Skip to main content

Biofrontera reports preliminary unaudited sales revenue for the first three months of 2020

Written by Customer Service on . Posted in Public Companies.

Leverkusen, Germany, April 17, 2020 (GLOBE NEWSWIRE) — Biofrontera AG (NASDAQ: BFRA; Frankfurt Stock Exchange: B8F) (the “Company”), an international biopharmaceutical company, today reports preliminary unaudited revenue for the first three months of fiscal year 2020.
The preliminary unaudited revenue of the Company for the period January 1 to March 31, 2020 was in the range of EUR 6.4 to 6.6 million. This represents a decline of approximately 5% compared to the previous year period. The current COVID-19 pandemic had a major impact on the Company’s business, with very little sales in particular in the second half of March.The largest impact on business was noted in the US, with product sales expected to be approximately EUR 4.2 million compared to EUR 5.2 million in the same period in 2019 (-20%). First quarter 2020 product sales in Germany increased by approximately 20% to EUR 1.3 million compared to EUR 1.1 in the first quarter of 2019. Revenue generated in the remainder of Europe was around EUR 0.8 million, compared to EUR 0.6 million in the same period last year. The main contributor to this increase were revenues generated in Spain, which developed quite strongly before regional lockdown due to the COVID-19 pandemic reduced sales substantially.Given the dynamic situation with the coronavirus crisis, the Company’s ability to predict sales development is severely limited. Biofrontera has already initiated cost reduction measures as published on March 20, 2020. The Company continues to retain cash while preparing for a rebound in business once the markets have recovered.-End-

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.