Growth in sales revenues gains momentum in third quarter

  • Adjusted gross revenues increase by 9.2 percent to 4.6 million euros
  • Growth regions with substantial upturn
  • Core market Germany sending positive signals again

Kleinostheim, 12 November 2015 – curasan AG (ISIN DE0005494538), a leading specialist for medical products in the orthobiology sector, has once again upped the pace of its sales growth in the third quarter. Based on the nine-month report published today, adjusted gross revenues rose by 9.2 percent to 4.6 million euros, from 4.2 million euros in the previous year. The developments in the third quarter made a particularly significant contribution to this improvement. In order to more effectively compare the operative development of curasan, revenues booked between January and September 2014 were adjusted for revenues from the low-profit product Cytoplast, of which the sale was discontinued in the first quarter of 2015, as well as for the modified booking of marketing subsidies paid to sales partners.

The defined growth regions enjoyed continued dynamic development. With an increase in sales revenue of 84.6 percent to 0.3 million euros, the Middle East region continued its positive growth. After only slight growth in the first half of the year, revenues rose in the Asia region in the third quarter, ending up at 0.9 million euros, 8.9 percent above the previous year’s value. Business in the core market Germany has clearly re-stabilized. Adjusted revenues of 1.1 million euros were 14.4 percent above last year’s. Over the entire year, the above average incremental growth is predicted to settle down to an average level. Revenues from the American market were 1.2 million euros and thus below the previous year, which can be primarily attributed to a temporary weakness in the South American market.

“Despite the lack of revenues from the less profitable product Cytoplast and the fact that since the end of 2014 we have been passing on our marketing subsidies to our sales partners in the form of lower prices instead of first booking these as part of revenues, our gross revenues are still always slightly above last year’s numbers”, explains Michael Schlenk, CEO of curasan. “This makes it clearer than ever that our new sales concept is showing first positive results.”

Earnings before interest, taxes, depreciation, and amortization (EBITDA) were 3.1 million euros, reflecting the special effects from the settlement payment from Stryker. This was well above last year’s figure of -0.6 million euros, as already the case in the first half year. The same applies for the net income of 2.7 million euros, after -0.9 million euros in 2014. The equity ratio rose by 72.1 percent, the liquid assets at the end of the third quarter were posted at 2.5 million euros.

“In the third quarter we invested more than usual in our stock reserve to ensure the basis of our future sales revenue growth and to avoid delivery bottle-necks,” Schlenk explains. “In addition, we see one-time effects in connection with the settlement payment from Stryker, from employee salaries deferred until now, a special payment to a principal supplier, and case-related legal advice.”

Based on the above adjustment requirements with respect to the revenue base of the fiscal year 2014, the Executive Board of curasan AG had assumed a sales growth of 5.8 to 6.4 million euros for all of 2015. Within the scope of a conservative firming up of this estimation, the Executive Board now anticipates sales revenues in the order of 6.0 to 6.2 million euros for the year, based on sales to date. Owing to the impact on earnings from one-time effects of the settlement payment from Stryker, the Executive Board expects the net income range to increase from between -1.6 and -1.2 million euros to between +1.9 to +2.1 million euros.

curasan has scheduled a conference call for analysts, journalists, and qualified investors at 12:00 CET today. 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 report on the first nine months of 2015 available as a download on its website under the following link:

 

www.curasan.de/investoren/publikationen/finanzberichte


C
ontact 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


Über die curasan AG:
curasan entwickelt, produziert und vermarktet Biomaterialien und andere Medizinprodukte aus dem Bereich der Knochen- und Geweberegeneration. Als Branchenpionier hat sich das Unternehmen vor allem auf synthetische Knochenersatzstoffe zur Verwendung in der Orthopädie sowie der dentalen Implantologie spezialisiert. Zahlreiche Patente und eine umfangreiche Liste an wissenschaftlichen Dokumentationen belegen den klinischen Erfolg der Produkte und die hohe Innovationskraft von curasan. Weltweit profitieren chirurgisch tätige Zahnärzte, Implantologen und Mund-, Kiefer,- Gesichtschirurgen sowie Orthopäden, Traumatologen und Wirbelsäulenchirurgen vom hochwertigen und anwenderorientierten Portfolio des Technologieführers. Das Unternehmen unterhält seinen eigenen Forschungs-, Entwicklungs- und Produktionsstandorts in Frankfurt/Main, dessen Ausstattungsniveau höchste Ansprüche erfüllt und der von der US-amerikanischen Food and Drug Administration (FDA) sowie anderen internationalen Behörden erfolgreich auditiert ist. Neben dem Stammsitz betreibt der Konzern eine Tochtergesellschaft, curasan Inc., im Research Triangle Park in der Nähe von Raleigh, N.C., USA. Die Aktien der curasan AG sind im General Standard an der Frankfurter Börse gelistet (ISIN: DE 000 549 453 8).

www.curasan.de