Loading...

Biofrontera

XTRA:B8F
Snowflake Description

Excellent balance sheet with high growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
B8F
XTRA
€314M
Market Cap
  1. Home
  2. DE
  3. Pharmaceuticals & Biotech
Company description

Biofrontera AG, a biopharmaceutical company, engages in the development and commercialization pharmaceutical products for the treatment of dermatological conditions and diseases caused primarily by exposure to sunlight that result in sun damage to the skin. The last earnings update was 24 days ago. More info.


Add to Portfolio Compare Print
  • Biofrontera has significant price volatility in the past 3 months.
B8F Share Price and Events
7 Day Returns
5.5%
XTRA:B8F
3.3%
DE Biotechs
-0.6%
DE Market
1 Year Returns
26.8%
XTRA:B8F
-8.4%
DE Biotechs
-10.8%
DE Market
B8F Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Biofrontera (B8F) 5.5% 8.1% 25.4% 26.8% 140.8% 128.5%
DE Biotechs 3.3% 4.5% 1.2% -8.4% 55.3% 9.8%
DE Market -0.6% -3.3% 2.3% -10.8% 8% 8%
1 Year Return vs Industry and Market
  • B8F outperformed the Biotechs industry which returned -8.4% over the past year.
  • B8F outperformed the Market in Germany which returned -10.8% over the past year.
Price Volatility
B8F
Industry
5yr Volatility vs Market

B8F Value

 Is Biofrontera undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Biofrontera to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Biofrontera.

XTRA:B8F Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.9%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for XTRA:B8F
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Biotechs Unlevered Beta Simply Wall St/ S&P Global 1.38
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.384 (1 + (1- 30%) (4.33%))
1.285
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.29
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (1.285 * 5.96%)
7.89%

Discounted Cash Flow Calculation for XTRA:B8F using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Biofrontera is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

XTRA:B8F DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (EUR, Millions) Source Present Value
Discounted (@ 7.89%)
2019 -15.70 Analyst x1 -14.55
2020 -2.10 Analyst x1 -1.80
2021 9.50 Analyst x1 7.56
2022 26.20 Analyst x1 19.34
2023 43.20 Analyst x1 29.55
2024 58.05 Est @ 34.39% 36.81
2025 72.07 Est @ 24.14% 42.35
2026 84.29 Est @ 16.96% 45.92
2027 94.36 Est @ 11.94% 47.64
2028 102.32 Est @ 8.43% 47.88
Present value of next 10 years cash flows €260.71
XTRA:B8F DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= €102.32 × (1 + 0.23%) ÷ (7.89% – 0.23%)
€1,338.61
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= €1,338.61 ÷ (1 + 7.89%)10
€626.46
XTRA:B8F Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= €260.71 + €626.46
€887.16
Equity Value per Share
(EUR)
= Total value / Shares Outstanding
= €887.16 / 44.60
€19.89
XTRA:B8F Discount to Share Price
Calculation Result
Value per share (EUR) From above. €19.89
Current discount Discount to share price of €7.05
= -1 x (€7.05 - €19.89) / €19.89
64.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Biofrontera is available for.
Intrinsic value
>50%
Share price is €7.05 vs Future cash flow value of €19.89
Current Discount Checks
For Biofrontera to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Biofrontera's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Biofrontera's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Biofrontera's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Biofrontera's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
XTRA:B8F PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in EUR €-0.20
XTRA:B8F Share Price ** XTRA (2019-05-23) in EUR €7.05
Europe Biotechs Industry PE Ratio Median Figure of 29 Publicly-Listed Biotechs Companies 21.59x
Germany Market PE Ratio Median Figure of 422 Publicly-Listed Companies 20.28x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Biofrontera.

XTRA:B8F PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= XTRA:B8F Share Price ÷ EPS (both in EUR)

= 7.05 ÷ -0.20

-34.7x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Biofrontera is loss making, we can't compare its value to the Europe Biotechs industry average.
  • Biofrontera is loss making, we can't compare the value of its earnings to the Germany market.
Price based on expected Growth
Does Biofrontera's expected growth come at a high price?
Raw Data
XTRA:B8F PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -34.7x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
57.8%per year
Europe Biotechs Industry PEG Ratio Median Figure of 23 Publicly-Listed Biotechs Companies 1.27x
Germany Market PEG Ratio Median Figure of 271 Publicly-Listed Companies 1.51x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Biofrontera, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Biofrontera's assets?
Raw Data
XTRA:B8F PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in EUR €0.37
XTRA:B8F Share Price * XTRA (2019-05-23) in EUR €7.05
Germany Biotechs Industry PB Ratio Median Figure of 14 Publicly-Listed Biotechs Companies 3.36x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.78x
XTRA:B8F PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= XTRA:B8F Share Price ÷ Book Value per Share (both in EUR)

