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News Archive

Interim report of the Biohit Group 1 January to 30 June 2011

18.08.2011 09:30

SUMMARY

January–June H1/2011:

  • Net sales EUR 20.5 million (EUR 19.3 million 1-6/2010), growth 6.1%
  • Operating profit EUR 0.7 million (EUR 0.0 million)
  • Profit before taxes EUR 0.0 million (EUR 0.4 million)
  • International operations accounted for 96.0 per cent (96.5%) of net sales
  • Earnings per share EUR -0.01 (EUR 0.02)

April–June Q2/2011:

  • Net sales EUR 10.2 million (EUR 9.9 million), growth 2.4%
  • Operating profit EUR 0.1 million (operating loss EUR 0.1 million)
  • Profit before taxes EUR -0.1 million (EUR 0.3 million)
  • International operations accounted for 95.6 per cent (96.5%) of net sales
  • Earnings per share EUR -0.01  (EUR 0.01 )

JUSSI HEINIÖ, PRESIDENT AND CEO:

“Our net sales continued to grow during the second quarter of the year. In the first half of the year, net sales grew by 6.1% and in the second quarter by 2.4%. Fixed costs remained at the previous year's level. Consequently, the operating result also improved in the second quarter, representing 0.9% of net sales or 3.3% cumulatively. However, the loss for the reporting period was EUR 0.1 million, mainly due to exchange rate losses related to the long payment terms of subsidiaries’ account payables.

In the liquid handling business, demand particularly focused on mechanical pipettes, where net sales for the first half grew by 17.0% on the previous year. Other product groups showed somewhat more moderate growth. Geographically, Europe, Russia and China saw fairly strong growth. However, sales decreased elsewhere in Asia. In Japan, the economic situation after the earthquake is still negatively affecting demand. In North America, demand decreased, possibly due to the country's challenging economic situation.

In our diagnostics business, we focused on seeking new distributor partners for our products and on shifting the sales focus from the Finnish to the international markets. In addition to Finland, Acetium has now been launched in Germany, but thus far, growth in total net sales of the product has been modest. With Acetium launched on the French market at the end of the second quarter, new sales have yet to impact on the second quarter figures.

As stated in our strategy, we will continue our cost saving efforts and we aim at investing in profitable growth. However, the possibility of an increase in the current uncertainty in the world economy will hamper efforts to assess the future outlook.”

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