BioNTech reported sales and profits for the first quarter more than tripled due to strong demand for the coronavirus vaccine it developed with Pfizer, but the German company confirmed its forecast for a drop in vaccine sales for the full year.
Revenues in the first quarter more than tripled from the previous year, to 6.37 billion euros, as well as profits in the quarter, to 3.70 billion euros.
“As a result of increased order volumes that were initially placed at the end of 2021 after the appearance of Omicron, we started 2022 with strong revenues and profits, leaving us in a good position to achieve the financial goals of 2022,” said Chief Financial Officer Jens Holstein.
BioNTech restated vaccine revenue in 2022 to € 13-17 billion, down from € 19 billion a year ago, suggesting a drop for the rest of the year.
As in previous quarters, BioNTech based its estimates only on fixed orders for the year, which were unchanged at 2.4 billion installments compared to the March 30 estimate, lower than the 2.6 billion installments in 2021.
Source: Capital
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