BIOHIT GROUP INTERIM REPORT Q1-2015

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Biohit Oyj Interim Report, May 7, 2015 at 9:30 a.m. local time (EEST)


SUMMARY

January–March 2015

  • Net sales grew by 28.2% compared with January–March 2014
  • Net sales EUR 1.2 million (EUR 0.9 million)
  • Operating result, continuing operations EUR -1.0 million (EUR -1.2 million)
  • Result for the reporting period, continuing operations EUR -0.9 million (EUR -1.0 million)
  • Total result for the reporting period EUR -0.9 million (EUR 2.2 million)
  • Net sales from international operations 86.2% (90.7%) of total net sales
  • Equity ratio 88.0% (31 December 2014 87.5%)

 

PRESIDENT & CEO SEMI KORPELA:

‘During the reporting period, the development of net sales continued to grow and earnings improved compared to January–March 2014. During the first quarter, Biohit Oyj focused on expanding its international distributor network and supporting existing partners, for example by promoting product registrations and in business operations. In addition, we have focused on the development of domestic sales services as well as the commercialization of our newest products.

In Finland, we signed a distribution agreement with Oriola which covers Acetium® products; the agreement is effective after a transition period (first half of 2015) and will replace the previous distribution agreement. Oriola Oy acquires exclusive rights to the distribution of Acetium® capsule and Acetium® lozenge in Finland. During the reporting period we signed a distribution agreement with Akeso Pharmaceuticals. As a result of this agreement, Akeso acquired exclusive rights to the distribution of Acetium® capsules throughout the Russian Federation.

In March, Biohit Oyj and Gulf Drug LCC signed a distributor agreement regarding Biohit’s diagnostic tests. By this agreement, Gulf Drug acquired exclusive rights to the distribution of these tests in the United Arab Emirates. The agreement covers the following Biohit tests: GastroPanel®, Helicobacter Pylori UFT300 Quick Test, Biohit Active B12 vitamin test, ColonView Quick Test, Lactose Intolerance Quick Test (LIQT) and Celiac Disease Quick Test (CDQT). During the reporting period we also signed a distribution agreement with Gulf Orlando Medical regarding diagnostic tests in Kuwait and also an agreement with PT InoDia regarding quick tests in Indonesia.

The Association for Finnish Work granted Acetium capsules and Acetium lozenges the Key Flag symbol, which signifies that the products are manufactured in Finland. In terms of diagnostics, Biohit offers tests for digestional diseases through pharmacy campaigns all over Finland. The Ympyrätalo Pharmacy offers similar tests for its clients as a part of its permanent base range.

We introduced Biohit Quick Test Reader during the reporting period, which allows for the reliable use of Biohit ColonView Quick Test and Biohit Celiac Disease Quick Test. The published research results related to acetaldehyde and cancer screening underlined the importance of our offering as part of socially important prevention of major diseases and early diagnosis and thereby saving costs.’

 

CONSOLIDATED KEY FIGURES

  1–3/2015 1–3/2014 1–12/2014
Net sales (MEUR) 1.2 0.9 4.4
Operating profit/loss,
continuing operations (MEUR)
-1.0 -1.2 -4.5
Profit/loss before taxes (MEUR) -0.9 -1.0 -4.3
Profit/loss for the period, continuing operations (MEUR) -0.9 -1.0 -4.4
Profit/loss for the period,
discontinued operations (MEUR)
  3.3 3.3
Profit/loss for the period, total (MEUR) -0.9 2.2 -1.2
Average number of personnel 49 46 50
Number of personnel at end of the period 51 47 51
Equity ratio (%) 88.0% 94.4% 87.5%
Earnings per share,
continuing operations (EUR)
-0.07 -0.07 -0.32
Undiluted earnings per share,
discontinued operations (EUR)
  0.24 0.23
Shareholders’ equity per share (EUR) 0.84 1.81 0.90
Average number of shares during the period 14,136,942 13,812,426 13,941,286
Number of shares at end of the period 14,220,593 13 825,593 14,135,593

 

REPORTING

Biohit's product portfolio consists of diagnostic tests, acetaldehyde-binding products and monoclonal antibodies. The entire product portfolio is reported under a single segment.


NET SALES AND RESULT

January-March

Net sales grew by 28.2% compared with 1–3/2014.

The operating loss from continuing operations was EUR -1.0 million (EUR -1.2 million 1–3/2014). The result for continuing operations during the reporting period totalled EUR -0.9 million (EUR -1.0 million).

