PULSION: Finalized figures for the financial year 2007/ forecast for 2008
- EBIT up in line with forecast to EUR 4.1 million (+21%)
- Sales revenue at EUR 28.3 million (+16%)
- Group net profit of EUR 2.5 million (-23%)
- Operating cash flow of EUR 4.5 million (+42%)
- Sales revenue forecasted to increase in 2008 by 20-30 percent
- Forecast EBIT margin of at least 15 percent
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 sales revenue by 16% from EUR 24.5 million to EUR 28.3 million according to finalized figures for the financial year 2007.
Operating profit (EBIT) improved by 21% to EUR 4.1 million (2006: EUR 3.4 million) in line with forecast. The gross margin fell by 2 percentage points from 75% to 73%. Earnings before tax (EBT) improved from EUR 3.3 million to EUR 4.0 million. Group net profit fell by 23% to EUR 2.5 million as a result of the higher tax expense. Unlike in the previous year, deferred tax assets and liabilities were recognized on measurement differences for accounting and tax purposes brought about as a result of tax deductible impairment losses recorded on investments in subsidiaries during the financial year.
The cash flow from operating activities rose by EUR 4.5 million (+42%). Liquid assets (including available-for-sale financial assets) went up to EUR 7.0 million (+ 34%).
"Last year, significant changes in direction were made in the sales and production areas which will have a very positive effect on growth and profitability over the years to come" stated Bradley Gould, CEO of PULSION Medical Systems AG.
PULSION successfully launched a new product generation in 2007, the PiCCO2. Following receipt of FDA approval for this product in 2007, it will now be possible to increase sales of PiCCO2 in the USA in the current year. The same applies to the drug, ICG-PULSION, which also received FDA approval and can now be also sold on the world s most important health-care market.
In addition, PULSION will commence production in its own facilities during the course of the year, thus creating greater capacities and a higher level of internally generated added-value. This will result in significant reductions in aggregate production and throughput times.
"In 2008, we intend to get back to our target sales growth rate corridor of between 20 and 30 percent, with an EBIT margin of at least 15 percent", stated Bradley Gould with regard to PULSION s expectations for growth in 2008.
PULSION Medical Systems SE
PULSION Medical Systems AG, founded in 1990, has become one of the leading specialists for intelligent medical diagnosis and therapy management systems and has been listed on the Stock Exchange in Frankfurt since 2001. The repeated development of innovative product lines in the medtech field is the basis for creation and expansion of the attractive disposable business with sterile products and pharmaceuticals.
The business unit PULSION Critical Care covering intensive care medicine, perioperative medicine and emergency medicine focuses on the management of cardiovascular and organ functions of critically ill patients. Products and activities of the business unit PULSION Perfusion are directed at the diagnosis and therapy management of organ and tissue perfusion in ophthalmology, surgery and hepatology.
PULSION products are marketed worldwide via own sales channels or secondary distribution. All products are certified with the CE mark which is basis for marketing in the EU and some other countries. The US-American FDA approval and the Japanese market approval have been issued for selected product lines.
Further information about PULSION is available at www.pulsion.com.
PULSION Medical Systems AG
ISIN DE0005487904 Equity capital: Euro 9,577,302 divided into no-par-value euro 1 individual share certificates