Press release BoxID: 162487 (UMS United Medical Systems International AG)
  • UMS United Medical Systems International AG
  • Borsteler Chaussee 53
  • 22453 Hamburg
  • Contact person
  • Wiebke Budwasch
  • +49 (40) 500177-0

UMS publishes preliminary result 2007/Increase in revenues and EBIT (adjusted for currency effects) in fiscal year 2007

(PresseBox) (Hamburg, ) UMS United Medical Systems International AG (UMS/ISIN DE0005493654) implemented key strategic decisions in fiscal year 2007.After selling its business in Europe in 2007, the Company is now exclusively active in promising American markets, where it has further enhanced its position through strategic acquisitions.

According to preliminary figures under IFRS, UMS s revenues and earnings climbed significantly on a dollar basis. However, because of the euro s continued strength against the dollar, the Company s performance is not fully reflected in the preliminary IFRS figures on a euro basis. While U.S.dollar revenues in the continuing business units were USD 47.5 million and up 8% over the previous year (USD 43.8 million), they remained practically unchanged in 2007 on a euro basis, at EUR 34.5 million, versus EUR 34.8 million in the previous year.

Based on preliminary consolidated figures, the EBIT of the continuing business units stood at USD 15.4 million or EUR 11.2 million, up 7% in U.S.dollar terms, compared with USD 14.4 million or EUR 11.4 million in the previous year. Consolidated net income grew by 7% on a dollar basis from USD 9.7 million to USD 10.4 million, amounting to EUR 7.6 million, as opposed to EUR 7.8 million in 2006.

Minority interests were EUR 5.1 million (USD 7.0 million) compared to EUR 4.8 million (USD 6.0 million) in fiscal year 2006. The net profit attributable to shareholders amounted to EUR 2.5 million versus EUR 3.0 million in the previous year. On a dollar basis the net profit was USD 3.4 million in 2007 after USD 3.7 million in 2008. For continuing operations net profit amounted to EUR 3.2 million (USD 4.4 million), as opposed to EUR 3.8 million (USD 4.8 million) in 2006.

Earnings per share (EPS) in fiscal year 2007 therefore amounted to EUR 0.53, or EUR 0.56 if special effects are eliminated, down from EUR 0.63 (EUR 0.60 after special effects) in the previous year.

Adjusted for special effects earnings per share on a dollar basis were 0,77 USD, slightly up from 0,76 USD in 2006. The EPS for continuing operations overall amounted to 0,73 USD after 0,80 USD in the previous year.

Cash flow from operating activities increased by more than 40% in 2007, rising to EUR 11.5 million.

Posting a particularly good performance was the Urology business unit, where the Company obtained a majority stake in Chesapeake Lithotripsy Associates and entered into additional significant agreements with physician partnerships, also taking over the service agreements of InSight Health Corp. In the Gynecology unit, last year s strong performance was maintained. Expansion into key South American markets in 2007 was also successful.

UMS will publish the final figures for 2007 on April 24, 2008.