DGAP-News: Alphaform AG: Final figures of business year 2012: Alphaform confirms turnaround
(firmenpresse) - DGAP-News: Alphaform AG / Key word(s): Final Results
Alphaform AG: Final figures of business year 2012: Alphaform confirms
turnaround
28.03.2013 / 11:22
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Press release
Final figures of the business year 2012:
Alphaform confirms Turnaround
- Revenues up by 3% to EUR27.1 million
- Group EBITDA grew by 115% to EUR 2 million
- Operating result at EUR0.5 million clearly positive
- Further results improvement expected for 2013
Feldkirchen, 28th March 2013 - Alphaform AG, a specialist in additive
manufacturing and one of the leading companies in the production of
orthopaedic implants and instruments, increased its group revenues slightly
by 3% in the business year 2012, from EUR26.3 million in the previous year
to EUR27.1 million. The net result was increased up to almost 0.8 million
in the year 2012, compared to EUR-1.3 million in 2011. Accordingly,
operating result rose to EUR0.5 million (compared to EUR-1.6 million in the
previous year). A main reason for the negative result in year 2011 was a
nonrecurring book value depreciation amounting to EUR1 million of the
subsidiary MediMet GmbH. The sustainability of the turnaround - already
achieved in the previous year - is represented by the increase of EBITDA by
115%: Earnings before taxes, interest and depreciations accumulated to
EUR1.0 million in 2011. Company's EBITDA in 2012 was more than EUR2.0
million.
The goal of Alphaform AG in the reporting period was result improvement
prior to achieving revenues growth. Considering the result improvements and
a generally pessimistic economic situation, Alphaform is satisfied with the
revenues growth achieved. The gross profit margin was increased from 67% to
70.7%. The cumulative backlog was at the end of the year 2012 at EUR3.0
million against to EUR3.8 million at the end of 2011.
Prototyping grows, Medical Technology consolidates
In the traditional business segment Prototyping, consisting of Rapid
Manufacturing and Rapid Tooling, Alphaform AG applies primarily additive
manufacture technologies. In the business year 2012, 66% of the revenues of
the company -or EUR17.9 million- was reached by Prototyping. More than
half of this was accomplished with the manufacturers of the automotive
industry and their suppliers. Motor sport contributed another 15% of the
segment revenues. The remaining revenues were obtained from very different
areas, such as Aerospace or Electronics. In the past two years, the
Prototyping segment specially benefited from the brisk development activity
of the German automotive manufacturers.
In the Medical Technology segment, Alphaform AG reached EUR9.2 million or
34% of revenues, compared to EUR10.1 million or 40% of the revenues in the
previous year. This was caused mainly from the elimination of trading
transactions with a customer of MediMet, now insourced by this customer.
Furthermore, the decline in the previous business year also reflects the
focus of Alphaform obtaining earning improvement prior to revenues growth.
Group synergies between MediMet and Alphaform Claho were further expanded.
Solid balance sheet development
Total assets grew by 4.4% in the business year 2012, from EUR20.5 million
to EUR21.4 million. Cash Flow from operating business activities decreased
in the business year 2012 to EUR0.2 million compared to EUR1.7 million in
the business year 2011. One reason for this is a reduction of factoring
volume, which decreased by EUR0.7 million. Depreciations diminished from
EUR2.2 million to EUR1.3 million. Investments in fixed assets rose
slightly, from EUR1.2 million in 2011 to EUR1.3 million in 2012, specially
due to the expansion of capacities in additive manufacturing.
Cash flow from financing activities rose from EUR-2.4 million in 2011 to
EUR0.5 million in the year 2012. This was also achieved by a
sale-and-rent-back-business amounting to EUR1.5 million. The amount of cash
of fixed and current assets reduced from EUR1.9 million to EUR1.6 million
compared to the previous year. Capital reserves remained constant at
EUR11.3 million compared to the previous year. Equity was up to EUR12.8
million compared to EUR12.3 in the previous year. Equity ratio remained
constant at 60%. The general shareholders meeting will be held on 6th June
2013 in Munich.
Forecast
For the year 2013 Alphaform AG expects a revenues growth of approximately
EUR29 million, as far as the economic situation remains stable. In the
current year, the company will further focus on continuous productivity
gains and earning improvements. Accordingly, the board assumes to increase
result after taxes to approx. EUR0.8 million in 2013.
Key figures of the Alphaform Group
Million EUR 2012 2011 ChangeAbout Alphaform
Revenue 27.103 26.309 3.0 %
EBITDA 2.044 0.952 114.7 %
Operating result 0.766 -1.288 -
Result after taxes 0.537 -1.579 -
Earnings per share 0.10 EUR -0.30 EUR -
Equity as of Dec 31st 12.782 12.254 4.3 %
Total assets as of Dec 31st 21.385 20.491 4.4 %
Cash and cash equivalents as of Dec 31st 1.633 1.552 5.2 %
Group employees as of Dec 31st 237 231 2.6 %
Alphaform AG, based in Feldkirchen near Munich and founded in 1996, is a
production company for complex components and products produced in small
batches. Alphaform belongs to the European market leaders in prototyping
and to the production of series closer prototypes, particularly for the
automotive and capital goods industries. The company has a leading position
throughout Europe in manufacturing orthopaedic implants and instruments.
The shares of Alphaform are listed in the Prime Standard Segment of the
Frankfurt Stock Exchange (FWB) under the abbreviation ATF.
The core competence of Alphaform lies in its extensive application know-how
for processes and materials for the additive production of complex
prototypes, tools, individual components and small series made of plastic
and metal. The company's activity is focused on the orthopaedic and medical
technology, automotive, aviation and aerospace industries. The subsidiaries
of Alphaform are located in Germany, Finland, Sweden and the UK.
Contact:
Dr. Thomas Vetter
CEO
ALPHAFORM AG
Kapellenstraße 10
85622 Feldkirchen
Tel.: +49 89 905002 21
Fax: +49 89 9050021021
E-mail: tvetter(at)alphaform.de
Internet: www.alphaform.de
End of Corporate News
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Language: English
Company: Alphaform AG
Kapellenstraße 10
85622 Feldkirchen
Germany
Phone: +49 (0)89 905002 - 0
Fax: +49 (0)89 905002 - 90
E-mail: ir(at)alphaform.de
Internet: www.alphaform.de
ISIN: DE0005487953
WKN: 548795
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
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205511 28.03.2013
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Datum: 28.03.2013 - 11:22 Uhr
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