FRANKFURT, (Reuters) – BioNTech’s first quarter sales and earnings more that tripled due to the demand for its COVID-19 vaccine. Pfizer (NYSE:) However, the German biotech company reiterated its prediction for a decline of vaccine sales over the next year.

First-quarter revenues more than tripled from the year-earlier period, to 6.37 billion euros, as did quarterly net income, to 3.70 billion euros, the company said in a statement on Monday.

Jens Holstein, chief finance officer, said that the increased volume of orders placed in 2021, following the Omicron variant’s then-emerging, meant that we entered 2022 with solid revenues and earnings. This made us better positioned to reach the financial guidance for 2022.

BioNTech’s 2022 revenue guidance, between 13 billion to 17 billion euros (down from 19 billion in last year), was reiterated by the company. This implies that there will be a drop during the remaining part of 2018.

BioNTech’s guidance was based on only firm orders from the previous quarters. These were at a level of about 2.4 Billion doses, below the 2021 delivery estimate.

Rival vaccine maker Moderna (NASDAQ:) Last week was bullish. It forecasted higher sales of vaccines for the second half than the first six months. This is because it anticipates a greater demand for booster shots during the fall.

BioNTech’s Pfizer partner last week took a more cautious approach. They only looked at the order backlog to its 2022 COVID vaccination sales forecast of $32 Billion, down from $36.8B last year.

On Monday, the German company stated that they expect to receive trial data in relation to its COVID efforts that target the Omicron dominant Omicron variant within the next few weeks.