Eckert & Ziegler Q3/2014: Sales up, income mixed
2014-11-06 / Berlin-based Eckert & Ziegler Strahlen- und Medizintechnik AG (ISIN DE0005659700), a specialist in isotope technology applications for medicine, science and industry, has increased sales by 7% year on year to € 92.6 million in the first nine months of 2014. Adjusted for exchange rates, sales growth amounted to € 7.5 million. Of this amount, € 6.9 million relates to acquisitions and € 0.6 million to organic sales growth. Despite the increase in sales, EBIT fell by € 1.5 million to € 10.0 million and EPS to 1.05 EUR in the first nine months of the year.
This was mainly attributable to the disappointing development in the Radiation Therapy segment. Although the segment could increase sales by € 0.6 Mio. to € 19.5 Mio. due to acquired products, the increase remained behind expectations and sales with existing products decreased. Poor sales directly impacted segment profits. Segment EBIT amounts to € - 2.4 million in the first nine months of the year.
Despite very positive developments, this slump could not be offset by the remaining segments.
The largest segment, the Isotope Products segment, reported organic sales growth of 9%. Sales growth amounted to € 2.9 million in spite of unfavorable exchange rate effects. However, EBIT only rose by € 0.2 million due to the lack of a positive special effect from the prior year and it was mainly the lower-margin products that reported growth.
The successful Radiopharma segment continued to profit from the acquisition in Austria as well as from rising sales in the device business and contract manufacturing. Sales were up a total of 14 % to € 24.1 million and EBIT more than doubled to € 2.5 million.
The new Others segment contains Environmental Services and Holding, which were previously reported separately. The EBIT losses in this segment narrowed significantly from € - 4.0 million to € 2.6 million.
A sales target of € 134 million had been set so far for 2013. However, this figure appears to be ambitious in view of the weak sales in the Radiation Therapy segment. The income target of € 10.5 million or € 2.00 per share remains achievable under optimistic assumptions.
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About Eckert & Ziegler
Eckert & Ziegler Strahlen- und Medizintechnik AG (ISIN DE0005659700), with more than 700 employees, is one of the world's largest providers of isotope technology for radiation therapy and nuclear medicine.
Contributing to saving lives
Eckert & Ziegler AG, Karolin Riehle, Investor Relations, Robert-Rössle-Str. 10, 13125 Berlin
Tel.: +49 (0) 30 / 94 10 84-138,