Biofrontera AG: ADJUSTMENT OF THE FORECAST FOR THE FINANCIAL YEAR 2024

Leverkusen (pta032/28.11.2024/18:13) - "As announced with ad -hoc release dated 21 July 2024, the Company has to adjust its forecast for the financial year 2024, published on 30 April 2024, and updated in H1 report, as provisions due to a lawsuit filed by a US competitor need to be formed. The provisions need to cover all the legal expenditure for the entire processes, that will last between two to three years.

The competitor filed two different processes, one for two patent infringements in front of the district court, and a second one before the ITC (International Trade Commission), aiming to prohibit the import in the USA of Biofrontera XL Lamp (see ad hoc release dated 21 July 2024 for further information)

The forecast remains unchanged with regard to the revenues (EUR 20 to 23 million) and with regards the cash position at the end of the year (EUR 1 to 3 Million). However, the forecasted EBITDA is adjusted from so far between EUR -2 and 0 to EUR -4,5 to -2,5. Furthermore the forecast is amended with respect to the EBIT from originally between EUR -3 million to -1 to EUR -5,5 to -3,5 million. "

(Ende)