Eckert & Ziegler off to a strong start in 2019
2019-05-07 / Berlin-based Eckert & Ziegler Strahlen- und Medizintechnik AG (ISIN DE0005659700), a specialist in isotope-related applications in medicine, science and industry, increased its sales in the first quarter 2019 by 22 % to € 43.5 million year on year. Net income from continuing operations achieved € 5.8 million and thus increased by € 3.5 million or 152 % year on year. Earnings per share increased by € 0.70 to € 1.14. The causes of the higher net profit for the year were growth in sales and a more favorable product mix.
The greatest spurt of growth was recorded in the Radiopharma segment, which was essentially driven by continuing attractive sales of pharmaceutical radioisotopes to reach a level of € 10.0 million, an increase of € 3.4 million or 52% year-on-year. The Isotope Products segment also achieved a clear increase in sales of 18% or € 4.2 million, reaching a total of € 28.2 million. The Radiation Therapy segment, however, recorded a slight drop in sales, achieving € 6.4 million, which represents a fall of around 6% year-on-year.
The operating cash flow rose significantly by € 6.4 million to € 7.7 million. Decisive factors here were the increase of € 3.5 million in the result for the period and the non-cash effects from the depreciation of assets, which rose by € 0.7 million. Overall, cash and cash equivalents as of March 31, 2019 had increased by € 5.9 million since the end of 2018, and now amount to € 60.1 million.
The management is maintaining its projection that an annual surplus of approximately € 3.50 per share and sales of approximately € 180 million will be achieved. This outlook is based on the assumption that the euro exchange rate does not exceed $ 1.20.
The complete financial statements can be viewed here: