- Revenues increased by € 0.3 million to € 18.1 million
- EBIT of € 8.0 million, 44 % margin
- Earnings after taxes increased by € 0.5 million to € 8.1 million
- Forecast for fiscal year 2019/2020
- Significant decline in revenues to € 15.5 million to € 16.0 million
- EBIT decline to € 4.5 million to € 5.0 million
Bremen, January 20, 2020 - MeVis Medical Solutions AG [ISIN: DE000A0LBFE4], a leading provider of medical imaging software, announces the results for fiscal year 2018/2019 (reporting period October 1, 2018 to September 30, 2019).
Revenues in the past fiscal year 2018/2019 amounted to € 18.1 million (compared to € 17.8 million in fiscal year 2017/2018). 29 % (previous year: 29 %) of the sales revenues are attributable to license sales of € 5.3 million (previous year: € 5.2 million), 38 % (previous year: 40 %) to sales of maintenance contracts (software service contracts) of € 6.9 million (previous year: € 7.1 million) and 33 % to other sales € 5.9 million (previous year € 5.5 million and 31 %). The improvement in sales compared to the previous year, including license sales, is mainly due to the significant increase in the average USD exchange rate, as the majority of invoices are invoiced in USD.
The results continue to be very satisfactory. Thus, an EBIT (earnings before interest and taxes) of € 8.0 million was generated in 2018/2019, compared to € 7.6 million in 2017/2018. The EBIT margin of 44 % was slightly higher than the previous year's figure of 43 %.
MeVis' net interest result of € 0.2 million at the end of the fiscal year was only slightly up on the previous year and primarily comprises interest income from fixed-interest loans.
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 tax of € 8.1 million for the 2018/2019 fiscal year, compared to € 7.6 million in 2017/2018. The profit of € 8,071 thousand will be transferred to Varex Imaging Deutschland AG according to the control and profit transfer agreement.
"Fiscal year 2018/2019 was another very successful year for us," said Marcus Kirchhoff, CEO of MeVis Medical Solutions AG, "even though the medium and long-term prospects for the future are still considerably clouded by the change in cooperation initiated by Hologic and the expected decline in revenues. For fiscal year 2019/2020, we therefore expect a significant decline in revenues to between € 15.5 million and € 16.0 million. In addition to the expected decline in revenues with the customer Hologic, declining revenues are expected in the area of development services. We expect earnings before interest and taxes (EBIT) to decline to between € 4.5 million and € 5.0 million. The forecasted decline in sales revenues, an expected break-even result from exchange rate differences and an anticipated decline in income from investments are the main drivers of the EBIT decline."
The half-year financial report for the 2019/2020 fiscal year will be published on 27 May 2020.