euro adhoc: curasan AG
other
curasan AG announces preliminary
results for 2004
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
25.02.2005
Kleinostheim, February 25, 2005 - curasan AG (WKN 549 453) today announced its preliminary results for the 2004 financial year. As regards year-on-year comparisons, it should be noted that the Pharmaceuticals business unit (Anti-Infectives and AIEP products) was sold by the company in October 2003 and that curasan is currently focusing on the area of Regenerative Medicine. In 2004, revenue generated by continuing operations increased by 44.4%, up from EUR 5.4 million to approx. EUR 7.8 million. In the same period a year ago, total revenue, including that generated within the Pharmaceuticals unit now no longer operated by the company, had amounted to EUR 14.9 million. The loss before interest and taxes for the remaining business unit was reined back from EUR 4.3 million to approx. EUR 3.6 million. The net loss for the year stood at approx. EUR 2.3 million. The total headcount at the end of the period was 77.
The 2004 financial year was dominated by activities associated with the disposal of the Pharmaceuticals unit and curasan AGs future focus on the core business of Regenerative Medicine. Changes made to the structure of the Companys sales partnership in the US, coupled with delays to the market rollout of Cerasorb®M, meant that revenue fell slightly short of the original target. The merger of the two subsidiaries GerontoCare GmbH and Titanium Innovations GmbH with the parent company, a measure executed in order to achieve future cost reductions, resulted in non-recurring extraordinary expense items attributable to the write-off of goodwill. Thus, earnings fell slightly short of the forecast of minus EUR 2 million.
Once again, the target for 2005 is to achieve a double-digit revenue increase and a substantial improvement in earnings.
The definitive financial results will be announced on April 6, 2005. The full 2004 annual report can be accessed from April 6, 2005, at www.curasan.de, Investor Relations section.
About curasan AG: curasan AG (ISIN: DE 000 549 453 8), an exchange-listed company, is a leading innovator within the growth market of bone and tissue regeneration. The company has developed a comprehensive product range centred around its synthetic bone regeneration material Cerasorb®, for use in soft and hard tissue. curasan AG's main goal is to occupy a leading position as a global specialist in Regenerative Medicine. For further information, please visit curasans corporate website at: www.curasan.de
For further details, please contact: Ralph Wintermantel, curasan AG, Tel. 06027/46 86 468, eMail: ir@curasan.de Dr. Erwin Amashaufer, curasan AG, Tel. 06027/46 86 0, eMail: ir@curasan.de
end of announcement euro adhoc 25.02.2005 09:24:05
Further inquiry note:
Ralph Wintermantel
Leiter Investor Relations
Tel.: +49(0)6027-4686-468
E-Mail: ir@curasan.de
Branche: Biotechnology
ISIN: DE0005494538
WKN: 549453
Index: CDAX, Classic All Share, Prime Standard, Prime All Share
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