Corporate News: Preliminary figures 2014: MeVis forecast fully met / Guidance for 2015

Dividend for 2014 still pending

  • Revenues increased slightly by 2 % year on year to € 13.1 m
  • EBIT decreased by € 0.5 m to € 3.9 m
  • Liquidity increased by € 4.0 m to € 17.5 m
  • Dividend for  2014 depending on future shareholder structure
  • Guidance for 2015:
    • Revenues between € 13.0 m and € 13.5 m
    • EBIT between € 2.0 m and € 2.5 m
    • At the end of 2015 liquidity increases to € 20 m and € 21 m from operating activities - before potential liquidity outflows outside the ordinary course of business (possible dividend / to majority shareholder / innovations)  

Bremen, February 20, 2015 - MeVis Medical Solutions AG [ISIN: DE000A0LBFE4], a leading provider of medical imaging software, today announced its preliminary figures for fiscal year 2014 and its guidance for 2015.

Revenues generated in 2014 amounted to € 13.1 m up 2 % compared to the previous year's revenues of € 12.8 m. The revenues from services were significantly increased from € 0.6 m to € 1.0 m, maintenance revenues amounted to € 5.6 m as in the previous year, and the licensing business declined marginally from € 6.6 m to € 6.5 m.

The increase in revenues resulted entirely from the Digital Mammography segment, where revenues rose from € 9.4 m to € 9.8 m, while revenues in the Other Diagnostics segment declined marginally from € 3.4 m to € 3.3 m.

Operating costs increased as planned in 2014; thus staff costs increased by € 0.3 m from € 6.7 m to € 7.0 m, and other operating expenses increased by € 0.3 m from € 1.7 m to € 2.0 m.

In 2014 the capitalization of development costs was further reduced from € 1.4 m to € 1.2 m. In the beginning of the fourth quarter the capitalization of development costs was discontinued in line with the delivery of a software release to Hologic.

Depreciation remained unchanged in 2014 at € 1.7 m.

For 2014 this results in an EBIT (earnings before interest and taxes) of € 3.9 m, which is € 0.5 m lower than the previous year, corresponding to a still attractive EBIT margin of 30 % (previous year: 34 %).

Cash and cash equivalents could be again significantly increased in 2014 and amounted to € 17.5 m at year-end (compared to € 13.5 m as at Dezember 31, 2013).

"We are very pleased with again very positive financial indicators in the past year." said Marcus Kirchhoff, CEO of MeVis Medical Solutions AG. "On February 5, 2015 with the publication of the specific parameters for the reimbursement of lung screening in the United States by CMS (Centers for Medicare & Medicaid Services) a further important milestone has been reached, which will allow the widespread implementation of the lung screening program over the next years."

"For 2015, we expect revenues between € 13.0 and € 13.5 m. We do anticipate a significant drop in EBIT to € 2.0 m to € 2.5 m. In addition to a slight increase in operating costs this is primarily due to the termination of capitalization of development costs and a slight increase in depreciation. With respect to liquidity, we expect - before a possible dividend payment, which will be decided on in the next Annual General Meeting - an increase to € 20 m and € 21 m at year-end 2015, not including potential cash outflows to a new major shareholder or increased payments for innovations in a stand-alone scenario." added Dr. Robert Hannemann, CFO of MeVis Medical Solutions AG. "In the medium and long term, we continue to expect a significant decline in sales with Hologic."

The final financial statement and the management report will be published on April 23, 2015. 

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