Schering AG raises outlook for 2005 after strong first six months

25-Jul-2005

Schering AG increased net sales in local currencies by 7 percent in the first six months of 2005. Group net sales were slightly impacted by exchange rates fluctuations (-1%). In total, net sales rose by 6 percent to EUR 2.547 billion.

The operating profit amounted to EUR 466 million in the first six months of 2005, 12 percent above the previous year's figure. Net profit increased by 23 percent to EUR 320 million. Earnings per share improved by 24 percent to EUR 1.68. This high increase is partly due to the sale of a 25 percent stake in Medac GmbH in June 2005. Adjusted for this one-time effect, earnings per share improved by 14 percent to EUR 1.55.

For 2005, Schering AG expects the operating margin to increase and be in the range of 16.5 to 17 percent. Net sales growth of Betaferon® is expected to be in the high single-digit range in local currencies.

"We are very pleased by the excellent business performance of the first six months, which was driven by the success of our innovative products," said Dr. Hubertus Erlen, Chairman of the Executive Board of Schering AG. " We are raising our profitability target for 2005 as we expect our strong earnings momentum to continue throughout the second half of this year. "

In the fertility control area, Schering AG achieved net sales growth of 9 percent*. Yasmin® net sales increased by 34 percent (EUR 256 million). Yasmin® is the top-selling birth control pill worldwide.

Net sales of Betaferon®, a product for the treatment of multiple sclerosis, increased by 9 percent (EUR 404 million). In the second quarter, Betaferon® net sales rose by 15 percent.

Net sales for Diagnostic Imaging products increased by 7 percent. With Magnevist®, the leading contrast agent for magnetic resonance imaging, Schering AG achieved growth of 10 percent (EUR 161 million).

https://www.chemeurope.com/en/news/47852/schering-ag-raises-outlook-for-2005-after-strong-first-six-months.html