euro adhoc: Euromed AG
Quarterly or Semiannual Financial Statements
EUROMED AG: Higher sales reported - EBIT in line with expectations (E)
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Fürth, May 8, 2002. EUROMED AG (Securities Identification No. 570 680) sales increased slightly in the 1st quarter of 2002 compared to last year. Sales rose EUR 85,000 to EUR 5,344,000. As expected, earnings before interest and taxes (EBIT) compared to the same quarter last year decreased, from EUR 590,000 to EUR 152,000.
Other operating expenses and personnel costs increased by EUR 624,000 compared to the same period last year. This increase resulted in particular from the higher costs of operating the expanded clinic located in Fürth. In response to this development, a cost-reduction program was introduced at the beginning of the year, the economic impact of which is expected to be felt starting in the 2nd quarter. A series of measures reduced the number of employees by 23 positions and organizational units were spun off through outsourcing.
First-quarter results were as planned. Due to seasonal factors typical for hospitals, sales for the next two quarters are expected to remain lower than the numbers for the 1st quarter. To support the earnings targets for fiscal year 2002, the course that has been followed thus far to reduce costs will continue into the future.
Contact: Harald Niebler, Investor Relations, EUROMED AG, www.euromed.de Tel: 0911 9714-604, Fax: 0911 9714-607, e-mail: hniebler@euromed.de
end of announcement euro adhoc 08.05.2002
Further inquiry note:
Herr Niebler Harald
Branche: Healthcare Providers
ISIN: DE0005706808
WKN: 570680
Börsen: Deutsche Börse AG Frankfurt