PULSION Medical Systems AG - PULSION Medical Systems SE
PULSION Medical Systems AG - PULSION Medical Systems SE
PULSION Medical Systems AG - PULSION Medical Systems SE
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
DGAP - Deutsche Gesellschaft für Ad-hoc-Publizität<br />
<strong>PULSION</strong> <strong>Medical</strong> <strong>Systems</strong> <strong>AG</strong><br />
WKN: 548790 ISIN: DE0005487904 Land: Deutschland<br />
Nachricht vom 08.08.2008 | 13:37<br />
<strong>PULSION</strong> <strong>Medical</strong> <strong>Systems</strong> <strong>AG</strong>: <strong>PULSION</strong> grows 11 percent in the first<br />
half-year<br />
<strong>PULSION</strong> <strong>Medical</strong> <strong>Systems</strong> <strong>AG</strong> / Half Year Results/Half Year Results<br />
Release of an Ad hoc announcement according to § 15 WpHG, transmitted by<br />
DGAP - a company of EquityStory <strong>AG</strong>.<br />
The issuer is solely responsible for the content of this announcement.<br />
----------------------------------------------------------------------<br />
Good acceptance of the PiCCO2 flagship technology in the market / negative<br />
product and channel effect on the gross margin / EBIT forecast for the year<br />
reduced to level of previous year and increase in revenues of 12% in 2008<br />
Munich, August 08, 2008 – <strong>PULSION</strong> <strong>Medical</strong> <strong>Systems</strong> <strong>AG</strong>, a life-science<br />
corporation specializing in medical diagnostic and therapy systems listed<br />
on the Prime Standard of the Frankfurt Stock Exchange, increased its<br />
revenues in the first half of 2008 compared with the previous year by 11%<br />
from EUR 12.9 million to EUR 14.3 million. At the same time growth<br />
increased in the second quarter from about 7% in the first quarter of 2008<br />
to about 14% in the second quarter of 2008.<br />
The gross margin was only 68% (H1 2007:73%). Therewith the gross earning<br />
was basically at the same level as last year (EUR 9.8 million).<br />
At EUR 1.0 million, research and development expenditure in the first half<br />
of 2008 was at a similar level to the previous year (H1 2007: EUR 1.0<br />
million). Selling and marketing expenses of EUR 6.2 million were only<br />
marginally higher than in the previous year (H1 2007: EUR 6.1 million).<br />
General and administrative expenses increased slightly from EUR 1.6 million<br />
in H1 2007 to EUR 1.8 million in H1 2008, due in particular to off-off<br />
costs as a result of the relocation of administration and production. In<br />
total, the operative costs increased by EUR 0.4 million compared with the<br />
previous year.<br />
EBIT therefore declined by 27% from EUR 1.2 million to KEUR 881. The EBIT<br />
margin accordingly amounted to 6% compared with 9% in H1 2007.<br />
Group net profit fell, as explained in the Annual Report 2007, on account<br />
of the higher effective tax rate to KEUR 81 (H1 2007: EUR 0.8 million).<br />
Cash funds (including available-for-sale financial assets and money market<br />
funds) amounted as of June 30, 2008 to EUR 4.3 million (June 30, 2007: EUR<br />
5.1 million incl. money market funds).<br />
The performance of the Critical Care line of business in the first half of<br />
2008 fell well short of expectations. On the one hand, revenues from<br />
monitor sales increased further, following the successful launch of PiCCO2,<br />
so that the installed base of PiCCO monitors rose worldwide in the first<br />
half of 2008 to 5,481 units (+12% compared with June 30, 2007). With an<br />
increase of only 5% compared with the first half of 2007, sales of<br />
disposable products were however much lower than the growth forecast for<br />
the period.<br />
The reasons for this development are to be found in particular in the sales<br />
area. <strong>PULSION</strong> will accordingly concentrate its sales efforts in the second<br />
half of the year on the optimum exploitation of the expanded potential of<br />
http://www.dgap.de/dgap/static/News/?newsType=ADHOC&companyID=793&news...<br />
Page 1 of 2<br />
31.03.2009
DGAP - Deutsche Gesellschaft für Ad-hoc-Publizität<br />
installed monitors with catheter sales. <strong>PULSION</strong> therefore has reduced its<br />
sales growth target for 2008 to 12%, representing total revenues of EUR<br />
31.7 million. In addition, the Company anticipates a shortfall in EBIT.<br />
Instead of the EBIT of EUR 5.1 million originally budgeted, <strong>PULSION</strong> now<br />
expects an EBIT in the range of previous year.<br />
The full half-yearly report will be published on August 11, 2008 in<br />
accordance with the financial calendar.<br />
08.08.2008 Financial News transmitted by DGAP<br />
----------------------------------------------------------------------<br />
Language: English<br />
Issuer: <strong>PULSION</strong> <strong>Medical</strong> <strong>Systems</strong> <strong>AG</strong><br />
Joseph-Wild-Strasse 20<br />
81829 München<br />
Deutschland<br />
Phone: +49 (0)89 4599 14-0<br />
Fax: +49 (0)89 4599 14-18<br />
E-mail: info@pulsion.com<br />
Internet: www.pulsion.com<br />
ISIN: DE0005487904<br />
WKN: 548790<br />
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr<br />
in Berlin, München, Hamburg, Düsseldorf, Stuttgart<br />
End of News DGAP News-Service<br />
---------------------------------------------------------------------------<br />
http://www.dgap.de/dgap/static/News/?newsType=ADHOC&companyID=793&news...<br />
Page 2 of 2<br />
31.03.2009
Change language