euro adhoc: Curanum AG
quarterly or semiannual financial statement
CURANUM
doubles net profit in third quarter 2005
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
10.11.2005
Sales revenues of CURANUM AG, Munich, rose from EUR45.0 million in the third quarter of 2004 to EUR47.5 million in the third quarter of 2005, representing an increase by 5.6%. EBITDA increased by approximately 48% compared with the previous year from EUR4.8 million to EUR7.1 million. CURANUM therefore achieved an EBITDA margin in the third quarter of 14.9% - thereby clearly reflecting the extremely positive trend over the year (Q1: EUR5.9m, Q2: EUR6.8m). After depreciation of EUR1.6 million (previous year, EUR1.3 million), EBIT rose by around 72% from EUR3.2 million to EUR5.5 million, the EBIT margin thereby climbing from 7.1% to 11.6% in the third quarter. Pre-tax profit doubled from EUR1.8 million to EUR3.9 million in the reporting period, while the net profit also rose by almost 100% to EUR2.9 million (previous year, EUR1.5 million). The CURANUM Group therefore reported an earnings per share figure in the third quarter of EUR0.10 doubling the previous years figure of EUR0.05.
In the first nine months of the current year, sales revenues rose by 5.1% from EUR134.2 million in the previous year to EUR141.1 million in this reporting period. The decisive reason for the rise was the improvement in the capacity utilization rate in the first half-year as well as the adjustment of the investment costs in some facilities in North Rhine-Westphalia region. Of the total figure of EUR141.1 million, 90.4% was derived from care and services activities, 6.0% from apartments and 3.6% from other sources. EBITDA jumped 32% from EUR15.0 million to EUR19.8 million, while the EBITDA margin rose from 11.1% to 14.0% in the first nine months of the current year. EBIT was up from EUR10.8 million to EUR15.3 million, representing an increase of approximately 42%. Due to a slight improvement in net financial items, the pre-tax profit climbed by almost 90% to EUR10.6 million (previous year, EUR5.6 million) whilst the after-tax profit improved from EUR4.1 million to EUR7.1 million and was therefore slightly above budget. Earnings per share therefore rose by around 70% to EUR0.24.
The third-quarter results are slightly above budget so we are therefore highly confident that the envisaged sales and profits for 2005 financial year will be reached. The reforms currently being conducted in the administrative function of the facilities will make a significant contribution to profit in the fourth quarter and particularly in the coming year whilst we are working flat out on further increasing the capacity utilization rate.
Munich, November 10, 2005
The management board
millions EUR 9M-05 9M-04 yoy Q3-05 Q3-04 yoy Sales 141,1 135,0 4,5% 47,5 45,0 5,6% Staff costs 71,3 69,9 2,0% 23,9 24,1 -0,8% Rental exp. 24,6 23,9 2,9% 8,3 8,0 3,8% EBITDA 19,8 15,0 32,0% 7,1 4,8 47,9% % of Sales 14,0% 11,1% 14,9% 10,7% Depreciation 4,5 4,2 7,1% 1,6 1,3 23,1% EBIT 15,3 10,8 41,7% 5,5 3,2 71,9% % of Sales 10,8% 8,0% 11,6% 7,1% financial result -4,7 -5,2 -9,6% -1,5 -1,7 -11,8% EBT 10,6 5,6 89,3% 3,9 1,8 116,7% Net profit 7,1 4,1 73,2% 2,9 1,5 93,3% EPS (EUR) 0,24 0,14 70,8% 0,10 0,05 100,0% Cash Flow 15,5 7,5 106,7% 7,2 1,8 300,0% CPS (EUR) 0,52 0,25 108,0% 0,24 0,06 300,0%
end of announcement euro adhoc 10.11.2005 09:13:42
Further inquiry note:
Bernd Rothe
Tel.: +49 (0)89 242065-60
E-Mail: bernd.rothe@curanum.de
Branche: Healthcare Providers
ISIN: DE0005240709
WKN: 524070
Index: CDAX, Classic All Share, Prime All Share
Börsen: Frankfurter Wertpapierbörse / regulated dealing/prime
standard
Bayerische Börse / regulated dealing
Berliner Wertpapierbörse / free trade
Hamburger Wertpapierbörse / free trade
Baden-Württembergische Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Bremer Wertpapierbörse (BWB) / free trade