euro adhoc: W.O.M. World of Medicine AG
other
WORLD OF MEDICINE
reduces dependancy on US dollar exchange rate/
Margin improvement of US-$ 2.0 million p.a. expected/
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
07.02.2005
WORLD OF MEDICINE, developer of medical device technology, today signed a contract to move a larger purchasing volume to US dollar based economies. This will take effect as of the second quarter 2005.
As a result, the Company will hedge its US dollar revenues with costs in the same currency. This reduces the dependancy on the EUR/US-$ exchange rate. WORLD OF MEDICINE generates approximately 40 % of its revenues in the US.
This first executed step will improve margins by approximately US-$ 2.o million p.a..
The contract is an important condition for a sustainable confirmation of the operative turn-around in the core business Minimally Invasive Surgery in 2005.
WORLD OF MEDICINE and its technology are considered to be paving the way for innovative procedures in the area of Minimally Invasive Surgery - MIS for short- with more than 30 years of experience in this growing market. This is substantiated by the 50 % global market share WORLD OF MEDICINE holds in its core business Flow&FluidWORLD®, long standing relationships with more than 200 business partners, more than 35 FDA-approved products in the United States, more than 50 patents, and the high quality offered by the production facility in Ludwigsstadt/Germany. The stock of WORLD OF MEDICINE (ISIN DE 0006637390) is listed at the Prime Standard of the Frankfurt stock exchange. Since January 3, 2005 it is listed in the German Entrepreneurial Index (GEX).
end of announcement euro adhoc 07.02.2005 14:14:00
Further inquiry note:
Stefanie Gehrke
Tel.: +49 (0)30 39981 566
E-Mail: stefanie.gehrke@womcorp.com
Branche: Pharmaceuticals
ISIN: DE0006637390
WKN: 663739
Index: Prime Standard, CDAX, Prime All Share, Technologie All Share
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