Biofrontera increases sales in the first half of the year by 16 percent to 16.1 million euros. The operating result improved from -12.9 million euros to -4.3 million euros. Before taxes, a loss of 5.23 million euros (previous year: +9.03 million euros) is generated.
CEO Hermann Lübbert speaks of a challenging market situation, also due to the pandemic and mixed business development: “For the second half of the year we expect a recovery in sales, together with the decline in the number of infections and a certain normalization of the economic situation in the USA. Overall, we are therefore sticking to our sales forecast for 2020. The successful placement of the mandatory convertible bond in August gives us the opportunity to make urgently needed investments in our sales and marketing activities. “
In the current year, Biofrontera is aiming for sales of EUR 34 million to EUR 38 million. The available liquid funds are currently considered sufficient.