Eckert & Ziegler Strahlen- und Medizintechnik AG

Quarterly Report • Nov 20, 2017

KEY DATA ECKERT & ZIEGLER

		1–9/2017	1–9/2016	Change
Sales	€ million	100.4	89.5	+12%
Return on revenue before tax	%	14%	14%	–0%
EBITDA	€ million	20.9	19.5	+7%
EBIT	€ million	14.8	13.4	+11%
				+12%
				+18%
				+63%
				+63%
				+117%
non-current assets*	€ million	6.1	6.1	+0%
Staff as end of period	Persons	764	664	+15%
EBT Net income before other shareholder's interest Net income Earnings per share (basic) Operational cash flow Depreciation and amortization on	€ million € million € million € € million	14.4 9.5 12.3 2.32 20.5	12.9 8.0 7.5 1.43 9.4

* including discontinued operations

MILESTONES

LARGE-SCALE ORDER IN FINLAND

A special system for testing irradiated metal was developed for the leading Scandinavian research institute VTT Technical Research Centre of Finland (Helsinki). The highly automated system was successfully installed and handed over to the customer in August.

25 YEARS OF ECKERT & ZIEGLER

Eckert & Ziegler celebrated 25 successful years on July 11, 2017, with a ceremony attended by the Mayor of Berlin and about 300 guests from the political and economic spheres, as well as our own employees.

CE MARK FOR BRACHYTHERAPY TEMPLATE

CT/MR M.A.C. Interstitial GYN Template for interstitial HDR brachytherapy obtained interstitial high dose rate brachytherapy of the vagina, cervix, endometrium and parametrium in combination with the Eckert & Ziegler BEBIG SagiNova®

AWARDS FOR YOUNG NUCLEAR MEDICINE RESEARCHERS

Eckert & Ziegler travel grants are awarded for the tenth time to outstanding young scientists in the field of nuclear medicine at the annual congress of the European Association of Nuclear Medicine (EANM) in Vienna.

BUSINESS DEVELOPMENT OF THE ECKERT & ZIEGLER GROUP

STRONG SALES IN Q3 CONFIRM HIGH EXPECTATIONS FOR FULL YEAR

The Eckert & Ziegler Group's successful business development in the first two quarters of 2017 continued in the third quarter. The nine-month figures set new records in sales, earnings and cash and cash equivalents.

The purchase of the Gamma-Service Group and further strong sales in the Radiopharma segment more than compensated for the drop in sales caused by the disposal of the Cyclotron division. Because income and sales from discontinued operations must be reported separately in accordance with IFRS 5 (just as with non-current assets held for sale), the following figures and notes relate only to the other continuing operations, unless otherwise stated.

Sales

At € 100.4 million, Group sales were 12% above the prior year's level of € 89.5 million at the end of the third quarter of 2017. The main reasons for the sales increase were stable growth in the Devices division of the Radiopharma segment and the first sales generated by the Gamma-Service Group acquired at the end of May. Currency effects had no impact on sales. Organic, real sales growth – in other words, sales adjusted for currency effects and excluding the acquisitions and disposals made in 2016 and 2017 – came to € 5.4 million.

Excluding the adjustments required under IFRS 5, the Group recorded total sales of € 106.6 million in the third quarter of 2017, compared with € 103.1 million in the prior year's period.

The Radiopharma segment continues to be the growth driver. If the discontinued Cyclotron division is excluded, year-on-year growth was € 5.0 million or 32%. In the USA in particular, the company further increased its year-onyear sales.

Sales in the Radiation Therapy segment rose by € 0.4 million or 3% to € 18.3 million.

The newly acquired Gamma-Service Group is included in the Isotope Products segment. The sales generated by the products and services of the newly acquired companies played a key part in enabling this segment to also increase its year-on-year sales by € 5.5 million or 9% to € 63.7 million.

