CURANUM AG

EANS-Adhoc: CURANUM AG
Publishing the figures Q3/ 2010

@@start.t1@@--------------------------------------------------------------------------------   ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro   adhoc with the aim of a Europe-wide distribution. The issuer is solely   responsible for the content of this announcement. --------------------------------------------------------------------------------@@end@@

9-month report/Publishing the figures Q3/ 2010

10.11.2010

Ad hoc

@@start.t2@@|                                            |              |              |              |              |              |
|                                            |              |              |              |              |              |
|THE GROUP AT A GLANCE          |              |              |              |              |              |
|as of September 30, 2010      |              |              |              |              |              |
|(IFRS)                                  |              |              |              |              |              |
|                                            |              |              |              |              |              |
|                                            |              |              |              |              |              |
|                                            |              |              |              |              |              |
|in mil. Euro                         |Q3/2010  |Q3/2009  |9M/2010  |9M/2009  |2009        |
|                                            |              |              |              |              |              |
|Revenue                                 |66.8        |65.7        |195.9      |193.1      |259.5      |
|Personnel expenditure          |34.0        |32.7        |100.2      |97.5        |130.5      |
|EBITDAR                                 |21.2        |21.3        |60.7        |61.8        |83.1        |
|Rental expense                      |13.8        |13.8        |41.5        |41.6        |55.5        |
|EBITDA                                  |7.4         |7.5         |19.2        |20.1        |27.6        |
|as % of revenue                    |11.1%      |11.4%      |9.8%        |10.4%      |10.6%      |
|Depreciation / amortization |2.7         |2.5         |7.6         |7.3         |9.8         |
|EBIT                                      |4.7         |5.0         |11.6        |12.8        |17.8        |
|as % of revenue                    |7.0%        |7.6%        |5.9%        |6.6%        |6.9%        |
|Net financial result            |-2.5        |-2.3        |-7.3        |-6.7        |-8.9        |
|EBT                                        |2.2         |2.7         |4.3         |6.1         |8.9         |
|Net profit                            |1.4         |2.0         |1.4         |4.2         |5.8         |
|EPS (Euro)*                          |0.04        |0.06        |0.04        |0.13        |0.18        |
|                                            |              |              |              |              |              |
|Cash Flow                              |14.8        |5.4         |25.4        |14.1        |19.9        |
|CPS (Euro)**                         |0.46        |0.17        |0.79        |0.44        |0.62        |
|                                            |              |              |              |              |              |
|Cash and cash equivalents    |24.4        |7.6         |24.4        |7.6         |8.9         |
|Equity                                  |67.3        |64.3        |67.3        |64.3        |66.1        |
|as % of total equity and      |25.1%      |27.2%      |25.1%      |27.2%      |28.0%      |
|liabilities                          |              |              |              |              |              |
|Total assets                         |268.3      |236.8      |268.3      |236.8      |236.4      |
|                                            |              |              |              |              |              |
|Employees                              |6,275      |6,091      |6,202      |6,056      |6,055      |
|Facilities                            |70          |69          |70          |69          |69          |
|Care places                          |7,867      |7,805      |7,867      |7,805      |7,805      |
|Assisted living apartments  |1,679      |1,681      |1,679      |1,681      |1,681      |
|                                            |              |              |              |              |              |
|                                           |             |             |             |             |             |
|                                            |              |              |              |              |              |
|                                            |              |              |              |              |              |
| *) Number of underlying outstanding shares in Q3/2010:      |              |
|
|32,267,835 shares                                                                  |              |
|
| *) Number of underlying outstanding shares in Q3/2009:      |              |
|
|32,254,898 shares                                                                  |              |
|
| *) Number of underlying outstanding shares in 9M/2010:      |              |
|
|32,267,835 shares                                                                  |              |
|
| *) Number of underlying outstanding shares in 9M/2009:      |              |
|
|32,289,742 shares                                                                  |              |
|
|**) Cash Flow from operating activities Number of                |              |
|
|dividend-entitled shares                                                        |              |
|

Third-quarter revenue was up by 1.7% year-on-year (Euro 1.1  million)  to  reach Euro 66.8 million. This increase was mainly due to the start-up  of  care  homes in Braunschweig and Wachtendonk. Capacity at existing  Curanum  facilities  also reported a pleasing trend in the third quarter,  reaching  the  previous  year's level.

The personnel expense increased at a disproportionately faster rate of 4%  (Euro 1.3  million)  in  the  third  quarter,  to  a  level  of  Euro  34.0    million. Correspondingly, the personnel cost ratio was up by  1.1  percentage  points  to 50.9%. The increase was primarily due to the start-up of the new  facilities  in Braunschweig and Wachtendonk, as well as to a slight increase in the  proportion of temporary help work. The introduction of  the  statutory  minimum  wage,  and restructuring-related special effects, also burdened this item.

The third-quarter rental expense of  Euro  13.8  million  was  at  the  previous year's level. This is mainly due to relief effects arising  from  the  sale-and- lease-back concept for our home in Greiz and a new finance lease  contract  four our home Geseke, as well as burdening effects arising from contractually  agreed rental adjustments for some homes.   Consequently,  operating  EBITDA  earnings,  in  other  words,  earnings  before interest, tax, depreciation and amortization, were almost unchanged at Euro  7.4 million, allowing the second quarter's falling earnings trend to be reduced.

The post-tax result amounted to Euro 1.4 million in the third quarter, Euro  0.6 million below the previous year's level. Earnings per  share  amounted  to  Euro 0.04 as a consequence. Earnings  after  tax  reached  Euro  1.4  million  as  of September, which also corresponds to earnings per share of Euro 0.04.

The Group's total assets at the end of the third quarter increased by Euro  31.9 million, or 13.5% compared with the start of  the  year,  to  reach  Euro  268.3 million.

Property, plant and equipment rose by Euro 18.6 million to Euro  214.4  million. This is mainly due to the capitalization of our  new  facility  in  Wachtendonk, new finance lease contracts for Geseke and Greiz  and  investments  in  existing facilities and the laundry.@@end@@

The cash flow of  the  Curanum  Group  amounted  to  Euro  15.5   million  as  of September 2010. It consists of cash flow from operating activities of Euro  25.4 million (previous year: Euro 14.1 million), cash flow from investing  activities of Euro 0.2 million (previous year: Euro  -3.7  million),  and  cash  flow  from financing activities of Euro -10.1 million (previous year: Euro -12.8 million).

Munich, November 2010

The Management Board

@@start.t3@@end of announcement                                                 euro adhoc
--------------------------------------------------------------------------------@@end@@

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

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



Weitere Meldungen: CURANUM AG

Das könnte Sie auch interessieren: