CURANUM AG

euro adhoc: Curanum AG
quarterly or semiannual financial statement / Publishing the figures of 2nd Quarter 2008

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quaterly report

12.08.2008

Ad-hoc-Mitteilung

NET PROFIT CLIMBS BY 18% IN THE FIRTST HALF OF 2008

CURANUM AG, Munich, generated revenue of EUR 63.7 million in the second  quarter of 2008 (previous year: EUR 56.9 million), which corresponds to an  increase  of 11.9%. The key factor for the   increase  was  the  first-time  consolidation  of ELISA Seniorenstift GmbH, with its six facilities,  which  was  acquired  as  of January 1,  2008.  First-half  revenue    nevertheless    fell    short    of     our expectations. During the course of the first half of the  year,   occupancy  fell due to greater competition, with a decline  between   February  and  the  end  of April to 88%, although it  has  been   rising  again  since  May.  However,  this positive trend in the second quarter was unable  to  fully  compensate  for  the fall in utilization.

Earnings before interest, tax, depreciation and amortization (EBITDA) increased slightly in the second quarter of 2008 from EUR 6.4 million to EUR 6.8  million. Depreciation and amortization rose from EUR 2.1 million to EUR 2.4 million,  and EBIT earnings before interest and tax grew from  EUR  4.3  million  to  EUR  4.5 million in the second quarter. After-tax earnings doubled from EUR  0.8  million to  EUR   1.7  million  when  compared  with  the  prior-year  reporting   period, primarily due to lower interest payments and a  lower  tax   rate.  Earnings  per share correspondingly rose from EUR 0.02 to EUR 0.05 per share.

Net profit rose 18.2% from EUR 3.2 million in the first half of 2007 to EUR  3.8 million. This resulted in earnings per share of EUR 0.12 for the first  half  of 2008 (previous year: EUR 0.11).

Cash flow  from  operating  activities  rose  due  to  the  slight   increase  in depreciation and amortization, the  increase  in   provisions,  and  due  to  tax rebates of around EUR 2.0 million in the first half of the year,  from  EUR  0.8 million in the previous year to EUR 9.0 million in  the  reporting  period  just passed, and consequently increased tenfold  compared  with  the  previous  year. However, cash flow rose in year-on-year comparison even  after  the   elimination of special  effects.  For  instance,  gross  cash  flow   (excluding  changes  in provisions and working capital) rose from EUR 8.0 million in the  previous  year to EUR 11.0 million in the first half of 2008.

Equity rose as a result of the second-half result to EUR 66.6 million (December 31, 2007: EUR 62.5 million). This is equivalent to  an   equity  ratio  of  27.1% (December 31, 2007: 26.1%).

CURANUM enjoys a solid starting base for  further  acquisitions  due to  strong growth in cash flow, pleasing growth in equity,  and  the accelerated  rate  of consolidation in the care market, and the company is confident that it can  make these acquisitions in the second half of 2008. We shall work further on  raising quality and occupancy in the remaining months of the year, and we  are  assuming that we shall maintain our current budgeting for the 2008 financial year.

Munich, August 12, 2008

The Management Board

@@start.t2@@|Key figures IFRS as of June 30, 2008      |              |              |          |          |
|                                         |         |         |              |              |          |          |
|                                         |          2nd    |                    1st  |      1st Quarter|
|                                         |Quarter         |Half                      |                        |
|mil. EUR                            |2008  |2007  |2008        |2007        |2008    |2007    |
|Sales                                 |63.7  |56.9  |127.5      |113.5      |63.7    |56.6    |
|Rental costs                      |13.4  |11.1  |27.2        |22.2        |13.8    |11.1    |
|EBITDA                                |6.8    |6.4    |14.7        |14.5        |7.9      |8.1      |
|Depreciation                      |2.4    |2.1    |4.7         |4.2         |2.3      |2.1      |
|EBIT                                  |4.5    |4.3    |10.0        |10.3        |5.5      |6.0      |
|Financial result                |-2.3  |-3.0  |-4.8        |-5.0        |-2.5    |-2.0    |
|EBT                                    |2.2    |1.3    |5.3         |5.3         |3.0      |4.0      |
|Net profit                         |1.7    |0.8    |3.8         |3.2         |2.2      |2.4      |
|Cashflow                            |4.9    |-2.8  |9.0         |0.8         |4.1      |3.5      |
|Cash and cash equivalents |11.2  |3.5    |11.2        |3.5         |10.0    |4.2      |
|in % of balance sum          |27.1% |27.4% |27.1%      |27.4%      |25.8%  |19.3%  |
|Balance sheet total          |246.0 |226.1 |246.0      |226.1      |250.8  |214.9  |@@end@@

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

Further inquiry note:
Bettina Pöschl
Tel. +49(0)89-242065-69
E-Mail: bettina.poeschl@curanum.de

Branche: Healthcare Providers
ISIN:      DE0005240709
WKN:        524070
Index:    SDAX, CDAX, Classic All Share, Prime All Share
Börsen:  Börse Frankfurt / regulated dealing/prime standard
              Börse Berlin / free trade
              Börse Hamburg / free trade
              Börse Stuttgart / free trade
              Börse Düsseldorf / free trade
              Börse München / regulated dealing



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