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B.R.A.I.N. BIOTECHNOLOGY AG NAMENS-AKTIEN O.N.

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dpa-AFX: DGAP-News: B.R.A.I.N. Biotechnology Research And Information Network AG: BRAIN achieves double-digit growth in total operating performance and revenues in the 2017/18 financial year (english)

14.12.2018 - 09:00:31
B.R.A.I.N. Biotechnology Research And Information Network AG: BRAIN achieves
double-digit growth in total operating performance and revenues in the 2017/18
financial year

DGAP-News: B.R.A.I.N. Biotechnology Research And Information Network AG /
Key word(s): Preliminary Results/Annual Results
B.R.A.I.N. Biotechnology Research And Information Network AG: BRAIN achieves
double-digit growth in total operating performance and revenues in the
2017/18 financial year

14.12.2018 / 09:00
The issuer is solely responsible for the content of this announcement.

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BRAIN achieves double-digit growth in total operating performance and
revenues in the 2017/18 financial year

  * Group total operating performance increases by 13.1% and reaches EUR
    30.5 million; revenues increase by 12.2% to EUR 27.1 million


  * Establishment of the three business units Nutrition & Health, Skin Care
    and Industrial BioSolutions to focus on the most important fields of
    application in the product business


  * Successful integration of the leading speciality enzyme producer
    Biocatalysts Ltd. in the BRAIN Group as pillar of growth of the business
    unit Nutrition & Heath



Zwingenberg, Germany
14 December 2018

BRAIN AG today announces several key figures for the 2017/18 financial year.
Accordingly, the BRAIN Group increased its revenues by 12.2% from EUR 24.1
million to EUR 27.1 million. Total operating performance in the reporting
period from October 1, 2017, to September 30, 2018, grew by 13.1%
year-on-year from EUR 26.9 million to EUR 30.5 million. This was mainly due
to the business activities of Biocatalysts Ltd. acquired on March 17, 2018.
Adjusted EBITDA for the financial year 2017/18 decreased from EUR -4.7
million in the previous year to EUR -5.4 million against the backdrop of
lower fixed cost degression. The BioIndustrial segment, which is decisive
for the achievement of the growth targets of the BRAIN Group for the
illustration of product business, made an adjusted EBITDA contribution of
EUR 0.9 million. Cash flow from operating activities increased to EUR -5.4
million compared with EUR -5.8 million in the same period of the previous
year.

Valuation of the 2017/18 financial year

"BRAIN continues to grow and we are proud to have achieved double-digit
growth. Nevertheless, in the 2017/18 financial year we failed to meet our
own expectations in transforming our company into a fully integrated
bio-economy player. Therefore, we have further sharpened our strategy and
repositioned the Group for sustained growth, especially in the important
product business by establishing the three business units Nutrition &
Health, Skin Care and Industrial BioSolutions in order to focus on the most
promising application areas of industrial biotechnology. Also we created the
new position of Chief Business Officer (CBO) to the management board.1 On
the basis of these strategic decisions, the main focus in the financial year
2018/19 remains on both organic and inorganic growth of the Group," says Dr.
Jürgen Eck, CEO of BRAIN AG.

"In the 2017/18 financial year, the forward-looking measures to strengthen
growth included the continued focus on our M&A strategy in order to improve
global market access. With the acquisition of Biocatalysts Ltd. in March
2018, we took a significant step forward. The product-specific spin-off of a
highly advanced BRAIN development program was successfully completed for the
first time in August 2018. The spin-off SolasCure Ltd. is now dedicated to
the development and commercialization of novel products for the conditioning
of chronic wounds based on the wound cleansing enzyme Aurase(R) which we
discovered", adds Frank Goebel, CFO of BRAIN AG until end of 2018.2

Business Segments & Group

In the BioIndustrial segment, which is product scalable, revenues increased
to EUR 18.8 million in the financial year, compared with EUR 13.5 million in
the same period of the previous year, which represents an increase of 39.0%.
The BioIndustrial total operating performance reached EUR 19.4 million
compared to EUR 13.9 million in the previous year.

The BioScience segment, based mainly on exclusive research collaborations
with industrial partners, saw its revenues decline from EUR 10.7 million
year-on-year to EUR 8.3 million in the reporting period. In the same period,
total operating performance decreased to EUR 11.1 million compared to EUR
13.2 million in the previous year.

Adjusted Group EBITDA increased from EUR -4,7 million to EUR -5.4 million
year-on-year. The lower profitability reflects the partially declining
development of revenues and total operating performance in some business
areas.

Operating cash flow increased from EUR -5.8 million to EUR -5.4 million in
line with the business development described above, despite the EBITDA
development. Cash decreased from EUR 39.0 million as of September 30, 2017
to EUR 25.5 million as of September 30, 2018, mainly through the acquisition
of company shares of Biocatalysts Ltd.

Development pipeline & projects

In all three product categories offered by the BRAIN Group, bioactive
natural substances, tailor-made enzymes and high-performance microorganisms,
projects in the development pipeline made further progress in the 2017/18
financial year - some up to the threshold of market entry.

