Eckert & Ziegler Strahlen- und Medizintechnik AG

Earnings Release • Mar 27, 2009

News Details

Corporate | 27 March 2009 15:17

Eckert & Ziegler Annual Figures 2008: Rising Profit and a New Sales Record

ECKERT & ZIEGLER Strahlen- und Medizintechnik AG / Final Results

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Berlin, 27.03.2009. The Berlin based Eckert & Ziegler Strahlen- und
Medizintechnik AG (ISIN DE0005659700), a specialist for isotope technology
in medicine, science and industry, posted an annual net profit of EUR 4.5
million or EUR 1.43 per share in fiscal year 2008. Without special effects,
profits after tax and minority interests amounted to EUR 3.4 million or EUR
1.10 per share. This represents an increase of 23% over the previous year.
The annual sales volume rose for the fifth consecutive year to a new record
level of EUR 71.6 million (previous year: EUR 54.4 million, or +32 %.) The
Group has thus more than doubled its sales over the past five years. On
average, sales have risen at a rate of 15% per year.

The leading segment in the three-division Group in 2008 was again
components for industrial, scientific and imaging applications, which
contributed EUR 1.35 per share or EUR 4.2 million to the annual net profit.
In the Therapy segment, which specializes in medical devices for the
treatment of cancer, encumbrances arising from restructuring and the
integration of Belgium based IBt led to significantly poorer results than
in the previous year, posting losses of EUR 2.3 million or EUR 0.73 per
share. After eliminating special effects, however, the losses are
substantially lower, at EUR 0.7 million or EUR 0.21 per share. The
Radiopharmacy segment, encumbered by major development expenses, was able
to halve its losses over the previous year to EUR -0.3 million or EUR -0.10
per share. In the holding company, meanwhile, the remaining balancing
adjustments resulted in profits of EUR 2.7 million or EUR 0.85 per share.

The profit from continuing operations before taxes, interest and other
shareholders' interests (EBIT) rose by 66% to EUR 9.5 million. Without
special effects, the EBIT figure for 2008 is approximately EUR 6.9 million,
amount to growth of 22%.

In the year under review, the main driver of sales growth was again the
Radiopharmacy segment, which increased by roughly EUR 6 million to nearly
EUR 15 million. It benefited from rising demand for radioactive contrast
media for cancer diagnosis and strong interest in the new synthesis module
family Modular Lab. The Therapy segment also posted growth of EUR 6 million
from EUR 21 million to EUR 27 million, albeit with most of that growth
coming through the merger with former competitor IBt. In the Nuclear
Imaging and Industry segment, sales rose - partially organically and
partially through acquisitions - by EUR 5 million to EUR 30 million.
Nominal growth in this segment, which posted the majority of its sales in
US Dollars, was 19%. Exchange rate adjusted, the growth figure was 27%.

Balance sheet marked by special effects

In 2008, the Group's balance sheet was markedly influenced by the
integration of the therapeutical divisions of the publicly listed Belgian
IBt S.A., which led to numerous special effects amounting to millions. In
the income statement, book profits of roughly EUR 16 million resulting from
the incorporation of Eckert & Ziegler BEBIG GmbH into IBt were offset
against various provisions, value adjustments and other noncash corrections
of on-balance-sheet-assets of roughly EUR 1.1 million or EUR 0.34 per
share. Special effects on the balance sheet, by contrast, were not offset
and led to a balance sheet extension from roughly EUR 70 million to roughly
EUR 100 million. As a result, the equity ration fell from 54% to 43% in
spite of profits.

Cash flow from operating activities reached a new record of EUR 8.6
million, a 29% increase over the figure from 2007. This contributed
significantly to a EUR 3 million increase in the Group's liquid assets at
the end of the year despite the expansion, although the investment volume
in fiscal year 2008 rose slightly over the previous year by EUR 0.9 million
to EUR 5.5 million and the financing balance remained minimally negative
(EUR -0.3 million).

The Executive Board and Supervisory Board will propose an increase in
dividends from EUR 0.25 to EUR 0.33 per share at the Annual General Meeting
on May 13, 2009.

For the current year, the company expects further growth, in particular
sales growth, to roughly EUR 100 million.

Eckert & Ziegler AG, Karolin Riehle, Investor Relations
Robert-Rössle-Str. 10, 13125 Berlin
Tel.: +49 (0) 30 / 94 10 84-138, Fax -112
E-Mail: karolin.riehle@ezag.de, www.ezag.de

27.03.2009 Financial News transmitted by DGAP

Language: English
Issuer: ECKERT & ZIEGLER Strahlen- und Medizintechnik AG
Robert-Rössle-Str. 10
13125 Berlin
Deutschland
Phone: +49 (0)30 941 084-0
Fax: +49 (0)30 941 084-112
E-mail: karolin.riehle@ezag.de
Internet: www.ezag.de
ISIN: DE0005659700
WKN: 565970
Listed: Regulierter Markt in Frankfurt (Prime Standard), Stuttgart;
Freiverkehr in Berlin, München, Hamburg, Düsseldorf

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