Biofrontera AG

B8FK

Equity

ISIN DE000A4BGGM7 / Valor 135165522

Xetra (2024-12-23)

EUR 2.30+4.55%

Biofrontera AG
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About company

Biofrontera AG, known by its Valor number 135165522, is a publicly traded company. The stock of the company is available through the stock provider Xetra. As of 23.12.2024, the current price of the stock is EUR 2.3. The latest price change for this stock is 4.55%, which reflects the market’s response to various factors such as company performance, industry trends, and global economic conditions. The company has been evaluated by users of Umushroom, and has received a rating of 0 stars.

Summarized from source with an LLMView SourceSector: Industrials

Revenue Decline

Biofrontera AG's revenue for the first quarter of 2024 fell significantly compared to the same period in 2023. The total sales amounted to 3,713 TEUR, a decrease of 36% from the previous year's 5,799 TEUR. This decline was primarily due to a change in the inventory policy of their US licensee, Biofrontera Inc., which accounts for more than 60% of Biofrontera AG's total sales.

European Business Growth

Despite the overall decline in revenue, Biofrontera AG's European business saw a 28% increase in the first quarter of 2024 compared to the same period in 2023. The company generated EUR 3,348 thousand in the first three months of 2024, up from EUR 2,614 thousand in the first quarter of 2023. This growth is part of Biofrontera AG's strategy to reduce its dependence on US revenue by expanding its European market.

Negative EBITDA

Biofrontera AG's EBITDA turned negative in the first quarter of 2024 due to the significant drop in revenue while overhead costs remained relatively stable. EBITDA fell to EUR ‑1,349 thousand, compared to ‑559 TEUR in the same quarter of the previous year. EBIT also declined, amounting to ‑1,555 TEUR compared to ‑759 TEUR in the same period of the previous year.

US Revenue Impact

Revenues from the USA decreased significantly in the first quarter of 2024, with Biofrontera AG recording only 309 TEUR. This decline is attributed to the changes in inventory policy at Biofrontera Inc., which will continue throughout the year. Additionally, the transfer price of new deliveries to Biofrontera Inc. has been reduced to 25% of the anticipated US sales price due to changes in the license and supply agreement.

Financial Outlook

For the 2024 financial year, Biofrontera AG anticipates revenue of EUR 20 to 23 million. EBITDA is forecasted to be in the break-even range of EUR -1 to +1 million, while EBIT is expected to be between EUR -2 million and break-even. The company expects EBITDA growth to normalize in subsequent years following the stabilization of the stockpiling policy of their main customer, Biofrontera Inc.

Summarized from source with an LLMView Source

Key figures

-75.1%1Y

-92.8%3Y

-97.5%5Y

Performance

106%1Y

83.0%3Y

79.0%5Y

Volatility