Locate your nearest distributor

Location:
Type:
Text search:
Username:
Password:
Forgot password?

News Archive

Biohit Group Financial Statement Release 2014

26.02.2015 09:30

Biohit Oyj
Financial Statement Release
 
BIOHIT GROUP FINANCIAL STATEMENT RELEASE 2014
Biohit Oyj Financial Statement Release, 26 February 2015 at 9:30 am local time (EET)
 
 
SUMMARY
 
January–December 2014
• Net sales grew by 26.4% compared to 1-12/2013
• Net sales EUR 4.4 million (EUR 3.5 million)
• Operating loss, continuing operations, totalled EUR -4.5 million (EUR -5.9 million)
• The result for the reporting period, continuing operations, totalled EUR -4.4 million (EUR -5.9 million)
• The result for the reporting period, discontinued operations, totalled EUR 3.3 million (EUR 0.0 million)
• The result for the reporting period was EUR -1.2 million (EUR -5.9 million)
• Net sales from international operations 91.5% (87.8%) of total net sales
• Equity ratio 87.5% (82.2%)
 
October-December / Q4 2014
• Net sales grew by 44.2% compared to Q4/2013
• Net sales EUR 1.1 million (EUR 0.8 million)
• Operating loss, continuing operations, totalled EUR -1.2 million (EUR -1.5 million)
• The result for the reporting period, continuing operations, totalled EUR -1.2 million (EUR -1.6 million)
• The result for the reporting period, discontinued operations, totalled EUR 0.0 million (EUR 0.0 million)
• The result for the reporting period was EUR -1.2 million (EUR -1.6 million)
• Net sales from international operations 92.7% (84.3%) of total net sales
• Equity ratio 87.5% (82.2%)
 
 
PRESIDENT & CEO SEMI KORPELA:
 
‘In the fourth quarter of 2014, our net sales grew by 44.2% year on year. In terms of operational development, Biohit Oyj has focused on supporting its international distributor network, investing in clinical research and preparing for new product launches. 
 
During the year, Biohit launched three new products, of which the BIOHIT ColonView test for tracing fecal occult blood was re-launched in the last quarter. The other new products were the BIOHIT Active B12 (Holotranscobalamin) vitamin test and the BIOHIT Calprotectin ELISA test for the differentiation of inflammatory bowel disease (IBD) and irritable bowel syndrome (IBS) as well as monitoring of inflammatory bowel disease.
 
During the year, we continued to expand our distributor network. We also signed a distributor agreement with the Taiwanese Giraffes Pharmaceutical Company on sales and marketing rights to the Acetium® capsule and Acetium lozenge in Taiwan. In addition, we signed an agreement with Eastar Pharmaceuticals LLC on the distribution of the Acetium lozenge in China. We strengthened our international diagnostics distribution network by beginning cooperation with Eurobio, which acts as Biohit's diagnostics distributor in France, Morocco, Tunisia and Algeria. In addition, we signed an agreement with Bestbion on the distribution of quick tests in Germany.
 
We also entered into the following diagnostics agreements during the year: A&P Italian Pharmaceuticals S.r.l. (Romania), Biohemed (Serbia), Biomed S.A. (Spain), Meditecno Mèdicos e Sistemas de Diagnòstico Lda (Portugal), Polygon Diagnostics AG (extension of scope of agreement, Switzerland), ERICON S.r.l. (Moldova), R&D Systems China Co. Ltd. (China), MoiGen (Korea), Biospacific Inc. (USA), Kureha trading Co. Ltd. (Japan), Laboratorios Progalénika S.A. de C.V. (extension of scope of agreement, Argentina, Bolivia, Brazil, Chile, Columbia, Costa Rica, Ecuador, El Salvador, Guatemala, Guyana, French Guyana, Honduras, Mexico, Nicaragua, Panama, Paraguay, Peru, Surinam, Uruguay, Venezuela), JOLI Medical Products Inc. (USA), Al-Misbar Medical Technology Co. (Jordan), Gulfmed (Egypt), Aloris Vital s.r.o (Slovakia), Gulf Orlando Medical Company (Kuwait), Youlum Biotechnology Co. Ltd. (Taiwan), Productos Weens S.r.l. (Peru) and Jolex (Taiwan). In addition, we made the following agreements on Acetium products: A&P Italian Pharmaceuticals S.r.l (Romania), IlDengunHoshuu (Mongolia) and Biohemed (Serbia).
 
The duration of the product registration process is different in each market area. For this reason, it is not possible to accurately assess the time taken for the authorities to handle registrations in these areas and for product sales to begin. The registration of the acetaldehyde-binding capsule in Mexico has been delayed due to organizational changes in the local register authority.
 
At the end of the reporting period, a reimbursement decision on the three GastroPanel® tests (pg-l, pg-II, gastrin-17) was issued in seven Chinese provinces: Anhui, Gansu, Henan, Shandong, Shanxi, Sichuan and Tianjin.
 
In August, the Chinese health associations – The Chinese Society of Digestive Endoscopy and The Society of Ontological Endoscopy of the Chinese Anti-Cancer Association – issued a consensus clause on the screening, endoscopic diagnosis and treatment of early gastric cancer in China. This clause recommends serum screening based on the pg-1, pg-2, gastrin-17 and H. pylori tests, which combine to form GastroPanel. The consensus clause on the new GastroPanel approach to gastrointestinal diagnostics is a clear indication of the pioneering approach taken by Chinese healthcare organizations.
 
In October the partners Biohit Oyj and its joint venture Biohit Biotech (Hefei) Co., Ltd agreed to start a feasibility study in China regarding Acetium capsule as a potential medication to arrest the progression and even to restore atrophic gastritis. The agreement includes an option to negotiate a licensing deal concerning the product, in case the outcome of the feasibility study is positive. The feasibility study will be funded by the Chinese partners of joint venture Biohit Biotech (Hefei) Co., Ltd, in co-operation with Hefei Medicine.
 
In November, Niklas Nordström (B. Econ, LL.M.) was appointed as Chief Financial Officer and a member of the Management Team of Biohit Oyj. He will also be in charge of HR and IT management.’
 
.. read more (opens in a new window)