euro adhoc: Curanum AG / quarterly or semiannual financial statement / Publishing the figures of 2nd Quarter 2008 (E)

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

12.08.2008

Ad-hoc-Mitteilung

NET PROFIT CLIMBS BY 18% IN THE FIRTST HALF OF 2008

CURANUM AG, Munich, generated revenue of EUR 63.7 million in the second quarter
of 2008 (previous year: EUR 56.9 million), which corresponds to an increase of
11.9%. The key factor for the increase was the first-time consolidation of
ELISA Seniorenstift GmbH, with its six facilities, which was acquired as of
January 1, 2008. First-half revenue nevertheless fell short of our
expectations. During the course of the first half of the year, occupancy fell
due to greater competition, with a decline between February and the end of
April to 88%, although it has been rising again since May. However, this
positive trend in the second quarter was unable to fully compensate for the
fall in utilization.

Earnings before interest, tax, depreciation and amortization (EBITDA) increased
slightly in the second quarter of 2008 from EUR 6.4 million to EUR 6.8 million.
Depreciation and amortization rose from EUR 2.1 million to EUR 2.4 million, and
EBIT earnings before interest and tax grew from EUR 4.3 million to EUR 4.5
million in the second quarter. After-tax earnings doubled from EUR 0.8 million
to EUR 1.7 million when compared with the prior-year reporting period,
primarily due to lower interest payments and a lower tax rate. Earnings per
share correspondingly rose from EUR 0.02 to EUR 0.05 per share.

Net profit rose 18.2% from EUR 3.2 million in the first half of 2007 to EUR 3.8
million. This resulted in earnings per share of EUR 0.12 for the first half of
2008 (previous year: EUR 0.11).

Cash flow from operating activities rose due to the slight increase in
depreciation and amortization, the increase in provisions, and due to tax
rebates of around EUR 2.0 million in the first half of the year, from EUR 0.8
million in the previous year to EUR 9.0 million in the reporting period just
passed, and consequently increased tenfold compared with the previous year.
However, cash flow rose in year-on-year comparison even after the elimination
of special effects. For instance, gross cash flow (excluding changes in
provisions and working capital) rose from EUR 8.0 million in the previous year
to EUR 11.0 million in the first half of 2008.

Equity rose as a result of the second-half result to EUR 66.6 million (December
31, 2007: EUR 62.5 million). This is equivalent to an equity ratio of 27.1%
(December 31, 2007: 26.1%).

CURANUM enjoys a solid starting base for further acquisitions due to strong
growth in cash flow, pleasing growth in equity, and the accelerated rate of
consolidation in the care market, and the company is confident that it can make
these acquisitions in the second half of 2008. We shall work further on raising
quality and occupancy in the remaining months of the year, and we are assuming
that we shall maintain our current budgeting for the 2008 financial year.

Munich, August 12, 2008

The Management Board

|Key figures IFRS as of June 30, 2008 | | | | |
| | | | | | | |
| | 2nd | 1st | 1st Quarter|
| |Quarter |Half | |
|mil. EUR |2008 |2007 |2008 |2007 |2008 |2007 |
|Sales |63.7 |56.9 |127.5 |113.5 |63.7 |56.6 |
|Rental costs |13.4 |11.1 |27.2 |22.2 |13.8 |11.1 |
|EBITDA |6.8 |6.4 |14.7 |14.5 |7.9 |8.1 |
|Depreciation |2.4 |2.1 |4.7 |4.2 |2.3 |2.1 |
|EBIT |4.5 |4.3 |10.0 |10.3 |5.5 |6.0 |
|Financial result |-2.3 |-3.0 |-4.8 |-5.0 |-2.5 |-2.0 |
|EBT |2.2 |1.3 |5.3 |5.3 |3.0 |4.0 |
|Net profit |1.7 |0.8 |3.8 |3.2 |2.2 |2.4 |
|Cashflow |4.9 |-2.8 |9.0 |0.8 |4.1 |3.5 |
|Cash and cash equivalents |11.2 |3.5 |11.2 |3.5 |10.0 |4.2 |
|in % of balance sum |27.1% |27.4% |27.1% |27.4% |25.8% |19.3% |
|Balance sheet total |246.0 |226.1 |246.0 |226.1 |250.8 |214.9 |

Further inquiry note:
Bettina Pöschl
Tel. +49(0)89-242065-69
E-Mail: [email protected]

end of announcement euro adhoc
--------------------------------------------------------------------------------

emitter: Curanum AG
Maximilianstr. 35c
D-80539 München
phone: +49 (0)89 242065 60
FAX: +49 (0) 89 242065 10
mail: [email protected]
WWW: http://www.curanum.de
sector: Healthcare Providers
ISIN: DE0005240709
indexes: SDAX, CDAX, Classic All Share, Prime All Share
stockmarkets: regulated dealing/prime standard: Börse Frankfurt, free trade:
Börse Berlin, Börse Hamburg, Börse Stuttgart, Börse Düsseldorf,
regulated dealing: Börse München
language: English

OTS-ORIGINALTEXT PRESSEAUSSENDUNG UNTER AUSSCHLIESSLICHER INHALTLICHER VERANTWORTUNG DES AUSSENDERS - WWW.OTS.AT | OTB

print