- Sales in the first quarter increased by 21 % to € 3.4 m due to the strong US dollar (previous year: € 2.8 m)
- Earnings before interest and taxes (EBIT) decreased to € 0.5 m (previous year € 0.7 m), EBIT margin of 16 %
- Net profit also declined slightly to € 0.7 m (previous year € 0.8 m)
- Liquidity of € 19.0 m as at March 31, 2015 (Dec. 31, 2014: € 17.5 m)
Bremen, May 21, 2015 - MeVis Medical Solutions AG [ISIN: DE000A0LBFE4], a leading provider of medical imaging software, today announced its results for the first quarter of 2015.
Sales in the first quarter of 2015 came to € 3,408 k, 21 % higher than in the first quarter of 2014 (€ 2,828 k). Revenues generated from licensing business increased by 17 % to T€ 1,561, revenues from maintenance business increased by 9 % and accounted with T€ 1,493 for 44 % of total sales. Sales in the Digital Mammography segment grew by 22 % to € 2,721 k (prev. year: € 2,227 k) and sales in the Other Diagnostics segment grew by 14 % to € 687 k (prev. year: € 601 k).
Operating expenses increased slightly in the first quarter of 2014. Staff costs increased by only 1 % to € 1,837 k (prev. year: € 1,812 k). Other operating expenses rose by 34 % to € 549 k (prev. year: € 411 k) driven by legal and consulting cost.
The capitalization of development expenses was ceased in the fourth quarter of 2014 (Q1 2014: € 428 k).
Due to increased sales and despite higher costs and the cessation of the capitalization of development expenses, we see a slight increase of the EBITDA (earnings before interest, taxes, depreciation and amortization) by 1 %, from € 1,100 k to € 1,107 k.
After depreciation and amortization of € 565 k (up 39 % year on year), EBIT (earnings before interest and taxes) declined considerably by 22 % to € 542 k (prev. year: € 694 k) corresponding to an EBIT margin of 16 % (prev. year: 25 %).
The net financial result improved by € 59 k to € 138 k year on year. Mainly the development of the US$ exchange rate, the continuous improvement of the MeVis BreastCare, and the interest result have contributed to this. Income tax expenses decreased by € 46 k to € 42 k.
Net profit fell by € 47 k to € 683 k, which is equivalent to earnings per share of € 0,37 (prev. year: 0,40).
Cash and cash equivalents increased by € 1.453 k to € 18.964 k as of March 31, 2015 compared to the end of 2014.