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ots Ad hoc-Service: MediGene AG
MediGene AG announces
preview on very successful financial year 2000
Ad hoc-announcement edited and sent by DGAP. The sender is solely responsible for the contents of this announcement. -----------------------------------------------------
Munich (ots Ad hoc-Service) - 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:
Christine Bohner, Public Relations Tel.++49-89-89 56 32-16 Michael Nettersheim, Investor Relations Tel.++49-89-89 56 32-46
email: firstname.lastname@example.org fax: ++49 - 89 - 89 56 32-20
WKN: 502090; Index: NEMAX- 50 Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart
End ----------------------------------------------------- Internet: http://recherche.newsaktuell.deOriginal-Content von: MediGene AG, übermittelt durch news aktuell