Income (profit for the year)

The Group's earnings per share rose to € 1.72, increasing compared with the prior year's quarter by € 0.22 per share or 15%. If the discontinued operations are included, earnings per share came to € 2.32 as of the nine-month reporting date.

The improved financial performance is primarily the result of increased sales with profitable products. If the continuing operations only are included, the gross profit margin went up by € 2.9 million, which represents an improvement of 6.5% compared with the prior year's period.

The selling and administrative costs rose by a mere € 0.3 million. Other income and expenses went up by € 0.4 million. Net financial income was down € 0.7 million due to currency effects.

With a result for the period of € 0.8 million, the Radiation Therapy segment again recorded a profit and improved its figure by € 1.2 million compared with the same period of the prior year. A provision of € 0.3 million was recognized at the end of September for disputed waste disposal costs. Without this effect, the result would have been even better.

The Isotope Products segment continues to generate strong and stable earnings. However, initial costs for the integration of the new companies and unfavorable shifts in the product mix caused earnings per share to fall by € 0.30 compared with the prior year to € 0.85. A long-standing systems contract with a Finnish client was successfully ended and settled in August. The project belonged to the Gamma-Service Group, which was newly acquired in May. In accordance with IFRS (IAS 11), revenue from construction contracts is recognized based on the stage of completion. As a result, only a small percentage of the revenue occurred in the period since the purchase of the company. Nevertheless, a concluding payment of € 2.1 million was received.

LIQUIDITY

Cash flow from operating activities rose by € 11.0 million, thereby doubling to € 20.4 million. The main reason for this was the € 5.0 million increase in the result for the period, which was largely due to a profit of €4.7 million from the sale of shares in consolidated companies. The proceeds from the sale were recognized in cash flow from investing activities and were therefore not included in cash flow from operating activities.

Net current assets performed well. While the volume of business increased, receivables fell by € 1.2 million since the start of the year, which was almost the same as the value in the prior year's period (€ 1.5 million). Non-cash transactions increased by € 0.8 million compared with the prior year's period. Liabilities and provisions were increased by € 0.2 million, while they rose by € 5.4 million in 2016. The inflow of liquidity from the reduction in other current assets amounted to € 1.7 million. This item led to cash outflow of € 1.0 million in the prior year's period.

With regard to cash flow for investing activities, there was cash inflow of € 5.1 million in September 2017, while cash outflow of € 2.1 million was recorded in the same period of the prior year. € 3.4 million was used to acquire assets, which was € 0.6 million less than in the prior year's period. € 5.9 million was spent on the acquisition of consolidated companies. Of this figure, a net amount of € 5.6 million was spent on the purchase of the Gamma-Service Group. € 7.9 million in cash was paid, while € 2.3 million in liquidity was acquired in return. € 12.2 million in cash was received as a result of the sale of the Cyclotron division. When the shares in OctreoPharm Sciences GmbH were sold in 2015, a portion of the proceeds from the sale was initially deposited in a fiduciary account. After the contractually agreed retention period ended, Eckert & Ziegler Group received a payment of € 2.1 million in July 2017 for its share from the fiduciary account.

The existing loans continued to be paid back on schedule. € 4.2 million was used for this purpose in the first half of 2017, with € 2.8 million being repaid in the comparable prior year's period. As a result of the extraordinary dividend paid out to mark the 25th anniversary of the Eckert & Ziegler Group, the cash outflow for the dividend payment rose from € 3.2 million in the prior year to € 3.5 million in the current year. Another € 0.4 million was used in the comparable prior year's period for the distribution of minority interests. A distribution to minority interests of € 0.1 million was made in the reporting period.

€ 0.6 million was spent on the purchase of equity instruments in the reporting period. These were contractually agreed installment payments for the company shares already acquired from minority shareholders in the preceding years.

Overall, cash and cash equivalents as of September 30, 2017, have increased € 16.4 million since the end of 2016 to a current € 53.0 million. Net liquidity, in other words cash less bank liabilities, increased by € 25.3 million to € 50.2 million.

