Winning of Eckert & Ziegler in the first half of 2023 fell by 25 percent, sales increase by ten percent
Winning of Eckert & Ziegler in the first half of 2023 fell by 25 percent, sales increase by ten percent
Eckert & Ziegler, a Berlin group, recorded a decline in profit compared to the same period in the first half of 2023. The profit fell by 25 percent or 3.5 million euros to 10.9 million euros. Nevertheless, the company was able to increase sales by ten percent to 118 million euros. This information was communicated by Eckert & Ziegler on Thursday.
The group attributes the decline in profit to currency effects and increased expenses for future projects in the field of nuclear medicine diagnostics and therapy. Eckert & Ziegler is a leading manufacturer of isotope components for nuclear medicine and radiation therapy and delivers it to many countries worldwide. The company is listed on the Tecdax of the German Stock Exchange.
At the end of March, Eckert & Ziegler made a forecast for 2023, according to which total sales of 230 million euros were achieved and an annual surplus of around 25 million euros was expected. This would be significantly less than in the previous year than the profit was 29.3 million euros. The company originally expected a profit of 38 million euros. After announcing the forecast, the share price collapsed.Another challenge for Eckert & Ziegler is the Russian war against Ukraine. The group draws radioisotopes from Russia, but sales into the country play a subordinate role. The company also holds shares in several companies in Russia.
In the annual report for 2022, the company explains that administrative processes were adapted by the sanctions and alternative transport routes were established. So far, no insurmountable hurdles have occurred and deliveries from Russia are also preserved. Eckert & Ziegler has alternative suppliers for several radioisotopes.
The group operates a production and administration building in Berlin-Buch and employs 1036 people worldwide. The number of employees has increased by 60 employees compared to the previous year.
Overall, it shows that Eckert & Ziegler continues to work successfully in the field of nuclear medicine and radiation therapy despite the decline in profits. The company is actively mastering the current challenges due to currency effects and the Russian war against Ukraine by using alternative suppliers and transport routes.