BioTissue Technologies AG
BioTissue AG english
Sales in Q3 2001 almost double those for Q2 2001
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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As planned, sales in Q3 2001 almost double those for Q2 2001/Sales will not
double again in Q4/BioTissue affirms its earnings forecast for 2001/In 2001,
five products on the market
Freiburg, Nov. 14, 2001 – BioTissue Technologies AG (SIN 618061) again more than
doubled sales on the quarter, with sales in Q3 2001 reaching Euro 482,363. In
other words, in the first nine months BioTissue has booked total sales of Euro
777,536, 373 percent more than in the same period the year before. The share of
product sales has slipped from 85 for the first half to 61 percent after nine
months, with research conducted under contract rising accordingly.
The BioTissue loss before interest and taxes for the first nine months was Euro
3.82 million and thus less than expected.
However, in all probability we will not, as initially announced, again double Q3
sales in the fourth quarter. In other words, we will fall some 24 percent short
of the annual sales figure of Euro 1.7 million originally targeted and probably
score sales of Euro 1.3 million.
That said, we feel confident that the loss for financial 2001 will be in line
with forecasts at Euro 5.98 million.
The reason for the slower sales trend: delays in the start-up phase for our
products already on the market and above all the delayed launch of two new
products. Both BioSeed-B (bone substitute) and BioSeed-C (a cartilage
substitute) will be brought to market as announced in second-half 2001, yet both
products will first become available a few weeks later than expected, meaning
that sales will not be booked in Q4 on the scale initially expected. As stated
on the occasion of our IPO in December 2000, as at year-end 2001 BioTissue will
have five products in the market and thus have laid solid foundations for
further growth.
The delays in the start-up phase of the BioTissue products already on the market
and in the launch of the new products will impact on sales targets for business
2002. The original sales target of Euro 7.9 million for 2002 must be revised
downward by a percentage similar to that for 2001, and the original forecast of
a loss before interest and taxes of Euro 3.7 million will actually be some 15
percent greater. The interim report for the first nine months of 2001 will be
released on Nov. 15, 2001.
BioTissue Technologies AG, +49-761-7676110, martin.braendle@biotissue-tec.com
end of ad-hoc-announcement (c)DGAP 14.11.2001
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
As planned, Q3 2001 sales almost double those for Q2 2001
Sales will not double again in Q4
BioTissue affirms its earnings forecast for 2001
In 2002, we will be superbly positioned in the tissue engineering market – with
a total of five products
Freiburg, Nov. 14, 2001 – BioTissue Technologies AG (SIN 618061), the pioneer in
the manufacture of autologous tissue substitutes, is fully on target with its
sales and earnings figures for Q3 2001. Q3 sales were, as predicted, some 136
percent higher than those in Q2, and reached Euro 482,363. In other words, in
the first nine months of the year BioTissue has booked sales of Euro 777,536,
373 percent more than in the same period the year before. The loss before
interest and taxes was in fact less than forecast and amounted to Euro 3.82
million. The Freiburg-based biotech corporation has thus affirmed its forecast
for the year of a loss of Euro 5.98 million.
Despite the sales increases in the first nine months of 2001, in Q4 BioTissue
Technologies AG will not achieve its target of doubling the Q3 sales figure
again – owing to delays in the start-up phase for our products already on the
market and the delayed launch of two new products. “Both BioSeed-B, our bone
replacement product, and BioSeed-C, our cartilage substitute, will be available
in the second-half of 2001, as we promised they would be on the occasion of our
IPO. In other words, we will have five products at hand and thus be in a great
position in the tissue engineering market,” declares Dr. Wilhelm Brandner, CEO
of BioTissue Technologies AG.
BioTissue Technologies AG specializes in manufacturing living tissue
replacements (tissue engineering) from the patient’s own (autologous) cells. At
present, BioTissue books sales with its BioSeed-S and MelanoSeed skin tissue
substitutes, and BioSeed-M, its oral mucosa replacement. The Company’s
autologous tissue substitutes are not rejected by patients’ bodies, and often
offer them a new potential for therapy; moreover, the products are easy for the
doctors involved to handle. BioTissue Technologies AG’s collaboration with the
Freiburg University Medical Center and the Charite in Berlin ensure technology
transfer offering immense possibilities for new product development work.
“Tissue engineering will help solve severe medical problems relating to damaged
tissue and organ failure. This technology already enables the treatment of
otherwise incurable, chronic, degenerative diseases and acute organ failure,”
emphasizes Dr. Eszter Tanczos, CSO at BioTissue Technologies AG. “We are among
the world leaders in this strong market of the future,” Tanczos continues.
For further details, please contact:
BioTissue Technologies AG
Martin Brändle
Investor Relations Manager
Engesserstr. 4a / 4b
79108 Freiburg im Breisgau
Germany
Tel.: +49-761-7676-110
Fax: +49-761-7676-155
martin.braendle@biotissue-tec.com
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WKN: 618061; Index:
Listed: Neuer Markt in Frankfurt;
Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und
Stuttgart
140814 Nov 01
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