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23/03/2017
Eckert & Ziegler 2016 annual financial statements

Eckert & Ziegler Strahlen- und Medizintechnik AG (ISIN DE0005659700), a Berlin-based company specializing in isotope technology for medical, scientific and industrial applications, reported sales of € 138.0 million (prior year: € 140.0 million) in fiscal year 2016. The slight decline in business volume was largely due to the sale of unprofitable segments in December 2015. With sales remaining stable, the Group's material costs fell by 6%, or € 3.9 million. Selling expenses declined by 11%, or € 2.9 million, to € 22.6 million.

Despite the much lower cost base, consolidated profit after taxes and minority interests fell by 11% from € 10.7 million to € 9.5 million. Prior-year earnings were boosted by extraordinary income from the disposal of a subsidiary. Excluding this effect, earnings per share in 2016 only came to the forecast € 1.81 per share. Discontinued operations are not included in the annual financial statements, which is why recorded sales only stand at € 137.9 million. Excluding continued and discontinued operations, earnings per share actually stood at € 1.97 per share.

Isotope Products, the largest segment, saw its sales decline slightly by € 1.3 million to € 76.2 million. Sales in the energy sector in particular failed to match expectations on account of the low oil price.

Sales in the Radiation Therapy segment declined by € 6.2 million, or 20.0%, to € 24.9 million due to the disposal of the U.S. seed business. Another reason for this development was the decline in afterloader business. Due to the poor economic situation in target markets in South America and in Russia, sales of SagiNova® fell short of expectations. Implant business was able to be stabilized and actually exceeded expectations.

Sales in the Radiopharma segment increased by € 34.2 million to € 39.8 million. All main product groups contributed to the rise in sales, with the exception of the equipment division. Sales of cyclotron-based radiodiagnostics also rose year on year, as these products were also employed in neurological clinical trials to diagnose Alzheimer’s disease. This more than compensated for the slight decrease in sales of standard FDG products. Prices of standard FDG products stabilized at a low level in fiscal year 2016.

Cash inflows from operating activities increased by € 3.6 million to € 19.8 million. Capital outflows from investing activities in 2016 stood at € 5.5 million. Besides investments in new plants and machinery, which rose by € 1.5 million year on year, capital outflows from investing activities in 2016 include cash payments for acquisitions and the acquisition of interests totaling € 0.5 million. Capital outflows from financing activities increased year on year by € 1.1 million. Net liquidity, in other words the difference between liabilities and cash-in-hand, rose by € 9.0 million to € 24.9 million.

As of the reporting date, cash or cash equivalents increased by € 5.1 million to € 36.6 million. The equity ratio improved from 53.2% to 55.2%.

Sales are expected to rise in fiscal year 2017 to roughly € 150 million, while EBIT is expected to stand at approximately € 16 million. This should result in consolidated profit of some € 10.6 million, or € 2.00 per share. The forecasts are based on a USD/EUR exchange rate of no more than 1.15.

The majority shareholder of Eckert & Ziegler AG, Eckert Wagniskapital und Frühphasenfinanzierung GmbH, is to propose to the Annual General Meeting on 31 May 2017 the appointment of former Executive Board member Dr. Edgar Löffler to the Supervisory Board.

The complete financial statements can be viewed here:
http://www.ezag.com/fileadmin/user_upload/ezag/investors-financial-reports/englisch/euzj16e.pdf


About Eckert & Ziegler.
Eckert & Ziegler Strahlen- und Medizintechnik AG (ISIN DE0005659700), with approximately 700 employees, is one the world’s largest providers of isotope technology for radiation therapy and nuclear medicine.
Contributing to saving lives.

For further information or questions, please contact:
Eckert & Ziegler AG, Karolin Riehle, Investor Relations Robert-Rössle-Str. 10, 13125 Berlin, Germany
Tel.: +49 (0) 30 / 94 10 84-138, karolin.riehle@ezag.de, www.ezag.com

source: Eckert & Ziegler AG

www.ezag.com

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