Mologen Confirms its Plans to Achieve a Positive EBIT in 2003

As outlined by Mologen Holding AG in its plan in 2000, it is planning to achieve a positive EBIT for the year 2003. The updated plan which is presented today makes provision — with Group sales to the tune of EUR 8.9 million — for an EBIT of EUR 0.5 million.

With sales planned at EUR 2.9 million, the results of the current year with an EBIT of EUR – 4.4 million are expected to be slightly up on the results of the previous year. The expenditure for research and development, which has again been increased and set at EUR 3.2 million, is the major cost item. The existing liquidity is sufficient to achieve these targets.

Burghardt Wittig, founder and CEO of Mologen Holding AG, stated in this context:

“While reviewing, updating and boosting our business plans, we have evaluated our project portfolio in light of the current market potential and deem it to hold out prospects for success. The outcome of this detailed business planning effectively confirms the targets that we have set ourselves”.

The following table gives an overview of the company’s planning:

Income statement (EUR million)	2002e	2003e	2004e	2005e
Sales	2,9	8,9	11,5	13,5
Expenditure	3,2	3,5	4,5	5,0
EBIT	-4,4	0,5	1,0	1,6
Equity	6,2	6,9	8,1	10

To our knowledge, of the biotechnology companies which are listed on the stock exchange and develop DNA-based drugs, Mologen would thus be the first to get into the black.

Mologen was listed in 1998 as one of the first German biotech companies on the stock exchange. Mologen develops and utilizes new gene-based technologies for preventing and curing diseases. The main focus of development is on the MIDGE technology, which has been patented by Mologen. This is the ideal tool for deploying genetic information safely and efficiently as a medicine.

contact: Mr. M. Reichel, phone: +49-30-857 576 0, e-mail: [email protected]