BioNTech Q4 Profit Down On Weak Revenues; Sees FY23 COVID-19 Vaccine Revenues Of €5 Bln

(RTTNews) - German biotechnology company BioNTech SE (BNTX) reported Monday that its fourth-quarter net profit was 2.28 billion euros, lower than last year's 3.17 billion euros.

Earnings per share fell to 9.26 euros from 12.18 euros a year ago.

Total revenues for the quarter were 4.28 billion euros, down from prior year's 5.53 billion euros. The company said the change corresponds with the demand for COVID-19 vaccines.

Looking ahead for fiscal 2023, estimated BioNTech COVID-19 vaccine revenues would be around 5 billion euros.

BioNTech said the revenue estimate reflects expected revenues related to its share of gross profit from COVID-19 vaccine sales in the collaboration partner's territories, and from direct COVID-19 vaccine sales to customers in BioNTech's territory. It also includes expected revenues from sales to collaboration partners which may be influenced by costs like inventory write-offs once materialized and shared with the collaboration partner Pfizer.