The result for discontinued operations during the reporting period totalled EUR 0.0 million (EUR 3.3 million). In conjunction with the divestment of the liquid handling business in late 2011, EUR 3.5 million of the gains on the sale were not recognized due to the terms of the sale agreement and to other, related factors that remained open at the time. The amount was recognized on 31 March 2014, when the deal was closed.

The result for the reporting period totalled EUR -0.9 million (EUR 2.2 million).
 

Consolidated net sales and result for continued operations

  1-3/2015 1-3/2014 Change 1-12/2014
Net sales (MEUR) 1.2 0.9 0.3 4.4
Change compared with the previous year (%) 28.2%      
Operating result,
continuing operations (MEUR)
-1.0 -1.2 0.2 -4.5
Change compared with the previous year (%) 13.2%      
Operating result (% of net sales) -83% -123%   -103%

 

BALANCE SHEET

On 31 March 2015, the balance sheet total was EUR 13.6 million (31 December 2014 EUR 14.5 million), and the equity ratio was 88.0% (31 December 2014 87.5%).


FINANCING

Biohit Oyj enjoys a strong financial position, which allows determined investments in an international distributor network as well as the development and commercialization of new products.

At the end of the reporting period, the company's financial assets totalled EUR 9.1 million (31 December 2014 EUR 10.4 million).


RESEARCH AND DEVELOPMENT

R&D operations were again focused on innovations, as well as product development and improved usability. Biohit also employs external experts and subcontractors in its R&D operations. Development expenditure on the diagnostics business has not been capitalized. Research and development expenditure during the 1–3/2015 reporting period amounted to EUR 0.5 million (EUR 0.5 million).

In Finland, there is still an ongoing research project on smoking cessation (with the Acetium lozenge as the research product), and two research projects on preventing migraine-type headache episodes (with the Acetium capsule as the research product)

The development of the new standardized GastroPanel test is nearing its final stages, and the new test requires clinical confirmatory examinations (validation). The research plan is ready and one of the confirmed executors is the Oulu University Hospital.

Acetium capsules’ Acetaldehyde-binding properties have been studied in trials conducted in Japan and Sweden, both of which have confirmed the previous scientific results of Acetium. The studies showed that Acetium binds the Group I carcinogenic acetaldehyde by 60–80% and creates a harmless MTCA compound. The scientific report of the Japanese trials was published in April in a well-respected PLOS ONE publication. The equivalent Swedish report has also been completed and is currently under review by the research team members.

At the turn of the year, preparations were being made for a comparative ColonView trial involving a sample of 300 patients, in addition to which a screening trial is being implemented based on a population sample of 1,000 people. The comparative trial has been completed and the scientific report on the study has been accepted for publication by the international cancer journal, Anticancer Research.


INVESTMENTS

Gross investments during the reporting period totalled EUR 0.1 million (EUR 0.1 million).


PERSONNEL

During the reporting period, the average number of personnel employed by the Group was 49 (46) of whom 41 (38) were employed by the parent company and 8 (8) by its subsidiaries.


SHORT-TERM RISKS AND UNCERTAINTY FACTORS

Biohit’s key risks have to do with the investments required for business growth. There are risks involved in areas such as the success of clinical trials, new market areas, the selection and development of distribution channels, personnel recruitment, registration processes, product pricing, and political decision-making affecting the progress of screening programmes. Significant short-term risks are associated with the selection of new market areas, the timing of expansion into selected markets and product success in these markets. The recent increase in uncertainty factors associated with international politics may have an unfavourable impact on the company's business.

The duration of the product registration process is different in each market area. For this reason, it is not possible to accurately assess the time it takes the authorities to handle registrations in these areas and for product sales to begin.

When investing liquid assets, the objective is to gain a return on investment with a minimum risk of equity loss. The investment portfolio consists of deposits, money market investments and corporate loans. A fundamental aspect of portfolio management is sufficient diversification across different asset classes, investment instruments and counterparties. Biohit conducts its investment activities with at least two partners.

Thanks to its wide customer base, Biohit does not materially depend on any individual customers or project deliveries, with the exception of GastroPanel sales in China, which currently represents a major business for Biohit. Most of the company’s business is conducted in euros.


