Eckert & Ziegler achieves best six-month result and raises profit forecast

22-Jul-2009 - Germany

According to preliminary evaluations, Eckert & Ziegler Strahlen- und Medizintechnik AG made its highest six-month turnover to date, EUR 52 million, in the first half of the 2009 fiscal year. It also had its best six-month result to date after taxes and minority interests at approx. EUR 3.9 million (EUR 1.06 per share), almost twice the result for the corresponding period last year. The Board of Directors is therefore increasing the FY 2009 forecast of profits after tax and minority interests from EUR 1.10 per share or EUR 4 million to approximately EUR 6.6 million or EUR 1.80 per share. Any special effects arising from partial or total release of provisions in conjunction with the legal dispute regarding IBt (EUR 7.1 million) have not been considered in this forecast.

This good six-month result is due to the solidification of increases in turnover and earnings in the core business which became visible in the first quarter. The core business contributed to a result of approximately EUR 0.40 per share in the second quarter. To this was added a significant contribution to earnings and liquidity in the Therapy segment from the Russian business, and this is expected to continue for the next few quarters. International Brachytherapy S.A. (IBt), an associated company of Eckert & Ziegler AG, had recently set up a joint venture with a Russian state fund corporation to manufacture prostate cancer implants in Russia and has now begun supplying plants and equipment. Developments in the largest business segment, Nuclear Medicine and Industry, were also encouraging. The six-month result after tax and minority interests was EUR 3.1 million, approximately 50% more than was earned in the same period last year (EUR 2.1 million). This means that Eckert & Ziegler Nuclitec GmbH was integrated into the Group more quickly and more cheaply than planned. Further improvements are expected in the second half of the year from gradual optimization taking place in procurement, logistics and sales. The Radiopharmaceuticals segment continues to make a profit despite high launch costs for new products.

The exact figures for the six-month period will be made public on August 4, 2009.

https://www.bionity.com/en/news/103585/eckert-ziegler-achieves-best-six-month-result-and-raises-profit-forecast.html