= 7.05 ÷ 0.37

19.24x

* Primary Listing of Biofrontera.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Biofrontera is overvalued based on assets compared to the DE Biotechs industry average.
X
Value checks
We assess Biofrontera's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Biotechs industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Biotechs industry average (and greater than 0)? (1 check)
  5. Biofrontera has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

B8F Future Performance

 How is Biofrontera expected to perform in the next 1 to 3 years based on estimates from 3 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
57.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Biofrontera expected to grow at an attractive rate?
  • Biofrontera's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Biofrontera's earnings growth is expected to exceed the Germany market average.
  • Biofrontera's revenue growth is expected to exceed the Germany market average.
Annual Growth Rates Comparison
Raw Data
XTRA:B8F Future Growth Rates Data Sources
Data Point Source Value (per year)
XTRA:B8F Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 57.8%
XTRA:B8F Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 31.9%
Germany Biotechs Industry Earnings Growth Rate Market Cap Weighted Average 52.7%
Germany Biotechs Industry Revenue Growth Rate Market Cap Weighted Average 32.9%
Germany Market Earnings Growth Rate Market Cap Weighted Average 13.2%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
XTRA:B8F Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in EUR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
XTRA:B8F Future Estimates Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2023-12-31 152 49 53 1
2022-12-31 120 28 31 1
2021-12-31 89 11 15 1
2020-12-31 63 -2 5 2
2019-12-31 39 -16 -10 3
XTRA:B8F Past Financials Data
Date (Data in EUR Millions) Revenue Cash Flow Net Income *
2018-12-31 21 -13 -9
2018-09-30 19 -13 -14
2018-06-30 16 -12 -15
2018-03-31 14 -16
2017-12-31 12 -13 -16
2017-09-30 11 -16 -18
2017-06-30 9 -16 -16
2017-03-31 8 -15 -14
2016-12-31 6 -10 -11
2016-09-30 4 -8 -9
2016-06-30 4 -6 -7
2016-03-31 4 -8 -9

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Biofrontera's earnings are expected to grow significantly at over 20% yearly.
  • Biofrontera's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
XTRA:B8F Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below

All data from Biofrontera Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

XTRA:B8F Future Estimates Data
Date (Data in EUR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2023-12-31 1.06 1.06 1.06 1.00
2022-12-31 0.63 0.63 0.63 1.00
2021-12-31 0.29 0.29 0.29 1.00
2020-12-31 0.11 0.17 0.05 2.00
2019-12-31 -0.21 -0.21 -0.22 3.00
XTRA:B8F Past Financials Data
Date (Data in EUR Millions) EPS *
2018-12-31 -0.20
2018-09-30 -0.33
2018-06-30 -0.37
2018-03-31 -0.41
2017-12-31 -0.42
2017-09-30 -0.49
2017-06-30 -0.47
2017-03-31 -0.40
2016-12-31 -0.36
2016-09-30 -0.33
2016-06-30 -0.28
2016-03-31 -0.40

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Biofrontera will efficiently use shareholders’ funds in the future without estimates of Return on Equity.
X
Future performance checks
We assess Biofrontera's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Germany market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Biofrontera has a total score of 5/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

B8F Past Performance

  How has Biofrontera performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Biofrontera's growth in the last year to its industry (Biotechs).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Biofrontera does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Biofrontera's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Biofrontera's 1-year growth to the Europe Biotechs industry average as it is not currently profitable.
Earnings and Revenue History
Biofrontera's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Biofrontera Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

XTRA:B8F Past Revenue, Cash Flow and Net Income Data
Date (Data in EUR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 21.11 -8.88 30.71 4.43
2018-09-30 19.24 -13.74 23.75 4.21
2018-06-30 15.99 -15.05 22.44 4.23
2018-03-31 14.09 -16.00 21.34 4.04
2017-12-31 12.03 -16.10 20.02 4.23
2017-09-30 10.58 -18.03 20.81 4.51
2017-06-30 9.43 -15.84 17.38 4.97
2017-03-31 7.73 -13.64 14.03 4.76
2016-12-31 6.13 -10.58 11.62 4.64
2016-09-30 4.38 -9.08 8.96 4.20
2016-06-30 4.28 -7.35 7.75 3.56
2016-03-31 4.12 -9.29 7.34 5.97
2015-12-31 4.14 -11.20 6.93 6.20
2015-09-30 3.74 -12.04 6.85 6.75
2015-06-30 3.45 -12.63 6.73 6.97
2015-03-31 3.48 -10.44 6.98 4.63
2014-12-31 3.10 -10.72 7.09 4.53
2014-09-30 3.24 -10.01 6.69 4.38
2014-06-30 2.95 -9.79 6.54 4.09
2014-03-31 3.13 -9.15 6.28 3.75
2013-12-31 3.11 -8.07 5.46 3.19
2013-09-30 2.54 -7.62 5.11 2.36
2013-06-30 2.73 -6.90 4.88 1.98
2013-03-31 3.02 -5.22 4.02 1.68
2012-12-31 3.43 -4.12 4.09 1.38
2012-09-30 2.87 -4.23 3.77 1.30
2012-06-30 2.30 -4.35 3.45 1.21

