CURANUM AG

euro adhoc: Curanum AG
Quarterly or Semiannual Financial Statements / CURANUM trebles net income for the period in first quarter of 2004 (E)

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This Prime Standard-listed operator of care and nursing facilities increased its aggregate group sales from EUR 41.2 million to EUR 43.3 million in the first quarter of the current financial year, marking a rise of 5.1%. At 90.9%, income from nursing care services made the largest contribution to the sales revenues of EUR 42.6 million (previous year EUR 40.4 million), with sheltered apartments contributing 5.3%, outpatient services 1.3% and other sales revenues, e.g. refunds or rentals to third parties 2.6%.

Earnings before interest, taxes, depreciation and amortization (EBITDA) increased by almost 32% to EUR 2.3 million (year EUR 1.8 million). The first quarter, which is traditionally weak in the nursing care segment, showed an outstanding trend in the financial year 2004, with earnings before interest and taxes (EBIT) moving ahead from EUR 1.2 million in the previous year to EUR 1.7 million (+36.5%). The financial result was improved slightly to EUR -229,000 (previous year EUR -241,000), while earnings before tax (EBT) increased by 46.8% to EUR 1.4 million (previous year EUR 983,000).

With taxes on income coming to EUR 714,000 (previous year EUR 696,000), consolidated net income for the period amounted to EUR 668,000, which is three times the figure achieved in the previous year’s reporting period (EUR 223,000). With 29,700,000 outstanding shares, this corresponds to earnings per share of EUR 0.02 (previous year EUR 0.008) for the first quarter of the current financial year.

The company’s expansion is being driven forward according to planning, with candidates for acquisition being sounded out and, should they fulfill the criteria established by CURANUM, subjected to close examination. The cost reduction measures are already bearing fruit, as these quarterly financial statements show, and further income-generating potential will be exploited in the current financial year in the form of fixed cost degression and synergies in the field of secondary services. The current figures show that CURANUM AG is progressing according to planning. In view of the course of the financial year 2004 to date, the Management Board is assuming that its projections and plans will be at least fulfilled.

Please send your inquiries to:

CURANUM AG Investor Relations Maximilianstr. 35c 80539 Munich Tel. (089) 242065-60 Fax (089) 242065-10 info@curanum.de www.curanum.de

end of announcement            euro adhoc 17.05.2004
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Further inquiry note: Bernd Rothe Tel.: +49 (0)89 242065-60 E-Mail: bernd.rothe@curanum.de

Branche: Healthcare Providers
ISIN:      DE0005240709
WKN:        524070
Index:    CDAX, Classic All Share, Prime All Share, Prime Standard
Börsen:  Bayerische Börse / regulated dealing
              Frankfurter Wertpapierbörse / regulated dealing
              Berliner Wertpapierbörse / free trade
              Hamburger Wertpapierbörse / free trade
              Bremer Wertpapierbörse (BWB) / free trade
              Börse Düsseldorf / free trade
              Baden-Württembergische Wertpapierbörse / free trade



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