MAIN EVENTS IN THE FIRST QUARTER

Biohit and Ympyrätalo Pharmacy to co-operation

Biohit Oyj and Ympyrätalo Pharmacy (Helsinki, Finland) agreed in January to co-operate, and in this way Ympyrätalo Pharmacy will offer diagnostic tests by Biohit to its customers. Co-operation covers Biohit’s tests for diagnosis of digestional diseases. Ympyrätalo Pharmacy provides nursing services and the tests as a part of its permanent base range.


Biohit Oyj and Akeso to sign an Acetium distribution agreement in Russia

Biohit Oyj signed a distribution agreement with Akeso Pharmaceuticals. The agreement became effective immediately, and Akeso acquired the exclusive rights to the distribution of Acetium® capsules in Russian Federation.


BIOHIT ColonView is the best colorectal cancer screening test on the market

An international study comparing colorectal cancer screening tests has been completed, and the scientific report has been accepted for publication in an international cancer journal - Anticancer Research.
 

Biohit and Oriola to distribution agreement

Biohit Oyj signed a distribution agreement with Oriola Oy. The agreement is effective after a transition period (first half of 2015), and will replace the previous distribution agreement in Finland. With the agreement, Oriola acquires exclusive rights to the distribution of Acetium® capsules and Acetium® lozenges in Finland.


Biohit and Gulf Drug to sign a distributor agreement

Biohit Oyj and Gulf Drug LCC signed a distributor agreement regarding the diagnostic tests of Biohit. The agreement came into force immediately, and Gulf Drug acquired exclusive rights to the distribution of these tests in the United Arab Emirates. The agreement covers the following Biohit tests: GastroPanel®, Helicobacter Pylori UFT300 Quick Test, Biohit Active B12 vitamin test, ColonView Quick Test, Lactose Intolerance Quick Test and Celiac Disease Quick Test.

 

MAJOR EVENTS AFTER THE END OF THE REPORTING PERIOD


Effortless accuracy with Biohit Quick Test Reader

After the reporting period Biohit released an accurate and easy-to-use Biohit Quick Test Reader that allows effective use of Biohit ColonView Quick Test and Biohit Celiac Disease Quick Test in point-of-care setting. The Quick test reader is especially suitable for mobile units due to its robust construction and non-dependency on electricity supply (it has rechargeable batteries). The reader has a data storage capacity on a memory card, and is compliant with most hospital and laboratory information systems (HIS/LIS).


Acetaldehyde – a major pathophysiologic factor in gastric carcinogenesis
The results of the collaborative Japanese–Finnish study have been published in PLOS ONE journal

Stomach cancer is the third leading cause of cancer death in both sexes worldwide (723,000 deaths/year, 8.8% of the total). The highest estimated mortality rates are in Eastern Asia. In a collaborative Japanese–Finnish study, it was demonstrated for the first time that a genetic deficiency (ALDH2-deficiency) in eliminating acetaldehyde results in markedly increased (5.6-fold) exposure of the gastric mucosa to carcinogenic acetaldehyde after the intragastric administration of alcohol. Furthermore, Biohit’s Acetium capsules (100mg x 2) eliminated 60% of acetaldehyde formed from alcohol and the effect of capsules continued for the whole follow-up period of two hours.


The Key Flag symbol is granted to Acetium capsules and Acetium lozenges

The Association for Finnish Work granted the Key Flag symbol to Acetium capsules and Acetium lozenges, which shows that the products are manufactured in Finland.


Mekalasi Oy to distribute Biohit Quick Tests in Finland

Biohit Oyj and Mekalasi Oy have signed a distributor agreement regarding the Quick Tests of Biohit. The agreement came into force immediately.


Annual General Meeting

Biohit Oyj's Annual General Meeting (AGM) took place on Monday 20 April 2015. The AGM adopted the parent company's financial statements and the consolidated financial statements for 2014, and discharged the members of the Board of Directors and the Chief Executive Officer from liability.

Dividend pay-out

As proposed by the Board of Directors, the AGM decided that the loss for the financial period ending on 31.12.2014 be recorded in the profit and loss account, and that no dividend be paid for the financial year. The loss of EUR 550,514.94 of the financial year 2014 will be transferred to the profit and loss account of previous financial years.

Members of the Board of Directors

The AGM decided unanimously that the number of members of the Board of Directors would be six (6), and elected the following members to the Board until the end of the next AGM: Professor Osmo Suovaniemi, Professor Mikko Salaspuro, Commercial Counsellor Eero Lehti, Seppo Luode, MSc.Eng. and Managing Director Franco Aiolfi and as a new member, Janina Andersson, M.P.S.  It was unanimously resolved by the AGM that the Chairman of the Board of Directors be paid a remuneration fee of €1,600 per meeting and that the ordinary members would be paid a remuneration fee of €1,500 per meeting. Biohit Oyj’s Board of Directors elected Mr. Osmo Suovaniemi as the Chairman of the Board of Directors in the constitutive meeting.

