Press Release
30.11.2007
biolitec AG doubles EBIT to €1.7M - sales in first quarter of 2007/2008 increase by 26% to €9.3M - cash increase in share capital successfully concluded
Another significant increase in sales - big profits in the business fields of lasers, disposables and aesthetics - the laser business grew by 60% - with the issuance of new shares, financial capital in the amount of approximately €7.06M gross flowed into biolitec.
Jena, November 30, 2007 - biolitec AG (ISIN DE0005213409) in Jena, which is listed in the Prime Standard of the Frankfurt stock exchange saw a 26% increase in sales in the first quarter of 2007/2008 compared to the previous year to €9.3M (prior year: €7.4M). Gross results were €6.6M (prior year: €5.1M).
Earnings before interest and taxes (EBIT) increased by 109% to €1.7M (prior year: €0.8M) and operating results increased by 65% from €1.1M to €1.8M. Thanks to the strong increase in sales, particularly in BPH therapy (laser treatment of benign prostate enlargement) and aesthetic treatment methods (such as ELVeS™ varicose vein treatment), the surplus grew to €1.3M (prior year: €0.79M). The continued high R&D costs of €1.4M, amounting to 15% of sales, guarantee long-term growth and profitability.
The strongest growth was seen in the classical business areas of laser and fiber optic probes at 60% and 14%, respectively. Due to the strong growth in the US, the fraction of sales to North America to total sales increased to 52% (previous year: 42%).
The reason for this growth is the strong demand for lasers in BPH treatment in the US, the much improved billing options in Germany beginning in 2008 for BPH treatments as well as the new ELVeS™PainLess varicose vein treatment and aesthetic therapy. biolitec intends to place 60 BPH laser devices next year in Germany as well.
The capital increase decided upon on November 29, 2007, was successfully concluded by biolitec AG. In a capital market environment which is currently difficult for small and mid caps, biolitec was able to acquire high-quality investors. In raising capital, ICF Kursmakler AG listed 500,750 new biolitec shares as the sole lead manager in an "accelerated book-building" process, and then offered them to institutional investors. With the issuance of the new shares, financial capital in the amount of about €7.06M, gross, flowed to biolitec. After registering the increase in capital in the trade register, the share capital of the company grew to €10,515,750.00—divided into an equal number of shares.
"biolitec intends to apply the proceeds from the capital increase to expand its sales organization and to finance future research and development projects,“ explained Dr. Wolfgang Neuberger, CEO of biolitec. "The increase in the free float is also an important signal for our shareholders, since this allows the shares of biolitec to be listed in such indices as the GEX, which is the mid-cap index of the German stock exchange.“ biolitec AG expects positive business performance for the rest of the year.
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 .
