Corporate | 17 November 2014 07:40
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MeVis Medical Solutions AG / Key word(s): 9-month figures/Interim Report
Earnings per share after first three quarters 17 % higher year on year
Bremen, November 17, 2014 – MeVis Medical Solutions AG [ISIN: DE000A0LBFE4], a leading medical imaging software company, today announced its results for the first three quarters of 2014. Sales in the third quarter of 2014 amounted to EUR 3,599 k, slightly above the previous year’s level (EUR 3,554 k) and well in excess of the first two quarters of 2014. Sales in the first nine months were just slightly lower year on year at EUR 9,661 k (prev. year: EUR 9,712 k). Sales in the new license business stabilized at EUR 5,067 k (prev. year: EUR 5,034 k), while sales in the maintenance business were down slightly by 3 % to EUR 4,293 k, accounting for 44 % of total sales. Sales in the Digital Mammography segment improved by 3 % to EUR 7,280 k (prev. year: EUR 7,087 k) while sales in the Other Diagnostics segment fell by 9 % to EUR 2,381 k (prev. year: EUR 2,625 k). Operating costs rose in the reporting period 2014 primarily on the back of higher staff costs, which increased by 6 % to EUR 5,208 k (prev. year: EUR 4,895 k), particularly due to minor salary increases and a slight increase in the number of employees. Other operating expenses rose by 18 % to EUR 1,542 k (prev. year: EUR 1,303 k), which was partly offset by the transfer of costs to the MeVis BreastCare joint venture, as is reflected in the sharp increase in other operating income. Capitalized development expenses rose slightly to EUR 1,163 k (prev. year: EUR 1,075 k). However, this figure is expected to subside considerably in future. EBITDA (earnings before interest, taxes, depreciation and amortization) was down by 7 %, from EUR 4,697 k to EUR 4,373 k year on year due to higher costs and the fact that sales remained more or less stable. Depreciation and amortization came to EUR 1,223 k, on par with the previous year, resulting in EBIT (earnings before interest and taxes) of EUR 3,150 k (down a sharp 10 % on the previous year’s figure of EUR 3,485 k); the EBIT margin remained strong at 33 % (prev. year: 36 %). The financial result was up sharply by EUR 1,100 k to EUR 775 k year on year, thanks mainly to the development of the US dollar, the considerable improvement in earnings at joint venture MeVis BreastCare and higher interest income. Tax expenses increased by EUR 258 k to EUR 469 k. After-tax earnings increased by EUR 507 k to EUR 3,456 k, which is equivalent to earnings per share of EUR 2.01 (prev. year: EUR 1.71). Cash and cash equivalents were up by a considerable EUR 2,069 k to EUR 15,519 k as of September 30, 2014 compared to the end of 2013. “In view of the development of business so far, we are very confident that we can meet our forecast for the year,” commented Dr. Robert Hannemann, CFO of MeVis Medical Solutions AG. “Given that fiscal year 2013 was very successful, we anticipate a slight decline in sales to between EUR 12.0 million and EUR 12.5 million in 2014. The development of EBIT will in our view be significantly impacted by the expected slight decline in sales and a marginal increase in costs. We also anticipate considerably lower capitalized development expenses in the fourth quarter. We expect EBIT to fall slightly to between EUR 3.0 million and EUR 3.5 million. Liquidity is forecast to rise to between EUR 15.0 million and EUR 16.0 million in 2014 as a result of sustained positive cash flows from operating activities”. “We are pleased that we were able to complete our Veolity software solution for the growth market of lung cancer screening in the third quarter,” states Marcus Kirchhoff, CEO of MeVis Medical Solutions AG. “The conclusion of a contract with an important industrial customer in the third quarter confirms our conviction that other market players see lung screening as a lucrative market.” Mr. Kirchhoff added: “We very much welcome the decision of the CMS (Centers for Medicare & Medicaid Services) of November 10 th , 2014 that the national health insurances Medicare and Medicaid will assume the reimbursement of costs for lung screening in the United States. Through this decision a lung screening program throughout the United States can be implemented in the coming years.” The Company’s financial reports can be downloaded from the following website: http://www.mevis.de/ir_finanzberichte.html?&L=1 17.11.2014 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. 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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| 297437 17.11.2014 |