curasan AG reported earnings results for 2017. Net sales increased by 4.5% to EUR 6.8 million for the full year compared to EUR 6.5 million in 2016. At the same time, gross revenues increased from EUR 6.9 million by 3.9% to EUR 7.2 million. Compared to the forecast, they were thus at the upper end of the published range of EUR 6.9 million to EUR 7.2 million. As expected, the high level of future-oriented investments in marketing, sales, clinical studies and approvals to secure future growth meant that earnings before interest, taxes, depreciation and amortization (EBITDA) were negative at EUR 2.2 million compared to negative EUR 2.1 million a year ago. Strongly influenced by special effects and the tax and interest provision for corporate taxes from 2008, the net loss of EUR 4.0 million, compared to EUR 2.1 million a year ago.

Based on internal planning and the forecasts of the sales partners, the company expects net sales of EUR 8.4 million to EUR 8.7 million for the financial year 2018, representing an increase of more than 20%. Against the backdrop of continued investment in product approvals, sales and marketing activities, the company expects significantly improved but still negative EBITDA in the range of EUR 1.0 to 1.4 million.

In addition, the Executive Board expects to reach the cash break-even point in the fourth quarter of 2018 and an overall positive result in 2019.