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Eckert & Ziegler: Successful Financial Year 2005
To expand into the new segment of radio-pharmacy, in 2005 the group with its head office in Berlin-Pankow invested approximately 1.4 million EUR in the restructuring of two new holdings which deal with the manufacture and sales of radioactive contrast media for so-called PET examinations, a very sensitive and accurate nuclear medicine diagnostic procedure, especially for cancer. Both companies were self-financing at the end of the year under review, which is why the board of directors assumed that the costs are a one-off sum for restructuring which is not shown in the adjusted profit or loss. Without the adjustment the profit or loss for the group in 2005 before tax was 2.2 million EUR, the net income was 1.6 million EURO (0.51 EUR per share). The board of directors will propose a dividend of 0.15 EUR per share at the shareholders’ meeting on 30 May.
In the previous year the comparable values for the group profit or loss before tax was 3.2 million EUR and the net income was 3.3 million EUR (1.09 EUR per share). As a result of the special effects from the discontinued business units from the de-consolidation the profit or loss of both years are only partly comparable. The dividend last year amounted to 0.25 EUR per share.
Approximately half the growth in turnover of 6.3 million EUR in 2005 was put down to organic growth, the rest came from the acquisition of four new companies. In addition to the radio-pharmaceutical holdings mentioned above, there were two smaller manufacturers of encapsulated radiation sources in the Czech Republic and the United States.
Since the additional purchases were partly financed by outside sources and reported a high level of indebtedness, the group’s capital ratio on 31.12.2005 decreased to 52% (previous year: 66%). The balance sheet total increased by a good third from almost 50 to 67 million EUR. The cash flow from operational activity increased by 40% from 2.5 to 3.5 million EUR (0.83 and 1.14 EUR per share), the stock of liquid funds rose slightly by 4% to 7.4 million EUR.
“In operational and strategic terms 2005 was a good year”, the chairman of the board of directors, Dr Andreas Eckert, said about the results. “We were able to develop our strong position with encapsulated sources of radiation and implants, establish a new engine of growth with tumor radiation equipment and get into the expanding market for radio-pharmaceuticals. In the next few years these successes will give us a large following wind for further growth. With regard to the radioactive contrast media for PET examinations we have been able to reach a strong market position in Germany and Italy from the basic level, which can be developed and which goes well with the endeavors of the group to acquire pharmaceutical competence in addition to know-how in medical technology. I am confident that we shall be able to report many successes from this sector.”
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