08.11.2013 Alphaform AG  DE0005487953

DGAP-News: Alphaform AG: Nine-months figures: Upward does not bring Alphaform into plus


 
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 --------------------------------------------------------------------- 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.-   Change
                         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


Further information related to the present business development of the 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: [email protected] Kapellenstraße 10 Internet: www.alphaform.de 85622 Feldkirchen End of Corporate News --------------------------------------------------------------------- 08.11.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Alphaform AG Kapellenstraße 10 85622 Feldkirchen Germany Phone: +49 (0)89 905002 - 0 Fax: +49 (0)89 905002 - 90 E-mail: [email protected] 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 --------------------------------------------------------------------- 238818 08.11.2013