BALANCE SHEET

The balance sheet total as of the end of September 2017 rose from € 199.5 million as against the end of 2016 to € 206.4 million. On the assets side, the increase is primarily reflected in a € 4.9 million rise in goodwill (resulting from the acquisition of the Gamma-Service Group) and growth in cash and cash equivalents of € 16.4 million.

By contrast, intangible assets fell by € 3.2 million and property, plant and equipment by € 5.5 million. Trade receivables were reduced by € 1.7 million. Other assets declined € 3.4 million.

On the liabilities side, loan liabilities were reduced by € 8.9 million to a total of just € 2.8 million at present. In addition to scheduled repayments, this decrease was largely due to the sale of the Cyclotron division. Trade liabilities also fell by € 3.0 million to € 3.4 million. This was offset by the increase in non-current provisions of €8.3 million to € 39.8 million and the rise in advance payments received of € 2.8 million to € 4.2 million. These changes were primarily attributable to the purchase of the Gamma-Service Group. Equity rose by € 5.0 million to € 115.1 million as of September 30. The equity ratio is thus still at a high level at 56%.

EMPLOYEES

The Eckert & Ziegler Group had a total of 764 employees worldwide as of September 30, 2017, 498 of whom worked in Germany. The number of employees grew by 100 compared with the prior year. The increase was due to the acquisition of the Gamma-Service Group in May of this year and the disposal of the Cyclotron division, also in May 2017.

OUTLOOK

As a result of the extraordinary income from the sale of the Cyclotron division, earnings of around € 2.80 per share are forecast for 2017, € 0.60 of which is due to extraordinary effects and discontinued operations. Sales of approximately € 140 million are expected.

	Quarterly Report III	Quarterly Report III	9-monthly Report	9-monthly Report
€ thousand	7–9/2017	7–9/2016	1–9/2017	1–9/2016
Continued operations
Revenues	35,605	28,580	100,422	89,482
Cost of sales	– 19,867	– 13,436	– 52,596	– 44,562
Gross profit on sales	15,738	15,144	47,826	44,920
Selling expenses	– 4,727	– 4,344	– 14,295	– 14,275
General and administrative expenses	– 5,143	– 6,356	– 17,097	– 16,856
Other operating income	210	421	1,390	2,212
Other operating expenses	– 1,271	– 738	– 2,200	– 2,591
Profit from operations	4,807	4,127	15,624	13,410
Other financial results	– 195	– 50	– 778	14
Earnings before interest and taxes (EBIT)	4,612	4,077	14,846	13,424
Interest received	40	23	97	75
Interest paid	– 153	– 248	– 563	– 640
Profit before tax	4,499	3,852	14,380	12,859
Income tax expense	– 1,837	– 1,403	– 4,848	– 4,810
Net income/loss from continued operations	2,662	2,449	9,532	8,049
Results from discontinued operations, net	2	166	3,161	– 402
Net income	2,664	2,615	12,693	7,647
Profit/loss attributable to minority interests	– 67	46	– 416	– 100
Profit attributable to the shareholders
of Eckert & Ziegler AG	2,597	2,661	12,277	7,547
Earnings per share from continued and
discontinued operations
Basic	0.49	0.50	2.32	1.43
Diluted	0.49	0.50	2.32	1.43
Earnings per share
Basic	0.49	0.31	1.72	1.50
Diluted	0.49	0.31	1.72	1.50
Average number of shares in circulation (basic)	5,288	5,288	5,288	5,288
Average number of shares in circulation (diluted)	5,288	5,288	5,288	5,288

CONSOLIDATED INCOME STATEMENT

GROUP STATEMENT OF COMPREHENSIVE INCOME
	9-monthly Report	9-monthly Report
€ thousand	1–9/2017	1–9/2016
Profit for the period	12,693	7,647
Of which attributable to other shareholders	416	100
Of which attributable to shareholders of Eckert & Ziegler AG	12,277	7,547
Items that could subsequntly be reclassified into the income statement if certain conditions are met
Adjustment of balancing item from the currency translation of foreign subsidiaries	– 3,825	– 699
Amount reposted to income statement	– 223	0
Adjustment of amount recorded in shareholders' equity (Currency translation)	– 4,048	– 699
Total of value adjustments recorded in shareholders' equity	– 4,048	– 699
Of which attributable to other shareholders	27	– 4
Of which attributable to shareholders of Eckert & Ziegler AG	– 4,075	– 695
Total from net income and value adjustments recorded in shareholders' equity	8,645	6,948
Of which attributable to other shareholders	443	96
Of which attributable to shareholders of Eckert & Ziegler AG	8,202	6,852

GROUP STATEMENT OF CASH FLOWS
	9-monthly	9-monthly
	Report	Report
€ thousand	1/1– 30/9/2017	1/1 – 30/9/2016
Cash flows from operating activities:
Profit for the period	12,693	7,647
Adjustments for:
Depreciation and value impairments	6,088	6,083
Non-cash release of deferred income from grants	– 82	– 55
Gains (–)/losses on the disposal of non-current assets	76	– 291
Profit/loss from the sale of shares consolidated companies	– 4,720	–
Change in the non-current provisions, other non-current liabilities	710	305
Change in other non-current assets and receivables	497	497
Miscellaneous	– 585	208
Changes in current assets and liabilities:
Receivables	1,163	1,457
Inventories	3,114	– 48
Accruals, other current assets	1,672	– 1,016
Change in the current liabilities and provisions	– 171	– 5,357
Cash inflows generated from operating activities	20,455	9,430
Cash flows from investing activities:
Purchase (–)/sale of non-current assets	– 3,371	– 3,977
Sales of fixed assets	18	2,371
Acquisitions of consolidated enterprises	– 5,865	– 225
Proceeds from the sale of consolidated companies accounted for
using the equity method	2,098	–
Sale of shares in consolidated companies	12,249	–
Acquisition of shares	–	– 303
Cash inflows/outflows from investment activity	5,129	– 2,134
Cash flows from financing activities:
Paid dividends	– 3,490	– 3,173
Distribution of shares of third parties	– 125	– 420
Change in long-term borrowing	– 1,710	– 1,496
Change in short-term borrowing	– 2,515	– 1,262
Aquisition of shares of consolidated companies	– 575	–
Cash outflows from financing activities	– 8,415	– 6,351
Effect of exchange rates on cash and cash equivalents	– 783	– 263
Increase/reduction in cash and cash equivalents	16,386	682
Cash and cash equivalents at beginning of period	36,567	31,466
Cash and cash equivalents at end of period	52,953	32,148

GROUP BALANCE SHEETS
€ thousand	30/9/2017	31/12/2016
ASSETS
Non current assets
Goodwill	45,291	40,422
Other intangible assets	9,371	12,542
Property, plant and equipment	32,348	37,823
Investments valuated according to the equity method	2,564	2,872
Deferred tax	9,355	9,000
Other non-current assets	2,555	2,860
Total non-current assets	101,484	105,519
Current assets
Cash and cash equivalents	52,953	36,567
Trade accounts receivable	21,486	23,208
Inventories	24,870	25,100
Other current assets	5,649	9,071
Total current assets	104,958	93,946
Total assets	206,442	199,465
EQUITY AND LIABILITIES
Capital and reserves
Subscribed capital	5,293	5,293
Capital reserves	53,500	53,500
Retained earnings	53,784	44,997
Other reserves	– 2,648	1,427
Own shares	– 27	– 27
Portion of equity attributable to the shareholders of Eckert & Ziegler AG	109,902	105,190
Minority interests	5,205	4,887
Total shareholders' equity	115,107	110,077
Non-current liabilities
Long-term borrowings	448	4,138
Deferred income from grants and other deferred income	2,619	1,524
Deferred tax	4,634	3,297
Retirement benefit obligations	11,916	11,802
Other provisions	39,789	31,515
Other non-current liabilities	3,147	3,481
Total non current liabilities	62,553	55,757
Current liabilities
Short-term borrowings	2,365	7,520
Trade accounts payable	3,432	6,390
Advance payments received	4,222	1,441
Deferred income from grants and other deferred income	101	147
Current tax payable	1,618	2,307
Current tax payable	3,743	3,743
Other current liabilities	13,301	12,083
Total current liabilities	28,782	33,631
Total equity and liabilities	206,442	199,465

