Eckert & Ziegler delivers a record result
2019-04-05 / In 2018, the Berlin-based Eckert & Ziegler Strahlen- und Medizintechnik AG (ISIN DE0005659700), a specialist in isotope technology applications in medicine, science and industry, generated sales of EUR 168.7 million (previous year: EUR 138.6 million based on continuing operations) and thus clearly surpassing its previous record sales in 2017. Consolidated net income also reached a new high of EUR 16.1 million (previous year: EUR 14.7 million) translating into earnings per share of EUR 3.12.
The strong euro had an adverse effect on foreign currency sales and sales growth in all segments, costing the Group EUR 4.4 million in sales compared to the previous year. On a currency-adjusted basis, sales would have increased by EUR 34.5 million or 25%. Organic, real sales growth, i.e. sales adjusted for currency effects and acquisitions and disposals made in 2017 and 2018, amounted to EUR 25.6 million or 18%.
The Isotope Products segment posted the largest increase in sales based on continuing operations, increasing its sales by EUR 22.6 million or 25% to EUR 112.3 million due to the consolidation of the Gamma-Service Group acquired at the end of May 2017 and the strong demand in the energy sector.
Sales in the Radiation Therapy segment increased by EUR 4.7 million or 18% to EUR 30.6 million, driven by solid sales generated by HDR tumour irradiation systems and WOMED acquired in January 2018.
The Radiopharma segment increased sales by 18% to EUR 31.5 million, mainly driven by pharmaceutical radioisotopes.
Cash and cash equivalents as at 31 December 2018 amounted to EUR 54.2 million. While this represents a decline of EUR 3.5 million compared to the end of 2017 it is mainly due to the purchase of own shares in 2018. Without these expenses cash and cash equivalents would have been EUR 10 million higher. However, this is still a very solid result, which together with the lack of bank debt makes the Eckert & Ziegler Group optimally prepared to tackle future projects.
In the 2019 financial year, the Group expects sales and EBIT to increase to around EUR 180 million and EUR 23.5 million, respectively This should result in a consolidated net income of around EUR 18 million, translating into earnings per share of EUR 3.50. The forecasts assume an exchange rate not moving above USD 1.20 per EUR.
The Executive Board and the Supervisory Board will propose a dividend of EUR 1.20 per dividend-bearing share (previous year: EUR 0.80) to the Annual General Meeting to be held on 29 May 2019.
The complete financial statements for the 2018 financial year can be viewed here: https://www.ezag.com/home/investors/reports/
About Eckert & Ziegler.
Eckert & Ziegler Eckert & Ziegler Strahlen- und Medizintechnik AG (ISIN DE0005659700), with around 800 employees, is one of the world's largest providers of isotope-related components for radiation therapy and nuclear medicine.