Leverkusen, Germany (pta075/29.04.2022/23:40) - Biofrontera AG (ISIN: DE0006046113, US OTC: BFAGY), an international biopharmaceutical company, had announced its guidance for the 2022 fiscal year in its ad hoc announcement of April 4, 2022. The Management Board stated therein that with the expectation of a further recovery of the most important sales markets from the pandemic consequences, Biofrontera AG should achieve sales between EUR 24 and 27 million for the 2022 financial year following the realignment of the company through the independence of Biofrontera Inc. and deconsolidation. On an adjusted (deconsolidated) basis, this should correspond to an increase of more than 40% compared to the previous year. It was also stated that, under these conditions, Biofrontera AG is expected to achieve approximately break-even EBITDA and a negative EBIT in the low single-digit million range in 2022 and, if the markets continue to recover, to generate further revenue increases and positive EBITDA and EBIT from 2023 onwards.
With reference to the aforementioned, the Executive Board now specifies its guidance for EBITDA and EBIT to the extent that if the markets continue to recover, the Company expects increasing revenues as well as both a positive EBITDA and EBIT in the low single-digit million range from 2023 onwards.
Biofrontera AG is a biopharmaceutical company specializing in the development and sale of dermatological drugs and medical cosmetics. The Leverkusen-based company develops and markets innovative products for the treatment, protection and care of the skin. Its key products include Ameluz®, a prescription drug for the treatment of non-melanoma skin cancer and its precursors. Ameluz® has been marketed in the EU since 2012 and in the USA since May 2016. In Europe, the company also markets the Belixos® dermocosmetic series, a specialty care product for damaged skin. Biofrontera is one of a few German pharmaceutical company to receive a centralized European and a US approval for a drug developed in-house. The Biofrontera Group was founded in 1997 by Prof. Dr. Hermann Lübbert and is listed on the Frankfurt Stock Exchange (Prime Standard) and on US OTC market (BFAGY). www.biofrontera.com
Forward-looking statements: Certain statements in this press release are forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995. These statements may be identified by the use of forward-looking terminology such as "anticipate", "believe", "predict", "estimate" and "intend", among others. Such forward-looking statements are based on current estimates and assumptions made by Biofrontera AG's management to the best of its knowledge and belief, which in their opinion are reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, financial condition, performance or achievements of the company or industry to be materially different from any future results, financial condition, performance or achievements expressed or implied by such forward-looking statements. No undue reliance should be placed on such statements. Forward-looking statements speak only as of the date they are made, and the Company undertakes no obligation to update or revise any forward-looking statements.(end)
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