STATEMENTS OF SHAREHOLDERS´EQUIT Y

		Subscribed capital			Cumulative other equity items
	Number	Nominal value	Capital reserve	Retained reserves	Unrealized profit securities	Unrealized profit pension commit ments	Foreign currency exchange differences	Own shares	Equity attributable to share holders' equity	Minority shares	Group share holders' equity
	Piece	€ thousand	€ thousand	€ thousand	€ thousand	€ thousand	€ thousand	€ thousand	€ thousand	€ thousand	€ thousand
As of January 1, 2016	5,292,983	5,293	53,500	39,681	0	– 2,282	3,530	– 27	99,695	4,973	104,668
Total of expenditures and income directly entered in equity	0	0	0	0	0	– 774	953	0	179	0	179
Net profit for the year				9,550					9,550	236	9,786
Total income for the period	0	0	0	9,550	0	– 774	953	0	9,729	236	9,965
Dividends paid/resolved				– 3,173					– 3,173	0	– 3,173
Purchase/sale of minority interests				– 1,061					– 1,061	– 322	– 1,383
As of December 31, 2016	5,292,983	5,293	53,500	44,997	0	– 3,056	4,483	– 27	105,190	4,887	110,077
As of January 1, 2017	5,292,983	5,293	53,500	44,997	0	– 3,056	4,483	– 27	105,190	4,887	110,077
Total of expenditures and income directly entered in equity	0	0	0	0	0	0	– 4,075	0	– 4,075	27	– 4,048
Net profit for the year				12,277					12,277	416	12,693
Total income for the period	0	0	0	12,277	0	0	– 4,075	0	8,202	443	8,645
Dividends paid/resolved				– 3,490					– 3,490	– 125	– 3,615
As of September 30, 2017	5,292,983	5,293	53,500	53,784	0	– 3,056	408	– 27	109,902	5,205	115,107

SEGMENTAL REPORT

		Isotope Products		Radiation Therapy	Radiopharma		Holding		Elimination		Total
€ thousand	Q3/2017	Q3/2016	Q3/2017	Q3/2016	Q3/2017	Q3/2016	Q3/2017	Q3/2016	Q3/2017	Q3/2016	Q3/2017	Q3/2016
Sales to external customers	61,513	56,110	18,271	17,735	20,628	15,624	11	13	0	0	100,422	89,482
Sales to other segments	2,216	2,182	36	89	0	3	4,222	3,637	– 6,475	– 5,911	0	0
Total segment sales	63,729	58,292	18,308	17,824	20,628	15,627	4,233	3,650	– 6,475	– 5,911	100,422	89,482
Segment profit before interest and profit taxes (EBIT)	7,633	9,507	1,219	– 190	6,512	4,672	– 498	– 543	– 20	– 21	14,846	13,424
Interest expenses and revenues	– 98	– 137	– 154	– 209	– 172	– 453	– 51	211	9	24	– 466	– 565
Income tax expense	– 2,901	– 3,560	– 35	– 209	– 1,899	– 1,369	– 13	328	0	0	– 4,848	– 4,810
Results from discontinued operations, net	0	– 186	0	0	3,161	– 216	0	0	0	0	3,161	– 402
Profit before minority interests	4,635	5,623	1,030	– 608	7,602	2,634	– 562	– 4	– 11	2	12,693	7,647

