euro adhoc: Curanum AG / Financial Figures/Balance Sheet / CURANUM AG publishes preliminary results for the 2008 financial year

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06.03.2009

Ad hoc

CURANUM AG publishes preliminary results for the 2008 financial year:

Fourth quarter weaker than expected, consolidated earnings rise 67%
as a result of tax effect

Consolidated revenue rose 11.8% in 2007 to EUR 257.1 million
(previous year: EUR 230.1 million). The increase was mainly
attributable to the consolidation of the ELISA Group. There was a
disproportionate rise in rental expense in the year under review,
from EUR 45.1 million to EUR 54.6 million, representing an increase
of 21.1%. This was mainly due to a sharp rise in the number of
managed apartments, and rents consequently represented a higher share
of revenue.

Earnings before interest, tax, depreciation, amortization and rent
(EBITDAR) rose from EUR 75.8 million in 2007 to EUR 83.9 million in
2008, which corresponds to an increase of 10.7%. The EBITDAR margin
fell slightly from 32.9% to 32.6%, which continues to represent an
operating return well above the sector average.

EBITDA earnings after rental expense declined from EUR 30.7 million
to EUR 29.3 million, feeding through into a fall in the EBITDA margin
from 13.3% in 2007 to 11.4% in 2008. Depreciation and amortization
rose from EUR 8.6 million to EUR 9.5 million in 2008 as a result of
the consolidation of the ELISA Group. Consequently, EBIT earnings
fell from EUR 22.2 million in the previous year to EUR 19.7 million
in the reporting period just passed.

The trend of both revenue and earnings was more negative than
originally budgeted due to the decline in utilization in the fourth
quarter, and the significantly below budget average utilization over
the course of the 2008 financial year. In addition, food and gas
prices rose faster than budgeted in the second half of the year.

Earnings after tax grew by 67.3% from EUR 4.2 million to EUR 7.0
million as a result of a considerably lower tax burden in 2008, and
as a result of the negative tax effect in 2007 due to the tax reform.
Earnings per share rose from EUR 0.13 to EUR 0.22 in the 2008
financial year.

Cash flow from operating activities grew from EUR 10.5 million to EUR
19.8 million, while gross cash flow climbed from EUR 19.3 million to
EUR 21.8 million. This reflected both lower tax payments as well as
higher depreciation/amortization and interest payments than in the
previous year.

The complete results for 2008 financial year will be published on
March 27, 2009, as planned.

Munich, March 6, 2009

The Management Board

|Key figures IFRS as of Dec. 31, 2008 | | |
| | | | |
|mil. EUR |2008 |2007 |yoy |
|Sales |257.1 |230.1 |11.73 |
|Staff costs |127.9 |115.1 |11.03 |
|EBITDAR |83.9 |75.8 |10.69 |
|Rental costs |54.6 |45.1 |21.06 |
|EBITDA |29.3 |30.7 |-4.56 |
|in % of sales |11.4% |13.3% | |
|Depreciation |9.5 |8.6 |11.76 |
|EBIT |19.7 |22.2 |-10.86 |
|in % of sales |7.7% |9.6% | |
|Financial result |-9.5 |-9.4 |1.06 |
|EBT |10.2 |12.7 |-19.69 |
|Net profit |7.0 |4.2 |68.98 |
|EPS (EUR) *) |0.22 |0.13 |61.54 |
|Cashflow |19.8 |10.5 |88.57 |
|CPS (EUR) *) |0.61 |0.34 |79.41 |
|Cash and cash equivalents |10.0 |25.6 |-60.94 |
|Equity capital |66.6 |64.6 |3.10 |
|in % of balance sum |27.7% |26.8% | |
|Balance sheet total |240.4 |240.7 |-0.12 |
| | | | |
|*) Number of underlying outstanding | | |
|shares in 2008: 32.611.091 Shares | | |
|*) Number of underlying outstanding | | |
|shares in 2007: 31.240.822 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: SDAX, CDAX, Classic All Share, Prime All Share
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