euro adhoc: curasan AG
Quarterly or Semiannual Financial Statements
/ Revenue increase of 51 per cent in Q3 2004
Readjustment of revenue and earnings forecast for 2004
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Kleinostheim, November 9, 2004 curasan AG (WKN 549 453) today announced its preliminary results for the first nine months ended September 30, 2004. 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 the first nine months of 2004, revenues generated by continuing operations increased by 34%, up from EUR 4.3 million to EUR 5.8 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 12.8 million. The loss before interest and taxes for the remaining business unit was reduced from EUR 3.5 million to EUR 2.3 million. As a result of corporate streamlining, the total headcount stood at 74 at the end of the quarter, compared with 95.
The company recorded a year-on-year revenue increase of 51% in the third quarter of the 2004 financial year. However, third-quarter performance fell short of the targets originally set by curasan. The Biomaterials business unit, in particular, performed at a level that was well below the specified target. The company has yet to offset the shortfall in revenues attributable to a change in its distribution structure in the US. Based on current sales figures and the backlog of orders as at October 2004, the Management Board is of the opinion that the companys target of EUR 10 million in revenues and minus EUR 0.5 million in earnings will not be met, or exceeded, until 2005.
The companys forecast for the full 2004 financial year has been adjusted to approx. EUR 8 million in terms of revenues generated and a net loss of EUR 2 million.
The full quarterly report can be accessed on November 11, 2004, at www.curasan.de, Investor Relations section.
End of Ad hoc-Release
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 09.11.2004 08:14:10
Further inquiry note:
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
Branche: Biotechnology
ISIN: DE0005494538
WKN: 549453
Index:
Börsen: Bayerische Börse / free trade
Baden-Württembergische Wertpapierbörse / Regulated free trade
Original content of: Curasan AG, transmitted by news aktuell