euro adhoc: Curanum AG
Financial Figures/Balance Sheet
CURANUM presents
preliminary figures for the 2005 financial year
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
07.04.2006
CURANUM AG, Munich, is today publishing preliminary results for the 2005 financial year. Since the auditor, Ernst & Young AG, has been unable to meet the agreed deadline, the Management Board is publishing preliminary sales and profit figures, which, according to statements issued by the auditor, may still be subject to modification. In addition to this, we shall need to take a qualification of the auditor's certificate into account.
According to the preliminary figures, CURANUM AG achieved sales revenues in the 2005 financial year of EUR 188.5 million (previous year: EUR 183.7 million), which was slightly above the budget for the total year. In the opinion of the Management Board, the key profit figures were also ahead of budget. However, one-off accounting effects brought about by the audit, among other things as a result of the conversion of the accounting basis to IFRS, depressed the key figures slightly to below the budgeted level of the operating result. According to these figures, the CURANUM Group achieved EBITDA profits (earnings before interest, tax, depreciation and amortization) of EUR 25.8 million (previous year: EUR 22.9 million). Personnel expenses rose from EUR 92.1 million to EUR 95.5 million. Outlays for rents rose by only 1.9% to EUR 32.7 million (previous year: EUR 32.1 million). EBIT (earnings before interest and taxes) improved from EUR 16.3 million to EUR 19.6 million. Depreciation amounted to EUR 6.1 million (previous year: EUR 6.6 million).
Due to modified calculation methods used under IFRS, the financial result fell to -EUR 7.4 million (previous year -EUR 7.2 million). As a consequence, the pre-tax result in the reporting year was EUR 12.2 million. In the previous year, the CURANUM Group achieved pre-tax profits of only EUR 9.0 million (+35.6%). Deducting income taxes of EUR 4.7 million (previous year EUR 4.0 million), Group net profit for the period rose by 55.1% to EUR 7.5 million (previous year: EUR 4.9 million). This corresponds to earnings per share of EUR 0.25 (previous year: EUR 0.16).
Despite the prepayment for a lease for the seven newly acquired facilities in North Rhine Westphalia of EUR 10.0 million, cash flow from current business activity in the reporting year amounted to EUR 12.3 million (previous year: EUR 20.9 million). Cash and cash equivalents rose from EUR 1.9 million to EUR 2.2 million. The equity ratio improved from 19.5% to 22.4% as a result of the risen earnings.
Since the operating business has developed as planned during 2005, we continue to anticipate that we will reach the targets that we budgeted for the 2006 financial year.
Munich, April 7, 2006
The Management Board
end of announcement euro adhoc 07.04.2006 08:53:59
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, SDAX
Börsen: Frankfurter Wertpapierbörse / regulated dealing/prime
standard
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