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Abonner W.O.M. World of Medicine AG

W.O.M. World of Medicine AG

euro adhoc: W.O.M. World of Medicine AG
Annual Reports
WORLD OF MEDICINE Annual Figures for 2003: Sales Goal of EUR 31.3 Million Achieved (Last Year: EUR 30.9 Million)
EBIT Improved by Increased Profitability in Core Business of Minimally Invasiv

  Disclosure announcement transmitted by euro adhoc.
  The issuer is responsible for the content of this announcement.
(Berlin,  March 10, 2004)
WORLD OF MEDCINE has achieved its targeted goal of sales stability
through a slight increase in sales to EUR 31.3 million (last year: 
EUR 30.9 million).  The core business, Flow&FluidWORLD® , improved
its operating earnings before interest and taxes to EUR 1.9 million
(last year: EUR 1.0 million).  Improved profitability in all
divisions of the core business in Minimally Invasive Surgery (MIS®)
led to an improvement in EBIT to EUR -1.5 million (last year:  EUR
-1.9 million).
The operative turnaround goal, however,  has not yet been reached. 
This can be attributed specifically to the fourth quarter performance
of the IB Laser subsidiary, which clearly fell below expectations. 
The Chairman of IB Laser, Dr. Peter Wolff, has stepped down.  Michael
Ott, CFO for WORLD OF MEDICINE, will again assume increased
responsibility for the management of IB Laser until its is sold as
planned, or a sustainable turnaround is accomplished.  As CEO of IB
Laser, he had led the business into the profit zone as recently as
2002.
WORLD OF MEDICINE revenues after interest and taxes of EUR -3.7
million (last year:  EUR -2.1 million) were negatively impacted by
extraordinary expenditures amounting to EUR 1.9 million.  These
include costs generated by the closing of VisionWORLD production in
Gröbenzell/Munich.   In addition, as a precautionary measure to cover
risk at IB Laser, accruals on accounts receivable were charged off in
the amount of EUR 0.7 million.
The annual savings of EUR 3.5 million garnered from the cost
reduction program implemented in mid-2002 will take full effect as of
2004, as planned.  A higher volume of orders at EUR 9.1 million (last
year:  EUR 8.4 million), a 3% increase in orders filled in 2003, as
well as general contract agreements concluded for existing and new
products are all indicators of the continued upswing in demand. 
Management is anticipating an operative turnaround and a continued
increase in sales volume for the current year.
WORLD OF MEDICINE is issuing its Annual Report on March 25, 2004, as
scheduled.
The Management Board
end of announcement        euro adhoc 10.03.2004

Further inquiry note:

Stefanie Gehrke, tel.: +49 (0) 30 399 81 566, 0172-402 67 40,
stefanie.gehrke@womcorp.com

Branche: Pharmaceuticals
ISIN: DE0006637390
WKN: 663739
Index: CDAX, Prime All Share, Prime Standard, Technologie All Share
Börsen: Frankfurter Wertpapierbörse / regulated dealing
Niedersächsische Börse zu Hannover / free trade
Berliner Wertpapierbörse / free trade
Bayerische Börse / free trade
Hamburger Wertpapierbörse / free trade
Bremer Wertpapierbörse (BWB) / free trade
Börse Düsseldorf / free trade
Baden-Württembergische Wertpapierbörse / free trade

Plus de actualités: W.O.M. World of Medicine AG
Plus de actualités: W.O.M. World of Medicine AG