curasan emerges strengthened from 2017

 

  • Net sales increase by 4.5 percent to EUR 6.8 million in 2017 /Gross sales rise by 3.9 percent to EUR 7.2 million
  • Export sales grow by around 9 percent to EUR 5.6 million
  • New partners in China, USA and Germany

Kleinostheim, 26 April 2018 – curasan AG (ISIN DE0005494538), a leading specialist in medical products in the field of orthobiology, continued to grow in the past fiscal year 2017 in line with expectations. According to the business figures published today, especially export sales to the defined growth regions, contributed to the increase in sales once again.

Net sales increased by 4.5 percent to EUR 6.8 million for the full year (2016: EUR 6.5 million). At the same time, gross revenues increased from EUR 6.9 million by 3.9 percent to EUR 7.2 million. Compared to the forecast, they were thus at the upper end of the published range of EUR 6.9 to 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 (2016: EUR -2,1 million). Strongly influenced by special effects and the tax and interest provision for corporate taxes from 2008, the net result of EUR -4.0 million (2016: EUR-2.1 million) was in the middle of the projected range of EUR -3, 9 to -4.2 million.

In 2017, the defined growth regions in the Middle East and the USA as well as individual markets in Europe again set a positive course. They contributed to growing sales revenues from exports of around 9 percent to EUR 5.6 million. German and Asian markets decreased in sales to EUR 2.6 million from EUR 3.0 million in the previous year. The decline is mainly attributable to the strategically important shift to new, better-positioned distribution partners, which led to lower revenue realization in the transition phase.

The company’s equity increased by a total of EUR 1.0 million to EUR 9.9 million (31.12.2016: EUR 8.9 million) as a result of the capital increase of EUR about 5.0 million carried out and taking into account the business development. As a result the equity ratio stood at 68.3 percent (December 31, 2016: 70.9 percent). Cash and cash equivalents increased to EUR 2.0 million at the end of the reporting period and are therefore at a sufficiently high level to further ensure the financial agility of the company (31.12.2016: EUR 1.0 million).

“With our growth, we remained below our own expectations in some markets in 2017,” explains Michael Schlenk, CEO of curasan AG. “Against the background of developments in the past year, however, we have set important course and concluded contracts with new strong sales partners in China, the USA and Germany. Curasan is now optimally positioned for a sustainable and rapid reconnection to the growth year 2016. ”

Based on internal planning and the forecasts of the sales partners, the company expects net sales of EUR 8.4 to 8.7 million for the financial year 2018, representing an increase of more than 20 percent. 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 (2017: EUR -2.2 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.

CEO Michael Schlenk will discuss more details on today’s annual figures today at 2.30 pm in an open conference call for analysts, qualified investors and journalists. Registration is done by e-mail through the Investor Relations and Corporate Communications department (IR@curasan.com).

The complete Annual Report 2017 is available for download on the company’s website at the following link:

www.curasan.de/investoren/publikationen/finanzberichte


Contact curasan AG:

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

 

 About curasan AG:
curasan develops, manufactures and markets biomaterials and other medical devices in the field of bone and tissue regeneration. As an industry pioneer, the company specializes in synthetic bone substitutes for use in orthopedics and dental implantology. Numerous patents and a comprehensive list of scientific documentation prove the clinical success of the products and the high innovative strength of curasan. Surgical dentists, implantologists and oral and maxillofacial surgeons, as well as orthopedists, traumatologists and spine surgeons all benefit from the technology leader’s high-quality and user-oriented portfolio. The company maintains its own research, development and production site in Frankfurt / Main, which has the highest level of equipment and has been successfully audited by the US Food and Drug Administration (FDA) and other international agencies. In addition to its headquarters, the Group operates a subsidiary, curasan Inc., Wake Forest, near Raleigh, N.C., USA. The shares of curasan AG are listed in the General Standard on the Frankfurt Stock Exchange (ISIN: DE 000 549 453 8).