curasan publishes annual report and details of outlook

  • Gross sales revenues for the full year 2016 rise by 16.1 percent to EUR 6.9 million
  • EBITDA at EUR -2.1 million below the previous year’s figure, which was influenced by special effects
  • Equity slightly increased to EUR 8.9 million
  • Break even expected as of 2018

Kleinostheim, 27 April 2017 – curasan AG (ISIN DE0005494538), a leading specialist for medical products in the field of orthobiologics, has largely confirmed the previously announced preliminary results for the fiscal year 2016 in its annual report published today. Strong growth in new customer business and an increased number of forward orders from existing customers at the end of the year resulted in significant sales growth.

Adjusted sales revenues for the full year 2016 rose by 16.1 percent to EUR 6.9 million (2015: EUR 5.9 million). Of this, EUR 2.10 million was earned in the fourth quarter, corresponding to an increase of 36.4% over the previous year (Q4 2015: EUR 1.5 million). As previously announced, gross sales revenues for 2016 are thus in the middle of the expected range from EUR 6.7-7.1 million.

However, as anticipated, large investments in sales and marketing led to declines in the results. Earnings before taxes, interest, depreciation and amortization (EBITDA) amounted to EUR -2.1 million (2015: EUR 2.1 million). Non-recurring effects resulting from the settlement of a dispute with Stryker SA had led to an income of EUR 4.5 million in the previous year. Accordingly, earnings before taxes und interest (EBIT) at EUR -2.7 million were likewise significantly below those of the previous year (2015: EUR 1.5 million). After capitalization of loss carried forward leading to a tax income of EUR 0.7 million, the deficit for the year amounted to EUR – 2.1 million, corresponding to a loss per share of EUR – 0.21.

The company’s equity developed positively, rising slightly to EUR 8.95 million as the result of a capital increase carried out in December. The equity ratio at the end of the year was 70.9%, compared to 70.3% as of the reference date in the previous year.  Liquidity at 31 December 2016 declined slightly to EUR 1.0 million (2015: EUR 1.6 million).

“In 2016, we experienced significant growth and are now receiving better market feedback on our products month after month,” said Michael Schlenk, CEO of curasan AG, in his comments on the figures. “In 2017 we will continue to benefit from our investments in marketing and sales. In 2018 we will then be in a position to profit from our current efforts and curasan will be able to reach break-even.”

The management board of curasan AG expects continuing dynamic business performance in fiscal year 2017. Based on the internal budget planning process and the expectations of external sales partners, the company thus anticipates gross sales revenues between EUR 8.5-8.8 million. Bearing in mind the current strong growth, curasan is planning to utilize this momentum and increase its investments in sales growth to acquire additional market shares in Asia and particularly in the United States in 2017. The management board therefore expects a target figure between EUR -1.6 and EUR – 2.0 million for the net result.

The full annual report for 2016 is available for download on the company website at www.curasan.de.

Contact 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 develops, manufactures and markets biomaterials and medical devices in the field of bone and tissue regeneration, wound healing and osteoarthritis therapy. As a pioneer and global technology leader in the growing field of regenerative medicine, curasan is specialized primarily on biomimetic bone grafting materials for dental, oral/maxillofacial, orthopedic and spinal applications, i.e. materials mimicking biological structures. Numerous patents and a broad record of scientific publications demonstrate the clinical success of the products and the highly innovative strength of curasan. Dental and orthopaedic clinicians worldwide benefit from the broad range of the premium quality and easy to use portfolio offered by the technology leader curasan. curasan maintains its own high-tech facilities for research, development and manufacturing of biomaterials in Frankfurt/Main, Germany. In addition to its headquarters, the company has a subsidiary, curasan, Inc., in the Research Triangle Park area, near Raleigh, N.C., USA. curasan´s innovative products are cleared by the US Food and Drug Administration (FDA) and many other international authorities and available in almost 50 countries worldwide. curasan AG is a public company listed in the General Standard at the Frankfurt Stock Exchange.