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Highlights:
- BioNTech (BNTX) reported first-quarter FY-2022 revenues of €6.4 billion (US$6.7 billion).
- The net income for the first quarter of 2022 for BioNTech remained at €3.7 billion (US$3.9 billion).
- BioNTech confirms its COVID-19 2022 vaccine revenue guidance of €13 billion (US$13.7 billion) to €17 billion (US$17.9 billion).
German pharma major BioNTech SE (NASDAQ:BNTX) posted first-quarter revenue of €6.4 billion (US$6.74 billion) for fiscal 2022, capitalizing on the robust sales of its COVID-19 vaccine.
Its revenue for the year-ago quarter was €2.05 billion (US$2.1 billion).
Its Covid vaccine sales tripled in the reported quarter, driving BioNTech’s net income to €3.7 billion (US$3.90 billion). In the year-ago quarter, net income was €1.3 billion (US$1.37 bn).
BioNTech CFO Jens Holstein said that the company began 2022 with strong revenues and earnings due to a spurt in order volume placed in late 2021.
The rising Omicron concern toward the end of last year led to increased demand for its Covid-19 vaccine. “We are now well-positioned to achieve the 2022 financial guidance we issued a few months ago,” said Holstein.
BioNTech still reiterates its 2022 vaccine revenue guidance of 13 billion euros (US$13.7 billion) to 17 billion euros (US$17.9 billion), down from 19 billion euros (US$20 billion) in 2021. It implies a decline for the rest of the year.
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Plunging demand for COVID vaccines
The slowdown in demand for COVID vaccines might impact BioNTech's revenue in the subsequent quarters. There is already a weakening in vaccine demand in North America and Europe.
Most of the population has been inoculated with three shots and only a small section comprising the vulnerable seniors is recommended for additional shots.
So, the demand for its vaccines will be from middle to low-income nations. China has already rejected BioNTech’s vaccines despite the company’s contract with Shanghai Fosun Pharmaceutical.
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BioNTech has a market cap of US$35.9 billion, a P/E ratio of 3.11, and a forward one-year P/E ratio of 3.94. Its EPS is US$46.76.
The 52-week highest and lowest stock prices were US$464.00 and US$121.32, respectively. Its trading volume was 1,403,993 on May 6.
Bottom line:
BioNTech's COVID-19 vaccine manufactured in collaboration with Pfizer has received several regulatory approvals. It has also been granted permission for booster and pediatric vaccinations.
