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euro adhoc: Curanum AG
Quarterly or Semiannual Financial Statements / CURANUM trebles net income for the period in first quarter of 2004 (E)

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
This Prime Standard-listed operator of care and nursing facilities
increased its aggregate group sales from EUR 41.2 million to EUR 43.3
million in the first quarter of the current financial year, marking a
rise of 5.1%. At 90.9%, income from nursing care services made the
largest contribution to the sales revenues of EUR 42.6 million
(previous year EUR 40.4 million), with sheltered apartments
contributing 5.3%, outpatient services 1.3% and other sales revenues,
e.g. refunds or rentals to third parties 2.6%.
Earnings before interest, taxes, depreciation and amortization
(EBITDA) increased by almost 32% to EUR 2.3 million (year EUR 1.8
million). The first quarter, which is traditionally weak in the
nursing care segment, showed an outstanding trend in the financial
year 2004, with earnings before interest and taxes (EBIT) moving
ahead from EUR 1.2 million in the previous year to EUR 1.7 million
(+36.5%). The financial result was improved slightly to EUR -229,000
(previous year EUR -241,000), while earnings before tax (EBT)
increased by 46.8% to EUR 1.4 million (previous year EUR 983,000).
With taxes on income coming to EUR 714,000 (previous year EUR
696,000), consolidated net income for the period amounted to EUR
668,000, which is three times the figure achieved in the previous
year’s reporting period (EUR 223,000). With 29,700,000 outstanding
shares, this corresponds to earnings per share of EUR 0.02 (previous
year EUR 0.008) for the first quarter of the current financial year.
The company’s expansion is being driven forward according to
planning, with candidates for acquisition being sounded out and,
should they fulfill the criteria established by CURANUM, subjected to
close examination. The cost reduction measures are already bearing
fruit, as these quarterly financial statements show, and further
income-generating potential will be exploited in the current
financial year in the form of fixed cost degression and synergies in
the field of secondary services. The current figures show that
CURANUM AG is progressing according to planning. In view of the
course of the financial year 2004 to date, the Management Board is
assuming that its projections and plans will be at least fulfilled.
Please send your inquiries to:
CURANUM AG
Investor Relations
Maximilianstr. 35c
80539 Munich
Tel. (089) 242065-60
Fax (089) 242065-10 
info@curanum.de
www.curanum.de
end of announcement        euro adhoc 17.05.2004

Further inquiry note:

Bernd Rothe
Tel.: +49 (0)89 242065-60
E-Mail: bernd.rothe@curanum.de

Branche: Healthcare Providers
ISIN: DE0005240709
WKN: 524070
Index: CDAX, Classic All Share, Prime All Share, Prime Standard
Börsen: Bayerische Börse / regulated dealing
Frankfurter Wertpapierbörse / regulated dealing
Berliner Wertpapierbörse / free trade
Hamburger Wertpapierbörse / free trade
Bremer Wertpapierbörse (BWB) / free trade
Börse Düsseldorf / free trade
Baden-Württembergische Wertpapierbörse / free trade

Original content of: Korian GmbH, transmitted by news aktuell