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Korian Deutschland AG

EANS-Adhoc: Curanum AG
Results of Q1/ 2009

  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.
quarterly report
15.05.2009
Ad hoc announcement
CURANUM presents Q1 report: occupancy stable in the first quarter
Occupancy across the Group was stable in the  first  quarter  of  
2009.  Revenue amounted to EUR63.1 million in the quarter  just  
elapsed  (previous  year: EUR63.7 million). The key factors behind 
this  trend  were,  firstly,  an  approximately 1.5% higher occupancy
in the first quarter of 2008, and, secondly,  around EUR0.7 million 
of absent revenue compared with the 2008 leap year due to the fact  
that there was one day less in February 2009.
The personnel expense rose to EUR32.1 million (previous year: EUR31.5
million), and the rental expense increased to EUR13.9 million 
(previous  year:  EUR13.8 million). Earnings before interest, tax, 
depreciation and amortization (EBITDA) fell  from EUR7.9 million in 
the first quarter of 2008 to EUR6.4 million in the  first quarter of 
2009. The EBITDA margin fell from 12.3% to  10.1%  in  the  reporting
period just elapsed.
EBIT amounted to EUR4.0 million in the first quarter of 2009 
(previous year: EUR5.5 million), and earnings after tax reduced to 
EUR1.1 million  (previous  year: EUR2.2 million). Earnings per share 
fell accordingly from EUR0.07 to EUR0.04 per  share  in the first 
quarter of 2009.
Gross cash flow from operating activities  (before  changes  in  
provisions  and working capital) fell only  slightly,  and  amounted 
to  EUR4.2  million  in the reporting period, compared with gross 
cash flow of EUR4.7 million in the previous year. Taking changes in 
provisions and working capital into account,  cash  flow from 
operating activities totaled EUR2.6 million (previous year: EUR4.1 
million).
Equity increased slightly from EUR66.6 million as of December 31,  
2008  to EUR67.0 million as of the end of the first quarter  of  
2009.  This  corresponds  to  an equity ratio of 27.8%.
As far as the full 2009  financial  year  is  concerned  our  budget 
(excluding acquisitions) envisages revenue of EUR257  million  to  
EUR259  million,  EBITDA  of EUR27.5 million to EUR29.0 million, and 
net profit of between EUR6.5 million and  EUR8.5 million.
Munich, May 15, 2009
The Management Board
end of announcement                               euro adhoc

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: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
München / regulated dealing

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