BioNTech posted a net profit of 3.7 billion euros in the first quarter

German biotechnology firm BioNTech, based by Turkish scientists Özlem Türeci and Uğur Şahin, introduced its monetary outcomes for the first quarter of 2022.

Accordingly, the firm’s net profit in the first quarter elevated to 3.7 billion euros, with a sharp enhance in net earnings. BioNTech introduced a profit of 1.12 billion euros in the January-March interval of final 12 months.

Complete income elevated by 211 p.c

The corporate’s whole revenues elevated by 211 p.c in the first quarter in comparison with the identical interval of 2021, reaching 6 billion 374 million euros.

The expectation for BioNTech’s revenues in the markets was 4.01 billion euros. The corporate had a income of 2 billion 48 million euros in the first quarter of final 12 months.

The corporate’s earnings per share got here in at 14.24 euros, beating the expectation of 8.52 euros.

Firm raises vaccine income expectation

BioNTech has elevated its Covid-19 vaccine income estimate from 13 billion euros to 17 billion euros. The corporate had a whole income of 19 billion euros from the vaccine final 12 months.

BioNTech, along with its vaccine manufacturing associate Pfizer, introduced that it has signed agreements with greater than 100 nations for the distribution of 2.4 billion doses this 12 months and has invoiced a whole of 750 million doses of Kovid-19 vaccine by the finish of the first quarter.

The German firm had delivered 2.6 billion doses of vaccine in 2021.

BioNTech additionally introduced that in the coming weeks, laboratory knowledge on vaccine growth efforts for the Omicron variant of Kovid-19 shall be obtained.

In the meantime, BioNTech’s net profit in 2021 was 10.3 billion euros, pushed by elevated vaccine gross sales. It’s acknowledged that BioNTech’s vaccine gross sales of roughly 19 billion euros in 2021 contributed 0.5 share factors to Germany’s GDP.