CEO Dr. Jürgen Eck comments on BRAIN's development pipeline for the future
realisation of product business: "A member for a smaller market segment left
the DOLCE program for natural sugar substitutes and sweetness enhancers in
the 2017/18 financial year. However, the core team anticipates new
partnerships for unallocated market segments, driven by the achievement of a
significant milestone in early 2018. Significant progress has also been made
in the Urban & Green Mining development programs for the biological
extraction of precious metals from waste streams and ores. With the
successful scale-up of precious metal extraction from ores to the metric
tons level, we were able to announce our partnership with Evonik subsidiary
CyPlus GmbH in June 2018. Recent development projects with high market
potential include the FRESCO program for bioactive natural products with
antimicrobial properties for various industry segments. In December 2018 we
were able to announce a first partnership."

Key Financials (financial year 2017/18)

   (in EUR million)                                12M         12M
                                                 2017/18     2016/17
   Revenues                                           27.1          24.1
   Total operating performance                        30.5          26.9
   BioScience                                         11.1          13.2
   BioIndustrial                                      19.4          13.9
   Adjusted EBITDA                                    -5.4          -4.7
   Acquisition and integration costs                   1.0           0.0
   Employee participation program AnalytiCon          -0.2          -0.6
   Discovery GmbH
   Share based compensations                           0.0          -2.4
   EBITDA                                             -6.7          -7.7
   Operating cash flow                                -5.4          -5.8
                                                30.09.2018    30.09.2017
   Cash                                               25.5          39.0

1 Revenues + change in inventories + other income + R&D grants

More detailed information on the financial results will be available at
www.brain-biotech.de/en/investor-relations/financial-publications as part of
the Annual Report of BRAIN AG. This will be published as planned on January
10, 2019.

Notes

1 Designated CBO of BRAIN AG is Ludger Roedder (
https://www.brain-biotech.de/en/press/20181010-Ludger-Roedder-to-become-new-Chief-Business-Officer-at-BRAIN-AG)
2 Frank Goebel's designated CFO successor is Manfred Bender (
https://www.brain-biotech.de/en/press/20181121_manfred_bender_set_to_join_brain_ags_management_board_as_chief_financial_officer)

About BRAIN

B.R.A.I.N. Biotechnology Research and Information Network AG (BRAIN AG; ISIN
DE0005203947 / WKN 520394) is one of Europe's leading technology companies
in the field of industrial biotechnology, the core discipline of Bioeconomy.
As such, BRAIN identifies previously untapped, efficient enzymes, microbial
producer organisms or natural substances from complex biological systems
that can be put to industrial use. The innovative solutions and products
developed by help of this "Toolbox of Nature" are successfully applied in
the chemistry, the cosmetics and the food industries. BRAIN's business model
is based on two pillars - BioScience and BioIndustrial. The BioScience
comprises its frequently exclusive collaboration business with industrial
partners. BioIndustrial comprises the development and commercialization of
BRAIN's own products and active product components. Further information is
available at www.brain-biotech.de/en.

BžRžAžIžN
Biotechnology Research
And Information Network AG
Darmstädter Str. 34-36
64673 Zwingenberg
Germany
www.brain-biotech.de/en/

Investor Relations Contact
Dr. Martin Langer
Executive Vice President
Corporate Development
Tel.: +49-6251-9331-16
Fax: +49-(0)-6251-9331-11
E-Mail: ir@brain-biotech.de

Media Contact
Thomas Deichmann
Head of Public Relations
Tel.: +49-6251-9331-72
E-Mail: td@brain-biotech.de

Disclaimer

This press release contains forward-looking statements. These statements
reflect the current views, expectations, and assumptions of the management
of BRAIN AG and are based on information currently available to the
management. Forward-looking statements are not guarantees of future
performance and involve known and unknown risks and uncertainties that could
cause actual results, performance or events to differ materially from those
expressed or implied in such statements. There are numerous factors which
could influence the future performance by and future developments at BRAIN
AG and the BRAIN group of companies. Such factors include, but are not
limited to, changes in the general economic and competitive environment,
risks associated with capital markets, currency exchange rate fluctuations,
changes in international and national laws and regulations, in particular
with respect to tax laws and regulations, and other factors. BRAIN AG does
not undertake any obligation to update or revise any forward-looking
statements.


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14.12.2018 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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   Language:    English
   Company:     B.R.A.I.N. Biotechnology Research And Information Network
                AG
                Darmstädter Straße 34-36
                64673 Zwingenberg
                Germany
   Phone:       +49 (0) 62 51 / 9331-0
   Fax:         +49 (0) 62 51 / 9331-11
   E-mail:      ir@brain-biotech.de
   Internet:    www.brain-biotech.de
   ISIN:        DE0005203947
   WKN:         520394
   Listed:      Regulated Market in Frankfurt (Prime Standard); Regulated
                Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
                Stuttgart, Tradegate Exchange




End of News DGAP News Service
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758185 14.12.2018

Bezeichnung
WKN
Börse
Kurs
Währung
±
±%
Kurs vom
B.R.A.I.N. NA 520394
Xetra
12,240
EUR
+0,34
+2,86%
17.12.18
10:12:33
Zeit Meldung
14.12.
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