Press release BoxID: 164312 (CyBio AG)
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CyBio AG: The CyBio Group increased sales by 24 % and closes fiscal year 2007 with 19.16 Mill. EUR Sales

Group Result burdened with extraordinary IFRS-depreciations

(PresseBox) (Jena, ) The CyBio AG, Jena, (German Stock Exchange: General Standard, ISIN-Number DE0005412308) achieved in 2007 a turnover of 14.4 Mill. EUR (py. 12.3 Mill. EUR). The result of operation of CyBio AG stand alone was slightly improved from previous years 1.0 Mill. EUR. Group Turnover was up 24 per cent at 19.16 Mill. EUR (thereof the subsidiary CyBio France, which was sold in May 2007, contributed 307 TEUR).

The result after taxes has largely been influenced by extra ordinary expenses of 4.3 Mill. EUR. The annual Group Result was burdened by losses from the US-operation and the Automation company CyBio Robotics (previously accelab) GmbH, as well as depreciations on assets from CyBio Robotics. Group loss sums up to nearly 4.5 Mill. EUR.

The growth was mainly borne by our contract development business with Corning and the contribution of CyBio Robotics. Turnover in our sales region Europe and Asia ended up steady versus previous year. Our business start with a sales subsidiary in Japan was very promising. Our US operation suffered from a significant drop in turnover from 4.8 Mill. EUR in 2006 to 3.1 Mill. EUR in 2007. Measures on restructuring and refocusing the sales operation had already been taken. Additionally at CyBio Robotics measures to Stop the negative development had been introduced.

Related to sales regions, sales was split up as follows:Germany 39,2 % (py. 21,6 %), Europe ex Germany 23,9 % (py. 28,1 %), Northern America 32,7 % (py. 45,4 %) and Asia 4,2 % (py. 4,9 %).

About half of total sales is generated by our instrument business, the other half is contributed by sales from Service, Contract development work, Customized Solutions and Consumables. Especially the Consumable business is growing with double digit numbers.

Liquid funds of the Group at year end amounted to 2.3 Mill. EUR (end of 2006: 2.9 Mill. EUR).

The development in business year 2007 led to a reassessment of our strategy. As a result of the review we put in place an action plan to improve the situation, which was already introduced by the end of the year. We reconfirmed our strategy of strengthening our automation competence and the know-how in instrument development. As the third pillar our Contract Development will support the business.