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Biofrontera has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Biofrontera has efficiently used its assets last year compared to the Europe Biotechs industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Biofrontera improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Biofrontera's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Biotechs industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Biofrontera has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

B8F Health

 How is Biofrontera's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Biofrontera's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Biofrontera is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Biofrontera's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Biofrontera's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 2x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Biofrontera Company Filings, last reported 4 months ago.

XTRA:B8F Past Debt and Equity Data
Date (Data in EUR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 16.36 13.63 19.47
2018-09-30 12.97 13.36 21.94
2018-06-30 17.31 13.19 27.14
2018-03-31 21.84 12.86 30.99
2017-12-31 3.38 12.53 11.11
2017-09-30 4.84 12.88 14.32
2017-06-30 10.39 6.32 12.59
2017-03-31 12.42 8.77 16.66
2016-12-31 15.84 3.87 15.13
2016-09-30 -2.57 12.53 7.23
2016-06-30 1.08 12.22 11.12
2016-03-31 -0.79 11.92 9.06
2015-12-31 -4.81 12.07 4.69
2015-09-30 -6.23 12.03 3.18
2015-06-30 -4.30 11.74 4.84
2015-03-31 -2.36 11.45 6.61
2014-12-31 -0.02 12.02 9.24
2014-09-30 2.71 11.59 11.03
2014-06-30 5.22 11.30 13.04
2014-03-31 7.97 11.03 15.14
2013-12-31 -4.55 12.50 3.70
2013-09-30
2013-06-30 -0.15 12.22 7.26
2013-03-31 -4.09 11.65 3.43
2012-12-31 -4.09 11.65 3.43
2012-09-30 -4.09 11.65 3.43
2012-06-30 -0.93 11.39 6.20
  • Biofrontera's level of debt (83.3%) compared to net worth is high (greater than 40%).
  • Biofrontera had negative shareholder equity 5 years ago, it is now positive therefore their debt level has improved.
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Biofrontera has sufficient cash runway for 1.4 years based on current free cash flow.
  • Biofrontera has sufficient cash runway for 1.4 years if free cash flow continues to grow at historical rates of 17.8% each year.
X
Financial health checks
We assess Biofrontera's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Biofrontera has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

B8F Dividends

 What is Biofrontera's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Biofrontera dividends.
If you bought €2,000 of Biofrontera shares you are expected to receive €0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Biofrontera's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Biofrontera's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
XTRA:B8F Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
Europe Biotechs Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 0.8%
Germany Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.4%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

XTRA:B8F Future Dividends Estimate Data
Date (Data in €) Dividend per Share (annual) Avg. No. Analysts
2023-12-31
2022-12-31
2021-12-31
2020-12-31
2019-12-31

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Biofrontera has not reported any payouts.
  • Unable to verify if Biofrontera's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Biofrontera's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Biofrontera has not reported any payouts.
Future Payout to shareholders
  • Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.
X
Income/ dividend checks
We assess Biofrontera's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Biofrontera afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Biofrontera has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

B8F Management

 What is the CEO of Biofrontera's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Hermann Lübbert
COMPENSATION €741,000
AGE 62
TENURE AS CEO 22.3 years
CEO Bio

Prof. Hermann Lübbert, Ph.D. is a Co-Founder of Biofrontera AG and serves as its Chief Executive Officer since 1997and Chairman of Management Board. Prof. Lübbert serves as the Chief Scientific Officer of Aliga Pharmaceuticals AG. After an additional employment as senior researcher in the same institution, he joined Sandoz Pharma AG in Basel, Switzerland. At Sandoz, he first headed a research group, later the team for research on neuronal survival and differentiation. In 1994 he was nominated as head of the newly formed department for Human Genome Research and Biocomputing. After the merger of Sandoz and Ciba-Geigy he headed the department for Neurogenetics of Novartis Pharma AG and was a member of the Neuroscience Management Team, which had world-wide responsibility for all research of Novartis in the neurosciences. Prof. Lübbert serves Member of Management Board of Biofrontera AG since March 27, 2015. Prof. Lübbert left Novartis in 1997 to start Biofrontera Pharmaceuticals GmbH. Since 1998, Prof. Lübbert additionally heads the chair for animal physiology at the Ruhr-University Bochum. He graduated in molecular biology at the University of Cologne with summa cum laude in 1984 and spent his post-graduate time at the California Institute of Technology.

