euro adhoc: Curanum AG / quarterly or semiannual financial statement / CURANUM raises profit after tax by around 60 %

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Disclosure announcement transmitted by euro adhoc.
The issuer is responsible for the content of this announcement.
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11.05.2006

In the first quarter of 2006, the Munich-based operator of care and
nursing facilities raised sales revenues by 10 % to EUR 50.9 million
(1Q05: EUR 46.2 million) which breaks down as follows: EUR 47.2
million from nursing care services (92.6 %), EUR 2.5 million from
letting sheltered apartments and outpatient services (5 %) and EUR
1.2 million from other sales revenues (2.4 %). Earnings before
interest, tax, depreciation and amortization (EBITDA) climbed 25.4 %
to EUR 7.4 million (1Q05: EUR 5.9 million), bringing the EBITDA
margin to 14.5%, up from 12.8 %, in the first quarter of 2006.
Earnings before interest and tax (EBIT) rose 45.0 % to EUR 5.8
million (1Q05: EUR 4.0 million), and the EBIT margin stood at 11.4 %
(1Q05: EUR 8.7 %). Owing to higher bank and finance lease
liabilities, the financial result fell from EUR -1.3 million to EUR
-1.7. Earnings before tax (EBT) rose to EUR 4.1 million, up from EUR
2.7 million. Profit after tax developed well, climbing from EUR 1.6
million in the first quarter of 2005 to EUR 2.6 million in the period
under review. Earnings per share (EPS) increased from EUR 0.06 to EUR
0.09.

In the first three months of the current financial year, the
operating cash flow advanced to EUR 4.2 million (1Q05: EUR 2.0
million), and the cash flow per share (CFS) doubled, from EUR 0.07 to
EUR 0.14.

All in all, we are very satisfied with the process of integrating the
new facilities in North Rhine Westphalia, although occupancy is
slightly below our expectations. The performance figures for the
CURANUM Group are in line with our planning. We therefore expect to
achieve our targets for the year as a whole.

Munich, 11 May 2006

The Management Board

In EUR million 1Q06 1Q05 y/y 2005
Sales revenues 50.9 46.2 10.2% 188.5
Personnel expenses 25.8 23.4 10.3% 95.5
Rental expenses 10.2 8.2 24.4% 32.7
EBITDA 7.4 5.9 25.4% 25.8
as % of sales 14.5% 12.8% 13.7%
Depreciation & amortization 1.6 1.9 -15.8% 6.1
EBIT 5.8 4.0 45.0% 19.6
as % of sales 11.4% 8.7% 10.4%
Financial result -1.7 -1.3 30.8% -7.4
EBT 4.1 2.7 51.9% 12.2
Net profit 2.6 1.6 62.5% 7.3
EPS (EUR) 0.09 0.06 50.0% 0.25
Cash flow 4.2 2.0 110.0% 12.7
CPS (EUR) 0.14 0.07 100.0% 0.43
Cash & cash equivalents 7.2 2.2 227.3% 2.2
Equity 39.7 39.5 0.5% 35.9
as % of total assets 22.9% 21.1% 22.4%
Total assets 173.5 187.5 -7.5% 160.5
Employees 4,756 4,054 17.3% 4,150
Facilities 52 45 15.6% 45
Care places 6,520 5,641 15.6% 5,641
Sheltered apartments 693 686 1.0% 686

end of announcement euro adhoc 11.05.2006 08:21:28
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ots Originaltext: Curanum AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Bernd Rothe
Tel.: +49 (0)89 242065-60
E-Mail: bernd.rothe@curanum.de

Branche: Healthcare Providers
ISIN: DE0005240709
WKN: 524070
Index: CDAX, Classic All Share, Prime All Share, SDAX
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