SEGMENTAL REPORT

	Isotope Products		Radiation Therapy		Radiopharma		Others		Total
€ thousand	Q3/2017	Q3/2016	Q3/2017	Q3/2016	Q3/2017	Q3/2016	Q3/2017	Q3/2016	Q3/2017	Q3/2016
Segmental assets	123,192	103,110	33,602	50,884	33,602	39,344	103,272	88,593	293,668	281,931
Elimination of inter-segmental shares, equity investments and receivables									– 87,226	– 87,440
Consolidated total assets									206,442	194,491
Segmental liabilities	– 64,148	– 53,105	– 12,781	– 19,438	– 18,619	– 29,194	– 4,164	– 2,249	– 99,711	– 103,986
Elimination of intersegmental liabilities									8,376	17,531
Consolidated liabilities									– 91,335	– 86,455
Investments (without acquisitions)	1,927	1,805	366	– 1,257	956	964	103	93	3,352	1,605
Depreciation	– 2,653	– 2,436	– 1,509	– 1,747	– 1,160	– 1,534	– 320	– 366	– 5,642	– 6,083
Non-cash income (+)/expenses (–)	– 513	– 1,104	75	414	– 2,048	30	993	2,527	– 1,493	1,867

	Q3/2017		Q3/2016
	€ million	%	€ million	%
Europe	48.9	49	41.0	46
North America	35.3	35	32.8	37
Asia /Pacific	8.9	9	9.4	10
Others	7.2	7	6.6	7
Total	100.4	100	89.8	100

SALES BY REGIONS

NOTES TO THE INTERIM FINANCIAL STATEMENTS

1. GENERAL INFORMATION

These unaudited consolidated interim financial statements as of September 30, 2017, comprise the financial statements of Eckert & Ziegler Strahlen- und Medizintechnik AG and its subsidiaries (hereinafter also referred to as "Eckert & Ziegler AG").

2. ACCOUNTING AND MEASUREMENT METHODS

The consolidated financial statements (interim financial statements) of Eckert & Ziegler AG as of September 30, 2017, have been prepared in accordance with the International Financial Reporting Standards (IFRS), as were the 2016 annual financial statements. All the standards of the International Accounting Standards Board (IASB), London, applicable in the EU on the reporting date as well as the valid interpretations of the International Financial Interpretations Committee (IFRIC) and the Standing Interpretations Committee (SIC) have been taken into consideration. The accounting and measurement methods detailed in the notes to the 2016 annual financial statements have been applied without any changes.

For the preparation of the consolidated financial statements in accordance with IFRS, it is necessary to make estimates and assumptions which affect the amounts and reporting of the assets and liabilities as well as income and expenses recognized. The actual figures may differ from the estimates. Significant assumptions and estimates are made for the useful life and net realizable value of assets, the recoverability of receivables and the recognition and measurement of provisions.

This interim report contains all the necessary information and adjustments that are required to give a true and fair view of the net assets, financial position and results of operations of Eckert & Ziegler AG for the interim report. The results recorded during the current financial year are not necessarily indicative of future results.

3. GROUP OF CONSOLIDATED COMPANIES

The consolidated financial statements of Eckert & Ziegler AG include all companies where Eckert & Ziegler AG is able to directly or indirectly influence the financial and business policies (control concept).

Acquisitions and disposals of companies

We refer to the notes under section 4 for information about acquisitions and disposals of companies.

4. LIMITED COMPARABILITY OF THE CONSOLIDATED FINANCIAL STATEMENTS WITH THE PRIOR YEAR

At the start of May 2017, the Executive Board announced its decision to discontinue the Cyclotron unit. The unit produces short-lived radiodiagnostics for oncological and neurological applications. It recorded sales of € 6.1 million and a profit of € 3.6 million in the first half of 2017. The business was sold on May 5, 2017. This accounted for a large part of the profit from discontinued operations. Expenses and income were eliminated from the income statement in 2017 and 2016. The profits and losses are reported in the result from discontinued operations. The shares in Curasight ApS were also reclassified as non-current assets held for sale as per the resolution in June 2017. The shares were written down to their fair value.

