DGAP-News: Alphaform AG: Nine-months figures: Upward does not bring Alphaform into plus
(firmenpresse) - DGAP-News: Alphaform AG / Key word(s): Quarter Results
Alphaform AG: Nine-months figures: Upward does not bring Alphaform
into plus
08.11.2013 / 11:54
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Press Release
Nine-month figures 2013:
Upward trend does not bring Alphaform into plus
Noticeable recovery in 3D printing, medical business partially in
deficit
9-months revenue reduces by 6.5% to EUR19.5 million compared to the
previous year
Total Group revenue at EUR-1.2 million during the reporting period still
considerable negative
Feldkirchen, 11/08/2013 - Alphaform AG, a specialist in additive
manufacturing and leading company in the production of orthopaedic implants
and instruments, remained behind its expectations in the third quarter of
2013. After the company fell into the loss zone mostly due to price
concessions during the first half of the year, it expected to get balanced
in the second half of the year supported by a re-started economic
situation. This was possible in the 3D printing and additive manufacturing
sectors, where Alphaform registered a steady upward trend since July 2013.
However, the situation in the medical division remains split in two:
Whereas the smaller branch of the CNC post-processing unit developed
absolutely positive, the core business with implant casting still remained
considerably behind the expectations. As a consequence, losses resulted in
the medical division due to too slow capacities adjustment. Despite a good
Group revenue at EUR6.9 million in the third quarter, a total result of
almost EUR-0.2 million was achieved.
Alphaform revenues reduced by 6.2% to EUR19.5 million during the first nine
months of the business year 2013 compared to the same period of the
previous year (first three quarters of 2012: EUR20.8 million). Group result
reduced from EUR0.5 million in the first nine months of 2012 to EUR-1,2
million during the reporting period. Along the already unexpected slow
business at implant casting, also the start-up costs of the new Internet
platform Artshapes affected the earnings of the third quarter.
Cash flow from operating activities during the first nine months of the
fiscal year was with EUR0.5 million slightly higher than in the same period
of the last year. The gross profit margin reduced slightly in the third
quarter, from 64.6% in year 2012 to 64.1% in year 2013. Earnings per share
reduced accordingly, from EUR0.10 in the first nine months of 2012 to
EUR-0.23 during the same period in 2013.
3D Printing and Additive Manufacturing on the rise
The field of 3D Printing and Additive Manufacturing could benefit from a
significantly growing volume of orders in the automotive industry in the
third quarter of 2013. With revenues of EUR4.9 million the third quarter
was the second strongest in recent years. After mainly major customers had
ordered very cautiously in the first four months of the year, the situation
improved increasingly since May. Since July, the price pressure, started at
the turn of the year, recovered where prices were not fixed by long-term
framework agreements.
Demand for additive manufacturing technologies was increasing over the
whole financial year, especially for laser sintering. In the second
quarter, the capacity has been increased accordingly. In the third quarter
Alphaform founded a joint venture company for a new Internet sales platform
for end users together with the Seed Investor Tiburon. 'Artshapes' offers
high quality design and art objects that are made to order with
professional additive process through Alphaform. Overall, the field of 3D
Printing and Additive Manufacturing has now largely overcome the demand and
prices decline and the related drop in profits in the first half and regain
its profitability.
Implant Casting suffers from order doldrums
Engaged in the manufacture and processing of active orthopaedic implants
Alphaform's Medical Division experienced after a very weak first quarter a
significant recovery of the business during the second quarter.
Distribution was expecting further order increase in the third quarter. At
the CNC machining unit these expectation where fulfilled however, for
casted implants, resident at our subsidiary MediMet, those expectations did
not meet. The resources made available were not used and caused losses in
the third quarter, which more than offset the expected gain in total.
The Alphaform subsidiaries in Scandinavia and the UK continued to perform
well. Over the past nine months, they achieved profitable growth of 7.8
percent of all activity.
Key Figures of the Alphaform Group
In million EUR 3rd 3rd Change 1.1.- 1.1.- ChangeFurther information related to the present business development of the
quarter quarter in % 30.9. 30.09. in %
2013 2012 2013 2013
Revenues 6.935 6.755 2.7 19.543 20.838 -6.2
EBITDA 0.250 0.517 -51.6 -0.038 1.678 -102.3
Operating result -0.073 0.196 -137.2 -0.965 0.704 -237.1
Earnings after taxes -0.177 0.137 -229.2 -1.244 0.524 -337.4
Earnings per share -0.19E 0.03E -200.0 -0.23E 0.10E -330.0
Equity as at 30th Sept 11.544 12.782 -9.7
Total assets as of 30th 20.277 21.385 -5.2
Sept
Free cash equivalents as at 1.126 1.633 -31.0
30th of Sept (2012 as at 31st
Dec)
Employees in the Group as at 235 242 -2.9
30th Sept
Alphaform AG can be obtained from the simultaneously released 3rd quarter
report of the company, which can be downloaded at www.alphaform.de
(IR-area).
About Alphaform
Alphaform AG, headquartered in Feldkirchen near Munich, was founded in
1996. The company is a European leader in the contract manufacturing of
complex and sophisticated components with additive manufacturing methods
that are often grouped under the term '3D Printing'. Important pillar of
the range 3D printing and additive manufacturing is the production of
near-series prototypes, especially for the automotive and capital goods
industries. The Medical Division of Alphaform holds a leading position in
Europe in the production and processing of orthopedic 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
in processes and materials for additive manufacturing of complex
prototypes, tools, individual components and small series of plastic and
metal. The key activities of the company are in the branches orthopedic and
medical, automotive and aerospace. Alphaform subsidiaries are located in
Germany, Finland, Sweden and the UK.
Contact:
Dr. Thomas Vetter Tel.: +49 89 905002 35
CEO Fax: +49 89 9050021035
ALPHAFORM AG E-mail: tvetter(at)alphaform.de
Kapellenstraße 10 Internet: www.alphaform.de
85622 Feldkirchen
End of Corporate News
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08.11.2013 Dissemination of a Corporate News, transmitted by DGAP - a
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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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