BioNTech 1Q Earnings, Revenue Drop on Waning Covid-19 Shot Sales
08 Maio 2023 - 08:49AM
Dow Jones News
By Cecilia Butini
BioNTech said Monday that earnings and revenue declined
significantly in the first quarter of the year as it booked lower
sales of its best-selling Covid-19 vaccine compared with the year
prior.
Net profit for the quarter came in at 502.2 million euros
($553.3 million), down from EUR3.70 billion in the first quarter of
2022. Quarterly revenue was EUR1.28 billion, compared with EUR6.37
billion the year prior, while earnings per share dropped to EUR2.05
from EUR14.24, the German biotechnology company said.
The company backed its outlook for 2023, noting that it expects
to total about EUR5 billion in revenue for its Covid-19 vaccine. It
added that seasonal demand for the jab should see revenue weighted
to the second half of the year.
"While a vaccine adaptation is expected to lead to increased
demand, fewer primary vaccinations and lowered population-wide
levels of boosting are anticipated," BioNTech said.
Write to Cecilia Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
May 08, 2023 07:34 ET (11:34 GMT)
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