CEO Compensation
  • Hermann's compensation has increased whilst company is loss making.
  • Hermann's remuneration is about average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Biofrontera management team in years:

4.7
Average Tenure
55
Average Age
  • The tenure for the Biofrontera management team is about average.
Management Team

Hermann Lübbert

TITLE
Co-Founder
COMPENSATION
€741K
AGE
62
TENURE
22.3 yrs

Thomas Schaffer

TITLE
CFO & Member of Management Board
COMPENSATION
€453K
AGE
55
TENURE
5.9 yrs

Christoph Dünwald

TITLE
Chief Commercial Officer
COMPENSATION
€402K
AGE
50
TENURE
3.5 yrs

Pamela Keck

TITLE
Head of Investor Relations

Alexander Richardson

TITLE
Head of UK Sales Team
TENURE
1 yrs
Board of Directors Tenure

Average tenure and age of the Biofrontera board of directors in years:

3
Average Tenure
59
Average Age
  • The tenure for the Biofrontera board of directors is about average.
Board of Directors

Ulrich Granzer

TITLE
Chairman of the Supervisory Board
COMPENSATION
€24K
AGE
57
TENURE
3 yrs

Jürgen Baumann

TITLE
Vice-Chairman of the Supervisory Board
COMPENSATION
€26K
AGE
63
TENURE
3 yrs

Humphrey Rang

TITLE
Head of the Scientific Advisory Board

John Borer

TITLE
Member of Supervisory Board
COMPENSATION
€9K
AGE
60
TENURE
3 yrs

Kevin Weber

TITLE
Member of Supervisory Board
COMPENSATION
€9K
AGE
59
TENURE
3 yrs

Reinhard Eyring

TITLE
Member of the Supervisory Board
AGE
59
TENURE
1.3 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Biofrontera insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
12. Apr 19 Buy Deutsche Balaton Biotech AG Company 06. Mar 19 06. Mar 19 3,000 €5.27 €15,810
12. Apr 19 Buy Rolf Birkert Individual 02. Apr 19 10. Apr 19 53,732 €6.29 €328,362
12. Apr 19 Buy DELPHI Unternehmensberatung AG Company 11. Oct 18 10. Apr 19 320,925 €6.36 €0
20. Sep 18 Buy Deutsche Balaton Biotech AG Company 06. Aug 18 06. Aug 18 1,286,401 €5.19 €5,558,934
20. Sep 18 Buy Deutsche Balaton Biotech AG Company 05. Jun 18 08. Jun 18 6,609 €4.79 €31,487
20. Sep 18 Buy DELPHI Unternehmensberatung AG Company 10. Aug 18 14. Sep 18 523,673 €5.40 €0
20. Sep 18 Buy Deutsche Balaton AG Company 23. Jul 18 29. Aug 18 152,194 €5.39 €538,650
20. Sep 18 Buy Deutsche Balaton AG Company 01. Jun 18 01. Aug 18 12,500 €5.04 €60,797
11. Jun 18 Sell Rolf Birkert Individual 23. May 18 24. May 18 -19,000 €5.62 €-106,721
11. Jun 18 Buy Deutsche Balaton AG Company 24. May 18 31. May 18 19,427 €5.72 €110,247
X
Management checks
We assess Biofrontera's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Biofrontera has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

B8F News

Simply Wall St News

Does Biofrontera AG's (ETR:B8F) CEO Salary Compare Well With Others?

This report will, first, examine the CEO compensation levels in comparison to CEO compensation at companies of similar size. … How Does Hermann Lübbert's Compensation Compare With Similar Sized Companies. … Our data indicates that Biofrontera AG is worth €248m, and total annual CEO compensation is €741k.

