W.O.M. WORLD OF MEDICINE AG
W.O.M. World of Medicine english
In a difficult market environment: minor revenue increases but negative earnings
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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In a difficult market environment: minor revenue increases but negative earnings
Reduced demand leads to revision of annual objectives for 2002/Cost-reduction
program: focus on optimal use of production plant capacity in Ludwigsstadt/24th
FDA approval granted/ HJ02/HJ01/Change
Revenue (Euro 000) 15,721/14,646/7 % EBITDA (Euro 000) 410/1.762/-77 %
EBIT (Euro 000) -765/1.041/ – Consolidated net income (Euro 000) -355/230/-
Net earnings per share (Euro) -0,04/0,03/ –
Revenue Flow&FluidWORLD(Euro 000)11.497/11.137/3 %
Revenue VisionWORLD (Euro 000) 1.932/2.170/-11 %
Revenue LaserWORLD (Euro 000)2.292/1.339/71 %
EBIT Flow&FluidWORLD(Euro 000)379/1.931/-80 %
EBIT VisionWORLD (Euro 000) -655/-238/- EBIT LaserWORLD (Euro 000) -489/-652/-
WORLD OF MEDICINE has been able to increase sales revenue moderately by 7 %, in
Asia even by 35 %, although manufacturers of electronic medical equipment are
reporting a decline in orders, as the branch association reports. Earnings in
the second quarter were strained by the decline in orders in Europe and the US,
higher sales costs, the postponement of sales revenue from Flow&FluidWORLD due
to the expected market launch of the new generation of pumps as well as by the
losses from VisionWORLD. The operating result (EBIT) includes currency
devaluation of TEuro 420 from accounts receivable in US dollars which are
covered, however, by currency covering transactions. The board of directors has
instituted a cost-reduction program which will save at least TEuro 500 per
year. In order to make optimal use of the new production capacity at the head
office, the production of light sources and monitors will be moved from Munich
to Ludwigsstadt. Because of weak development in the second quarter and the
uncertain economic situation, sales planning for the current business year was
scaled back. The board is now assuming an increase in sales revenue to
approximately Euro 36 million, down from the original Euro 40 million.
Expectations for earnings before interest and taxes (EBIT) were revised
accordingly, from Euro 3 million to Euro 1.5 million. Additionally, the
company announces the granting of FDA approvals for the first VisionWORLD
monitor. A pdf-version of the Half-Year Report may be found at www.world-of-
medicine.com. The Managing Board
Further Information: Stefanie Gehrke (IR/PR), Phone: +49 (0)30-399 81 566
end of ad-hoc-announcement (c)DGAP 14.08.2002
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WKN: 663739; ISIN: DE0006637390; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München, Stuttgart
140800 Aug 02
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