29% revenue growth and lowest loss since IPO

Kleinostheim, May 7, 2003 - According to preliminary figures for the first quarter of the fiscal year 2003, curasan AG (WKN: 549453) has been able to emulate its positive performance displayed at the end of 2002. Registering quarterly revenues of EUR 4.5 million (Q1/2002: EUR 3.5m), the highest figure to date, curasan AG succeeded in reducing its quarterly loss to EUR 250 thousand, after a loss of EUR 727 thousand in the same quarter a year ago, and thus posted the lowest loss since its IPO. The overall level of cash and cash equivalents has remained virtually unchanged since the beginning of the fiscal year. The number of employees, computed on the basis of full-time staff, stood at 93.

New sales partnerships in the US provided fresh impetus in terms of revenue growth. curasan AG intends to establish new partnerships abroad in order to accelerate its future growth.

In the first quarter of 2003, the company also stepped up its efforts when it came to launching new, innovative products: Alongside the supply of various sizes of new Cerasorb® block forms, curasan also assumed responsibility for the exclusive European distribution of the odontoscope developed by the Karl Storz company, based in Tuttlingen/Germany. This special endoscope designed specifically for the field of dental surgery supports minimal invasive treatment. The endoscope has become firmly established in many fields of medicine and also looks set to take the medical discipline of dental surgery by storm.

The growing acceptance of the bone regeneration material Cerasorb® points to increased sales revenues within the area of Biomaterials and, as a result, higher gross margins. Based on the current performance, curasan AG is expected to meet its target of achieving break even in the third quarter of 2003 if cost and profit structures remain stable.

The full Q1/2003 report will be published on May 13, 2003.

Top of page Print page