DGAP-News: B.R.A.I.N. Biotechnology Research And Information Network AG /
Key word(s): Half Year Results/Interim Report
B.R.A.I.N. Biotechnology Research And Information Network AG: BRAIN
continues to demonstrate a solid business performance in the first half year
2015/16
31.05.2016 / 08:00
The issuer is solely responsible for the content of this announcement.
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BRAIN continues to demonstrate a solid business performance in the first
half year 2015/16
- Slight increase of total operating performance to Euro 13.0m
- Double-digit growth rates in BioScience segment
- Oil price related decline in demand for enzymes used in bioethanol
production
- Results affected by one-off costs (IPO)
Zwingenberg, May 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 half of fiscal year 2015/16.
Accordingly, during the reporting period from October 1, 2015 to March 31,
2016, the business developed positively with only one exception. The BRAIN
Group's total operating performance increased from Euro 12.8m to Euro 13.0m
in a year-over-year comparison. While the "BioIndustrial" segment
experienced a decline in demand for enzymes used in the bioethanol
production, the "BioScience" segment, recorded double-digit growth rates.
The total operating performance of the "BioIndustrial" segment decreased by
7 percent to Euro 6.6m in the first half year of 2015/16, from Euro 7.1m in
the previous year period. This development is mainly due to the decrease in
the enzyme business of the WeissBioTech subsidiary, where the growth in the
field of "Specialty Enzymes" was overcompensated by the oil price related
weak demand for "Bulk Enzymes" e.g. used in the bioethanol production.
In the transport sector bioethanol serves as a substitute for gasoline
produced from mineral oil. Due to the significant fall in oil prices,
especially in the second quarter of the fiscal year 2015/16, oil was even
cheaper than bioethanol for some time. Accordingly, demand for bioethanol
as well as for enzymes used in its production was low in that period of
time. Against this background, the strategic focus of WeissBioTech on the
more profitable and fast growing field of "Specialty Enzymes" will be
further promoted and expanded. As a result, the share of total Group
operating performance of the industrial product business, combined in the
"BioIndustrial" segment, decreased from 55 percent to 51 percent. The
remaining 49 percent were contributed by the "BioScience" segment,
representing the collaboration business of BRAIN, where the total operating
performance in the first half year of 2015/16 increased by 11 percent year-
over-year from Euro 5.7m to Euro 6.4m.
The Group operating result (EBIT) declined from Euro -2.1m to Euro -5.3m
over the previous year. Adjusted for one-off IPO-costs of Euro 0.8m and
personnel expenses resulting from a share-based employee compensation
scheme of Euro 0.9m, the adjusted Group EBIT amounted to Euro -3.3m in the
first six months of fiscal year 2015/16. Thereof, Euro -0.2m relate to the
"BioIndustrial" segment and Euro -3.1m to the "BioScience" segment.
"The industrialisation strategy and the expansion of our own product
pipeline are progressing as planned. An increasing focus on Specialty
Enzymes, e.g. for use in food and fruit juice production, will contribute
to a continuous reduction of oil price sensitivity, which has unfortunately
overshadowed the otherwise very positive development in the first half-
year. Besides that, we can still rely on our collaboration business with
industrial partners as a solid second pillar, as evidenced once again in
the first half-year of 2015/16. We will continue to pursue our course of
profitable growth and, from today's perspective, we expect to reach EBIT
break-even as planned in the course of the fiscal year 2017/18", comments
Dr Jürgen Eck, CEO of BRAIN AG.
Key financials (first six months of fiscal year 2015/16)
<pre>
(in Euro million)1 6M 6M
2015/16 2014/15
Total operating performance2 12.952 12.791
BioScience 6.386 5.737
BioIndustrial 6.631 7.123
Adjustments (consolidation effects) -0.066 -0.070
EBIT -5.271 -2.099
Adjusted EBIT3 -3.253 -2.087
Group result -6.125 -2.748
Equity 31.826 5.755
Equity in percent of total assets 67.8% 17.99%
Result per share in Euro -0.44 -0.21
Cash flows from operating -4.568 -2.713
activities
Cash flows from financing 25.238 1.633
activities
</pre>
1) The financial figures of the first half of fiscal 2015/16 are
comparable only to a limited extent to the values of the previous year, as
for the first half 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 half-yearly financial results are
available at www.brain-biotech.de/en/investor-relations/financial-
publications as part of the half-year financial report for the period
ending March 31, 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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31.05.2016 Dissemination of a Corporate News, transmitted by DGAP - a
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The issuer is solely responsible for the content of this announcement.
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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
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467365 31.05.2016
DGAP-News: B.R.A.I.N. Biotechnology Research And Information Network AG: BRAIN continues to demonstrate a solid business performance in the first half year 2015/16
| Source: EQS Group AG