Medigene AG
Ad hoc-Service: MediGene AG english
Ad-hoc announcement precessed and sent by DGAP.
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MediGene AG announces preview on very successful financial year 2000
MediGene exceeds expectations on operating income as well as on result
March 15th, 2001. The internationally operating biopharmaceutical company
MediGene (Neuer Markt: MDQ) announced a preview on operating income and result
of the financial year 2000. The following preview for 2000 compared to the
previous year will be stated with and without taking into account the different
interpretation of U.S. GAAP accounting principles regarding the entry of
revenues from cooperations in the financial statements since analysts could not
presume these changes in their estimates.
In the very successful financial year 2000, MediGene was able to exceed
expectations. Without taking into account the different interpretation,
operating income rose from TEUR 5,960 in the year 1999 by 45% to TEUR 8,666 in
the year 2000. In addition to the reported operating income of TEUR 6,354 in
the year 2000, payments of TEUR 2,312 were received. These were not reported as
operating income as in the year before but were entered into the financial
statements as deferred income because of the different interpretation in the
year 2000.
An extremely important part of the balance sheet for biotech companies, the
position “cash and securities” amounted to TEUR 115,226 which is 90% of the
total assets. “With this very strong cash position and the planned revenues
from cooperations and product sales, the further financing of the current
research and development projects is secured until the planned break-even in
2004”, commented Dr. Peter Heinrich, Chief Executive Officer of MediGene AG.
The positive progress in the development of products, which included reaching
several milestones ahead of schedule, as well as the expansion of the business
activities led to a net loss of TEUR -6,952 for the year 2000 (without taking
into account the different interpretation) in comparison to TEUR -3,745 in
1999. This increase in net loss by 86% is below the expectations. Based on the
different interpretation the actual net loss for the year 2000 is TEUR -9,264.
MediGene’s detailed year end financial statements 2000 will be presented at its
analyst and press conference on March 28th, 2001.
This press release contains fonvard-lookirig statements that involve risks and
uncertainties. The forward-looking statements contained herein represent the
judgement of MediGene group as of the date of this release. These forward
looking statements are no guarantees fur future performance, and the forward-
looking events discussed in this press release may not occur. MediGene
group disclaims any intent or obligation to update any of these forward-looking
statements.
For further information please contact:
MediGene AG
Christine Bohner, Public Relations Tel.++49-89-89 56 32-16
Michael Nettersheim, Investor Relations Tel.++49-89-89 56 32-46
email: investor@medigene.de
fax: ++49 – 89 – 89 56 32-20
end of Ad hoc-announcement, (c) DGAP 15.03.2001
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WKN: 502090; Index: NEMAX- 50
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München und Stuttgart
150856 Mär 01
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