- Sales in the second quarter increased by 15 % to € 3.7 m due to the strong US dollar (prev. year: € 3.2 m)
- Earnings before interest and taxes (EBIT) decreased to € 1.6 m (prev. year € 1.8 m), EBIT margin of 23 %
- Net profit declined to € 1.3 m (prev. year € 1.7 m)
- Liquidity of € 21.6 m as at June 30, 2015 (Dec. 31, 2014: € 17.5 m)
Bremen, August 11, 2015 – MeVis Medical Solutions AG [ISIN: DE000A0LBFE4], a leading provider of medical imaging software, today announced its results for the first half of 2015.
Sales in the second quarter of 2015 came to € 3,730 k, 15 % higher than in the second quarter of 2014 (€ 3,234 k) and surpassing the first quarter of 2015 (€ 3,408 k). At € 7,138 k, sales in the first half of the year increased considerably year on year (prev. year: € 6,062 k). The growth in sales is entirely attributable to the US dollar exchange rate, which contributed € 1,145 k to sales growth in the half year. Revenues generated from licensing business increased by 8 % to T€ 3,326, revenues from maintenance business increased by 11 % to T€ 3,080, accounting for 43 % of total sales. Sales in the Digital Mammography segment increased by 19 % to € 5,637 k (prev. year: € 4,738 k) and sales in the Other Diagnostics segment increased by 13 % to € 1,501 k (prev. year: € 1,324 k).
Staff costs increased in the second quarter according to plan by 2 % to € 1,798 k (prev. year: € 1,755 k), resulting in an identical increase of 2 % (from € 3,567 k to € 3,635 k) for the first half of the year. Other operating expenses fell in the second quarter by 19 % to € 453 k (prev. year: € 559 k), but increased by 3 % cumulative in the first half of 2015.
The capitalization of development expenses was ceased in the fourth quarter of 2014 (prev. year: € 841 k).
Due to increased sales and despite the cessation of the capitalization of development expenses, MeVis sees a slight increase of the EBITDA (earnings before interest, taxes, depreciation and amortization) by 2 %, from € 2,605 k to € 2,667 k.
After depreciation and amortization of € 1,040 k (up 27 % year on year), this results in an EBIT (earnings before interest and taxes) of € 1,627 k (with 9 % well below the previous year’s figure of € 1,789), corresponding to an EBIT margin of 23 % (prev. year: 30 %).
The net financial result improved by € 271 k to € 428 k year on year. Mainly the development of the US$ exchange rate and the improvement of the MeVis BreastCare have contributed to this. Income tax expenses increased by € 568 k to € 787 k, which results mostly from deferred taxes.
Net profit fell by € 459 k to € 1,268 k, which is equivalent to undiluted earnings per share of € 0.72 (prev. year: 1.00).
Cash and cash equivalents increased by € 4,052 k to € 21,563 k as of June 30, 2015 compared to the end of 2014. This includes € 1,707 k from the sale of treasury shares to the VMS Deutschland Holdings GmbH in April 2015.