- Gross sales in the first quarter rose by 15.9 percent to EUR 1.89 million
- Net profit improved by 8.7 percent to -0.46 million euros
- Main drivers are growth regions MENA, Asia and Europe
Kleinostheim, 18 May 2017 - curasan AG (ISIN DE0005494538), a leading specialist for medical products in the field of orthobiologics, has continued to grow dynamically at the start of the year. Gross sales increased by 15.9 percent to EUR 1.89 million (Q1 2016: EUR 1.62 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) improved by 3.4 percent (Q1 2016: -0.45 m EUR), while earnings before interest and taxes (EBIT) remained virtually unchanged at -0.45 million euros (Q1 2016: -0.45 m euros). However, due to lower interest expense, the net result rose slightly as well by 8.7 percent to -0.46 million euros (Q1 2016: -0.50 m euros).
The consideration of the sales performance according to regional aspects shows that the clear growth of almost all regions was dynamically supported. In Europe, sales rose by 10.6 percent to EUR 0.66 million, in MENA sales more than doubled, rising by 128.6 percent to EUR 0.26 million. In Asia, growth was 7.6 percent, with sales of a total of EUR 0.40 million, while the US markets increased by 7.7 percent to EUR 0.46 million.
Cash and cash equivalents decreased by 78.7 percent to EUR 0.21 million (31.12.16: 1.01 EUR) as of the balance sheet date, whereas trade receivables increased by 11.6 percent to 2.35 million Euro (31.12.16: 2.11 mEUR). At the same time, trade payables rose by 22.2 percent to EUR 1.05 million (31.12.16: 0.86 mEUR). Shareholders' equity fell by 4.8 per cent to EUR 8.52 million, compared to EUR 8.95 million as of the end of 2016.
"We have shown a strong first quarter and our sales are growing across the board in all regions," explains Michael Schlenk, CEO of curasan AG. "As projected, we will continue to invest heavily in marketing and registrations for this growth. Since the beginning of the second quarter and under the direction of the Finance Department by our new CFO, Christine Uekert, we are also taking a new approach in terms of our receivables management as well as the working capital and achieving good success here." In addition, the company announced, with the publication of the 2016 Annual Report, that a capital increase would be implemented in the current financial year. "Our dynamic and sustainable growth is well recognized by institutional investors as well as strategic ones. A good basis for a further growth financing", Schlenk adds.
Further details on the quarterly figures published today as well as current developments in the second quarter will be discussed by the CEO today at 2.00 pm in the course of an open telephone conference for analysts, qualified investors and journalists. You can register by e-mail via the Investor Relations and Corporate Communications departments (IR@curasan.com).
The complete report on the first quarter of 2017 has been made available by curasan on the Company's website at the following link:
Contact curasan AG:
Head of Investor Relations
+49 6027 40 900-45
+49 174 90 911 90
Head of Corporate Communications
+49 6027 40 900-51
About curasan AG:
curasan develops, manufactures and markets biomaterials and medical devices in the field of bone and tissue regeneration, wound healing and osteoarthritis therapy. As a pioneer and global technology leader in the growing field of regenerative medicine, curasan is specialized primarily on biomimetic bone grafting materials for dental, oral/maxillofacial, orthopedic and spinal applications, i.e. materials mimicking biological structures. Numerous patents and a broad record of scientific publications demonstrate the clinical success of the products and the highly innovative strength of curasan. Dental and orthopaedic clinicians worldwide benefit from the broad range of the premium quality and easy to use portfolio offered by the technology leader curasan. curasan maintains its own high-tech facilities for research, development and manufacturing of biomaterials in Frankfurt/Main, Germany. In addition to its headquarters, the company has a subsidiary, curasan, Inc., in the Research Triangle Park area, near Raleigh, N.C., USA. curasan's innovative products are cleared by the US Food and Drug Administration (FDA) and many other international authorities and available in almost 50 countries worldwide. curasan AG is a public company listed in the General Standard at the Frankfurt Stock Exchange.
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