DGAP-News: Eckert&Ziegler: Shortfall against 2012 reduced in third quarter, earnings expected to be up in 2014
(firmenpresse) - DGAP-News: Eckert&Ziegler Strahlen- und Medizintechnik AG / Key
word(s): Quarter Results
Eckert&Ziegler: Shortfall against 2012 reduced in third quarter,
earnings expected to be up in 2014
08.11.2013 / 07:45
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Press Release
Eckert&Ziegler: Shortfall against 2012 reduced in third quarter,
earnings expected to be up in 2014
Berlin, November 8, 2013. Eckert&Ziegler AG, a specialist in isotope
technology applications for medicine, science and industry (ISIN
DE0005659700) continued to reduce its sales and earnings shortfall as
against the comparable period in the previous year between July and
September. At EUR 86 million, sales in the first nine months of the year
were almost on par with the previous year's period (EUR 88 million).
Cumulative EBIT at EUR 11.4 million cut the negative year-on-year
difference to EUR 2.6 million, or 19%. At EUR 1.18 per share, net profit
for the year is now only down 12% year on year due to lower interest
payments and a decline in the tax rate.
The shortfall as against 2012 resulted from a weak start to the year,
especially in the Radiation Therapy segment, where the partial cessation of
a low-margin business with accessories in France and tumbling prices for
prostate implants over the course of the nine-month period together
resulted in sales decreasing by EUR 2.8 million. Sales have since
stabilized; a large number of tumor irradiation equipment deliveries are
expected in the fourth quarter. Missing profit contributions have not yet
impacted the segment's profits as extraordinary income of EUR 1.5 million
was recognized in the spring following successful litigation. However,
extraordinary expenses are also pending due to the acquisition of an
American competitor; this means that the segment's profit contributions
will be lower than expected at the end of the year.
Sales in the largest segment, Isotope Products, amounted to EUR 44 million
after the first nine months of the year, down approximately EUR 1 million
year on year; its product portfolio is also shifting toward products with
lower margins. This, together with missing profit contributions, resulted
in EBIT decreasing minimally by EUR 0.4 million.
The Radiopharma and Environmental Services segments both reported total
sales growth of EUR 1.3 million in the period to the end of September 2013
following acquisitions. However, earnings were down for both year on year.
While radiopharmacists had to contend with a difficult market environment
in the device section, which cost EUR 1.0 million in EBIT year on year, the
Environmental Services segment suffered from price increases for a key
disposal channel, resulting in an adjustment in provisions as well as a EUR
0.9 million drop in earnings. However, both segments reported increasing
sales and earnings in the third quarter of 2013 as against the third
quarter of 2012.
The Executive Board therefore remains optimistic and expects sales to
amount to some EUR 125 million in fiscal year 2013 and net profit for the
year to be on par with the previous year at EUR 1.95 per share. Sales are
expected to increase significantly to EUR 140 million for 2014 and to EUR
150 million for 2015. Assuming that the dollar exchange rate remains
constant, earnings after taxes and minority interests are forecast to rise
to EUR 2.20 and EUR 2.50 per share respectively.
To read the full report please click here:
http://www.ezag.com/fileadmin/ezag/user-uploads/pdf/financial-reports/engl
isch/euz313e.pdf
With around 700 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(at)ezag.de, www.ezag.com
End of Corporate News
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08.11.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group 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
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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(at)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
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