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ots Ad hoc-Service: MediGene AG <DE0005020903> MediGene AG announces preview on very successful financial year 2000

Munich (ots Ad hoc-Service) -

Ad hoc-announcement edited and sent by DGAP. The sender is solely
responsible for the contents of this announcement.
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
WKN: 502090; Index: NEMAX- 50 Listed: Neuer Markt in Frankfurt;
Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München
und Stuttgart
End
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