EANS-Adhoc: CURANUM AG
Publishing the key figures Q1/ 2010
-------------------------------------------------------------------------------- ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------------
quarterly report
12.05.2010
Ad hoc announcement
CURANUM AG publishes results for first quarter of 2010:
Further increase in revenue
In the first quarter of 2010 revenue generated by CURANUM AG, Munich, grew byEUR 1.1 million compared with the first quarter of 2009, rising from EUR 63.1 million to EUR 64.2 million. The increase results mainly from revenue of EUR 0.9 million that was generated by our new "Alten- und Pflegeeinrichtung Am Stöckheimer Markt" facility in Braunschweig, and additional revenue for care services focusing on occupants suffering from dementia.
The personnel expense rose by EUR 0.6 million from EUR 32.1 million in the first quarter of 2009 to EUR 32.7 million in the current reporting period. This particularly reflected greater staff costs at our facilities totaling EUR 0.9 million, including EUR 0.3 million of staff costs for our new facility in Braunschweig. This increase was offset by a EUR 0.3 million personnel cost reduction in our head companies' administration area.
Earnings before interest, tax, depreciation and amortization (EBITDA) fell by EUR 0.3 million in the current reporting period to EUR 6.1 million (previous year: EUR 6.4 million). Consequently, the EBITDA margin edged down from 10.1% to 9.5% in the first quarter of 2010. Earnings before interest and tax (EBIT) fell by EUR 0.3 million, from EUR 4.0 million in the first quarter of 2009 to EUR 3.7 million in the first quarter of 2010.
Our net financial result improved slightly by EUR 0.1 million to EUR -2.2 million in the reporting period (previous year: EUR -2.3 million). Earnings after tax in the first quarter of 2010 fell by EUR 0.3 million to EUR 0.8 million (previous year: EUR 1.1 million), as a consequence of which earnings per share (EPS) went from EUR 0.04 in the first quarter of 2009 to EUR 0.03 in the first quarter of 2010.
Cash flow from operating activities rose by EUR 3.9 million to EUR 6.5 million during the period under review (previous year: EUR 2.6 million). This reflected a significantly lower working capital reduction of EUR 0.5 million in the first quarter of 2010 compared with the first quarter of 2009 (EUR -4.2 million), lower formation of provisions, and a EUR 0.2 million rise in income tax receipts to EUR 0.8 million in the current reporting period.
Equity rose by EUR 0.6 million, from EUR 66.1 million as of December 31, 2009 to EUR 66.7 million as of the March 31, 2010 balance sheet date. The equity ratio rose slightly to 28.23% (December 31, 2009: 27.96%).
Although utilization in our facilities was stable in the first quarter of 2010, it proved very difficult to maintain as the result of a higher mortality rate, and a trend towards shorter stays on the part of our occupants. We are assuming that this trend will improve over the further course of the business year. With a look to the 2010 financial year, we continue to budget total revenue of between EUR 264.6 million and EUR 266.5 million (excluding acquisitions and care rate increases), EBITDA of between EUR 28.5 million and EUR 30.0 million, and net income of between EUR 6.5 million and EUR 7.5 million.
Further information is available at our website www.curanum.de under the Investor Relations menu item.
Munich, May 12, 2010
The Management Board
|Key figures IFRS as of March 31,| | | | |2010 | | | | | | | | | | |mil. EUR |Q1/2010|Q1/2009 |YoY in % |FY '2009 | | | | | | | |Sales |64.2 |63.1 |1.74 |259.5 | |Staff costs |32.7 |32.1 |1.87 |130.5 | |EBITDAR |19.9 |20.2 |-1.49 |83.1 | |Rental costs |13.8 |13.9 |-0.72 |55.5 | |EBITDA |6.1 |6.4 |-4.69 |27.6 | |in % of Sales |9.5% |10.1% | |10.6% | |Depreciation |2.4 |2.4 |0.00 |9.8 | |EBIT |3.7 |4.0 |-7.50 |17.8 | |in % of Sales |5.8% |6.3% | |6.9% | |Financial results |-2.2 |-2.3 |-4.35 |-8.9 | |EBT |1.5 |1.7 |-11.76 |8.9 | |Net profit |0.8 |1.1 |-27.27 |5.8 | |EPS (EUR)* |0.03 |0.04 |-25.00 |0.18 | | | | | | | |Cash Flow |6.5 |2.6 |150.00 |19.9 | |CPS (EUR)* |0.2 |0.08 |150.00 |0.62 | | | | | | | |Cash and cash |9.9 |7.2 |37.50 |8.9 | |equivalents | | | | | |Equity capital |66.7 |67.0 |-0.45 |66.1 | |in % of balance sheet |28.2 |27.8 |1.44 |28.0% | |total | | | | | |Balance sheet total |236.3 |241.2 |-2.03 |236.4 | | | | | | | |Employees |6,152 |5,985 |2.79 |6,055 | |Facilities |69 |68 |1.47 |69 | |Care places |7,802 |7,692 |1.43 |7,805 | |Assisted living |1,679 |1,681 |-0.12 |1,681 | |apantements | | | | | | | | | | | |*) Number of underlying outstanding shares in Q1 / | | |2010: 32.267.835 shares | | |*) Number of underlying outstanding shares in Q1 / | | |2009: 32.524.196 shares | | |*) Number of underlying outstanding shares in 2009: | | |32.267.835 shares | |
end of announcement euro adhoc --------------------------------------------------------------------------------
Further inquiry note:
Bettina Pöschl
Tel. +49(0)89-242065-69
E-Mail: bettina.poeschl@curanum.de
Branche: Healthcare Providers
ISIN: DE0005240709
WKN: 524070
Index: SDAX, CDAX, Classic All Share, Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / regulated dealing
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