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MarketScreener Homepage  >  Equities  >  Xetra  >  Curasan AG       DE0005494538

CURASAN AG

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curasan : increases sales considerably in the first quarter

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05/23/2019 | 02:53am EDT
  • Net group revenues with EUR 1.7 million 9 % above previous year
  • Turnover in the Middle East recovers and exceeds previous year significantly
  • Outlook for full year 2019 confirmed

Kleinostheim, 23 May 2019 - curasan AG, Germany, a leading specialist for medical products in the field of orthobiologics, has developed within the scope of its annual forecast in the first quarter. The company was able to make a clear growth spurt compared to the same quarter of the previous year mainly by re-strengthened revenues in the Middle East.

Accordingly, net group revenues of EUR 1.69 million (Q1 2018: EUR 1.53 million) turned out about 9 percent higher than in the previous year. Earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR -0.68 million declined mostly caused by expenses for the extraordinary general meeting in January as well as for the preparation and issuance of convertible bonds (Q1 2018: EUR -0.47 million). Earnings before interest and taxes (EBIT) also fell short below previous year's level caused by the special effects mentioned before (Q1 2018: EUR 0.72 million). The first quarter 2019 raises hopes for massive improvements in turnover and profit for 2019 and confirms the forecast.

The key financial figures on the development of earnings in the first quarter of 2019 are as follows:

IFRS (in TEUR) Q1 2019 Q1 2018 Deviation
Net Group Sales 1,689 1,529 9%
Gross Margin 59% 60% -1%
EBITDA -675 -471 -43%
EBIT -839 -716 -17%
Net Result -846 -736 -15%

The gross margin almost matched the previous year's level. The company assumes that this key figure will continue to improve significantly.

Turnover by regions developed as follows in the first quarter:

IFRS (in TEUR) Q1 2019 Q1 2018 Deviation
Asia 321 423 -24%
Middle East 287 129 123%
America 439 407 8%
Europe 642 570 13%
TOTAL 1.689 1.529 9%

As expected, sales in Asia remained behind the strong corresponding quarter of the previous year, partly due to extraordinary revenues in Vietnam in the first quarter of 2018. Based on purchase commitments of the Asian distribution partners Management expects to be able to catch up the missing sales in Asia by the end of the year. Revenues in the Middle East have more than doubled compared to the same period in the previous year. America has recorded a slight increase so far. The company still expects strong growth in this area in particular in the field of orthopedics. Revenues in Europe grew in line with expectations and are expected to further improve thanks to distribution partners won in Germany in the previous year.

Other key financial ratios in the first quarter can be seen from the following table:

IFRS (in TEUR) Q1 2019 Q1 2018 Deviation
Equity 6,667 9,209 -2,542
Total Assets 10,718 13,921 -3,203
Equity Ratio 62% 66% -
Cash 296 1,021 -725
Employees (FTE) 38 39 -1

Against the backdrop of the start of the year in line with the forecast and the development to be expected in the further course of the year the Management Board holds on to the outlook for the development of revenues and profit for 2019 in an unchanged form.

The audited interim report for the first half of 2019 will be published on August 22, 2019. Further information on the curasan group and its affiliated subsidiaries can be found at www.curasan.de.

Contact curasan AG:
Andrea Weidner
Investor Relations &
Corporate Communications
+49 6027 40 900-51
ir@curasan.com

About curasan AG:
curasan develops, manufactures and markets biomaterials and medical devices in the field of bone and tissue regeneration, wound healing and osteoarthritis therapy. As a pioneer and global technology leader in the growing field of regenerative medicine, curasan is specialized primarily on biomimetic bone grafting materials for dental, oral/maxillofacial, orthopedic and spinal applications, i.e. materials mimicking biological structures. Numerous patents and a broad record of scientific publications demonstrate the clinical success of the products and the highly innovative strength of curasan. Dental and orthopaedic clinicians worldwide benefit from the broad range of the premium quality and easy to use portfolio offered by the technology leader curasan. 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.

Disclaimer

curasan AG published this content on 23 May 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 23 May 2019 06:52:10 UTC

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Managers
NameTitle
Michael Schlenk Chief Executive Officer
Detlef Wilke Chairman-Supervisory Board
Christine Uekert Chief Financial Officer
Fabian Peters Technical Director
Dirk Honold Deputy Chairman-Supervisory Board
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