The net cash flows from discontinued operations are as follows:

• from operating activities: € 0.9 million (Q3 2016: € –0.6 million),
• from investing activities: € –0.5 million (Q3 2016: € 0.3 million),
• from financing activities: € 12.2 million (Q3 2016: € –1.4 million).

With effect from August 1, 2016, ECKERT & ZIEGLER BRASIL COMERCIAL LTDA. acquired 100% of the shares of Brazilian company BR-77 TRANSPORTES DE MEDICAMENTOS LTDA. The company specializes in the sale of products in the field of nuclear medicine.

With effect from August 26, 2016, Eckert & Ziegler BEBIG S.A. acquired 100% of the shares in BrachySolutions BVBA. The company, which is based in Leuven, Belgium, is one of the largest European distributors of prostate seeds. Its main markets are Benelux and Portugal.

By agreement dated May 31, 2017, Eckert & Ziegler Isotope Products Holdings GmbH acquired the main parts of the Gamma-Service Group based in Saxony, Germany. As part of the purchase price allocation, the assets and liabilities acquired were initially recognized in the consolidated balance sheet as of September 30, 2017, in accordance with IFRS 3.45, at provisional values.

This had a material impact on the Group's net assets and results of operations as against the first nine months of 2016, impairing the comparability of the consolidated report with the prior year.

5. CURRENCY TRANSLATION

Country	Currency	Exchange rate 30/9/2017	Exchange rate 31/12/2016	Average rate 1/1–30/9/2017	Average rate 1/1–30/9/2016
USA	USD	1.1806	1.1161	1.1139	1.1162
Czech Republic	CZK	25.9810	27.0210	26.5494	27.0361
Great Britain	GBP	0.8818	0.8610	0.8732	0.8030
Poland	PLN	4.3042	4.3192	4.2660	4.3582
Brazil	BRL	3.7635	3.6210	3.5338	3.9561
Russia	RUB	68.2519	70.5140	65.0158	76.1830
India	INR	77.0690	74.3655	72.6472	74.9164
Switzerland	CHF	1.1457	N/A	1.0952	N/A

The financial statements of companies outside the euro area are translated based on the functional currency concept. The following exchange rates were used for the currency conversion:

6. PORTFOLIO OF TREASURY SHARES

As of September 30, 2017, Eckert & Ziegler AG held 4,818 treasury shares. This corresponds to 0.1% of the company's share capital.

7. MATERIAL TRANSACTIONS WITH RELATED PARTIES

With regard to material transactions with related parties, we refer to the disclosures in the consolidated annual financial statements as of December 31, 2016.

Berlin, November 2, 2017

Dr. Andreas Eckert Dr. Harald Hasselmann Dr. André Heß

Chairman of the Executive Board Member of the Executive Board Member of the Executive Board

FINANCIAL CALENDAR

November 9, 2017	Quarterly Report iii/2017
November 29, 2017	German Equity Forum in Frankfurt
March 22, 2018	Annual Report 2017
May 8, 2018	Quarterly Reporti/2018
May 30, 2018	Annual Shareholder Meeting in Berlin
July 31, 2018	Quarterly Report ii/2018
November 13, 2018	Quarterly Report iii/2018
November 2018	German Equity Forum in Frankfurt
	Subject to change

CONTACT

Eckert & Ziegler Strahlen- und Medizintechnik AG

Robert-Rössle-Straße 10 13125 Berlin, Germany www.ezag.com

Karolin Riehle Investor Relations

Phone + 49 30 94 10 84 – 0 Fax + 49 30 94 10 84 – 112 info@ezag.de

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Eckert & Ziegler Strahlen- und Medizintechnik AG

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Ligaturas – Reportdesign, Berlin, Germany

PHOTO

Cover:: istockphoto Page 3: Wolf Lux, Alex Schelbert