EANS-Adhoc: CURANUM AG / Publishing the results of Q2/2010

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ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
adhoc with the aim of a Europe-wide distribution. The issuer is solely
responsible for the content of this announcement.
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quarterly report

11.08.2010

Ad hoc

Stable business progress with rising cash flow; one-off effects
burden results

Second-quarter sales of the CURANUM-Group was up from EUR 64.3
million to EUR 64.9 million. Firstly, this growth reflects
additional sales from the Braunschweig and Wachtendonk
facilities, and additional dementia care staff. Secondly, sales
from existing facilities was below the previous year's levels due
to occupancy levels.

The staff costs rose from EUR 32.7 million to EUR 33.4 million in the
reporting period elapsed. This was mainly due to the new facilities,
and higher expenses for temporary help staff. The rental costs fell
slightly, and amounted to EUR 13.8 million in the second quarter
(previous year: EUR 14.0 million).

In the materials costs area, food expenses rose, not only due
to the new facilities, but also due to the third-party supply of
our facility in Werl, which was necessitated because its canteen
required renovation. This renovation was completed on July 1,
however. An increase in maintenance measures resulted in a further
rise in expenses, which was included in the budget.

We were forced to incur an unplanned one-off effect due to the
Greek crisis, and the shock fall in the euro exchange rate to the
Swiss franc that this precipitated. This was due to an expiring
property loan partly denominated in foreign currency, and which
required servicing as of June 30, 2010. The related provisions
amounted to around EUR 0.75 million in the first half of the year.
The Group does not have any further foreign currency loans, however.

Earnings before interest, tax, depreciation and amortization (EBITDA)
fell from EUR 6.2 million to EUR 5.7 million in the second quarter
of 2010, mainly due to one-off effects. Earnings before interest and
tax (EBIT) fell from EUR 3.8 million in the second quarter 2009
to EUR 3.2 million in the reporting period elapsed, while
depreciation/amortization was almost unchanged.

The net profit for the period declined, however, since the net
financial result, and particularly the tax expense, were also
burdened by a one-off effect. This was due to a ruling arising
from the external audit of past years at Elisa Seniorenstift GmbH,
which resulted in charges to the net result for the period
resulting from a supplementary interest claim for EUR 0.2 million,
and a supplementary tax payment of EUR 0.8 million. We are
nevertheless convinced that we should not have incurred this charge,
and we will exhaust all legal means against the sellers of Elisa
Seniorenstift GmbH.

Earnings after tax fell from EUR 1.1 million to EUR -0.8 million in
the second quarter 2010 due to the above-described developments and
one-off effects.

First-half results reflect one-off effects

Sales rose from EUR 127.4 million to EUR 129.1 million in the first
half of the year. Personnel costs were up by EUR 1.3 million over
the same period to EUR 66.1 million (previous year: EUR 64.8
million). Earnings before interest, tax, depreciation, amortization
and rents (EBITDAR) consequently fell slightly to EUR 39.4
million (previous year: EUR 40.4 million). The rental costs
also declined slightly in the first half of the year, and
amounted to EUR 27.6 million (previous year: EUR 27.8 million).
EBITDA reduced from EUR 12.6 million to EUR 11.8 million, and the
EBITDA margin was 9.1% in the reporting period elapsed. EBIT was
also down, from EUR 7.8 million to EUR 6.9 million, and the net
financial result deteriorated from EUR -4.4 million to EUR -4.7
million due to the above-described one-off effect.

The result in the first half of 2010 fell by the following amounts,
particularly due to one-off effects:

o Third-party suppliers to Werl facilities EUR 0.28 million
o Currency difference on property loans EUR 0.74 million
o Supplementary interest claim due to external audit EUR 0.2 million
o Supplementary tax demand due to external audit EUR 0.8 million

_____________________________________________________________________
__________ Total one-off effects
EUR 2.02 million

Special effects that were not only of a one-off nature also
burdened the result, including start-up costs for the new facility
in Wachtendonk (EUR 0.14 million), and deferred taxes of EUR 0.48
million the increase of which, amongst others, accrued due to the
valuation differences when capitalizing finance leases.

Operating cash flow was EUR 10.6 million in the first half of
2010, EUR 1.9 million above the previous year's level of EUR 8.7
million. This is mainly due to a total EUR 4.1 million working
capital reduction.

The cash position increased by EUR 5.8 million in the first half of
2010, in the previous year the cash position had declined by a
total of EUR 5.1 million.

CURANUM Group occupancy reported very positive trends in June and
July 2010, in contrast to the first five months. Of particular
note are the positive developments at our new facility in
Wachtendonk, as well as the occupancy rise in some regions of North
Rhine Westphalia. We are assuming that we can also step up our
capacity utilization rates in the other federal Länder, and that
our greater marketing and sales measures will exert a positive
effect on utilization this year.

Due to the above-described one-off effects, we will prospectively be
unable to meet the results that we had budgeted to date for the full
2010 year (sales EUR 264.5 million to EUR 266.6 million, EBITDA
EUR 28.5 million to EUR 30.0 million, and net income between EUR
6.5 million and EUR 7.5 million). We are adjusting our targets
accordingly, and now budget for sales of EUR 261.5 million to
EUR 263.5 million, EBITDA of EUR 25.5 million to EUR 27.0 million,
and total net income of EUR 3.5 million to EUR 5.0 million.

Munich, August 11, 2010

The Management Board

Key figures of CURANUM H1/2010 and Q2/2010 IFRS

|in mil. EUR | |Q2/2010 |Q2/2009 |H1/2010 |H1/2009 |
| | | | | | |
|Sales | |64.9 |64.3 |129.1 |127.4 |
|Staff costs | |33.4 |32.7 |66.1 |64.8 |
|EBITDAR | |19.5 |20.2 |39.4 |40.4 |
|Rental costs | |13.8 |14.0 |27.6 |27.8 |
|EBITDA | |5.7 |6.2 |11.8 |12.6 |
|in % of sales | |8.8% |9.6% |9.1% |9.9% |
|Depreciation | |2.5 |2.4 |4.9 |4.8 |
|EBIT | |3.2 |3.8 |6.9 |7.8 |
|in % of sales | |4.9% |5.9% |5.3% |6.1% |
|Financial result | |-2.5 |-2.1 |-4.7 |-4.4 |
|EBT | |0,7 |1,7 |2,2 |3,4 |
|Net profit | |-0,8 |1,1 |0,0 |2,2 |
|EPS (EUR )* | |-0,03 |0,03 |0,00 |0,07 |

|* Number of underlying outstanding shares in H1/2009: 32,311,648 shares |
|* Number of underlying outstanding shares in H1/2010: 32,267,835 shares |
|* Number of underlying outstanding shares in Q2/2009: 32,254,898 shares |
|* Number of underlying outstanding shares in Q2/2010: 32,267,835 | |
|shares | |

end of announcement euro adhoc
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ots Originaltext: CURANUM AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

Bettina Pöschl

Tel. +49(0)89-242065-69

E-Mail: bettina.poeschl@curanum.de

Branche: Healthcare Providers
ISIN: DE0005240709
WKN: 524070
Index: CDAX, Classic All Share, Prime All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
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