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Eckert & Ziegler with Record Profit in FY 2019
The Radiopharma segment recorded the greatest growth spurt, increasing its sales by EUR 11.2 million or 35% to EUR 42.7 million due to the high demand for pharmaceutical radioisotopes.
Despite increasing sales of HDR products, the Radiation Therapy segment was not able to maintain the good figures of the previous year. Sales decreased by EUR 0.5 million or 1.7 % to EUR 30.1 million.
In the Isotope Products segment, sales decreased by 1.2% to EUR 110.9 million. As expected, sales in the energy sector in particular declined after a record result in the previous year.
Cash and cash equivalents as of 31 December 2019 amounted to EUR 78.9 million. Compared with the end of 2018, this represents an increase of EUR 24.7 million. For a self-financing, debt-free and profitable company, the Management Board believes that the cash position should be sufficient to cope with both the crisis and growth investments.
For the financial year 2020, sales of only EUR 170 million and an EBIT of EUR 25 million are conservatively expected for the time being, due to Corona. This should result in a consolidated profit of around EUR 18 million or EUR 3.50 per share. It already includes the additional expenses for the development of new radiopharmaceuticals. In addition, the forecast is based on an exchange rate of no more than USD 1.20 per euro and the assumption that no closures of major operating facilities will be ordered due to the corona crisis.
The Executive Board and Supervisory Board will propose a dividend of EUR 1.70 per dividend-bearing share (previous year: EUR 1.20) to the Annual General Meeting. In order to counteract the spread of the corona virus, it will be organised as a digital Annual General Meeting without the physical presence of the administration and shareholders, wherever possible. The date for the Annual General Meeting (17 June 2020) will probably be rescheduled by one or two weeks.
The complete financial statements for the 2019 financial year can be viewed here:
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