Election of the auditor

Authorised public accountants PricewaterhouseCoopers Oy were elected as Biohit Oyj's auditors, with Authorised Public Accountant Pasi Karppinen as chief auditor for a term expiring at the end of the next AGM.

Amendment to the Articles of Association

The AGM resolved that the Articles of Association be amended so that the paragraph 13 is removed. 

All decisions taken at the shareholder meeting were unanimous. The minutes of the AGM are available to shareholders on the company's website at www.biohithealthcare.com/investors.


European Parliament urges the Commission to immediately ask the European Food Safety Authority (EFSA) to re-evaluate the use of acetaldehyde

In the European Parliament Motion for a resolution on Alcohol Strategy (2015/2543(RSP)), it is concluded that food is to be deemed unsafe if it is considered to be injurious to health (Regulation (EC) No 178/2002 of 28 January 2002).

European Parliament urges the Commission to immediately ask the European Food Safety Authority (EFSA) to re-evaluate the use of acetaldehyde as a flavouring substance in alcoholic and non-alcoholic beverages.



SHARES AND SHAREHOLDERS

Biohit Oyj’s number of shares is 14,220,593, of which 2,975,500 (2,975,500) are Series A shares and 11,245,093 (11,160,193) are Series B shares. The Series B shares are quoted on NASDAQ Helsinki in the Small cap/Healthcare group under the code BIOBV.

Supposing that the market capitalization for series A and B shares is equal, the total market capitalization at the end of the period was EUR 79.1 million (EUR 102.3 million). The shares’ trade value during the period amounted to EUR 8.1 million.

BIOBV/NASDAQ OMX Helsinki 1–3/2015 1–3/2014
High, EUR 7.14 8.17
Low, EUR 4.58 5.42
Average, EUR 5.88 6.68
Closing price, EUR 5.56 7.40
Total turnover, EUR 8 087 561 9 513 566
Total turnover, no. of shares 1 347 966 1 424 013


Shareholders

At the end of the reporting period on 31 March 2015, the company had 6,826 shareholders (6,442 on 31 March 2014). Private households held 78.2% (78.0%), companies 20.0% (20.2%) and public sector organizations 0.0% (0.0%). Foreign ownership or nominee registrations accounted for 1.7% (1.7%) of shares.

Further information on the shares, major shareholders and management shareholdings is available on the company's website at www.biohithealthcare.com/investors.


ACCOUNTING PRINCIPLES

This interim report has been prepared in accordance with the requirements of the IAS 34 standard.

All business operations are presented as one segment. Biohit Oyj has applied the same accounting principles in preparing this interim report as in its financial statements of 2014.

The IFRS standards or standard interpretations that came into effect in 2015 did not have a material impact on the accounting principles. On 1 January 2014, Biohit Oyj introduced the standards IFRS10 Consolidated Financial Statements and IFRS11 Joint Arrangements. The introduction of the standards had an impact on the accounting of Biohit’s Chinese joint venture, Biohit Biotech (Hefei) Co. Ltd. The new IFRS 10 standard was not fulfilled on the closing dates of 31 March 2015 in the way referred to in the standard and the shareholders’ agreement, and the investment is not, therefore, presented in the balance sheet drawn up according to the new standards.

The management estimates that the joint control referred to in IFRS 10 and in the shareholders’ agreement will be achieved during 2015. From that point on, the joint venture will be consolidated in Biohit’s consolidated financial statements using the equity method.

All the figures in the interim report have been rounded up or down, due to which the sums of figures may deviate from the sum total presented.

Figures of the reporting period are unaudited.


