Ad-hoc News
26.02.2010
biolitec AG back in the profit zone – EBIT rises to Euro 1.46 million in the second quarter 2009/2010 – cost savings take effect
Jena, February 26th, 2010 – biolitec AG, Jena, listed in the Prime Standard of the Frankfurt stock exchange (ISIN DE0005213409), realized a consolidated revenue of Euro 14.4 million in the first two quarters of the fiscal year 2009/2010 and an EBIT amounting to Euro 1.46 million. With this, biolitec has already exceeded the previous year’s result in the reference period by over Euro 2 million.
While turnover in the second quarter exceeded the first by a healthy 33%, the 6 months turnover was still below last year’s by 6.4%. The cost savings in the first two quarters of the fiscal year 2009/2010 had a considerable impact on the company’s profitability.
The gross profit slightly exceeded Euro 10 million (last fiscal year: Euro 10.1 million) and EBIT amounted to Euro 1.46 million (previous year: Euro - 0.59 million). R&D expenditures for the first six months of the fiscal year 2009/2010 of Euro 1.47 million (about 10% of sales) compared to the previous year (Euro 2.60 million) remained reduced, but on the required level to ensure growth in the long-term and permanent profitability. Sales and marketing expenses were reduced remarkably to Euro 4.52 million compared to Euro 6.25 million in last year’s period.
The revenue posted by the laser segment of Euro 3.57 million was lower than in the prior year (Euro 4.64 million) due to the investment restraint in hospitals and private clinics. The fiber optics and laser probes segment contributed Euro 10.26 million to the group’s total revenue and exceeded the previous year’s level, indicating a persistent market and further increasing number of treatments. Main contributions to sales were BPH laser treatments (LIFE™) and endoluminal laser procedures for veins (ELVeS™ PainLess).
biolitec AG’s major revenues were again generated in Europe and North America. Sales in North America with Euro 5.74 million were above previous year’s level. European sales amounted to Euro 6.86 million. Asia and ROW sales of Euro 1.86 million (Last year Euro 1.92 million) decreased slightly. biolitec AG expects sales growth to pick up during the fiscal year, when the propensity to invest rises again. Due to the improved cost structure compared to the previous year the profit should increase further.
The two mainstays of sales LIFE™ for the treatment of BPH and ELVeS™ PainLess for the treatment of varicose veins present considerable growth potential for the future. With Evolve® DUAL – a laser with parallel working wavelengths – the TWISTER™ fiber in the field of urology as well as the new RADIAL fiber for the treatment of varicose veins with 360° circumferential energy emission ,innovative fiberoptic technology, was introduced to this promising markets. With these two already established systems biolitec expects substantial revenue potential for the upcoming financial years.
Due to the staff reduction and the cost savings in total, we expect further stabilization of profits. Inventories and working capital will further decrease in the coming quarters.
