W.O.M. WORLD OF MEDICINE AG
W.O.M. World of Medicine english
Annual figures for 2001, Forecast for 2002, two FDA Approvals received
Ad-hoc-announcement transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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(Berlin, March 25, 2002) Annual figures for 2001: 29 % increase in sales
revenues to EURO 30.4 million, EBIT realized EURO 0.6 million, EBITDA EURO 2.5
million/ Forecast for 2002: significant rise in sales revenues to EURO 40
million, rise in EBIT to EURO 3 million anticipated/ First two FDA approvals
for VisionWORLD products/
Change 2001 2000*
Sales revenues (EURO million) +29 % 30.4 23.6
EBITDA (EURO million) -7 % 2.5 2.7
EBIT (EURO million) -65 % 0.6 1.7
Net profit for the year (EURO million) -33 % 0.2 0.3
Earnings per share (EURO) -50 % 0.02 0.04
Liquidity (EURO million) +718 % 9.0 1.1
Revenues Flow&FluidWORLD(EURO million) +31 % 22.9 17.5
Revenues VisionWORLD (EURO million) +0 % 4.3 4.3
Revenues LaserWORLD (EURO million) +78 % 3.2 1.8
EBIT Flow&FluidWORLD (EURO million) +48 % 3.7 2.5
EBIT VisionWORLD (EURO million) -800 % -0.9 -0.1
EBIT LaserWORLD (EURO million) -214 % -2.2 -0.7
*pro-forma- figures
As already announced in the ad-hoc notification on December 6, 2001, profits
were reduced for the year by costs associated with developing sales in Asia and
for investments in sales and marketing of the U100 laser in the United States.
Costs associated with the integration of WORLD OF MEDICINE Lemke GmbH were also
a factor. The effects of these factors will continue in the current financial
year. In view of the stricter financial assessment criteria for demonstration
devices, the last anticipated EBIT of EURO 1 million was reduced by EURO 0.4
million. This measure will, however, have no negative effects on profit
estimates for the year 2002. A further growth of sales to approx. EURO 40
million is expected for 2002, as well as a significant improvement in the EBIT
margin. In addition, the marketing of existing products in a difficult economic
environment, in particular the major target market of the United States,
requires higher investment. The EBIT forecast will therefore be adjusted to
approx. EURO 3 million for 2002. The company also announces the granting of FDA
approvals for two Vision World products.
The Board of Management
end of ad-hoc-announcement (c)DGAP 25.03.2002
Issuer’s information/explanatory remarks concerning this ad-hoc-announcement:
Explanatory text:
In the pro-forma comparative figures for 2000, sales revenues recorded by WORLD
OF MEDICINE Lemke are treated “as if” the company had been part of the WORLD OF
MEDICINE group for the entire financial year. In the actual figures, WORLD OF
MEDICINE Lemke results are shown only for the period after November 2000, the
time the majority share was held. In comparison to the actual figures, the
increase in sales revenues measured 55 %, a rise from EURO 19.6 million to EURO
30.4 million.
Development of the business units
The segment Flow&FluidWORLD developed much better over the past year than
expected, showing a stable high profit margin of around 16 % and an EBIT of EURO
3.7 million. This positive trend is due to rises in demand, particularly in the
United States. The positive development in the Flow&FluidWORLD compensated in
part for time lags in sales revenues in the other business areas. The strong
position in the core business is secured by long-term contracts with major
customers.
After delays in introducing the innovative U100 laser to the market, the growth
segment LaserWORLD (laser for treatment of stones and laser beam sources for
medicine and industry) showed a marked improvement towards the end of the year.
Sales agreements and the FDA approval were important steps in making stone
treatment with the patented “FREDDY laser” available throughout the world. This
secured a rise in sales of 78 %. Due to advance payments for the worldwide
market introduction of the laser, the EBIT showed a negative figure of EURO -2,2
million.
The division of VisionWORLD purchased from Lemke Medical TV GmbH at the end of
2000 was encumbered by the necessary integration measures. These included costs
for converting the new complete device towers to a standard design,
rationalization of the dealer network and delays in the planned FDA approvals
for products. These advance expenses and the resulting temporary drops in sales
revenues in the current financial year led to a lower than expected negative
EBIT of EURO -0.9 million for this division.
Outlook
The target sales figure for 2002 of EURO 40 million is secured to a large extent
by the booked orders and agreements for minimum purchase quantities for 2002
totaling EURO 17 million.
WORLD OF MEDICINE anticipates a significant increase of its EBIT from EURO 0.6
to approx. EURO 3 million. This increase will be due above all to significantly
improved results being reached through rising sales in the laser segment.
Because a continued high margin in the two digit range can be anticipated for
Flow&FluidWORLD (EBIT EURO 3.7 million in 2001), the company will realize a
significant increase in profit due to improved revenues in the laser sector
alone. Significantly better performance for VisionWORLD is expected in 2002 due
to the new FDA approvals and related sales opportunities in the United States.
The first successes have already been recorded: FDA approval has now been
obtained for a 1-chip- and a 3-chip camera.
Further information:
W.O.M. WORLD OF MEDICINE AG, Stefanie Gehrke (IR/PR), e-mail:
stefanie.gehrke@womcorp.com,
Phone: ++49 -(0) 30 – 399 81 566, Fax: ++49 -(0) 30 – 399 81 605,
Internet: http://www.world-of-medicine.com
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WKN: 663739; ISIN: DE0006637390; Index:
Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf,
Hamburg, Hannover, München, Stuttgart
250811 Mär 02
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