CONSOLIDATED INCOME STATEMENT

MEUR 1–3/2015 1–3/2014 Change 1–12/2014
Net sales 1.2 0.9 0.3 4.4
Acquisition and production expenses -0.4 -0.4 -0.1 -1.9
Gross margin 0.7 0.6 0.2 2.4
Other operating income 0.0 0.1 -0.1 0.2
Sales and marketing expenses -0.6 -0.5 -0.1 -2.1
Administrative expenses -0.7 -0.9 0.3 -3.1
Production and development expenses -0.5 -0.5 -0.1 -2.1
Operating profit/loss, continuing operations -1.0 -1.2 0.2 -4.5
Financial income 0.1 0.2 0.0 0.3
Financial expenses 0.0 0.0 0.0 -0.1
Profit/loss before taxes -0.9 -1.0 0.1 -4.3
Income taxes 0.0 0.0 0.0 -0.1
Income for the period,
continuing operations
-0.9 -1.0 0.1 -4.4
Income for the period,
discontinued operations
  3.3 -3.3 3.3
Income for the period, total -0.9 2.2 -3.2 -1.2
Available-for-sale financial assets -0.1 0.0 -0.1 0.1
Translation differences 0.0 0.0 0.0 0.0
Other comprehensive income which can be reclassified to profit or loss in subsequent periods, total -0.1 0.0 -0.1 0.1
Total comprehensive income for the period -1.0 2.3 -3.3 -1.1

 

Earnings per share calculated from earnings attributable to equity holders of the parent company

  1–3/2015 1–3/2014 1–12/2014
Undiluted earnings per share,
continuing operations (EUR)
-0.07 -0.07 -0.32
Undiluted earnings per share,
discontinued operations (EUR)
  0.24 0.23
Diluted earnings per share,
discontinued operations (EUR)
  0.23 0.22

 

CONSOLIDATED BALANCE SHEET

MEUR 31.3.2015 31.3.2014 31.12.2014
ASSETS      
NON-CURRENT ASSETS      
Intangible assets 1.6 1.7 1.6
Tangible assets 0.9 0.5 0.9
Other financial long-term assets 0.0 0.0 0.0
Deferred tax assets 0.0 0.0 0.0
Total non-current assets 2.6 2.2 2.5
       
CURRENT ASSETS      
Inventories 0.9 0.7 0.8
Trade and other receivables 1.1 0.8 0.8
Other financial short-term assets 8.4 15.4 9.8
Cash and cash equivalents 0.7 7.4 0.6
Total current assets 11.1 24.2 12.0
       
TOTAL ASSETS 13.6 26.5 14.5
       
SHAREHOLDERS' EQUITY AND LIABILITIES      
Share capital 2.4 2.4 2.4
Invested unrestricted equity fund 2.1 3.0 1.9
Translation differences 0.0 0.0 0.0
Retained earnings 7.6 19.6 8.4
Total equity 12.0 25.0 12.7
       
NON-CURRENT LIABILITIES      
Deferred tax liabilities 0.2 0.2 0.2
Other liabilities 0.0 0.0 0.0
Total non-current liabilities 0.2 0.2 0.2
       
CURRENT LIABILITIES      
Trade payables 0.5 0.3 0.5
Total interest-bearing liabilities 0.1 0.3 0.3
Tax liabilities 0.0 0.1 0.1
Other liabilities 0.7 0.7 0.8
Total current liabilities 1.4 1.2 1.6
       
Total liabilities 1.6 1.5 1.8
       
TOTAL EQUITY AND LIABILITIES 13.6 26.5 14.5

 

STATEMENT OF CHANGES IN EQUITY

Consolidated statement of changes in equity on 31 March 2015

MEUR Share capital Translation differences Invested unrestricted equity fund Retained earnings Shareholders' equity
Shareholders' equity
1 Jan 2015
2.4 0.0 1.9 8.4 12.7
Share-based payments       0.1 0.1
Exercise of share options     0.2   0.2
Total comprehensive income for the period   0.0   -1.0 -1.0
Shareholders' equity
31 Mar 2015
2.4 0.0 2.1 7.6 12.0

 

Consolidated statement of changes in equity on 31 March 2014

MEUR Share capital Translation differences Invested unrestricted equity fund Retained earnings Shareholders' equity
Shareholders' equity 1 Jan 2014 2.3 0.0 2.8 17.3 22.5
Share-based payments     0.2   0.2
Exercise of share options 0.0   0.0   0.0
Total comprehensive income
for the period
      2.3 2.3
Shareholders' equity
March 31, 2014
2.4 0.0 3.0 19.6 25.0

 

CASH FLOW STATEMENT

MEUR 1–3/2015 1–3/2014 1–12/2014
CASH FLOW FROM OPERATING ACTIVITIES      
Profit for the period -0.9 2.2 -1.2
Adjustments 0.1 -3.1 -2.5
       
