DGAP-News

MeVis Medical Solutions AG: MeVis profitable start in 2014

DGAP-News: MeVis Medical Solutions AG / Key word(s): Quarter
Results/Interim Report
MeVis Medical Solutions AG: MeVis profitable start in 2014

19.05.2014 / 07:30

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Still strong profit situation, but decrease in revenues and results as
expected

- Development of a lung screening software solution, market potential
especially in the United States

- From 2014 onwards MBC consolidated at equity, previous year adjusted
for comparison purpose

- Slight decline in sales in the first quarter by 4 % to EUR 2.8 m
(previous year EUR 2.9 m)

- Share of maintenance business still significant at now 49 % (previous
year 51 %)

- Earnings before interest and taxes (EBIT) decreased to EUR 0.7 m
(previous year EUR 0.9 m), but with 25 % still strong EBIT margin

- Net profit for the period also declined slightly to EUR 0.7 m (previous
year EUR 0.8 m)

- Liquidity of EUR 13.1 m as at March 31, 2014 (Dec. 31, 2013: EUR 13.5
m)

Bremen, May 19, 2014 - MeVis Medical Solutions AG [ISIN: DE000A0LBFE4], a
leading provider of medical imaging software, today announced its results
for the first quarter of 2014.

Sales in the first quarter of 2014 came to EUR 2,828 k, down by 4 % to just
below the level of the first quarter of 2013 (EUR 2,948 k). Sales in the
new license business declined slightly by 2 % to EUR 1,337 k, while sales
in the maintenance business were down by 9 % to EUR 1,372 k, accounting for
49 % of total sales. Sales in the Digital Mammography segment decreased by
3 % to EUR 2,227 k (prev. year: EUR 2,285 k) and sales in the Other
Diagnostics segment fell by 9 % to EUR 601 k (prev. year: EUR 663 k).

Operating expenses in the first quarter of 2014 rose primarily due to
higher staff costs, which increased by 11 % to EUR 1,812 k (prev. year: EUR
1,636 k), particularly due to salary increases, conservative provisions and
a change in the personnel structure. Other operating expenses declined
slightly by 9 % to EUR 411 k (prev. year: EUR 449 k).

Capitalized development expenses were almost unchanged at EUR 428 k in the
first quarter of 2014 (prev. year: EUR 410 k).

EBITDA (earnings before interest, taxes, depreciation and amortization) was
down by 16 %, from EUR 1,304 k to EUR 1,100 k year on year due to the
slight reduction in sales and higher costs.

Depreciation and amortization came to EUR 406 k (up 11 % year on year),
resulting in EBIT (earnings before interest and taxes) of EUR 694 k (down a
sharp 26 % on the prior-year figure of EUR 938 k) and still a strong EBIT
margin of 25 % (prev. year: 32 %).