MeVis Medical Solutions AG

Earnings Release • Aug 11, 2015

News Details

Corporate | 11 August 2015 15:50

MeVis Q2 2015: Revenues benefit from strong US dollar

MeVis Medical Solutions AG / Key word(s): Half Year Results/Interim Report

2015-08-11 / 15:50

---

Significant increase in revenues from strong US dollar, at the same time slightly weaker results

• Sales in the second quarter increased by 15 % to EUR 3.7 m due to the strong US dollar (prev. year: EUR 3.2 m)
• Earnings before interest and taxes (EBIT) decreased to EUR 1.6 m (prev. year EUR 1.8 m), EBIT margin of 23 %
• Net profit declined to EUR 1.3 m (prev. year EUR 1.7 m)
• Liquidity of EUR 21.6 m as at June 30, 2015 (Dec. 31, 2014: EUR 17.5 m)

Bremen, August 11, 2015 – MeVis Medical Solutions AG [ISIN: DE000A0LBFE4], a leading provider of medical imaging software, today announced its results for the first half of 2015.

Sales in the second quarter of 2015 came to EUR 3,730 k, 15 % higher than in the second quarter of 2014 (EUR 3,234 k) and surpassing the first quarter of 2015 (EUR 3,408 k). At EUR 7,138 k, sales in the first half of the year increased considerably year on year (prev. year: EUR 6,062 k). The growth in sales is entirely attributable to the US dollar exchange rate, which contributed EUR 1,145 k to sales growth in the half year. Revenues generated from licensing business increased by 8 % to TEUR 3,326, revenues from maintenance business increased by 11 % to TEUR 3,080, accounting for 43 % of total sales. Sales in the Digital Mammography segment increased by 19 % to EUR 5,637 k (prev. year: EUR 4,738 k) and sales in the Other Diagnostics segment increased by 13 % to EUR 1,501 k (prev. year: EUR 1,324 k).

Staff costs increased in the second quarter according to plan by 2 % to EUR 1,798 k (prev. year: EUR 1,755 k), resulting in an identical increase of 2 % (from EUR 3,567 k to EUR 3,635 k) for the first half of the year. Other operating expenses fell in the second quarter by 19 % to EUR 453 k (prev. year: EUR 559 k), but increased by 3 % cumulative in the first half of 2015.

The capitalization of development expenses was ceased in the fourth quarter of 2014 (prev. year: EUR 841 k).

Due to increased sales and despite the cessation of the capitalization of development expenses, MeVis sees a slight increase of the EBITDA (earnings before interest, taxes, depreciation and amortization) by 2 %, from EUR 2,605 k to EUR 2,667 k.

After depreciation and amortization of EUR 1,040 k (up 27 % year on year), this results in an EBIT (earnings before interest and taxes) of EUR 1,627 k (with 9 % well below the previous year’s figure of EUR 1,789), corresponding to an EBIT margin of 23 % (prev. year: 30 %).

The net financial result improved by EUR 271 k to EUR 428 k year on year. Mainly the development of the US$ exchange rate and the improvement of the MeVis BreastCare have contributed to this. Income tax expenses increased by EUR 568 k to EUR 787 k, which results mostly from deferred taxes.

Net profit fell by EUR 459 k to EUR 1,268 k, which is equivalent to undiluted earnings per share of EUR 0.72 (prev. year: 1.00).

Cash and cash equivalents increased by EUR 4,052 k to EUR 21,563 k as of June 30, 2015 compared to the end of 2014. This includes EUR 1,707 k from the sale of treasury shares to the VMS Deutschland Holdings GmbH in April 2015.

The Company’s financial reports can be downloaded from the following website:

http://www.mevis.de/en/investor-relations/financial-reports/

---

2015-08-11 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:	Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Munich, Stuttgart

End of News	DGAP News-Service

- - -
385663  2015-08-11