BioNTech SE(BNTX)2023-03-26 16:00Financial Performance - Total revenues for the year ended December 31, 2022, were €17,310.6 million, a decrease of 8.8% compared to €18,976.7 million for the prior year[8]. - Net profit for the year ended December 31, 2022, was €9,434.4 million, down 8.3% from €10,292.5 million in the previous year[16]. - Total revenues for Q4 2022 were €4,278.3 million, a decrease of 22.7% compared to €5,532.5 million in Q4 2021[60]. - Commercial revenues decreased to €4,271.3 million in Q4 2022 from €5,525.9 million in Q4 2021, representing a decline of 22.7%[60]. - Profit for the period in Q4 2022 was €2,278.7 million, down from €3,166.2 million in Q4 2021, a decrease of 28.1%[60]. - Basic profit for the period per share was €9.38 in Q4 2022, compared to €12.96 in Q4 2021, a decline of 27.5%[60]. - Full year 2022 revenues reached €17.3 billion, with a net profit of €9.4 billion and fully diluted earnings per share of €37.77[65]. Research and Development - BioNTech plans to continue investing heavily in R&D and is open to mergers and acquisitions to drive future growth[4]. - Research and development expenses increased to €509.8 million in Q4 2022, up from €271.5 million in Q4 2021, reflecting an increase of 87.7%[60]. - The company expanded its oncology pipeline to 20 programs with 24 ongoing clinical trials, including five randomized Phase 2 trials[65]. - Estimated R&D expenses for 2023 are projected to be between €2,400 million and €2,600 million[70]. - BioNTech initiated multiple clinical trials in 2022, including programs for non-small cell lung cancer and a herpes simplex virus vaccine candidate[27][24]. - BioNTech plans to start a Phase 3 trial of ONC-392 in NSCLC patients in 2023, following an exclusive licensing agreement with OncoC4, Inc.[39]. - The company announced a licensing agreement with OncoC4 to enhance its oncology portfolio, with a Phase 3 trial planned for 2023[65]. Vaccine Development and Sales - BioNTech expects COVID-19 vaccine revenues for the 2023 financial year to be approximately €5 billion[11]. - BioNTech and Pfizer invoiced approximately 2 billion doses of the COMIRNATY vaccine globally in 2022, including around 550 million doses of the adapted bivalent vaccine[19]. - The company launched the world's first Omicron BA.4/BA.5 adapted bivalent COVID-19 vaccine in 2022 and progressed nine new programs into clinical trials[1]. - Approximately 2 billion doses of COMIRNATY were invoiced in 2022, including around 550 million doses of Omicron-adapted bivalent COVID-19 vaccines[65]. Financial Position - Total assets increased to €23,279.1 million as of December 31, 2022, from €15,830.8 million as of December 31, 2021, an increase of 47.0%[50]. - Total current assets rose to €21,922.0 million in 2022 from €15,072.3 million in 2021, an increase of 45.0%[50]. - Total equity increased to €20,055.6 million in 2022 from €11,893.7 million in 2021, representing an increase of 68.5%[50]. - Cash and cash equivalents significantly increased to €13,875.1 million in 2022 from €1,692.7 million in 2021, a rise of 718.5%[50]. - Total liabilities decreased to €32,223.5 million in 2022 from €39,371.1 million in 2021, a reduction of 18.2%[50]. - Net cash flows from operating activities for the year were €13,577.4 million, compared to €889.7 million in the previous year[63]. Expenses - The cost of sales for the year ended December 31, 2022, was €2,995.0 million, a slight increase of 2.9% from €2,911.5 million in the prior year[2]. - General and administrative expenses for the year ended December 31, 2022, were €484.7 million, an increase of 69.5% from €285.8 million in the prior year[9]. - Research and development expenses for Q4 2022 were €509.8 million, compared to €271.5 million in the same period last year, reflecting an increase of 87.7%[67]. Strategic Initiatives - BioNTech's acquisition of InstaDeep Ltd. is expected to add approximately 240 skilled professionals to its workforce, enhancing capabilities in AI and machine learning[39]. - BioNTech's share repurchase program authorized up to 1.3 billion spent to repurchase 9,166,684 ADSs at an average price of $142.04[38]. - BioNTech's ESG report for 2022 was published on March 27, 2023, detailing the company's sustainability efforts[40]. - The first six ISO-sized shipping containers for the BioNTainer were completed and shipped to Kigali in March 2023[39]. - BioNTech completed the construction of its first proprietary plasmid DNA manufacturing facility in Marburg in February 2023[39].