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Bankleitzahlen - online.de


GENEART Publishes Financial Results for First Half 2009

- Net sales increased by 3.4 % to EUR 8.1M with a slightly positive
result
- New business unit Protein Services implemented to round off the
product line for the development of biopharmaceuticals
- Prognosis for 2009 unchanged and reconfirmed

Regensburg, August 13, 2009 - GENEART AG, global leader in Gene
Synthesis and specialist in the field of Synthetic Biology, showed
stable business development correlating with current expectations in
the Interim Consolidated Financial Statements for the second quarter
and first half of 2009. Net sales increased moderately by 3.4 % to
EUR 8.1M during the first half of 2009 compared to the prior year
(first half 2008: EUR 7.9M). Second quarter 2009 net sales increased
by 2.9 % to EUR 4.1M compared to the prior year's reference quarter
(second quarter 2008: EUR 4,0M). Thus, despite a difficult market
environment, GENEART managed to compensate for the expiring major
contract by the NIH (U.S. American National Institutes of Health) in
the third quarter 2008 by an increasing number of medium-sized and
small orders. With new customers in the medium and small segments,
the customer structure continued to broaden significantly, and the
market share of GENEART in Gene Synthesis could be extended again.

Considering the difficult market environment and the currently
cautious behaviour of customers of the pharmaceutical, biotech and
chemical industries when placing major orders, GENEART was able to
generate a satisfying EBITDA of EUR 0.8M for the first half of 2009.
During the prior year's reference period EUR 1.4M were recorded. The
Group's EBIT totaled EUR 26 thousand for the first half of the year.
After adding the financial result of EUR 39 thousand the EBT reached
EUR 66 thousand (first half 2008: EUR 1.1M).

While first quarter 2009 results had still been severely affected by
a price increase for the chemical acetonitrile, the switch to an
alternative substance could already be noticed in a decreasing
material cost ratio during the second quarter. Starting in the second
half of the year GENEART expects to see the material cost ratio to
reach normal levels again.

The investment program implemented in 2008 resulted in an increase of
the cost structure and affected the 2009 results. With these
investments GENEART created a highly automated and scalable
technology platform, which allows to significantly boost production
capacities even on short notice and with only a moderate cost
increase. This is a prerequisite for GENEART to profit
superproportionally from increasing demand through economies of scale
and to actively support market consolidation in the field of Gene
Synthesis providers.

In addition to its cost leadership GENEART proved its technology
leadership once again during the second quarter 2009 when producing
genes for a vaccine against the so-called swine flu (H1N1). GENEART
succeeded in producing the required genes for the vaccine in record
time - among others for the Robert Koch Institute (RKI - the Federal
Government's central institution responsible for disease control and
prevention) and for one of the Top 10 pharmaceutical companies.

A key strategic focus at GENEART is the expansion of its product
portfolio in order to offer system solutions to customers. Since the
launch of the business unit Protein Services for the generation of
cell lines and the production of proteins in mammalian cells in May
2009, GENEART can offer the entire value chain from the gene to the
protein, and thus, a comprehensive range of products for the
development of biopharmaceuticals. This enables GENEART to develop
additional sales and profit potentials apart from Gene Synthesis in
the future.

Based on the current economic situation and its current order status,
the company still expects net sales of EUR 16M for 2009 to be at
least at prior year's levels. Assuming a recovery of the economic
environment, net sales between EUR 17M and EUR 18M can be expected
with a balanced EBIT for the entire year, as it had already been
achieved in the first half of the year.








For further inquiries, please contact:

Dr. Karoline Stürmer
GENEART AG
Josef-Engert-Str. 11
93053 Regensburg
Germany
Phone: +49-(0)941-942 76-417
Fax: +49-(0)941-942 76-711
ir@geneart.com
www.geneart.com

Frank Ostermair
Better Orange IR & HV AG
Haidelweg 48
81241 Munich
Germany
Phone: +49-(0)89-8896906-10
Fax: +49-(0)89-8896906-66
info@better-orange.de
www.better-orange.de

Legal Information:
This document may contain estimates, prognoses and opinions about
company plans and objectives, products or services, future results,
opinions about these results or opinions leading up to these results.
All these projections into the future are subject to risk,
uncertainty and unforeseeable change outside the control of the
GENEART Group. Many factors may lead to actual results, which
considerably deviate from the given projections for these results.

About GENEART AG:

In 2000, GENEART entered the Gene Synthesis market and has since
become the global market leader. Today, the company is one of the
leading specialists in the Synthetic Biology field. Experts at
GENEART provide key technologies for the development and production
of new therapeutics and vaccines. Customers also take advantage of
GENEART services to customize enzyme attributes, such as the
attributes of enzymes used as detergent additives, and to construct
bacteria, which produce complex biopolymers or break down polymers,
such as synthetics, petroleum components, etc. GENEART's service
portfolio ranges from the optimization and production of synthetic
genes according to DIN EN ISO 9001:2000, to the generation of gene
variants or complex gene libraries and the production of cell lines,
to the development and production of DNA and protein based drug
candidates. GENEART AG in Regensburg and its subsidiaries GENEART
Inc. in Toronto (Canada) and GENEART Inc. in San Francisco (USA)
employ about 190 people. The company is listed on the German Stock
Exchange since May 2006.


This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
Copyright © Hugin AS 2009. All rights reserved.



 
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