BioNTech vaccine revenue expected to drop sharply

German biotech firm BioNTech has announced its financial results for October-December 2022 and this year.

Consequently, the company’s net profit in the last quarter of 2022 decreased by 28 percent compared to the same period of the previous year, to 2.28 billion euros.

BioNTech reported a profit of 3.16 billion euros in October-December 2021.

The company’s revenue decreased by 22 percent in the last quarter compared to the same period in 2021, to 4.3 billion euros. BioNTech had revenue of €5.53 billion in the last quarter of 2021.

The net profit of the company in 2022, for its part, fell to 9,400 million euros due to the decrease in its net result. BioNTech reported a profit of 10.3 billion euros in 2021.

19 BILLION EUROS IN 2021, 17 BILLION EUROS IN 2022

BioNTech’s total revenue fell from €18.97 billion in 2021 to €17.31 billion last year, while earnings per share fell from €39.63 to €37.77.

BioNTech sold 2 billion doses of covid-19 vaccines last year, of which 550 million were adapted for the Omicron variant.

The company, which predicts that revenue from covid-19 vaccines will decline by 70% to about €5 billion by 2023, had revenue of €19 billion in 2021 and €17 billion in 2022, mainly for coronavirus vaccines.

The company’s R&D expenditures, which were €1.54 billion last year, will rise to €2.6 billion this year.

BioNTech, which has repurchased $1.3 billion worth of shares as of March 17, also announced that it plans to repurchase up to $500 million this year. (AA)