17.11.2014
MeVis Medical Solutions AG DE000A0LBFE4
DGAP-News: MeVis Medical Solutions AG: MeVis reports strong third quarter
DGAP-News: MeVis Medical Solutions AG / Key word(s): 9-month
figures/Interim Report
MeVis Medical Solutions AG: MeVis reports strong third quarter
17.11.2014 / 07:40
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MeVis reports strong third quarter
Earnings per share after first three quarters 17 % higher year on year
- Third quarter sales of EUR 3.6 million exceed first two quarters of
2014 (prev. year: EUR 3.6 million)
- Sales of EUR 9.7 million after first three quarters in line with
previous year
- Share of maintenance business remains stable at 44 % (prev. year: 45 %)
- Earnings before interest and taxes (EBIT) slightly lower at EUR 3.2
million (prev. year: EUR 3.5 million), but EBIT margin remains strong
at 33 %
- Profit for the period up sharply to EUR 3.5 million (prev. year: EUR
2.9 million) thanks to good financial result
- Earnings per share up 17 %, from EUR 1.71 to EUR 2.01
- Liquidity of EUR 15.5 million as of September 30, 2014 (end of 2013:
EUR 13.5 million)
- Software solution for lung screening complete, first industrial
customer acquired
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 10th,
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
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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.
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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: [email protected]
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
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