Press Release
02.06.2008
biolitec AG’s total sales climb 6% to €28.05 m – The cautious investment climate curbs expected profits for 2007/2008 – The market positions of LIFE™ laser therapy for prostate enlargement and ELVeS™ PainLess vein treatment are reinforced
biolitec’s consolidated sales reach a new high in the first nine months of the 2007/2008 fiscal year – Significant investment is made in sales and marketing of the LIFE™ out-patient therapy for BPH and the improved ELVeS™ PainLess vein treatment procedure – US urologists are excited about the fast, minimally invasive laser treatment of enlarged prostate patients with the Evolve™ high-power diode laser
Jena, June 2, 2008 – Jena-based biolitec AG, which is listed in the Prime Standard of the Frankfurt stock exchange (ISIN DE0005213409), enjoyed consolidated sales of €28.05 million in the first nine months of the fiscal year ending March 31, 2008. This represents a rise of 6 percent on the previous year’s €26.4 million. The gross profit amounts to €19.4 million (previous year’s €18.3 million), while the earnings before interest and taxes (EBIT) amounts to €3.2 million.
The surplus was €2.3 million (compared with €3.2 million in the previous year), due to significant investment in marketing and sales for the LIFE™ system for out-patient treatment of BPH and the improved ELVeS™ PainLess vein treatment procedure. Despite the rise in sales to €28.05 million in the first nine months of the current fiscal year, the last two quarters still fell short of expectations. Third-quarter sales of €8.9 million were down on €9.4 million the previous year due to the adverse investment climate in the US and the weakness of the dollar. biolitec expects this negative effect to persist in the coming months, causing fiscal year sales and profits to lag behind those recorded last year.
According to Dr. Wolfgang Neuberger, CEO of biolitec AG: “If the exchange rates were stable, sales in the first nine months of the 2007/2008 fiscal year would have grown by €1.4 million to €29.5 million, which represents an increase of 11 percent. We expect the dynamic growth in sales to resume over the course of the coming fiscal year.”
This is certainly indicated by the strengthening of the market positions occupied by biolitec’s laser devices. biolitec’s market position will receive a further boost from the current investment in sales and marketing experts for the BPH market and expansion of the sales team for the aesthetics segment, with a particular focus on selling newly developed methods for laser liposuction in the US market. With the ELVeS™ PainLess system for pain-free vein treatment and the new LIFE™ laser therapy for treating benign prostatic hyperplasia (BPH), biolitec AG has established two innovative and effective procedures in the market, which will ensure growth in the medium term. The cutting-edge BPH treatment system has particular benefits for high-risk patients with increased risk of bleeding or with cardiovascular weaknesses. The treatment is now available at 25 hospitals and private practices in Germany. Since January this year, statutory insurance providers have been reimbursing the costs of in-patient treatment with this system. Due to the keen interest in this new minimally invasive and fast laser treatment of enlarged prostate patients among US urologists, biolitec expects US market penetration of the Evolve™ laser system to surge above its current level of 20 percent.
In the first nine months of the current fiscal year, sales of fiber-optic disposables grew by 3 percent in total. Once again, biolitec AG achieved key sales figures in both Europe and North America. At €13.1 million, North American sales were up 6 percent on the relevant quarter in the previous financial year, which constituted 47 percent of total sales. Meanwhile, European sales amounted to €12.8 million, as against €12.6 million in the previous year.
About biolitec
biolitec is the only supplier for photodynamic therapy worldwide that offers all relevant core competencies – photosensitizers, lasers and optical fibers. Besides minimally 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 about LIFETM laser therapy, visit www.biolitec.com.