Corporate News: MeVis publishes figures for fiscal year 2019/2020 and forecast for 2020/2021

  • Revenues down by € 1.0 million to € 17.1 million
  • EBIT of € 5.8 million, 34% margin
  • Earnings after taxes down by € 2.4 million to € 5.7 million
  • Forecast for fiscal year 2020/2021
    • Significant decline in revenues to € 15.5 million to € 16.0 million
    • EBIT decline to € 4.5 million to € 5.0 million

Bremen, January 28, 2021 - MeVis Medical Solutions AG [ISIN: DE000A0LBFE4], a leading medical imaging software company, today announces its results for the fiscal year 2019/2020, with reporting period October 1, 2019 to September 30, 2020.

Revenues in the past fiscal year 2019/2020 amounted to € 17.1 million (compared to € 18.1 million in fiscal year 2018/2019). Of the sales, 31 % (previous year: 29 %) were attributable to sales from license revenues of € 5.3 million (previous year: € 5.3 million), 36 % (previous year: 38 %) to sales from maintenance contracts (software service contracts) of € 6.2 million (previous year: € 6.9 million) and 33 % to (previous year: 33 %) to other sales of € 5.6 million (previous year: € 5.9 million). The decline in revenue compared with the previous year is mainly attributable to the expected decline in maintenance revenue with the customer Hologic and to lower revenue from development services with the customer Varian Medical Systems.

The results continue to be satisfactory. EBIT (earnings before interest and taxes) of € 5.8 million was generated in 2019/2020, compared with € 8.2 million in 2018/2019. The EBIT margin declined accordingly to 34 % compared with the prior-year figure of 45 %.

As a result of the fiscal unity, only minor income taxes of € 0.1 million were incurred in the past fiscal year, identical to the previous year.

This results in earnings after taxes of € 5.7 million (33% margin) for the financial year 2019/2020, compared to € 8.1 million (45% margin) in 2018/2019. The profit of € 5,704 k will be transferred to Varex Imaging Deutschland AG on the basis of the domination and profit and loss transfer agreement.

"The fiscal year 2019/2020 was a successful year for MeVis from our point of view, despite the global impact of the Corona pandemic. Sales and also margins have developed better than we suspected at the beginning of the year. The pandemic has presented us with unforeseen challenges and the consequences for our future business development are still not fully foreseeable. So far, we see only minor effects on our business," said Marcus Kirchhoff, CEO of MeVis Medical Solutions AG. "For fiscal year 2020/2021, we are now expecting a significant decline in revenues compared to the previous year to between € 15.0 million and € 15.5 million. In addition to the expected decline in sales with the customer Hologic, we must also assume declining sales revenues in the area of development services. Earnings before interest and taxes (EBIT) are expected to decline to between € 3.5 million and € 4.0 million. The forecast decline in sales, with an expected break-even result from exchange rate differences, is the main driver for the EBIT decrease."

The half-year financial report for fiscal 2020/2021 will be published on May 27, 2021.