Back to growth and near to break-even
BRAIN Biotech AG publishes its Annual Report and reports record figures in fiscal year 2021/22
On January 16, 2023, we published our 2021/22 annual report. This was cause for clear happiness within the company, as despite the challenging geopolitical environment, the BRAIN Group was able to announce record figures. With consolidated revenues of € 49.5 million and total operating performance of € 53.1 million in the reporting year, the Group recorded very encouraging growth of 29 % and 30 %, respectively, compared to the previous fiscal year. Adjusted operating result before depreciation, amortization and taxes (adjusted EBITDA) posted a significant improvement close to break-even, compared with a loss of € 2.1 million in the previous year and despite the continuing high level of investment. Excluding the continued high investments in the development of the genome editing business under the brand name Akribion Genomics, adjusted EBITDA would have been positive by approximately € 1.9 million.
The strong organic growth resulted from both improved order intake in the project business in the BioScience segment as well as from an expanding product business in the BioIndustrial segment.
“As planned, we were able to continue to significantly expand our product business, particularly in enzymes, and revive our project business in the Tailor-Made Solutions area to the pre-crisis level”, commented CEO Adriaan Moelker on the positive development of the Group's business after the publication of the Annual Report 2021/22 including the 12M figures. In this context, he expressed his thanks to employees of the entire BRAIN Group for their outstanding personal commitment.
Chief Financial Officer Michael Schneiders emphasized that the past year was finished well within the scope of the full-year forecast despite persistently tight supply chains and high cost inflation for energy, wages and upstream products. “BRAIN Biotech´s business model is proving increasingly robust”, he said. Schneiders has been CFO of BRAIN Biotech AG since October 1, 2022, and succeeded Lukas Linnig, who stepped down as CFO at the end of the 2021/22 fiscal year in order to manage the Akribion Genomics activities together with Dr. Michael Krohn in the future.
Adriaan Moelker formulates the Group's future course of action as follows: “We will continue along our path of further strengthening the product business and focusing our research services as a provider of integrated solutions.”
In the BRAIN Biotech AG Annual Report 2021/22, you will find an interview with CEO Adriaan Moelker, the new CFO Michael Schneiders and his predecessor Lukas Linnig on page 22.
Image: (from left) Lukas Linnig, Adriaan Moelker, Michael Schneiders