In total, the BRAIN Group increased its consolidated revenue by 42.5 percent from EUR 27.1 million to EUR 38.6 million in the past financial year. The revenue growth is equally attributable to the acquisition of the Biocatalysts Group in March 2018 and organic revenue growth. Total operating performance in the reporting period from October 1, 2018 to September 30, 2019 increased by 35.3% from EUR 30.5 million to EUR 41.2 million compared with the prior-year period.
Adjusted EBITDA improved from EUR -5.3 million in the previous year to EUR -2.1 million due to economies of scale and the associated disproportionately lower cost development. A contributing factor to this improvement was the increasing expansion of the product business in the BioIndustrial segment, which contributed EUR 2.8 million to adjusted EBITDA. The improvement in EBIT from EUR -9.6 million in the previous year to EUR -7.2 million was a little less pronounced due to the additional amortization of goodwill following the sale of Monteil Cosmetics International GmbH. The net result for the year after non-cash-relevant accounting effects in the financial result amounted to EUR -10.5 million compared to EUR -8.1 million in the previous year. Due to a correction following the preparation of the preliminary figures, the above-mentioned earnings figures are each slightly better than those published on 12 December 2019. The positive business development is also reflected in the cash flow from operating activities, which increased from EUR -5.4 million in the previous year to EUR -3.4 million. With liquid funds of EUR 15.2 million, BRAIN AG maintains a strong capital base for the expected future growth of the company.
The annual report 2018/19 of BRAIN AG titled “Pioneering Bioproducts” is available at
For the 2019/20 financial year, the Management Board expects a positive business development with substantial organic revenue growth in both segments and a considerably improved, but still negative adjusted EBITDA. With a significantly improved earnings situation in both segments, the BioIndustrial segment is expected to post a further increasing positive adjusted EBITDA and the BioScience segment a continued negative adjusted EBITDA.
BRAIN AG Annual Report 2018/19:
Upon request, a printed copy of the annual report can be sent by mail.