DGAP-News: Curanum AG / Key word(s): Final Results Curanum AG: Group net result burdened by extraordinary items 28.03.2014 / 08:05 --------------------------------------------------------------------- / Curanum AG, Munich, has published its 2013 consolidated financial statements yesterday. Consolidated revenue was reported up by 1.5%, and operating EBITDA grew by almost 6% to EUR 34 million. Consolidated net income was nevertheless burdened by a high level of extraordinary items totaling EUR 14 million. The Group consequently reports a loss before tax of EUR -6 million (previous year: profit of EUR 4.2 million). These extraordinary items relate mainly to impairment charges applied to real estate, and consulting and procedural costs for the planned non-cash capital contribution of Phönix Beteiligungs-GmbH (Phönix) into Curanum AG. Korian S.A. (Korian), Paris, had acquired around 78% of the Curanum shares in spring 2013. The Group now ranks as European number one on the care market with meanwhile almost 600 facilities and around 57,000 beds in France, Italy, Belgium and Germany. Korian had offered to render the non-cash capital contribution of Phönix along with its takeover of the Curanum shares. This would have represented a major opportunity for Curanum shareholders, as all Korian Group facilities in Germany would have transferred to Curanum. Some minority shareholders nevertheless brought lawsuits against the resolution that had been approved by a majority at the Shareholders' General Meeting. Proceedings that Curanum brought before the Munich Higher Regional Court to accelerate the registration of the transaction failed. This legal dispute was unanimously declared settled a few days ago in order for Curanum to avoid further high costs associated with many expected years of legal proceedings. Instead of the non-cash capital contribution, Curanum and Phönix agreed to enter into a service agreement to leverage as many synergy effects for both companies as possible. The service agreement of Mrs. Patricia Emmel as Chief Financial Officer was terminated prematurely with effect as of March 31, in order to allow her to pursue new career challenges. As of April 1, 2014, former authorized company officer Mr. Christian Zeltner was appointed as the Management Board member responsible for management of the operating business. Consequently, two Management Board members will continue to be responsible for overall business. Munich, March 28, 2014 The Management Board End of Corporate News --------------------------------------------------------------------- 28.03.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Curanum AG Zirkus-Krone-Straße 10 80335 München Germany Phone: +49 (0)89 2420 65-0 Fax: +49 (0)89 2420 65-10 E-mail: [email protected] Internet: www.curanum.de ISIN: DE0005240709 WKN: 524070 Indices: Prime Standard Listed: Regulierter Markt in Frankfurt (Prime Standard), München; Freiverkehr in Berlin, Düsseldorf, Hamburg, Hannover, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 260208 28.03.2014