German biotech firm BioNTech SE turned a profit in the second quarter versus the loss in 2020 as revenue surged by over 12,600%, the company announced in a statement.
- Profit for the quarter stood at €4.198 billion, up 5,289% from the €80.9-million loss the same quarter last year, while diluted earnings per share climbed to €11.42 from a €0.38 loss. Revenue surged 12,630% to €5.308 billion from €41.7 million.
- Growth was driven by the rapid increases in the supply of COVID-19 vaccines across the globe, in collaboration with Pfizer and Fosun Pharma.
- BioNTech expects additional revenues from further supply contracts for deliveries this year, with contracts already in place for 2022 and beyond. Full-year manufacturing capacity is targeted at 3 billion in 2021 and up to 4 billion in 2022.
- Capital expenditures are expected to fall between €175 million to €225 million. Research and development expenses are likely to fall between €950 million to €1.05 billion with a ramp-up in investments set in the second half.
More than a billion doses of the company’s vaccine have been supplied to over 100 countries or territories as of July 21, 2021.
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