DGAP-News: Eckert & Ziegler Strahlen- und Medizintechnik AG / Key
word(s): Quarter Results
Eckert & Ziegler: Modest start to FY 2013
03.05.2013 / 07:45
---------------------------------------------------------------------
Berlin, 03 May 2013.Eckert & Ziegler AG, a specialist in isotope technology
applications for medicine, science and industry (ISIN DE0005659700) has
started off the new financial year with a modest first quarter. Compared
with the corresponding period of the previous year the sales and earnings
of the Eckert & Ziegler Group declined by 9% to EUR26.5 million in the
first quarter of 2013. EBIT fell by 51% to EUR2.4 million. The profit after
tax and minority interests was EUR1.2 million or EUR0.23 per share and thus
substantially below the figure for the same period for the previous year at
EUR2.5 million or EUR0.47 per share. The disproportionate decline in
earnings was caused by declining sales in the radiation therapy segment,
though this is not expected to be a lasting effect, changes in the
composition of items sold, as well as non-recurring special effects (waste
management provisions).
The Segments in detail
In the largest segment, Isotope Products, sales declined slightly by 3% to
EUR13.6 million. However, EBIT for the segment fell by 8% to EUR4.1 million
compared with the previous year, mainly due to a fall in the gross margin.
This can be attributed to a shift from high-margin items to standard
components with lower contribution margins. Given that there are no
indications of this being a lasting trend, company management assumes that
the traditional product range mix and the normal gross margin will be
achieved again by the end of the year.
The Radiation Therapy segment registered a substantial 24% fall in sales to
EUR5.5 million. This was caused by a price collapse for prostate implants,
which led to lower sales revenues despite the increase in quantities
purchased, as well as delays in deliveries of radiation devices and eye
applicators. The decline in sales of implants is part of a more stable
trend, while representing only a temporary dip for tumor radiation devices
and eye applicators resulting from delivery and reporting date effects. As
the orders and payments have already been received for most of the
radiation devices, the backlog in sales compared with the previous year
will be made up for in the coming quarters in the view of segment
management. Nevertheless, the lower sales revenues did impact directly on
the contribution margin. This effect was, however, lessened by the one-off
proceeds in the sum of EUR1.3 million resulting from the agreement with
Core Oncology, Inc., with the result that EBIT for the segment almost
doubled from EUR0.5 million to EUR0.9 million. Comprehensive statements
concerning the Radiotherapy segment can be found in the Eckert & Ziegler
BEBIG s.a. quarterly report published at the same time (www.bebig.eu).
The Radiopharma segment maintained the sales of the first quarter of the
previous year with a figure of EUR6.3 million, though the structure of
sales also changed in this segment. Sales of fluorine-based radioactive
contrast agents (PET tracers) decreased by EUR0.3 million, while the sales
of devices for the production of radio-pharmaceuticals (Modular Lab etc.)
increased. Although the growth and decline in sales balanced each other out
in total, the lower margin in the device section led in overall terms to
EBIT falling by EUR0.4 million to EUR0.1 million.
It was a disappointing quarter in the Environmental Services segment, with
sales falling by EUR0.6 million to EUR1.1 million compared with the
previous year. Similar to the Radiation Therapy segment, sector-specific
project accounting and reporting date effects made themselves felt here
which will in all likelihood be made up during the financial year. The
lower sales directly impacted on the result for the first quarter via the
lack of contribution margin. However, the decisive factor for the negative
EBIT of EUR2 million was the increase in public authority prices for an
important disposal channel rather than the fall in sales revenues. These
price increases forced an adjustment of approx. EUR1 million in the waste
disposal provisions. As this was the first increase in prices for a number
of years, segment management sees this as essentially being a one-time
effect.
To read the full report please click here:
http://www.ezag.com/fileadmin/ezag/user-uploads/pdf/financial-reports/engl
isch/euz113e.pdf
The board of directors and supervisory board will suggest a dividend of
0.60 per share at the Annual General Meeting on 17th May 2013.
The Group expects sales to grow to around EUR125 million for the financial
year 2013 and net earnings after taxes and minority interests in the sum of
EUR2.15 per share.
With around 620 employees the Eckert & Ziegler Group belongs to the largest
providers of isotope components for radiotherapy and nuclear medicine
worldwide.
If you have any questions please contact:
Eckert & Ziegler AG
Karolin Riehle, Investor Relations
Robert-Rössle-Str. 10, 13125 Berlin, Germany
Tel.: +49 (0) 30 / 94 10 84-138
karolin.riehle@ezag.de, www.ezag.com
End of Corporate News
---------------------------------------------------------------------
03.05.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's 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: Eckert & Ziegler Strahlen- und Medizintechnik AG
Robert-Rössle-Str.10
13125 Berlin
Germany
Phone: 49 30 941084-138
Fax: 49 30 941084-112
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, Düsseldorf, Hamburg, München
End of News DGAP News-Service
---------------------------------------------------------------------
209531 03.05.2013
DGAP-News: Eckert & Ziegler: Modest start to FY 2013
| Source: EQS Group AG