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Geneart AG (OJ:G6A) - Net sales for 2008 at EUR 11.7M after 9 months - EBIT reaches EUR 1.4M - For the entire year of 2008, net sales between EUR 15.5M and 16.5M are expected with EBIT at prior year's level - Market position was further expanded in slightly weaker market conditions
Regensburg, November 6, 2008 - GENEART AG, the global leader in gene synthesis and specialist in the field of Synthetic Biology, reached net sales of EUR 11.7M (preliminary figures) during the first nine months of 2008. This exceeds prior year's net sales figures of EUR 9.0M for the reference period by 30 %. The operating result (EBIT) totaled EUR 1.4M after nine months and was therefore at previous year's levels.
The results of the third quarter with net sales of EUR 3.9M (Q3 2007: EUR 3.5M) and EBIT of EUR 0.5M (Q3 2007: EUR 0.7M) were largely affected by the current market insecurity. While GENEART's figures for the first half of 2008 reflected budgeted numbers precisely, the annual net sales prognosis needs to be adjusted to between EUR 15.5M and 16.5M (net sales 2007: EUR 12.3M) due to current market developments. EBIT is expected to reach previous year's levels of approx. EUR 1.8M.
Strong growth of small and medium-sized orders during the third quarter completely offset reduced orders on hand due to expiring large volume orders. This enabled GENEART to strengthen its position versus its competition during difficult market conditions. A regionally diversified customer structure across various industries contributed to this positive development, which cushions fluctuations of individual market segments as much as possible. With this in mind the company expects steady, but slightly reduced growth for 2009.
"Over the past months we managed again to significantly improve our market position and customer base and hence lastingly reduced the dependency on major contracts, which materialize only haltingly in the current market", commented Christian Ehl, CEO of GENEART.
"Our investments of EUR 3.8M during the first nine months of 2008 are an indication of our undaunted trust in a positive market development over the medium term. At the same time we increased our competitive advantage as a technology and cost leader in the field of gene synthesis by industrializing and automating our technology. These competitive advantages are a vital requirement to consistently expand our market share in the future", added Prof. Dr. Ralf Wagner, CEO of GENEART.
Frank Ostermair Better Orange IR & HV AG Haidelweg 48 81241 Munich Germany Phone: +49-(0)89-8896906-10 Fax: +49-(0)89-8896906-66 info@better-orange.de www.better-orange.de
Legal Information This document may contain estimates, prognoses and opinions about company plans and objectives, products or services, future results, opinions about these results or opinions leading up to these results. All these projections into the future are subject to risk, uncertainty and unforeseeable change outside the control of the GENEART Group. Many factors may lead to actual results, which considerably deviate from the given projections for these results.
About GENEART AG: In 2000, GENEART entered the gene synthesis market and has since become the global market leader. Today, the company is one of the leading specialists in the Synthetic Biology field. Experts at GENEART provide key technologies for the development and production of new therapeutics and vaccines. Customers also take advantage of GENEART services to customize enzyme attributes, such as the attributes of enzymes used as detergent additives, and to construct bacteria, which produce complex biopolymers or break down polymers, such as synthetics, petroleum components, etc. Our production and service spectrum spans a wide range, from the production of synthetic genes according to DIN EN ISO 9001-2000, to the creation of gene libraries in the combinatorial biology, to the development and production of DNA-based biologically active substances. The GENEART AG in Regensburg (Germany) and the subsidiaries GENEART Inc. in Toronto (Canada) and GENEART Inc. in San Francisco (USA) employ more than 190 people. Since May 2006, GENEART is listed on the German Stock Exchange.
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