UMS AG Publishes Its Financial Statements for the First Half of 2007
Growth Strategy for the Future Confirmed
Operating income (EBIT) was EUR 5.4 million and therefore remained at the level of the previous year. When adjusted for exchange rates, however, a gain of EUR 0.4 million or more than 8% was achieved.
Non-recurring charges in the discontinued operations affected the Group’s income. This includes the estimated implications of a tax field audit and particularly expenses for the consulting services used by the UMS Group over the past months to review its strategic options and potential takeover offers by third parties. As of today, no concrete projects have emerged in this connection.
Consolidated profits after taxes were EUR 3.2 million compared to EUR 3.6 million in the previous year. This includes charges against discontinued operations of EUR 0.7 million.
After deduction of the minority interests, the net result attributable to the shareholders of the Group was EUR 0.7 million in the first half of 2007 with earnings per share (EPS) of EUR 0.24 for the continuing operations and EUR –0.12 for discontinued operations (prior year: EUR 0.29 and EUR –0.06). When adjusted for the calculated exchange rate effects, earnings per share of the continuing operations stand at EUR 0.26.
The balance sheet ratios of the Group have continued to improve. The equity ratio increased from 38% at the end of 2006 to 41% at June 30, 2007.
Earnings expectations for the first six months of 2007 were not quite reached overall because the growth in sales remained below plan while the infrastructure required for the expected organic growth was expanded.
For the second half of the year, however, the company anticipates the growth dynamics to improve significantly and the current sales and earnings goals to be realized—although with a time lag. The Management Board therefore expects that the continuing business units will reach the planned average earnings contributions for 2007 in the remaining months of the fiscal year, that is to say half-year earnings of approximately €0.35 per share.
A pdf-format of the Half-Yearly Financial Report 2007 is available at www.umsag.com.
UMS United Medical Systems International AG
UMS International AG offers innovative medical services in the growth segment of hightech medicine. UMS is pioneering the mobile use of med-tech systems around the world and markets comprehensive full-service solutions for hospitals and specialist physicians.
The company’s forward-looking concepts include complete service for the customers, from system management and the deployment of qualified application specialists to the operating of therapy centers.