Growth in sales: 24.4% in first half-year 2008
Berlin (euro adhoc) -
Half-year Financial Report
ots.CorporateNews transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
balance
High-resolution camera technology for gentle and safe surgical procedures helped drive sales of listed medical device manufacturer WORLD OF MEDICINE by 24.4% in the first half-year 2008, to TEUR20,120. The Group's pre-tax sales yield of 19.8% also markedly outpaced the figure for the same period last year. "Adjusted for currency effects, growth in sales actually reached 31.7%" states Peter P. Wiest, CEO of WORLD OF MEDICINE. "On the earnings side, we used hedging transactions to compensate for the loss in sales revenue caused by the deteriorated value of US dollar-based sales." After-tax earnings(adjusted for the one-time income attained in the prior year(rose by 81.1% to EUR2.6 million.
| |H1/2008 |H1/2007 |Change | |Sales |TEUR20,120 |TEUR16,174 |+ 24.4% | |EBT |TEUR3,978 |TEUR2,414 |+ 64.8% | |Pre-tax sales yield|19.8% |14.9 % |+ 32.9% | |Earnings per share |EUR0.30 |EUR0.27 |+ 11.1% |
The Company anticipates that the pace of business development in the second half-year will be more restrained. "We see the risk of continuing deterioration in the US market," Peter P. Wiest maintains. "Moreover, our performance in the second half-year of 2007 was very strong. For this reason, both on a 9-month basis and for the year 2008 as a whole, we are not projecting sales and earnings increases comparable to the results from the first six months of the year." The Management Board therefore reiterates its annual targets for 2008: An increase in sales equal to the rate of market growth of 7%, and a pre-tax sales yield of 11%.
The complete 2008 Half-Year Financial Report is available at:
www.world-of-medicine.com/wsc/pdf/wom/en/qr_halfyearreport_2008_wom.p df
Today at 1:00 p.m. CET: A telephone conference on the quarterly figures for analysts, investors, and press representatives is scheduled. To participate, please contact the Company directly.
WORLD OF MEDICINE and its technologies are paving the way in Minimally Invasive Surgery - or MIS for short. This approach includes safe and gentle surgical procedures conducted not through major incisions, but through keyhole or puncture incisions. The Company is the global market leader in a niche of this future market.
end of announcement euro adhoc
Further inquiry note:
Stefanie Gehrke
Tel.: +49 (0)30 399 81 566
E-Mail: stefanie.gehrke@womcorp.com
Branche: Pharmaceuticals
ISIN: DE0006637390
WKN: 663739
Index: CDAX, Prime All Share, Technologie All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse München / free trade