Simply Wall St -

Biofrontera AG’s (ETR:B8F) Insiders Ramped Up Holdings - Should You?

some insider buying over the past three months, with insiders investing in. … It is widely considered that insider buying stock in their own companies is potentially a bullish signal … A research published in The MIT Press (1998) concluded that stocks following insider buying outperformed the market by 4.5%

Simply Wall St -

Biofrontera AG's (XTRA:B8F) Profit Outlook

Biofrontera AG, a biopharmaceutical company, engages in the development and commercialization pharmaceutical products for the treatment of dermatological conditions and diseases caused primarily by exposure to sunlight that result in sun damage to the skin. … Many investors are wondering the rate at which B8F will turn a profit, with the big question being “when will the company breakeven?” … In this article, I will touch on the expectations for B8F’s growth and when analysts expect the company to become profitable

Simply Wall St -

Biofrontera AG's (ETR:B8F) Earnings Dropped -52.21%, How Did It Fare Against The Industry?

Check out our latest analysis for Biofrontera Was B8F's recent earnings decline indicative of a tough track record? … For the most up-to-date info, I use data from the most recent 12 months, which either annualizes the most recent 6-month earnings update, or in some cases, the most recent annual report is already the latest available financial data. … For Biofrontera, its most recent trailing-twelve-month earnings is -€16.10M, which, relative to last year’s level, has become more negative.

Simply Wall St -

Calculating The Fair Value Of Biofrontera AG (ETR:B8F)

I then discount the sum of these cash flows to arrive at a present value estimate. … 5-year cash flow forecast 2018 2019 2020 2021 2022 Levered FCF (€, Millions) €-10.60 €-1.30 €2.30 €18.00 €36.10 Source Analyst x1 Analyst x1 Analyst x1 Analyst x1 Analyst x1 Present Value Discounted @ 11.47% €-9.51 €-1.05 €1.66 €11.66 €20.98 Present Value of 5-year Cash Flow (PVCF)= €24 The second stage is also known as Terminal Value, this is the business's cash flow after the first stage. … Terminal Value (TV) = FCF2022 × (1 + g) ÷ (r – g) = €36 × (1 + 0.7%) ÷ (11.5% – 0.7%) = €337 Present Value of Terminal Value (PVTV) = TV / (1 + r)5 = €337 / ( 1 + 11.5%)5 = €196 The total value is the sum of cash flows for the next five years and the discounted terminal value, which results in the Total Equity Value, which in this case is €219.

Simply Wall St -

B8F Company Info

Description

Biofrontera AG, a biopharmaceutical company, engages in the development and commercialization pharmaceutical products for the treatment of dermatological conditions and diseases caused primarily by exposure to sunlight that result in sun damage to the skin. Its principal product is Ameluz, a prescription drug for the treatment of actinic keratosis. The company also offers BF-RhodoLED lamp, a photodynamic therapy for lesion-directed and field-directed treatment of actinic keratosis; and Belixos over-the-counter line of skin care cosmetics products. In addition, it is developing Ameluz for the treatment of basal cell carcinoma; BF-derm1 for the treatment of chronic and antihistamine-resistant urticaria; and BF-1 for the prophylactic treatment of migraine. The company offers its products primarily in the United States and Europe. Biofrontera AG has a collaboration and partnership agreement with Maruho Co., Ltd. The company was founded in 1997 and is headquartered in Leverkusen, Germany.

Details
Name: Biofrontera AG
B8F
Exchange: XTRA
Founded: 1997
€314,410,076
44,597,174
Website: http://www.biofrontera.com
Address: Biofrontera AG
Hemmelrather Weg 201,
Leverkusen,
North Rhine-Westphalia, 51377,
Germany
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
XTRA B8F Common Stock XETRA Trading Platform DE EUR 30. Oct 2006
OTCPK BFFT.F Common Stock Pink Sheets LLC US USD 30. Oct 2006
DB B8F Common Stock Deutsche Boerse AG DE EUR 30. Oct 2006
LSE 0DOL Common Stock London Stock Exchange GB EUR 30. Oct 2006
BATS-CHIXE B8Fd Common Stock BATS 'Chi-X Europe' GB EUR 30. Oct 2006
NasdaqCM BFRA SPON ADS EACH REP TWO ORD Nasdaq Capital Market US USD 14. Feb 2018
DB A2TSHY NPV (ASD 24/06/2019 MARUHO CASH) Deutsche Boerse AG DE EUR 30. Apr 2019
MUN A2TSHY NPV (ASD 24/06/2019 MARUHO CASH) Boerse Muenchen DE EUR 30. Apr 2019
BST B8FE SPON ADS EACH REP TWO ORD Boerse-Stuttgart DE EUR 14. Feb 2018
Number of employees
Current staff
Staff numbers
157
Biofrontera employees.
Industry
Biotechnology
Pharmaceuticals & Biotech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/23 21:16
End of day share price update: 2019/05/23 00:00
Last estimates confirmation: 2019/05/02
Last earnings filing: 2019/04/29
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.