Alphaform AG / Key word(s): Interim Report
05.11.2012 12:23
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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Ad hoc announcement
Nine months report of 2012:
Business development at Alphaform still on schedule
Revenue climbed by 6.0 % to EUR20.8 million in the first nine months
Operating result improved considerably to EUR0.5 million during the
reporting period
Forecast for the business year 2012 is confirmed
Feldkirchen, 5th November 2012 - Alphaform AG, a specialist in additive
manufacturing and leading company in the production of orthopaedic implants
and instruments, increased the group revenue in the first three quarters of
the business year 2012 by 6.0% to EUR20.8 million compared to the previous
year (2011: EUR19.7 million). The net result improved from EUR-0.2 million
in the first nine months of the year 2011 to EUR0.5 million. EBITDA (result
before interest, taxes and deductions) climbed by 70% to EUR1.7 million in
the first three quarters in 2012, compared to EUR1.0 million in the same
reporting period in 2011.
Considering the complete third quarter 2012, group revenues reached with
EUR6.8 million almost to the same level of the previous year (third quarter
of 2011: EUR6.9 million). At EUR0.14 million, net result in the third
quarter of the present year was considerably higher than the net result in
the same period of the previous year (EUR0.06 million). EBITDA (results
before interest, taxes and deductions) increased by 18% from EUR0.44
million in the third quarter of 2011 to EUR0.52 million in the reported
quarter. In the third quarter of 2012, EBIT improved by 40%, from EUR0.14
million in the previous year to EUR0.2 million in the current reporting
period.
The cash flow from operating activities in the Alphaform Group increased
during the total first nine months of 2012 to EUR0.5 million, after EUR-0.9
million in the same period in 2011. This shows the improved profitability
in the whole group, which also results from the increased gross profit
margin. As against the previous year, gross profit margin rose by 3.7
percentage points to 69.4% (first nine months in 2011: 65.7%). Alphaform
earnings per share amounted to EUR0.10 in the first three quarters of the
year 2012, after EUR-0.04 in the same period of 2011.
Meanwhile, reduced demand in prototyping
In the previous quarters, the prototyping business benefited from the
intensive development activity in the automotive manufacturing sector,
especially from premium segment customers. In the middle of September in
2012 and for the first time in the present business year, this area noted a
decline in incoming orders. Nevertheless, this development does not seem to
point the direction for the time being: Since mid October 2012, at the time
where this report was created, incoming orders rose up to the level of the
previous month. According to our estimation, premium automotive
manufacturers continue to foster their technology and model campaigns.
Nevertheless, Alphaform expects some uncertainties in this area in the
following months.
In September, Alphaform agreed cooperation with German RepRap GmbH, a
start-up enterprise, for distributing low-end-3D printers. Alphaform
already produces and assembles components and systems for these devices.
With this cooperation, Alphaform is expecting to enter into the
fast-growing, semi-professional market segments for individual and small
series production on a medium term.
Medical technology with on going result improvement
In the third quarter of 2012, revenues in the medical technology business
sector still remained at the same good level of the second quarter.
Continuous progress in the on-going enhancement measures improved the
revenue margin in the first three quarters to 2.4%. Customer relationships
remained stable, even after management change reported in the last quarter.
The order situation is still very good.
In September 2012, at the biggest European orthopaedic fair OrthoTec in
Zurich, the medical technology business segment appeared for the first time
as Alphaform Medical Division instead of MediMet. The customer reaction was
very positive, there was specially a big interest in the application of
additive production processes on orthopaedic implants. According to the
opinion of many experts, the production of orthopaedic implants using
additive technologies is an anticipated perspective for the future of this
segment - as it will be enabled through the core competencies of
Alphaform. This perspective was an essential aspect for establishing the
medical technology business segment and the acquisition of the implant
contract manufacturer MediMet in the year 2008.
Revenues of the foreign subsidiaries in Scandinavia and the UK were
seasonal affected by the summer break. In Scandinavia, business rested over
the entire July. In the UK, the summer break of the formula 1 weakened the
demand significantly.
The Alphaform subsidiary Claho is operating at good capacity, the same as
in the previous year. Here we expect especially increase in orders in the
implants post-processing area. Moreover, the installation of capacities for
metal-laser sintering is in preparation.
Forecast for the business year 2012 is confirmed
For the business year 2012 Alphaform continues expecting stable revenues at
the level of the previous year. Alphaform estimates that the development
activities of the premium automotive manufacturers will lead to a
temporarily reduced demand in the fourth quarter. In the medical
technology, the demand for orthopaedic implants and instruments remains
constant, the on-going enhancement measures program still provides for an
increasing profitability. For the complete year 2012 Alphaform AG continues
expecting a slightly higher revenue compared to the previous year and a
positive consolidated net result as well, as far as the targeted industries
of the company continue developing positive - considering the worldwide
uncertain situation.
Key figures of the Alphaform Group
<pre>
In million EUR 3rd
quarter
2012 2011
variation
Revenues 6,755 6,867 -1,6 %
EBITDA 0,517 0,437 18,3 %
Operating result 0,196 0,140 40,0 %
Earnings after taxes 0,137 0,059 132,2 %
Earnings per share 0,03 EUR 0,01 EUR 200,0 %
Employees in the Group as at 30th of 242 235 3,0
September
</pre>
Contact:
Dr. Thomas Vetter, CEO
ALPHAFORM AG
KapellenstraÃe 10
85622 Feldkirchen
Tel.: +49 89 905002 21
E-mail: tvetter@alphaform.de
Internet: www.alphaform.de
The publication is planned for today, 5th November 2012, at 11 a.m.
End of Ad-hoc release (c) DGAP 05.11.2012
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---------WKN: 548795; ISIN: DE0005487953; Index:
Notiert: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in
Berlin-Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart
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Information and Explaination of the Issuer to this News:
About Alphaform
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.
05.11.2012 DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Alphaform AG
KapellenstraÃe 10
85622 Feldkirchen
Germany
Phone: +49 (0)89 905002 - 0
Fax: +49 (0)89 905002 - 90
E-mail: ir@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 Announcement DGAP News-Service
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DGAP-Adhoc: Alphaform AG: Business development still on schedule
| Source: EQS Group AG