Change in working capital -0.4 0.1 0.2
Interest paid and payments on other operating financial expenses 0.0 0.0 0.0
Interest received 0.1 0.2 0.2
Realised exchange rate gains and losses 0.0 0.0 0.0
Income taxes paid 0.0 0.0 -0.1
Net cash flow from operating activities -1.1 -0.6 -3.4
       
CASH FLOW FROM INVESTMENTS      
Investments in tangible and intangible assets -0.1 -0.1 -0.4
Revenue from disposal of tangible and intangible assets   0.0 0.0
Capital gain from the sale of liquid handling business   6.8 6.8
Net investments in funds and deposits 1.3 0.9 6.5
Net cash flow from investments 1.2 7.6 12.9
       
CASH FLOW FROM FINANCING ACTIVITIES      
Rights issue 0.2 0.0 0.8
Dividend pay-out   0.0 -10.0
Repayment of capital      
Repayment of loans -0.1 -0.1 -0.1
Net cash flow from financing activities 0.1 -0.1 -9.4
       
Increase (+)/decrease (-) in cash and cash equivalents 0.1 6.9 0.1
Cash and cash equivalents at the beginning of the period 0.6 0.5 0.5
Effect of exchange rates on cash and cash equivalents 0.0 0.0 0.0
Cash and cash equivalents at the end of the period 0.7 7.4 0.6

 

RELATED PARTY TRANSACTIONS

Biohit Oyj B-shares Subscribed with Stock Options II 2013 during the reporting period 1-3/2015

A total number of 85,000 new Biohit Oyj B-shares have been subscribed for with stock options II 2013 during January 28th, 2015 and March 10th, 2015. These shares have been entered into the trade register on March 31st, 2015, as of which date the new shares will establish equal shareholder rights with the company's existing B-shares. Public trading is expected to begin on NASDAQ OMX Helsinki as of April 1st, 2015 together with the existing B-shares.

The share subscription price was EUR 2.2766 per share respectively. The entire subscription price of EUR 193,511 will be credited to the reserve for invested non-restricted equity, and the company share capital remains unchanged. The shares have no nominal value.

After the subscription, the number of all Biohit Oyj's shares will rise to 14,220,593 (14,135,593, December 31st, 2014) and the number of B-shares will rise to 11,245,093 (11,160,093, December 31, 2014). The new shares will correspond to a percentage of 0.6% of Biohit Oyj's total number of shares and 0.12% of the voting rights after registration.

The share subscription period with stock options II 2013 began on July 1st, 2013 and will end on June 30th, 2015. The option schemes are based on the Biohit Oyj board resolution of June 19th, 2013 and the Annual General Meeting authorization of April 14th, 2014. The terms and conditions of the option schemes with additional information are available on Biohit Oyj website at www.biohithealthcare.com.


COLLATERAL, CONTINGENT LIABILITIES, AND OTHER COMMITMENTS

  1–3/2015 1–3/2014 1–12/2014
       
Collateral granted on behalf of the parent company      
Corporate mortgages 0.0 0.0 0.0
       
Collateral granted on behalf of the subsidiaries      
Guarantees 0.0 0.0 0.0
       
Other liabilities      
Leasing commitments      
Due for payment in less than one year 0.1 0.1 0.1
Due for payment in more than one year but less than five years 0.1 0.0 0.1
Due for payment in more than five years 0.0 0.0 0.0
Total 0.3 0.1 0.2
       
Other rental commitments      
Due for payment in less than one year 0.2 0.3 0.2
Due for payment in more than one year but less than five years 0.7 0.3 0.7
Due for payment in more than five years 0.0 0.0 0.1
Total 0.9 0.5 1.0
Other liabilities. total 1.2 0.7 1.2
       
Commitments and contingencies. total 1.2 0.7 1.2

 

NEXT FINANCIAL REPORT

The interim report for January–June 2015 (Q2) will be published on Thursday, 20th August 2015, at 9:30 am.


Helsinki, 7 May 2015

Biohit Oyj
Board of Directors


Additional information: 
CEO Semi Korpela, Biohit Oyj
tel. +358 9 773 861
investor.relations@biohit.fi
www.biohithealthcare.com
 


Biohit in brief

Biohit Oyj is a globally operating Finnish biotechnology company. Biohit’s mission is “Innovating for Health” – we produce innovative products and services to promote research and early diagnosis. Biohit is headquartered in Helsinki, Finland, and has subsidiaries in Italy and the UK. Biohit's Series B share (BIOBV) is quoted on Nasdaq Helsinki in the Small cap/Healthcare group. www.biohithealthcare.com

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