DGAP-News: MeVis Medical Solutions AG: MeVis publishes

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Apr 24, 2014 at 1:45 AM

DGAP-News: MeVis Medical Solutions AG: MeVis publishes final figures for fiscal year 2013 / Shares in Medis sold in April 2014

DGAP-News: MeVis Medical Solutions AG / Key word(s): Final Results MeVis Medical Solutions AG: MeVis publishes final figures for fiscal year 2013 / Shares in Medis sold in April 2014 24.04.2014 / 07:30 --------------------------------------------------------------------- 2013 strongest year since IPO in 2007 - Group revenues increased by 10 % year on year to EUR 14.6 m - Earnings before interest and taxes (EBIT) increased significantly by EUR 1.0 m to EUR 4,0 m - Net income of EUR 3.7 m (previous year EUR 2.2 m) - Earnings per share increased from EUR 1.26 to EUR 2.14 - Liquidity increased by EUR 5.3 m to EUR 14.0 m (Dec.31, 2012: EUR 8.7 m) - Sale of 41 % share in Medis in April 2014 at carrying value Bremen, April 24, 2014 - MeVis Medical Solutions AG [ISIN: DE000A0LBFE4], a leading provider of medical imaging software, today announced its final figures for fiscal year 2013, which correspond to the preliminary figures released on March 5, 2014. The group revenues generated in 2013 amounted to EUR 14.6 m, up 10 % compared to the previous year's revenues of EUR 13.3 m. The increase in licensing business by 9 % from EUR 7.0 m to EUR 7.6 m as well as an increase in non-recurring engineering contributions of EUR 0.5 m to EUR 0.8 m contributed to this growth. Maintenance revenues grew by 4 % to EUR 6.2 m. The increase in revenues resulted almost entirely from the Digital Mammography segment, where revenues rose from EUR 10.1 m to EUR 11.3 m, while revenues in the Other Diagnostics segment grew only marginally from EUR 3.2 m to EUR 3.3 m. Operating costs could be reduced again in 2013 as staff costs decreased by EUR 0.2 m from EUR 8.1 m to EUR 7.9 m and other operating expenses by as much as EUR 0.4 m from EUR 2.3 m to EUR 1.9 m. In 2013 the capitalization of development costs has been cut nearly in half by EUR 1.0 m from EUR 2.4 m to EUR 1.4 m. This effect is almost entirely offset by a decrease in depreciation of EUR 0.9 m from EUR 3.0 m to EUR 2.1 m. For 2013 this results in an EBIT (earnings before interest and taxes) of EUR 4.0 m, which is EUR 1.0 m higher than previous year and corresponds to an EBIT margin of 28 % (previous year: 22 %). After an improved financial result of EUR -0.2 m (previous year: EUR -0.6 m) and a low tax expense of EUR 0.1 m (previous year: EUR 0.2 m) the consolidated net result came to EUR 3.7 m (previous year: EUR 2.2 m), which corresponds to earnings per share of EUR 2.14 (previous year: EUR 1.26). Cash and cash equivalents increased significantly in 2013 and amounted to EUR 14.0 m at year-end (compared to EUR 8.7 m as at December 31, 2012). In addition to the good operating performance, the reduction of receivables has contributed significantly to this very strong cash flow of EUR 5.3 m. "Over the past two years we already considerably simplified the structure of MeVis. In order to focus on our industrial customers, our online services as well as our core fields breast, lung and liver we have sold our 41% stake in the Dutch Medis Holding B.V. to the majority stake holder and original owner the Reiber Consultancy B.V. in April." said Dr. Robert Hannemann, CFO of MeVis Medical Solutions AG. "The proceeds from the sale of our shares in the amount of EUR 0.5 m approximately equals the carrying value of the investment, so that the divestment has largely no effect on the net income." "Following the early extension of the existing license agreement with Hologic until end of 2015 we substantiate our discussions with Hologic about the further cooperation and our future support in development. We expect to achieve a contractual agreement on this within this quarter." added Marcus Kirchhoff, CEO of MeVis Medical Solutions AG. "The expansion of the industrial customers segment through broadening of the product range for our existing customers as well as through enhanced acquisition of new customers is the essential focus of our activities. In addition to expanding our clinical and technological expertise in breast diagnostic we will increasingly put or focus on the development of a lung screening solution. We see lung screening as the market with the highest growth potential in the near future." The interim financial statement for the first quarter 2014 will be published on May 19, 2014. End of Corporate News --------------------------------------------------------------------- 24.04.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: MeVis Medical Solutions AG Caroline-Herschel-Str. 1 28359 Bremen Germany Phone: +49 421 224 95 0 Fax: +49 421 224 95 999 E-mail: ir@mevis.de Internet: http://www.mevis.de ISIN: DE000A0LBFE4 WKN: A0LBFE Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, DÃ¼sseldorf, MÃ¼nchen, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 264281 24.04.2014

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