euro adhoc: curasan AG
Quarterly or Semiannual Financial Statements
/ curasan AG announces results for first quarter
Improved earnings with lower revenue
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
12.05.2005
Kleinostheim, May 12, 2005 - curasan AG (WKN 549 453) today announced its financial results for the first quarter ended March 31, 2005. In the first three months of the 2005 financial year, the company generated revenue of EUR 1.7 million (Q1 2004: EUR 2.4 million) and a loss before interest and taxes of EUR 400 thousand (Q1 2004: loss of EUR 516 thousand). The net loss for the period improved to EUR 256 thousand (Q1 2004: loss of EUR 335 thousand).
Revenue was 29% lower than in the same period a year ago. In spite of this, the company managed to improve EBIT by 22% year on year.
Production-related difficulties experienced by two of curasans suppliers led to a decline in revenue in the first quarter and to an order backlog, which is now gradually being reduced. The company was faced with a temporary downturn in revenues within the dental market due to the failure by the National Association of Statutory Health Insurance Physicians and statutory health insurance companies to reach an agreement on flat-rate allowances to be introduced in Germany. As a direct result of protracted negotiations, health insurers have been delaying authorisations required for cost and treatment schedules. Market analysts expect to see an improvement in this situation and a concomitant increase in demand in the second half of the year. Having implemented a strict regime of cost management, the company managed to scale back expenses further in the first three months of 2005. The additional measures initiated and in some cases already executed will be stepped up in the coming months. Thus, the management has reaffirmed its forecast of a significant reduction in the companys operating loss.
The full quarterly report can be accessed on the corporate website at www.curasan.de, Investor Relations section in the course of this afternoon.
end of ad hoc announcement 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
end of announcement euro adhoc 12.05.2005 08:26:27
Further inquiry note:
Ralph Wintermantel, curasan AG, Tel. 06027/46 86 468, e-mail:
ir@curasan.de
Dr. Erwin Amashaufer, curasan AG, Tel. 06027/46 86 0, 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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