euro adhoc: Curanum AG / Financial Figures/Balance Sheet / CURANUM AG - EBITDA climbs to EUR 8.1 in the first quarter

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3-month report/First Quarter 07

10.05.2007

Revenue in the first quarter of 2007 rose from EUR50.9 million to
EUR56.6 million, representing an increase of 11.2%. The rise reflects
the contribution made by the FAZIT Group, which was acquired in
September 2006, and by the Seniorenresidenz Armbrustergasse in
Vienna, which was consolidated for the first time in November.
First-quarter revenue was in line with our expectations, although
occupancy was approximately one percentage point lower than in the
first quarter of the previous year.

Earnings before interest, tax, depreciation and amortization (EBITDA)
rose from EUR7.4 million to EUR8.1 million, corresponding to an
increase of 9.5%. The EBITDA margin fell slightly as a consequence,
and declined from 14.5% in the first quarter of 2006 to 14.3% in the
first quarter of 2007.

The consolidations performed in the 2006 annual financial statements
as well as the capitalization required by IFRS of customer bases
purchased as part of corporate acquisitions, resulted in an
above-average rate of increase in depreciation and amortization in
the first quarter. These will reduce partially in the course of the
financial year, since the amortization period for the customer bases
is in part very brief, and there are also plans to dispose of real
estate. Amortization and depreciation overall rose from EUR1.6
million in 2006 to EUR2.1 million in the first quarter of 2007, with
the increase arising entirely from the above-described effects.

Growth in earnings before interest and tax (EBIT) was correspondingly
less strong, with an increase from EUR5.8 million to EUR6.0 million.
The EBIT margin fell from 11.4% in the first quarter of 2006 to 10.6%
in the first quarter of 2007. The higher level of debt in the
reporting period just passed resulted in an increase of interest
expense from EUR1.9 million to EUR2.2 million. The net financial
result reduced from -EUR1.7 million in the reporting period of the
previous year to -EUR2.0 million in the first quarter of 2007.
Earnings before tax fell to EUR4.0 million (Q1 2006: EUR4.1 million),
and earnings after tax amounted to EUR2.4 million (Q1 2006: EUR2.6
million). Earnings per share correspondingly fell from EUR0.09 to
EUR0.08 per share.

In the view of a traditionally weak first quarter, we are confident
to deliver our planned figures for the full financial year 2007 of
EUR229.1m of sales, EUR33.7m EBITDA and EUR12.0m net profit.

Munich May 10, 2007

The Management Board

end of announcement euro adhoc 10.05.2007 08:19:15
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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
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