Corporate | 26 April 2013 07:30
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MeVis Medical Solutions AG / Key word(s): Final Results
MeVis’ profitability further increased in 2012 MeVis Medical Solutions sees slight fall in sales, substantial reduction in costs, and significant earnings improvements
Bremen, April 26, 2013 – MeVis Medical Solutions AG [ISIN: DE000A0LBFE4], a leading software provider for the medical imaging market, has released the final results for its 2012 fiscal year. Earnings and liquidity could be increased significantly despite a slight decline in sales. 2012 group revenues fell by 2 % to EUR 13.3 m. While sales of new licenses declined by 8 %, revenues from maintenance contracts continued to do well and grew throughout the Group by 8 %, now representing 45 % of total net sales (previous year: 41 %). Reporting a 3 % decline in segment sales to EUR 10.1 m, the Digital Mammography segment was once again the top performer in the Group over the last fiscal year. The segment’s net profit amounted to EUR 5.2 m (previous year: EUR 5.6 m). Net sales in the Other Diagnostics segment grew slightly to EUR 3.2 m. Maintenance revenues have substantially increased in this segment as well: Standing at EUR 0.9 m, they now account for 29 % of the segment’s total sales (previous year: 24 %). Costs have been substantially reduced again in 2012: Personnel costs declined by EUR 1.1 m to EUR 8.1 m and other operating expenses by EUR 0.7 m to EUR 2.3 m. Depreciation and amortization decreased to EUR 3.0 m (previous year: EUR 6.1 m, including a one-off impairment loss of EUR 2.5 m). Due to the cost reduction measures, earnings before interest and taxes (EBIT) increased to EUR 3.0 m (previous year: EUR 1.2 m before extraordinary items) thereby reaching an EBIT margin of 22 %. The Group financial result improved from EUR -1.3 m to EUR -0.6 m, based on earnings improvements of the Dutch company Medis where we hold a 41 % stake. After tax expenses of EUR 0.2 m (previous year: EUR 1.2 m), the consolidated net result for the period came to EUR 2.0 m (previous year: EUR -4.1 m) which corresponds to earnings per share of EUR 1.26 (previous year: EUR -2.38). During the fiscal year 2012, liquidity increased by EUR 1.2 m to EUR 8.7 m. In addition, a last purchase price payment of EUR 1.4 m was paid out of the operating cash flow, thus in total EUR 2.6 m liquidity could be generated in 2012. The equity ratio increased from 64 % to 74 %. Dr. Robert Hannemann, CFO at MeVis Medical Solutions AG, said, ‘Based on the development of our new license business, we expect another slight revenue decline in the current fiscal year. By expanding our conservative approach to capitalization of development expenses, we will minimize balance sheet risks but also impact current year’s EBIT. As a result, we expect a slight EBIT decline this year.’ Marcus Kirchhoff, Chairman of the Executive Board and CEO of MeVis Medical Solutions AG, added: ‘In order to increase revenues in the years to come, we intend to broaden our relationships with existing customers, to acquire new industrial customers, and to establish new sales channels. The successful execution of the group consolidation brought us into a liquidity and cost position which provides us with sufficient financial leeway to pursue interesting growth opportunities.’ Due to the current developments and market conditions, the Executive Board will provide further details about its business forecast during the course of the current fiscal year. The financial reports of the company can be downloaded at http://www.mevis.de/ir_finanzberichte.html. End of Corporate News 26.04.2013 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
| Language: | English | |
| Company: | MeVis Medical Solutions AG | |
| Caroline-Herschel-Str. 1 | ||
| 28359 Bremen | ||
| Germany | ||
| Phone: | +49 421 224 95 0 | |
| Fax: | +49 421 224 95 999 | |
| E-mail: | ir@mevis.de | |
| Internet: | http://www.mevis.de | |
| ISIN: | DE000A0LBFE4 | |
| WKN: | A0LBFE | |
| Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, München, Stuttgart | |
| End of News | DGAP News-Service |
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| 208643 26.04.2013 |