In the biotechnology industry, A bio hit, has shown a significant increase in turnover exceeding the expectations for the second half of the previous year.
The turnover of Biohit for the period from July to December 2023 was estimated at around EUR 6.6 million. This significantly exceeded the forecast of the only analysis house, Inderes, which predicted a turnover of EUR 5.9 million. In comparison to the previous year, the turnover has shown an increase from EUR 4.8 million.
The operating EBITDA for Biohit also increased, reaching EUR 0.6 million. This is a significant increase from the previous EUR 0.1 million during the comparison period.
Meanwhile, the operating income for the company was reported at EUR 0.3 million, which was below the EUR 0.4 million expected by Inderes. In the previous period, the operating result was recorded at a negative EUR 0.2 million.
“The quick tests sold well overall”
Biohit’s CEO, Jussi Hahtela, stated in a press release issued by the company that, “The parent company and the UK and Italian subsidiaries all improved their sales significantly. The quick tests performed exceptionally well overall, and the company’s flagship product, GastroPanel, sold well in all product variations.”
Hahtela further noted, “Geographically, the growth was particularly noticeable in Europe. The regional and product-specific distribution of sales is a favorable development from the point of view of risk management.”
Biohit announced that it does not plan to distribute a dividend for this fiscal year. The company did not provide any guidance in conjunction with the results announcement. However, it reiterated its previously published strategy. According to this strategy, the company aims to achieve an annual growth rate of 15–20 percent in the coming years and an operating profit margin of at least 10 percent.
