curasan increases sales considerably in the first quarter
DGAP-News: curasan AG / Key word(s): Quarterly / Interim Statement
- Net group revenues with EUR 1.7 million 9 % above previous year
- Turnover in the Middle East recovers and exceeds previous year significantly
- Outlook for full year 2019 confirmed
Accordingly, net group revenues of EUR 1.69 million (Q1 2018: EUR 1.53 million) turned out about 9 percent higher than in the previous year. Earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR -0.68 million declined mostly caused by expenses for the extraordinary general meeting in January as well as for the preparation and issuance of convertible bonds (Q1 2018: EUR -0.47 million). Earnings before interest and taxes (EBIT) also fell short below previous year's level caused by the special effects mentioned before (Q1 2018: EUR 0.72 million). The first quarter 2019 raises hopes for massive improvements in turnover and profit for 2019 and confirms the forecast.
The key financial figures on the development of earnings in the first quarter of 2019 are as follows:
The gross margin almost matched the previous year's level. The company assumes that this key figure will continue to improve significantly.
Turnover by regions developed as follows in the first quarter:
As expected, sales in Asia remained behind the strong corresponding quarter of the previous year, partly due to extraordinary revenues in Vietnam in the first quarter of 2018. Based on purchase commitments of the Asian distribution partners Management expects to be able to catch up the missing sales in Asia by the end of the year. Revenues in the Middle East have more than doubled compared to the same period in the previous year. America has recorded a slight increase so far. The company still expects strong growth in this area in particular in the field of orthopedics. Revenues in Europe grew in line with expectations and are expected to further improve thanks to distribution partners won in Germany in the previous year.
Other key financial ratios in the first quarter can be seen from the following table:
Against the backdrop of the start of the year in line with the forecast and the development to be expected in the further course of the year the Management Board holds on to the outlook for the development of revenues and profit for 2019 in an unchanged form.
The audited interim report for the first half of 2019 will be published on August 22, 2019. Further information on the curasan group and its affiliated subsidiaries can be found at www.curasan.de.
About curasan AG:
23.05.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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