Annual results influenced by positive trends in growth regions

  • Adjusted gross sales rise by 3.6 percent to 6.0 million euros
  • Result per share rises significantly from -0.24 euro to +0.15 euro
  • Growth regions United Kingdom, Middle East and United States show increasing sales growth

 Kleinostheim, April  28th,  2016  –  curasan AG  (ISIN  DE0005494538),  a  leading specialist for medical  products in  the  field of  orthobiologics, concluded fiscal year 2016 in line with expectations for the results from operations. In accordance with the annual results published today, adjusted gross sales in the continued areas of business rose by 3.6 percent from 5.8 million euros to 6.0 million euros. Due to numerous special effects, the result before taxes, interest and depreciation (EBITDA) at 2.1 million euros was significantly higher than the figure of -1.1 million euros in the previous year. Accordingly, net profit amounted to 1.3 million euros, after a deficit of -1.8 million euros was posted for the previous year.

The United Kingdom and the Middle East as defined growth regions, in which the good dynamics from the beginning of the year became a sustained trend in sales growth, once again contributed to the positive development in the fourth quarter. In the United States as well, sales growth in the fourth quarter was again very strong and positive on a sustained basis. At the same time, the core market in Germany, in which the sales declined slightly on the basis of continued areas of business, were still unsatisfactory, as expected. The same was true for the South American markets, which remained below expectations.

“It is now increasingly obvious that the positive developments in our defined growth regions are not just a flash in the pan,” said Michael Schlenk, CEO of curasan AG. “On balance, even though we didn’t make any great leaps forward in sales, the results for 2015 show that our sales offensive is working. Thus, in 2016 we will carefully apply the knowledge gained to new growth regions, particularly the United States and selected Asian markets.”

Compared to the forecast for fiscal year 2015, total gross sales at 6.1 million euros were in the middle of the expected range published. At 1.3 million euros, net income was a good half a million euros below expectations, for which two indirect operating effects were primarily responsible. First, the previous balance sheet approach used for the customer base of Riemser Pharma GmbH, acquired in 2013, had to be adapted retroactively, which led to 0.3 million euros in additional depreciation and expenses. Second, due among other things to the dramatic sales growth of the hyaluronic acid product Curavisc of more than 20 percent compared to the previous year, inventories at the end of the year were 0.2 million higher than previously expected in order not to preclude future earnings opportunities due to delivery bottlenecks.

Based on conservative planning, the management board of the company expects gross sales between 6.7 and 7.1 million euros for the current fiscal year 2016. The deficit for the year is expected to be in the range of – 1.5 to -1.9 million euros.

“As you know, a few days ago we concluded an agreement with a strategic investor for a capital increase of ten percent, which gives us additional financial support. We are sure that we must now transfer the successes achieved in the growth regions in 2015 directly to the United States and selected Asian markets,” Schenk stated confidently. “If we take proper advantage of the current momentum, we will reinforce our goal of a balanced result with stronger growth and sustainability.”

The company will publish details of planned strategic measures in the course of the second quarter. CEO Michael Schlenk will discuss further details of the annual results published today as well as the recent capital increase today at 1:30 p.m. during a telephone conference open to analysts, qualified investors and journalists. Interested parties can register by sending an e-mail to the Investor Relations and Corporate Communications departments (IR@curasan.com).

curasan has made the full annual report for 2015 available as a download on its website under the following link:

www.curasan.de/investoren/publikationen/finanzberichte

Upcoming capital markets events of curasan AG:

11 May 2016  Release of Q1 results, Kleinostheim
11 May 2016  DVFA Spring Conference,  Frankfurt / Main
12 May 2016  Roadshow,  Cologne/Düsseldorf


Contact curasan AG:

Ingo Middelmenne
Head of Investor Relations
+49 6027 40 900-45
+49 174 90 911 90
ingo.middelmenne@curasan.com

Andrea Weidner
Head of Corporate Communications
+49 6027 40 900-51
andrea.weidner@curasan.com

 

 About curasan AG:
curasan AG develops, manufactures and markets biomaterials and other medical products in the field of bone and tissue regeneration. A pioneer in its industry, curasan is specialized primarily on synthetic bone grafting ­materials for dental and orthopaedic applications. Numerous patents and a comprehensive list of scientific documentation prove the clinical success of the products and the highly innovative strength of curasan. Surgically active dentists, implantologists and oral, maxillary and dentofacial surgeons, as well as orthopaedics, traumatologists and spinal column surgeons worldwide benefit from the broad range of the premium quality and user-oriented portfolio offered by the technology leader. curasan maintains its own high-tech facilities for research, development and manufacturing in Frankfurt/Main, Germany, which are approved by the Food and Drug Administration (FDA) and other international authorities. In addition to its headquarters, the company has a subsidiary, curasan Inc., in the Research Triangle Park, near Raleigh, N.C., USA.The shares of curasan AG are listed in the General Standard at the Frankfurt Stock Exchange.
www.curasan.com