BioNTech Sees Vaccine Sales Push Q1 Revenues To €6.4 Billion
While many may view the pandemic as being over, the financial results of BioNTech (NASDAQ: BNTX) continue to say otherwise. The company continues to see its revenue rise on the back of vaccine sales.
BioNTech for the first quarter of 2022 reported total revenues of €6,374.6 million, versus the €2,048.4 million reported for the year ago period and the €5,532.5 million reported for the fourth quarter of 2021. The company indicated that the revenue was :mainly due to increased commercial revenues from the supply and sale of the Company’s COVID-19 vaccine worldwide.”
A significant portion of the revenue for the quarter, €4,586.9 million, was due to a gross profit share under a collaboration agreement currently in place with Pfizer and Fosun Pharma., where vaccines were sold in territories operated by the aforementioned firms. Direct sales by BioNTech meanwhile amounted to €1,163.1 million, which came from the firms territory on the vaccine. A further €603.2 million came from products manufactured by the company for collaboration partners.
“We believe the global deployment of our vaccine has likely saved millions of lives and had a significant impact on humanity. As a result of an increased order volume initially placed in late 2021 following the then emerging Omicron variant, we began the year 2022 with strong revenues and earnings, leaving us well-positioned to achieve the 2022 financial guidance we issued a few months ago,” said CFO Jens Holstein.
Cost of sales on that revenue meanwhile amounted to just €1,294.1 million. After a further €285.8 million in R&D expenses, €90.8 in general and administrative expenses, €14.3 million in sales and marketing expenses, along with other operating expenses of €71.6 million and other operating income of €134.7 million, the company posted an overall operating income of €4,752.7 million for the three month period.
After taxes, the company reported a profit for the period of €3,698.8 million, equating to a diluted earnings per share of €14.24.
While sales were strong for the quarter, BioNTech expects the party to continue, with the company guiding to COVID-19 vaccine revenues of €13 to €17 billion for the full fiscal year. In Q1, the company and Pfizer reportedly invoiced a total of 750 million vaccine doses, while orders for 2.4 billion to be supplied in 2022 have been signed as of the end of April.
R&D expenses meanwhile are estimated to be between €1.4 and 1.5 billion, while SG&A will be between €0.45 to €0.55 billion and capital expenditures between €0.45 and €0.55 billion.
Sales on the vaccine have also been robust enough that the firm has proposed a special dividend of €2.00 per ordinary share, based on shareholders as of April 30, 2022.
The company reported cash and cash equivalents of €6,164.1 million as of March 31, 2022.
BioNTech last traded at $136.17 on the Nasdaq.
Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
