoption 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 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.
