PULSION Medical Systems AG - PULSION Medical Systems SE

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