curasan posts sales growth in the first quarter

  • Adjusted gross revenues increase by 2.5 percent to 1.63 million euros
  • EBITDA declines due to lower other operating income and increased personnel costs to -0.33 million euros
  • Cash flow pressured by period accruals

 Kleinostheim, 11 May, 2016  –  curasan AG  (ISIN  DE0005494538),  a  leading specialist for medical  products in  the  field of  orthobiologics, concluded the first quarter of fiscal year 2016 with slight increases in revenues. Adjusted gross revenues increased by 2.5 percent to 1.63 million euros compared to the same period in 2015. The reason for the repeated adjustment in gross revenues is the cessation of sales activities for the unprofitable product Cytoplast. Final revenues of 0.13 million euros resulted from the sale of the remaining inventories in the first quarter of 2015.

The result before taxes, interest, depreciation and amortization (EBITDA) decreased to -0.33 million euros from -0.07 million euros in the previous year. This was due on the one hand to a non-recurring effect from currency translation gains amounting to 0.13 million euros resulting from the debt consolidation from the American subsidiary curasan inc. in the comparable period of the previous year. On the other hand, personnel costs rose as planned in line with the growth strategy.

Operative cash flow at -0.88 million was significantly below the figure of -0.43 million for the previous year. The difference, which was larger than planned, is largely due to accruals-based accounting. “In the second half of March, our revenues grew significantly. However, we will be able to post the corresponding payments received only in the second quarter,” explained Michael Schenk, CEO of curasan AG. “Such shifts can always occur at the end of a period, but are mostly compensated by this point.”

The successful completion of a required animal study for the FDA certification of CERASORB sent positive signals. Several clinical studies in dental and orthopedic surgery were launched simultaneously with the application for regulatory approval.

In addition, the company hosted the “Frankfurt Implantology Days” for the first time again in March. “In recent years we did not hold this event due to cost pressures. The feedback from the participating implantologists, surgeons and speakers regarding the revival of the event was resoundingly positive. Next year we will expand the Frankfurt Implantology Days to include international participants and speakers,” said Schlenk. During the event, clinical physicians and university researchers exchanged information with interested and experienced users regarding their extensive long-term experience with the synthetic bone regeneration material CERASORB.

For the first time, curasan will hold a Global Sales Meeting in a similar form from May 26-28. The objective is to provide the company’s international distributors not only with more information about the products but particularly with innovative and practical marketing concepts.

The complete interim report on the first quarter of 2016 is available for downloading on the company’s website. Instead of holding a telephone conference, CEO Michael Schlenk is available to interested investors, analysts and members of the press at the DVFA Spring Conference in Frankfurt am Main and will be making a group presentation and holding individual conferences.

Upcoming capital market events of curasan AG:

11 May 2015  DVFA Spring Conference, Frankfurt am Main
12 May 2015  Roadshow in Cologne/Düsseldorf

 

Your contacts at 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 orthopedic 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 orthopedics, 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.