EANS-Adhoc: CURANUM AG
Publishing the figures Q3/ 2010
-------------------------------------------------------------------------------- ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro adhoc with the aim of a Europe-wide distribution. The issuer is solely responsible for the content of this announcement. --------------------------------------------------------------------------------
9-month report/Publishing the figures Q3/ 2010
10.11.2010
Ad hoc
| | | | | | | | | | | | | | |THE GROUP AT A GLANCE | | | | | | |as of September 30, 2010 | | | | | | |(IFRS) | | | | | | | | | | | | | | | | | | | | | | | | | | | |in mil. Euro |Q3/2010 |Q3/2009 |9M/2010 |9M/2009 |2009 | | | | | | | | |Revenue |66.8 |65.7 |195.9 |193.1 |259.5 | |Personnel expenditure |34.0 |32.7 |100.2 |97.5 |130.5 | |EBITDAR |21.2 |21.3 |60.7 |61.8 |83.1 | |Rental expense |13.8 |13.8 |41.5 |41.6 |55.5 | |EBITDA |7.4 |7.5 |19.2 |20.1 |27.6 | |as % of revenue |11.1% |11.4% |9.8% |10.4% |10.6% | |Depreciation / amortization |2.7 |2.5 |7.6 |7.3 |9.8 | |EBIT |4.7 |5.0 |11.6 |12.8 |17.8 | |as % of revenue |7.0% |7.6% |5.9% |6.6% |6.9% | |Net financial result |-2.5 |-2.3 |-7.3 |-6.7 |-8.9 | |EBT |2.2 |2.7 |4.3 |6.1 |8.9 | |Net profit |1.4 |2.0 |1.4 |4.2 |5.8 | |EPS (Euro)* |0.04 |0.06 |0.04 |0.13 |0.18 | | | | | | | | |Cash Flow |14.8 |5.4 |25.4 |14.1 |19.9 | |CPS (Euro)** |0.46 |0.17 |0.79 |0.44 |0.62 | | | | | | | | |Cash and cash equivalents |24.4 |7.6 |24.4 |7.6 |8.9 | |Equity |67.3 |64.3 |67.3 |64.3 |66.1 | |as % of total equity and |25.1% |27.2% |25.1% |27.2% |28.0% | |liabilities | | | | | | |Total assets |268.3 |236.8 |268.3 |236.8 |236.4 | | | | | | | | |Employees |6,275 |6,091 |6,202 |6,056 |6,055 | |Facilities |70 |69 |70 |69 |69 | |Care places |7,867 |7,805 |7,867 |7,805 |7,805 | |Assisted living apartments |1,679 |1,681 |1,679 |1,681 |1,681 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | *) Number of underlying outstanding shares in Q3/2010: | | | |32,267,835 shares | | | | *) Number of underlying outstanding shares in Q3/2009: | | | |32,254,898 shares | | | | *) Number of underlying outstanding shares in 9M/2010: | | | |32,267,835 shares | | | | *) Number of underlying outstanding shares in 9M/2009: | | | |32,289,742 shares | | | |**) Cash Flow from operating activities Number of | | | |dividend-entitled shares | | | Third-quarter revenue was up by 1.7% year-on-year (Euro 1.1 million) to reach Euro 66.8 million. This increase was mainly due to the start-up of care homes in Braunschweig and Wachtendonk. Capacity at existing Curanum facilities also reported a pleasing trend in the third quarter, reaching the previous year's level. The personnel expense increased at a disproportionately faster rate of 4% (Euro 1.3 million) in the third quarter, to a level of Euro 34.0 million. Correspondingly, the personnel cost ratio was up by 1.1 percentage points to 50.9%. The increase was primarily due to the start-up of the new facilities in Braunschweig and Wachtendonk, as well as to a slight increase in the proportion of temporary help work. The introduction of the statutory minimum wage, and restructuring-related special effects, also burdened this item. The third-quarter rental expense of Euro 13.8 million was at the previous year's level. This is mainly due to relief effects arising from the sale-and- lease-back concept for our home in Greiz and a new finance lease contract four our home Geseke, as well as burdening effects arising from contractually agreed rental adjustments for some homes. Consequently, operating EBITDA earnings, in other words, earnings before interest, tax, depreciation and amortization, were almost unchanged at Euro 7.4 million, allowing the second quarter's falling earnings trend to be reduced. The post-tax result amounted to Euro 1.4 million in the third quarter, Euro 0.6 million below the previous year's level. Earnings per share amounted to Euro 0.04 as a consequence. Earnings after tax reached Euro 1.4 million as of September, which also corresponds to earnings per share of Euro 0.04. The Group's total assets at the end of the third quarter increased by Euro 31.9 million, or 13.5% compared with the start of the year, to reach Euro 268.3 million. Property, plant and equipment rose by Euro 18.6 million to Euro 214.4 million. This is mainly due to the capitalization of our new facility in Wachtendonk, new finance lease contracts for Geseke and Greiz and investments in existing facilities and the laundry.
The cash flow of the Curanum Group amounted to Euro 15.5 million as of September 2010. It consists of cash flow from operating activities of Euro 25.4 million (previous year: Euro 14.1 million), cash flow from investing activities of Euro 0.2 million (previous year: Euro -3.7 million), and cash flow from financing activities of Euro -10.1 million (previous year: Euro -12.8 million).
Munich, November 2010
The Management Board
end of announcement euro adhoc --------------------------------------------------------------------------------
Further inquiry note:
Bettina Pöschl, Marketing
Tel. +49(0)89-242065-69
E-Mail: bettina.poeschl@curanum.de
Branche: Healthcare Providers
ISIN: DE0005240709
WKN: 524070
Index: CDAX, Classic All Share, Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / regulated dealing
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