B.R.A.I.N. Biotechnology Research And Information Network AG: BRAIN shows stable business performance in the first nine months 2015/16
31 August 2016 08:00
DGAP-News: B.R.A.I.N. Biotechnology Research And Information Network AG /
Key word(s): Quarter Results/Quarterly / Interim Statement
2016-08-31 / 08:00
The issuer is solely responsible for the content of this announcement.
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BRAIN shows stable business performance in the first nine months 2015/16
- Total operating performance at EUR 19.0 million
- BioScience segment slightly increased
- BioIndustrial revenues still below prior-year level due to oil price
related decline in demand for bioethanol enzymes
- Results affected by one-off costs (IPO)
Zwingenberg, August 31, 2016: B.R.A.I.N. Biotechnology Research and
Information Network AG ("BRAIN AG"; ISIN DE0005203947 / WKN 520394) today
published its financial results for the first nine months of fiscal year
2015/16. Accordingly, during the reporting period from October 1, 2015 to
June 30, 2016, BRAIN Group generated a total operating performance of EUR
19.0 million compared to EUR 19.8 million in the previous year. At the same
time, revenues increased from EUR 16.1 million to EUR 16.5 million. While
the collaboration business with globally active industrial partners in the
"BioScience" segment continued to expand, the product related business of
the "BioIndustrial" segment was affected by the reduced demand for enzymes
used in the worldwide pressured bioethanol production.
In the "BioScience" segment, the collaboration business with globally
active partners especially from the specialty chemicals as well as the food
and nutrition industries could be further expanded. Supported by several
achieved development milestones, the total operating performance in the
first nine months of 2015/16 increased by 5 percent year-over-year from EUR
8.7 million to EUR 9.1 million, representing a 48 percent operating
performance share for this segment.
The total operating performance of the "BioIndustrial" segment decreased to
EUR 10.0 million in the first nine months of 2015/16, from EUR 11.2 million
in the previous year. This development is mainly due to the reduced demand
for bioethanol related enzymes that started in the first quarter 2015/16.
Some customers have meanwhile ramped up their production again, although
the previous production level has not yet been reached. Concurrently, BRAIN
is pressing ahead with its strategy of giving a stronger emphasis to the
higher-margin special enzymes business, such as enzymes to process wine and
fruit juice beverages. In the cosmetics area, the launch of the new anti-
ageing care treatment Monteil ProBeActive made a successful start in Q3
2015/16.
As a result, the share of the industrial product business, combined in the
"BioIndustrial" segment, in BRAIN Group's total operating performance
decreased from 57 percent to 52 percent.
"In total, beyond the bioethanol activities, we are satisfied with our
business development in the first nine months of 2015/16. This is also
supported by the increase of our revenues. We expect further strengthening
of our business from the new strategic industrial partnership "DOLCE",
which aims at developing a new generation of biological sugar substitutes
from natural sources. New government initiatives such as sugar taxes in
Mexico and the UK are evidence of the strong demand for such natural
alternative sweeteners from consumer goods producers", comments Dr Jürgen
Eck, CEO of BRAIN AG.
The Group operating result (EBIT) declined year-on-year from
EUR -3.9 million to EUR -7.7 million. Adjusted for one-off IPO-costs of EUR
1.1 million and personnel expenses resulting from a share-based employee
compensation scheme of EUR 1.3 million, the adjusted Group EBIT amounted to
EUR -5.2 million in the first nine months of fiscal year 2015/16. Thereof,
EUR -0.3 million relate to the "BioIndustrial" segment and EUR -4.9 million
to the "BioScience" segment.
Key financials (first nine months of fiscal year 2015/16)
(in EUR million)1 9M 9M
2015/16 2014/15
Total operating performance2 18.993 19.755
BioScience 9.126 8.653
BioIndustrial 9.964 11.211
Adjustments (consolidation effects) -0.097 -0.109
EBIT -7.682 -3.861
Adjusted EBIT3 -5.244 -3.709
Group result -8.656 -4.686
Result per share in EUR -0.58 -0.36
Cash flows from operating activities -6.944 -3.266
Cash flows from investing activities -2.772 -0.427
Cash flows from financing activities 25.304 2.678
1) The financial figures of the first nine months of fiscal 2015/16 are
comparable only to a limited extent to the values of the previous year, as
for the first nine months of FY 2014/15 they include the financial figures
of the WeissBioTech organisations only since November 2014 due to the
acquisition
2) Revenues + change in inventories + other income including R&D grants,
only comparable to a limited extent
3) Adjusted for one-off costs of the IPO and expenses resulting from
share-based employee participation plans
More detailed information on the nine months and third quarter financial
results are available at www.brain-biotech.de/en/investor-relations/
financial-publications as part of the quarterly statement for the period
ending June 30, 2016.
+++ENDS+++
About BRAIN
BRAIN is one of Europe's leading technology companies in the field of
industrial biotechnology, the core discipline of Bioeconomy. As such, BRAIN
identifies previously untapped, efficient enzymes, microbial producer
organisms or natural substances from complex biological systems that can be
put to industrial use. The innovative solutions and products developed by
help of this "Toolbox of Nature" are successfully applied in the chemistry,
the cosmetics and the food industries. Today, BRAIN's business model is
based on two pillars - "BioScience" and "BioIndustrial". The first pillar,
"BioScience", comprises its - frequently exclusive - collaboration business
with industrial partners. The second pillar "BioIndustrial" comprises the
development and commercialisation of BRAIN's own products and active
product components. Further information is available at www.brain-
biotech.de/en
Contact:
B.R.A.I.N
Biotechnology Research And Information Network AG
Dr. Martin Langer
Executive Vice President
Corporate Development
Darmstädter Str. 34-36
64673 Zwingenberg, Germany
Tel.: +49-6251-9331-0
Fax: +49-6251-9331-11
E-Mail: ir@brain-biotech.de
www.brain-biotech.de
Disclaimer
This press release contains forward-looking statements. These statements
reflect the current views, expectations, and assumptions of the management
of BRAIN AG and are based on information currently available to the
management. Forward-looking statements are not guarantees of future
performance and involve known and unknown risks and uncertainties that
could cause actual results, performance or events to differ materially from
those expressed or implied in such statements. There are numerous factors
which could influence the future performance by and future developments at
BRAIN AG and the BRAIN group of companies. Such factors include, but are
not limited to, changes in the general economic and competitive
environment, risks associated with capital markets, currency exchange rate
fluctuations, changes in international and national laws and regulations,
in particular with respect to tax laws and regulations, and other factors.
BRAIN AG does not undertake any obligation to update or revise any forward-
looking statements.
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Language: English
Company: B.R.A.I.N. Biotechnology Research And Information Network
AG
Darmstädter Straße 34-36
64673 Zwingenberg
Germany
Phone: +49 (0) 62 51 / 9331-0
Fax: +49 (0) 62 51 / 9331-11
E-mail: ir@brain-biotech.de
Internet: www.brain-biotech.de
ISIN: DE0005203947
WKN: 520394
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Munich,
Stuttgart, Tradegate Exchange
End of News DGAP News Service