MEDISANA continues strong revenue growth and achieves the result targeted through expansion abroad
MEDISANA continues strong revenue growth and achieves the result targeted through expansion abroad* Revenue gains of 47% to EUR 21.2 million
* Positive outlook for the second half-year
* Target for 2010: revenue growth from EUR 36.6 million to over EUR 50 million.
Hilden, August 31, 2010 – MEDISANA AG (Sec. No.: 549254) generated revenue of EUR 21.2 million in the first half-year 2010 with a 47% growth rate and has thus continued its record performance. In addition to its own successful sales drive, the first-time consolidation of the new foreign subsidiaries, Gimelli Laboratories Inc. and Royal Appliance España S.L., also contributed to the further strengthening of the company’s competitive position. The positive trend in other European countries continued with revenue of EUR 7.4 million (previous year: EUR 6.2 million), while revenue of EUR 3.4 million (previous year: EUR 0.8 million) was generated outside of Europe. In Germany, the revenue of the Hilden-based home health care specialist rose from EUR 7.5 million in the previous year to EUR 10.4 million.
With sustained strong order intake, the rapid integration of the new foreign subsidiaries will have a significantly greater impact over the coming months. Even so, MEDISANA is set to achieve revenue of around EUR 30 million in the current half-year and annual revenue of over EUR 50 million. The Management Board also anticipates strong operating earnings (EBIT) for the period July to December 2010. In the first half-year, the consolidation of the subsidiaries in Hong Kong/China and Spain as well as various special factors had a noticeable impact on the profit and loss statement, resulting in EBIT of EUR -0.7 million (previous year: EUR 0.1 million). With a slightly increased balance sheet total of EUR 39.8 million, the equity ratio stood at 34% as at June 30, 2010, with MEDISANA’s balance-sheet structures remaining in good health.
The major changes as part of internationalization have primarily resulted in an increase in headcount. The MESDISANA group employed 69 staff as at June 30, 2009, whereas this figure rose sharply to 596 by mid-2010. According to the Management Board, there may even be a further increase shortly as additional personnel are required for new orders as part of the ramp-up of in-house production at Gimelli. In-house production is one of MEDISANA’s stated objectives to achieve a positive impact on earnings performance by significantly increasing value creation.
In the light of sustained strong order intake and highly promising product launches at the start of the IFA trade fair on September 3, the Management Board anticipates an improved result for the 2010 business year, with revenue exceeding EUR 50 million, and foresees further growth in 2011.
*Forthcoming dates *
IFA (trade fair), Berlin September 3-8, 2010
Analysts and investors conference, Hamburg September 23, 2010
Report on 3rd quarter 2010 November 29, 2010
Itterpark 7-9, 40724 Hilden
Tel.: +49 (0) 2103-200 7-60
Fax: +49 (0) 2103-200 7-10
The full half-year financial report as at June 30, 2010 can be found on the company’s website under Investor Relations/Financial Reports.
Kapstadtring 10, 22297 Hamburg
Tel.: +49 (0) 40 6378 5410
Fax.: +49 (0) 40 6378 5423
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