MeVis Medical Solutions AG

Earnings Release • May 21, 2015

News Details

Corporate | 21 May 2015 10:19

MeVis Medical Solutions AG: MeVis Q1 2015: Mixed first quarter

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

2015-05-21 / 10:19

---

Very positive sales by strong US Dollar, declining results

• Sales in the first quarter increased by 21 % to EUR 3.4 m due to the strong US dollar (previous year: EUR 2.8 m)
• Earnings before interest and taxes (EBIT) decreased to EUR 0.5 m (previous year EUR 0.7 m), EBIT margin of 16 %
• Net profit also declined slightly to EUR 0.7 m (previous year EUR 0.8 m)
• Liquidity of EUR 19.0 m as at March 31, 2015 (Dec. 31, 2014: EUR 17.5 m)

Bremen, May 21, 2015 – MeVis Medical Solutions AG [ISIN: DE000A0LBFE4], a leading provider of medical imaging software, today announced its results for the first quarter of 2015.

Sales in the first quarter of 2015 came to EUR 3,408 k, 21 % higher than in the first quarter of 2014 (EUR 2,828 k). Revenues generated from licensing business increased by 17 % to TEUR 1,561, revenues from maintenance business increased by 9 % and accounted with TEUR 1,493 for 44 % of total sales. Sales in the Digital Mammography segment grew by 22 % to EUR 2,721 k (prev. year: EUR 2,227 k) and sales in the Other Diagnostics segment grew by 14 % to EUR 687 k (prev. year: EUR 601 k).

Operating expenses increased slightly in the first quarter of 2014. Staff costs increased by only 1 % to EUR 1,837 k (prev. year: EUR 1,812 k). Other operating expenses rose by 34 % to EUR 549 k (prev. year: EUR 411 k) driven by legal and consulting cost.

The capitalization of development expenses was ceased in the fourth quarter of 2014 (Q1 2014: EUR 428 k).

Due to increased sales and despite higher costs and the cessation of the capitalization of development expenses, we see a slight increase of the EBITDA (earnings before interest, taxes, depreciation and amortization) by 1 %, from EUR 1,100 k to EUR 1,107 k.

After depreciation and amortization of EUR 565 k (up 39 % year on year), EBIT (earnings before interest and taxes) declined considerably by 22 % to EUR 542 k (prev. year: EUR 694 k) corresponding to an EBIT margin of 16 % (prev. year: 25 %).

The net financial result improved by EUR 59 k to EUR 138 k year on year. Mainly the development of the US$ exchange rate, the continuous improvement of the MeVis BreastCare, and the interest result have contributed to this. Income tax expenses decreased by EUR 46 k to EUR 42 k.

Net profit fell by EUR 47 k to EUR 683 k, which is equivalent to earnings per share of EUR 0,37 (prev. year: 0,40).

Cash and cash equivalents increased by EUR 1.453 k to EUR 18.964 k as of March 31, 2015 compared to the end of 2014.

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

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

---

2015-05-21 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

- - -
360419  2015-05-21