- MeVis Medical Solutions
- Investor Relations
- Investor News
- MeVis Investor News 2/2008
Extracts from the research report:
LBBW Analyst Michael Busse: "Returns in excess of 50% thanks to high product scalability ...
... In its core business, namely breast diagnosis software solutions, MeVis still earns operating margins in excess of 50%. The investments in connection with the extension of the diagnosis applications to lung, prostate, etc. should pay off given that the software products are highly scalable. We expect the company to launch several new solutions as early as 2009, which should boost sales and earnings." [Research report, page 2]
"... We therefore rate the stock a Buy and our price target is € 49. ..."
| Figures in T € (acc. to IFRS) | Q1/008 | Q1/2007 | Changes in % | H1/2008 | H1/2007 | Changes in % |
| Revenues | 2,429 | 1,804 | 35% | 5,473 | 4,169 | 31% |
| EBIT | 311 | 652 | - 52% | 1,006 | 1,751 | - 43% |
| EBIT-margin | 13% | 36% | n.a. | 18% | 42% | n.a. |
| Net financial results | 374 | 15 | 2,393% | 505 | - 31 | 1,729% |
| EBT | 685 | 667 | 3% | 1,511 | 1,720 | - 12% |
| Consolidated net profit | 394 | 211 | 87% | 919 | 892 | 3% |
| Earnings per share in € | 0.37 | 0.39 | - 5% | 0.67 | 1.65 | - 59% |
31.03.2008 | 31.12.2007 | Changes in % | 30.06.2008 | 31.12.2007 | Changes in % | |
| Equity | 30,685 | 30,769 | 0% | 30,095 | 30,769 | - 2% |
| Intangible assets | 1,810 | 1,388 | 30% | 7,391 | 1,388 | 433% |
| Deferred taxes on the asset side | 936 | 1,079 | - 13% | 749 | 1,079 | - 31% |
| Liabilities | 4,409 | 4,806 | - 8% | 6,751 | 4,806 | 41% |
| Balance sheet total | 35,274 | 35,575 | - 1% | 36,847 | 35,575 | 4% |
| Equity in % | 88% | 87% | n.a. | 82% | 87% | n.a. |
| Cash and cash equivalents | 25,523 | 28,471 | - 10% | 22,605 | 28,471 | - 21% |
| Employees | 139 | 113 | 23% | 169 | 113 | 50% |
Consolidated EBIT came to EUR 1 million in the first half of 2008 (year-ago period: EUR 1.8 million), translating into an EBIT margin of 18 percent (year-ago period: 42 percent), while the cash flow from operating activities stood at EUR 0.7 million (year-ago period: EUR 0.9 million).
“We are pleased that we have been able to extend our development activities as planned and continue growing profitably despite the heavy expenditure,” says Dr. Olaf Sieker, CFO at MeVis Medical Solutions.
“Spending on new products is still having a significant impact on our consolidated EBIT margin at the moment. However, moving forward, we expect these products to also generate EBIT margins of 40 to 50 percent in the medium term in line with our current products.”
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MeVis Medical Solutions AG
Dr. Kai Holtmann
Investor Relations Manager
| Phone: | +49 421 22495 - 63 |
| Fax: | +49 421 22495 - 11 |
| e-mail: | ir mevis.de |
The information provided in this newsletter contain forward-looking statements – that is, statements related to future, not past, events. These statements may be identified by words such as "expects," "looks forward to," "anticipates," "intends," "plans," "believes," "seeks," "estimates," "will," "project" or words of similar meaning. Such statements are based on our current expectations and certain assumptions, and are, therefore, subject to certain risks and uncertainties. A variety of factors, many of which are beyond MeVis’ control, affect our operations, performance, business strategy and results and could cause the actual results, performance or achievements of MeVis consolidated group to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. For us, particular uncertainties arise, among others, from changes in business conditions (including margin developments in major business areas); the challenges of integrating acquisitions and implementing joint ventures and other significant portfolio measures; changes in currency exchange rates and interest rates; introduction of competing products or technologies by other companies; lack of acceptance of new products or services by OEM-customers targeted by MeVis; changes in business strategy; the potential impact of such matters on our financial statements; as well as various other factors. More detailed information about certain of these factors is contained in our annual report and interim reports, which are available on the MeVis website, www.mevis.de. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in the relevant forward-looking statement as expected, anticipated, intended, planned, believed, sought, estimated or projected. MeVis does not intend or assume any obligation to update or revise these forward-looking statements in light of developments which differ from those anticipated.