Esaote S.p.A. (Esaote), an Italy-based medical devices company, has reported consolidated sales of EUR294.7 million for the full year 2008, up 4.7%, compared with the consolidated sales of EUR280 million in the previous-year end. It has reported total net consolidated profit amounted to EUR7.4 million for the full year 2008.
Domestic sales show a reduction by 1,5%. International sales , which are 58,5% of total revenues, showed a strong increase of 9,5%. The most significant value was in the People’s Republic of China where sales increased by 56% with respect to the previous year. In 2008 sales of proprietary products (featuring Esaote know-how and Esaote technology) corresponded to 88,3% of total sales with a significant increase in respect to 2007. 2008 costs in Research and Development amounted to EUR26,6 million (+11,2% with respect to 2007), representing 10,2% of proprietary product sales.
In 2008 EBITDA accounted for EUR38,7 million, corresponding to 13% of total sales, versus EUR41,9 million of 2007. Total net consolidated profit amounted to EUR7,4 million. Net financial position as of December 31st 2008 amounted to EUR11,4 million, with a strong reduction in respect to the previous year.
For the year 2009 a further growth of sales is expected due to the launch of new products as well as of new solutions in ultrasounds and MRI imaging technologies, representing the core business of the Esaote Group. A strong growth is also expected in the countries of BRIC area ( Brasil, Russia, India and China), which should represent about 20% of Esaote total sales.