CURANUM AG

euro adhoc: Curanum AG
quarterly or semiannual financial statement
CURANUM raises profit after tax by around 60 %

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11.05.2006

In the first quarter of 2006, the Munich-based operator of care and nursing facilities raised sales revenues by 10 % to EUR 50.9 million (1Q05: EUR 46.2 million) which breaks down as follows: EUR 47.2 million from nursing care services (92.6 %), EUR 2.5 million from letting sheltered apartments and outpatient services (5 %) and EUR 1.2 million from other sales revenues (2.4 %). Earnings before interest, tax, depreciation and amortization (EBITDA) climbed 25.4 % to EUR 7.4 million (1Q05: EUR 5.9 million), bringing the EBITDA margin to 14.5%, up from 12.8 %, in the first quarter of 2006. Earnings before interest and tax (EBIT) rose 45.0 % to EUR 5.8 million (1Q05: EUR 4.0 million), and the EBIT margin stood at 11.4 % (1Q05: EUR 8.7 %). Owing to higher bank and finance lease liabilities, the financial result fell from EUR -1.3 million to EUR -1.7. Earnings before tax (EBT) rose to EUR 4.1 million, up from EUR 2.7 million. Profit after tax developed well, climbing from EUR 1.6 million in the first quarter of 2005 to EUR 2.6 million in the period under review. Earnings per share (EPS) increased from EUR 0.06 to EUR 0.09.

In the first three months of the current financial year, the operating cash flow advanced to EUR 4.2 million (1Q05: EUR 2.0 million), and the cash flow per share (CFS) doubled, from EUR 0.07 to EUR 0.14.

All in all, we are very satisfied with the process of integrating the new facilities in North Rhine Westphalia, although occupancy is slightly below our expectations. The performance figures for the CURANUM Group are in line with our planning. We therefore expect to achieve our targets for the year as a whole.

Munich, 11 May 2006

The Management Board

In EUR million                      1Q06  1Q05  y/y      2005
Sales revenues                      50.9  46.2  10.2%  188.5
Personnel expenses                25.8  23.4  10.3%  95.5
Rental expenses                    10.2  8.2    24.4%  32.7
EBITDA                                  7.4    5.9    25.4%  25.8
as % of sales                        14.5% 12.8%            13.7%
Depreciation & amortization 1.6    1.9    -15.8% 6.1
EBIT                                      5.8    4.0    45.0%  19.6
as % of sales                        11.4% 8.7%              10.4%
Financial result                  -1.7  -1.3  30.8%  -7.4
EBT                                        4.1    2.7    51.9%  12.2
Net profit                            2.6    1.6    62.5%  7.3
EPS (EUR)                              0.09  0.06  50.0%  0.25
Cash flow                              4.2    2.0    110.0% 12.7
CPS (EUR)                              0.14  0.07  100.0% 0.43
Cash & cash equivalents        7.2    2.2    227.3% 2.2
Equity                                  39.7  39.5  0.5%    35.9
as % of total assets            22.9% 21.1%            22.4%
Total assets                         173.5 187.5 -7.5%  160.5
Employees                              4,756 4,054 17.3%  4,150
Facilities                            52      45      15.6%  45
Care places                          6,520 5,641 15.6%  5,641
Sheltered apartments            693    686    1.0%    686

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ots Originaltext: Curanum AG
Im Internet recherchierbar: http://www.presseportal.de

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, SDAX
Börsen:  Frankfurter Wertpapierbörse / regulated dealing/prime
              standard
              Bayerische Börse / regulated dealing
              Börse Berlin-Bremen / free trade
              Hamburger Wertpapierbörse / free trade
              Baden-Württembergische Wertpapierbörse / free trade
              Börse Düsseldorf / free trade



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