Eckert & Ziegler Strahlen- und Medizintechnik AG

Earnings Release • Aug 13, 2002

News Details

Ad-hoc | 13 August 2002 07:30

Eckert & Ziegler AG english

Eckert & Ziegler: Uphill Struggle against the Dollar Exchange Rate. Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– Eckert & Ziegler AG: Uphill Struggle against the Dollar Exchange Rate. Successes with Immunological Products. Berlin, August 13, 2002. Eckert & Ziegler AG, the medical device company based in Berlin-Pankow, was able to increase its operating income in the first half of 2002 by about 20 percent to 1.6 million EUR (after 1.3 million EUR a year ago). As a result of high book currency losses (- 0.7 million EUR) on a long-term Dollar loan to the American subsidiary Isotope Products Laboratories (IPL) and the costs of new immunological development projects (- 1.5 million EUR), however, the specialist in radio-active cancer treatment products generated a loss of EUR 0.19 per share. The sales level for the first six months of the year was broadly in line with the preceding year’s figure of about 16 million EUR, although about US$ 900,000 had been booked in the first half of last year from a single non-recurring major order. As the company invoices more than two-thirds of its invoices in US Dollars, the Board is expecting sales revenue of about 33 million EUR for 2002 as a whole after factoring in the rapid fall in the Dollar/Euro exchange rate and weaker oncology markets in Europe. The operating income, on the other hand, will roughly double in 2002. Non-recurring expenses for book currency losses and heavy development costs in the immunological field, however, will reduce earnings per share to a loss of between EUR 0.20 and EUR 0.40 per share. On the other hand the Board is expecting that the second half of the year will for the first time generate sales in the immunological field including some resulting from the development work on an entirely new medical product for treating cancer of the kidneys. An agreement has just been signed in this context between Fresenius HemoCare in Bad Homburg and the Eckert & Ziegler affiliated company NEMOD Immuntherapie AG. This provides for NEMOD to develop and supply a key component for the product. The Board of Directors For further information please contact: Eckert & Ziegler AG, Ms Karolin Riehle, Investor Relations Robert-Rössle-Strasse 10, D – 13125 Berlin, http://www.ezag.com Tel.: +49 (0) 30 / 94 10 84-138, Fax.:+49 (0) 30 / 94 10 84-112 end of ad-hoc-announcement (c)DGAP 13.08.2002 ——————————————————————————– WKN: 565970; ISIN: DE0005659700; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 130730 Aug 02