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Eckert & Ziegler: Sales, Profits and Cash Flow at Record Levels

(Ad hoc press release)

Berlin, 18 February 2010 - According to preliminary results (unaudited), Berlin-based Eckert & Ziegler Strahlen- und Medizintechnik AG (ISIN DE0005659700), a specialist for isotope technology in medicine, science and industry, achieved sales growth of 42% to EUR 102 million (EUR 72 million) for the fiscal year 2009. The same period saw an almost threefold increase in the annual net profit from just under EUR 5 million to round EUR 14 million, or roughly EUR 3.58 per share. Note that the figures for 2009 include approximately EUR 6.2 million in positive special effects for accrual closeouts and extraordinary legal fees associated with the takeover bid for International Brachytherapy S.A (IBt) launched at the end of the year. Excluding special effects, the annual net profit more than doubled from EUR 3.4 million to EUR 7.4 million, or roughly EUR 1.95 per share, taking into account also the capital increases. Liquid assets rose by EUR 36 million from EUR 7 million to EUR 43 million. Of the increase, EUR 21 million were assets raised in the last capital increase that had not yet been invested as of the balance sheet date. Even more positive was the contribution from the operating cash flow, which almost tripled compared to the previous year's value to EUR 23 million.


The largest growth component was contributed by the Therapy segment. Sales rose by 10% to EUR 30 million. Following losses in the previous year due to restructuring measures, the revitalized segment came back to post substantial profits. In addition to the long-term improved financial performance, increased sales, in particular of Afterloaders in Eastern Europe, as well as the Russian joint venture resonated positively. These developments, coupled with re-entry into the American market, have generated exceptional prospects for future growth. The Industry segment generated the highest sales growth and the largest absolute contribution to earnings. Sales rose by 73% to EUR 52 million, while the annual net profit rose by 26% to EUR 5.3 million. The factors driving growth were the consolidation of former competitor Nuclitec as well as continued increases in sales of oil well logging sources. With a sales increase of 31% to EUR 20 million, the Radiopharmaceuticals segment posted a profit for the first time. This segment, too, profited from the Nuclitec acquisition, which included the Auriga division.

All figures are provisional pending the final audit and financial statements by the supervisory board.

The Board of Directors