CURASAN AG
DGAP-News: curasan AG / Key word(s): 9 Month figures
- Sales development of the regions MENA and USA below expectations - Positive impulses from Germany and the Asian markets
Accordingly, at EUR 4.4 million, net consolidated sales were 7 percent lower than in the previous year (9M 2017: EUR 4.7 million). At EUR 2.4 million, gross profit was disproportionately lower (9M 2017: EUR 3.1 million) due to a higher proportion of sales of merchandise and required value adjustments. At the same time, this shows the relevant reasons for the decline in earnings before interest, taxes, depreciation and amortization (EBITDA), which fell by 52 percent to EUR -2.8 million. (9M 2017: 1.9 mEUR). In addition to the reduced gross profit, increased investments in the expansion of the sales structure in the US focus market contributed to this development. By contrast, the decline in net income to EUR -3.4 million was more moderate at -16 percent year-on-year (9M 2017: EUR 2.9 million), which is largely attributable to one-off effects in 2017.
"It is extremely sobering that, in addition to the challenges we face in our day-to-day business, we also currently have to contend with political imponderables in regions that are important to us," explains Michael Schlenk, CEO of curasan AG. "The decline of the Turkish Lira makes it almost impossible for us and our partners to generate sales in Turkey. Parts of the MENA region have been subject to trade restrictions, which have cut us off from important sales channels overnight. And on the whole, the tense economic situation has recently led to a steadily worsening payment morale in the region." On the other hand, the German market developed positively, with sales increasing by around 16 percent to 1.0 million euros. This shows that the newly initiated Allianz management concept has been very well received by the market and is leading to rising demand.
Following the capital increase in August through a private placement with KLK Holdings Ltd, and in order to strengthen its equity situation, on October 4, 2018, the company announced the implementation of a further capital increase by issuing 1,671,120 new shares against cash contributions, excluding the subscription rights of existing shareholders. The new shares were subscribed in full by Donau Invest Beteiligungs Ges.m.b.H, headquartered in Vienna, Austria, in a private placement at a price of EUR 1.05 per share. The additional cash and cash equivalents of around EUR 1.8 million will probably be sufficient to finance business operations until the end of the first half of 2019 based on current business performance.
The Management Board expects to close the 2018 financial year as communicated in the full-year forecast adjusted on October 22, 2018.
curasan maintains its own high-tech facilities for research, development and manufacturing of biomaterials in Frankfurt/Main, Germany. In addition to its headquarters, the company has a subsidiary, curasan, Inc., in Wake Forest, near Raleigh, N.C., USA. curasan's innovative products are cleared by the US Food and Drug Administration (FDA) and many other international authorities and available in almost 50 countries worldwide. curasan AG is a public company listed in the General Standard at the Frankfurt Stock Exchange (ISIN: DE0005494538).
22.11.2018 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
| Language: | English |
| Company: | curasan AG |
| Lindigstraße 4 | |
| 63801 Kleinostheim | |
| Germany | |
| Phone: | 06027/40 900 0 |
| Fax: | 06027/40 900 29 |
| E-mail: | info@curasan.de |
| Internet: | www.curasan.de |
| ISIN: | DE0005494538 |
| WKN: | 549453 |
| Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| End of News | DGAP News Service |
749859 22.11.2018
