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News Archive

BIOHIT GROUP INTERIM REPORT Q2-2015

20.08.2015 09:30

erim Report, 20 August 2015 at 9:30 am local time (EEST)
 
SUMMARY
 
January–June / H1 2015
 
Net sales grew by 72.4% compared with H1-2014
Net sales EUR 3.5 million (EUR 2.0 million)
Operating result, continuing operations EUR -1.5 million (EUR -2.4 million)
Result for the reporting period, continuing operations EUR -1.4 million (EUR -2.3 million)
Result for the reporting period, discontinued operations EUR 0.0 million (EUR 3.3 million)
Total result for the reporting period EUR -1.4 million (EUR 1.0 million)
Net sales from international operations 88.2% (90.1%) of total net sales
Equity ratio 84.7% (84.7%)
 
April–June / Q2 2015
Net sales grew by 109.8% compared with Q2-2014
Net sales EUR 2.3 million (EUR 1.1 million)
Operating result, continuing operations EUR -0.5 million (EUR -1.3 million)
Result for the reporting period, continuing operations EUR -0.4 million (EUR -1.3 million)
Result for the reporting period, discontinued operations EUR 0.0 million (EUR 0.0 million)
Total result for the reporting period EUR -0.4 million (EUR -1.3 million)
Net sales from international operations 89.3% (89.5%) of total net sales
Equity ratio 84.7% (84.7%)
 
PRESIDENT & CEO SEMI KORPELA:
 
‘During the reporting period, the development of net sales continued on a growth path and earnings improved compared to January-June 2014. The focus of Biohit Oyj’s business development during the second quarter of 2015 was on increasing services sales, expanding the international distributor network and supporting existing partners, for example by assisting in product registrations. In addition, as planned we have continued our work in order to improve the medical practices (incl. cancer screenings) and also to increase public awareness of acetaldehyde. Key factors have been the utilization of the latest international and Finnish research and increasing public awareness of our products.
 
The motion of the European Parliament´s committee on Environment, Public Health and Food Safety (ENVI) was accepted in May 2015, containing key elements regarding acetaldehyde. European Parliament urged the Commission to immediately ask the European Food Safety Authority (EFSA) to re-evaluate the use of acetaldehyde as a flavouring substance in alcoholic and non-alcoholic beverages.
 
In May, Biohit Oyj and Mekalasi Oy signed a distributor agreement regarding Biohit Quick Tests in Finland. In June, we expanded our Acetium lozenge distribution to dental care by signing an agreement with Finnish Hammasväline Oy for the distribution of Acetium lozenges in Finland. Finnish Oriola Oy will supply Acetium lozenges to Hammasväline Oy. The agreement between Biohit Oyj and Oriola Oy came into force on 1 June 2015 and covers all Acetium products.
 
In international markets we expanded our co-operation with our Russian distributor Melon to cover the distribution of diagnostic products in Kazakhstan. In May, Biohit Oyj and El-Alawia Medical Agencies signed a distribution agreement for Sudan. In June, we strengthened our existing partnership with Serbian Biohemed by expanding our distribution network to cover the distribution of diagnostic products in Serbia, Bosnia Herzegovina and Montenegro. In June, an Italian company, LSPHARMA S.r.l., was appointed our new distributor of Acetium products in Italy.
 
The GastroPanel trademark was registered in the United States in May. In addition, during the reporting period, Eurasian patent for acetaldehyde binding products was registered in Azerbaijan, Kirgizia, Armenia, Belarus, Kazakhstan, Moldavia, Tajikistan, Russia and Turkmenistan. 
 
After the reporting period in July the registration of Acetium capsules in China was completed and our partner GrandPharma will begin the sales of Acetium capsules using the Chinese brand name Shubang by the end of the year. After the reporting period we also signed a distributor agreement with Portuguese Arium. The agreement came into force in July and it covers the distribution of diagnostic products in Portugal.
 
After the reporting period China started two gastric cancer screening studies using Biohit Oyj’s GastroPanel test. 
The first study of early gastric cancer screening in the National Clinical Research Center for Digestive Diseases (Changhai Hospital), is funded by the Ministry of Science and Technology, which is the organizer of a multi-center study of early gastric cancer risk screening. The study will will involve at least 20,000 persons in approximately 50 hospitals. The screenings are set to begin in 2015 and end in December 2016.
 
The second study is being conducted in Chinese healthcare centers by the China Health Promotion Foundation. The foundation is a public organisation, managed by the Chinese Ministry of Health. Around half a million 40-80-year-old asymptomatic persons will be tested in the study. The sample collection has begun in the summer of 2015.
 
GastroPanel tests delivered to China had a positive impact on the reporting period’s net sales.’

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