Biofrontera AG Issues H2 2013 Revenue Guidance; Issues FY 2014 Revenue Guidance In Line with Analysts Estimates; Announces Capital Increase Reserved for Maruho Deutschland GmbH
Biofrontera AG announced that it expects revenue to increase in the second half of fiscal year 2013 and in fiscal year 2014. The Company reported fiscal year 2012 revenue of EUR 3.43 million. According to I/B/E/S estimates, analysts on average are expecting the Company to report fiscal year 2013 revenue of EUR 6.33 million and fiscal year 2014 revenue of EUR 11.9 million. In March 2013 Maruho Deutschland GmbH, a subsidiary of the Japanese dermatology company, was admitted to subscription of 1.61 million new shares of Biofrontera AG. This generated net cash proceeds for the Company of about EUR 7,535,000 Following this event total assets in the balance sheet increased significantly to EUR 13,227,000 on June 30, 2013 compared to EUR 9,035,000 on December 31, 2012.
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