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Eckert & Ziegler: Sales Growth and Strong Operating Result in the First Quarter

2016-05-10 / Eckert & Ziegler Strahlen- und Medizintechnik AG (ISIN DE0005659700), a Berlin-based company specializing in isotope technology for medical, scientific and industrial applications, reported sales of € 35.8 million (+6%) in the first quarter of 2016. All segments registered organic growth. However, the previous year’s EBIT level could not quite be achieved as the prior-year period included a positive currency effect of € 1.3 million, meaning that EBIT declined by € 0.9 million to € 4.3 million. Earnings after minority interests fell by € 0.2 million to € 2.5 million, or € 0.47 per share.

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The Isotope Products segment showed the strongest growth with € +1.6 million. At slightly higher costs, EBIT was 5% below the prior year at € 3.5 million. As of 2016, the Isotope Products segment includes Environmental Services which was previously reported under the Others segment. For comparative purposes, the prior year’s figures have also been adjusted accordingly.

In the Radiation Therapy segment, as expected, sales declined due to the disposal of the US implant division. Organic growth was achieved with the new SagiNova® tumor irradiation device. After a long time, the segment achieved balanced operating results once again. One-off effects of € -0.3 million each for expenses from the disposal of the US division and a negative currency effect led to an EBIT of € -0.6 million.

Sales grew in the Radiopharma segment, particularly with gallium generators. The cyclotron division, on the other hand, registered a downward trend during the whole of 2015. However, this trend reversed in the first quarter of 2016. Sales and earnings generated with cyclotron products for diagnosing cancer and Alzheimer’s disease almost achieved the level seen in the first quarter of 2015. EBIT rose by € 0.1 million to € 1.5 million.

Operative cash flow increased by 31% to € 0.8 million. This effect is due to a good result for the period, which in contrast to the previous year does not include non-cash results.

Compared to 2015, more or less constant sales of € 140 million are expected for 2016. Profit is likely to decline to around € 1.80 per share due to the absence of positive one-off effects.

The complete quarterly financial statements can be viewed under:
http://www.ezag.com/fileadmin/ezag/user-uploads/pdf/financial-reports/englisch/euz116e.pdf

About Eckert & Ziegler.
Eckert & Ziegler Strahlen- und Medizintechnik AG (ISIN DE0005659700), with approximately 700 employees, is one the world’s largest providers of isotope technology for radiation therapy and nuclear medicine.
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