ECKERT & ZIEGLER BG 
By Eckert & Ziegler BEBIG Half-Year 2011 Results
Seneffe, Belgium, August 2, 2011, Eckert & Ziegler BEBIG (Euronext: EZBG; Reuters: EZBG.BR; Bloomberg: EZBG:BB), a global leader in brachytherapy, announced today its consolidated results for the first half-year ending June 30, 2011.
The Half-Year 2011 report including the management report and condensed consolidated interim financial statements for the 6 months ending June 30, 2011 can be downloaded at:
http://www.bebig.eu/investor_relations/financial_reports/interim_results.html:
http://www.bebig.eu/investor_relations/financial_reports/interim_results.html
It should be mentioned that comparability to the year 2010 is limited as the Russian project contributed significantly to the revenue and earnings in 2010, while no revenue was generated out of the project in 2011.
Sales for the first six months of 2011 reached EUR 13.1 million, compared to EUR 14.9 million for the same period of 2010, showing a decrease of 12%. The main components were income generated by the sales of permanent brachytherapy I-125 radiotherapeutic implants as well as income from temporary brachytherapy equipment, i.e. HDR equipment using Co-60 (Cobalt 60) and Ir-192 (Iridium 192) sources (also called "afterloaders"). The difference in sales was expected by management, it relates to the limited comparability of this first semester 2011 versus 2010.
Earnings before interests and taxes (EBIT) reached EUR 1.5 million for the first semester of 2011 compared to EUR 2.6 million for the same period of 2010, showing a decrease of the EBIT margin by 6%, from 18% to 12%. The magnitude of this decrease was expected by the management, due to the fact that construction projects, like Russia in the past two years, contribute with very strong margins, while no revenue out of construction contracts were recorded this year so far. These kinds of projects are recurring, but will not contribute on a constant basis.
Net profit reached EUR 0.7 million end of June 2011 compared to a net profit of EUR 1.7 million end of June 2010.
Total equity of the group stood at EUR 38.3 million on June 30, 2011 versus EUR 37.6 million in December 31, 2010.
Outlook
As it was anticipated, the management does not expect to reach the sales level of 2010; mainly because revenues generated by the Russian project contributed significantly to the total turnover in 2010, while no revenues from that project are recognized in 2011.
For the full year 2011, taking into account our current order book and seasonal fluctuations, management expects to have revenues from sales of goods to be above the 2010 results even if revenues and profitability for this first half-year 2011 were slightly behind management expectation. The price pressure in the European public health care sector is continuing to affect our niche market for permanent brachytherapy. Although business in developing countries is robust with reliable profitability, the risk for our market in Russia is increasing. The current crisis of the EURO adds risks to our receivables, especially in European countries affected by high public debts. Under these boundary conditions the management expects an EBIT margin for the year end in the magnitude of 13%.
About Eckert & Ziegler BEBIG
Contributing to saving lives!
Eckert & Ziegler BEBIG is a European-based group active in the medical device segment of the health care industry.
Eckert & Ziegler BEBIG's core business is the treatment of cancer using brachytherapy, a special form of radiation therapy.
Eckert & Ziegler BEBIG is a leader in brachytherapy in Europe. The company headquarters are in Belgium, with a production facility in Germany and subsidiaries throughout Europe and in India. In addition, Eckert & Ziegler BEBIG has a worldwide network of distributors and agents to support the international marketing of its product line.
The company's products and equipment are intended for use by oncologists, radiologists, urologists, and medical physicists.
Eckert & Ziegler BEBIG employs more than 150 people. The company has been listed on the Euronext stock exchange since April 1997.
Contact
Paul-Emmanuel Goethals
Investor Relations
Tel.: +32.64.520.808
Email: ir@bebig.eu:
mailto:ir@bebig.eu
Website: www.bebig.eu:
http://www.bebig.eu/
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Eckert & Ziegler BEBIG via Thomson Reuters ONE
