Export sales of curasan continue to rise
- Net sales for the first nine months increase by 5 percent to EUR 4.73 million
- Export share continues to follow the growth trend with 81 percent
- Second tranche of the capital increase shortly before implementation
Kleinostheim, 9 November 2017 - curasan AG (ISIN DE0005494538), a leading specialist for medical products in the field of orthobiologics, has further consolidated its export business in the third quarter. As in the first half of the year, the export share of net sales after the first nine months of the financial year was 81 percent higher than the previous year's figure of 79 percent.
Net sales increased by 5 percent to EUR 4.73 million in the reporting period (9M 2016: EUR 4.51 m). Earnings before interest, taxes, depreciation and amortization (EBITDA) at EUR -1.87 million were 14 percent down on the previous year (9M 2016: EUR -1.64 m). At EUR -2.91 million, net income was 38 percent lower (9M 2016: EUR -2.11 m). The reasons for the decline in earnings are due to unexpected sales shifts caused by supply and production bottlenecks, time-consuming sales partner acquisition and the estimated one-off tax burden from the potential additional payment from 2008.
"In the first nine months we have grown again, which first of all is a very positive signal and strengthens us on our path," explains Michael Schlenk, CEO of curasan AG. "At the same time, we expected a lot more. To our detriment, several negative individual effects came together in recent months, which in total meant that we were unable to realize the expected sales growth and that our growth will be postponed until next year. "
Once again, the foreign sales of the company developed positively. With growth of 7.6 percent to EUR 1.32 million in the Americas region and 83 percent to EUR 0.67 million in the MENA region, overall sales momentum for exports continued unchanged. By contrast, sales in Germany declined, which also led to a slightly weaker overall sales in Europe. Sales in Germany picked up again in the third quarter. However, the change of a sales partner in the second quarter still left its mark in the third quarter.
In September, curasan announced the implementation of a rights issue capital increase. The first tranche of the transaction was successfully concluded at the beginning of October with a nominal volume of EUR 2,275,786.00. In the next few days, the company expects to carry out the second tranche with a nominal volume of EUR 1,876,070.00, which will be signed by the strategic investor Chindex Hong Kong Ltd., a subsidiary of the Chinese Fosun Group, for a price of EUR 1.20. With this curasan AG will receive gross proceeds of EUR 2.3 million.
Further details on the results for the first nine months of 2017 as well as current developments in the fourth quarter will be discussed today by CEO Michael Schlenk at 2:00 pm CET today in an open conference call for analysts, qualified investors and journalists. You can register by e-mail via the Investor Relations and Corporate Communications departments (IR@curasan.com).
The full report on the nine months of 2017 has been provided by curasan on the Company's website at the following link: www.curasan.de/investoren/publikationen/finanzberichteContact curasan AG: Investor Relations & Corporate Communications +49 6027 40 900-51 firstname.lastname@example.orgAbout 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.
09.11.2017 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: curasan AG Lindigstraße 4 63801 Kleinostheim
Germany Phone: 06027/40 900 0 Fax: 06027/40 900 29 E-mail: email@example.com Internet: www.curasan.de ISIN: DE0005494538 WKN: 549453 Listed: Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange End of News DGAP News Service