DGAP-News

MeVis Medical Solutions AG: MeVis' profitability further increased in the first quarter

DGAP-News: MeVis Medical Solutions AG / Key word(s): Quarter
Results/Interim Report
MeVis Medical Solutions AG: MeVis' profitability further increased in
the first quarter

16.05.2013 / 07:30

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MeVis' profitability further increased in the first quarter

Further improvements in earnings with slightly declining sales

- Consolidated sales declined in the first three months as expected, by
9% to EUR 3.3 million (prev. year: EUR 3.6 million)

- Maintenance business contribution further increased to 47 % (prev.
year: 42 %)

- Earnings before interest and taxes (EBIT) up to EUR 0.8 million (prev.
year: EUR 0.6 million)

- Consolidated net profit increased significantly to EUR 0.8 million
(prev. year: EUR 0.1 million)

- Liquidity stable at EUR 8.6 million (December 31, 2012: EUR 8.7
million)

Bremen, May 16, 2013 - Today, MeVis Medical Solutions AG [ISIN:
DE000A0LBFE4], a leading software provider for the medical imaging market,
announced its results for the first quarter of 2013.

As expected sales in the first quarter of 2013 came to EUR 3,318 k, down 9
% on the first quarter of 2012 (EUR 3,637 k). While license sales declined
by 21 % to EUR 1,589 k (prev. year: EUR 2,011 k), due in part to a package
of LungCAD licenses in the Other Diagnostics segment in the first quarter
of 2012, maintenance and service revenues again rose by 4 % to EUR 1,568 k
(prev. year: EUR 1,513 k).

Sales in the Digital Mammography segment went up slightly by 1 % to EUR
2,673 k (prev. year: EUR 2,650 k). In contrast, sales in the Other
Diagnostics segment declined by 35 % to EUR 645 k (prev. year: EUR 987 k).

Capitalized development expenses were lowered considerably by 41 % year on
year to EUR 410 k (prev. year: EUR 691 k).

Operating costs were again significantly reduced in the first quarter of
2013. As personnel expenses amounted to EUR 1,949 k, thus being 15 % down
on the prior-year quarter. Other operating expenses also decreased to EUR
484 k, corresponding to a 20 % reduction year on year.

After depreciation and amortization of EUR 495 k (44 % down year on year),
and due to the ongoing cost-cutting measures, EBIT (earnings before
interest and taxes) could be improved considerably to EUR 806 k (up a
significant 30 % on the prior-year figure of EUR 622 k). The EBIT margin
increased to 24 % (prev. year: 17 %).

An improvement in the financial result from EUR -90 k in the previous year
to EUR 102 k in the first quarter of 2013, results in pre-tax earnings in
the reporting period of EUR 908 k (prev. year: EUR 532 k). Taking into