28.03.2014 Alphaform AG  DE0005487953

DGAP-News: Alphaform AG: Alphaform streamlines its statement of financial position, accelerates realignment, change in the Management Board by mutual agreement

DGAP-News: Alphaform AG / Key word(s): Final Results Alphaform AG: Alphaform streamlines its statement of financial position, accelerates realignment, change in the Management Board by mutual agreement 28.03.2014 / 11:19 --------------------------------------------------------------------- Press release Final figures for the 2013 financial year: Alphaform streamlines its statement of financial position, accelerates realignment, change in the Management Board by mutual agreement - Group revenue declines by 4.5 % to EUR 25.9 million - Operating loss of EUR 2.9 million and non-recurring negative impact on the statement of financial position of EUR 3.3 million - Hanns-Dieter Aberle replaces Thomas Vetter as Management Board - 2014 guidance still negatively impacted by restructuring costs Feldkirchen, 28 March 2014 - In the 2013 financial year, the industrial 3D printing service provider Alphaform AG posted a 4.5% decline in Group revenue, from EUR 27.1 million to EUR 25.9 million. Due to the combination of the operating loss and a non-recurring impact to the statement of financial position described in more detail below, the Group operating result before tax of EUR 0.8 million in the 2012 financial year declined to EUR-5.8 million in the 2013 financial year. Correspondingly the 2013 result after taxes dropped sharply to EUR-6.2 million. Last year a plus of EUR 0.5 million was posted. EBITDA declined from EUR 2 million in the 2012 financial year to EUR-3.5 million in the current reporting period. There were two key reasons for the poor trend in the operating result. Firstly, after what was an initial unfortunate change in management, the medical technology subsidiary MediMet suffered from considerable weakness in terms of sales. In what was already a restrained market, this impacted the business trend in a particularly negative fashion. Secondly, in some cases production was too expensive in Alphaform's traditional business of additive manufacturing and 3D printing. Here a strong upturn in customer requirements - particularly in respect to delivery times - resulted in the machines frequently being used only on a restricted basis. This result was increasing material and labour costs. Alphaform reacted with its Excellent program which has already been initiated for improving processes and modernisation. Alongside operating issues, the annual result was negatively impacted particularly by non-recurring effects which influenced the statement of financial position, but not cash. These were chiefly impairments of EUR 3.3 million, also on inventories and goodwill. Due particularly to the stated non-recurring impact on the statement of financial position, the gross profit margin declined to 54.6% in the reporting year, from 69.8% in the 2012 financial year. The accumulated order backlog at the end of 2013 amounted to EUR 3.6 million (previous year: EUR 3.0 million). Stable 3D printing, decline at Medical The traditional business of Additive Manufacturing and 3D Printing deals primarily with manufacturing prototypes of various industrial sintering technologies. In the 2013 financial year, the company generated 66% of revenue or EUR 17.2 million with industrial 3D printing. This is a slight year-on-year upturn against the previous-year revenue figure of EUR 16.7 million. Almost two thirds of this was generated with automotive manufacturers and suppliers. This business was stable across the whole of the reporting period. In the Medical division, Alphaform AG manufactures primarily orthopaedic implants for joints, bone staples and the spine. In the reporting year, the division generated EUR 8.7 million or almost 34% of Alphaform revenue. In the previous year, the equivalent figure was EUR10.4 million. The lower revenue was due primarily to the problems described above. In October 2013, the new MediMet management team started working. It has already achieved considerable successes in terms of incoming orders and utilisation levels. However, these have not yet impacted the 2013 financial statements. Considerably streamlined statement of financial position Total assets declined from EUR 21.4 million in the previous year to EUR 15.8 million in the 2013 financial year. Despite the pre-tax loss of EUR5.8 million, cash flow from operating activities declined by only EUR 0.5 million to EUR -0.3 million in the 2013 financial year. This was due primarily to the high share in the result of non-recurring effects which did not impact cash and to considerable improvements in working capital. Investments in property, plant and equipment and intangible assets increased by EUR 0.3 million to EUR 1.0 million. This was driven by capacity extensions in industrial 3D printing. Cash flow from financing activities increased from EUR 0.5 million in EUR 2012 to EUR 0.8 million in 2013, the result primarily of cash inflow from taking up new open accounts. As of 31 December 2013, equity declined to EUR 6.6 million after EUR 12.8 million as of 31 December 2012. As a result, the equity ratio declined from 60% to 42%. For the 2013 financial year, earnings per Alphaform share sunk to EUR-1.16 after EUR 0.10 in the previous year. At the Annual General Meeting in Munich on 5 June 2014, the Management Board will propose that the net loss for the year is carried forward and no dividend is distributed. Hanns-Dieter Aberle new Management Board The previous Management Board Dr Thomas Vetter has been relieved of his position with immediate effect. His successor is the physicist Dr Hanns-Dieter Aberle. The change in the Alphaform Management Board was by mutual agreement. The Alphaform Supervisory would expressly like to thank Mr Vetter for the work he has done. Vetter headed Alphaform since January 2008. The Management Board agreement of Mr. Vetter who has a Ph.D. in engineering ran until the end of 2014. Since the third quarter of 2013, Vetter intensively advanced the restructuring process at Alphaform - in respect to both operations and the financial situation. He thus ensured the company obtained fresh funds of EUR 3.3 million in February this year. From the perspective of all those involved, this results in an ideal time for an early change at the top, especially as Vetter had declared his willingness to provide ongoing consultancy to Alphaform. Hanns-Dieter Aberle, the new Management Board, played a material role in the recent restructuring measures in an advisory capacity. Hanns-Dieter Aberle is a respected expert of many years in the areas of laser technology 3D printing. Over the last eight years, the physicist with a Ph.D. worked as an interim manager for SMEs in the mechanical engineering segment, primarily in the areas of laser technology and 3D printing. One of his previous positions was Managing Director of Digma, the tool manufacturer. Forecast for 2014 Industrial 3D printing is regarded as one of the great growth markets of the future. Despite the disappointing operating business, this is also reflected in the positive performance of the Alphaform share. The Alphaform AG Management Board also assesses the growth opportunities in a positive fashion and is convinced that it will be able to bring the company back on the track to success quickly. For the 2014 financial year, Alphaform AG expects to achieve revenue of approximately EUR 30 million and a significant earnings improvement against the previous year. As a result of the necessary restructuring expenses, for the 2014 financial year the Management Board expects a net loss to the order of EUR 1 million, due primarily to restructuring expenses. Key figures of the Alphaform Group

EUR million                            Final figures for the financial year
                                                   2012      2013    Change
                                                                       in %
Revenue                                          27.103    25.869      -4.5
EBITDA                                            2.044    -3.535         -
Operating result                                  0.766    -5.787         -
Result after taxes                                0.537    -6.171         -
Earnings per share                             0.10 EUR  -1.16 EUR        -
Equity as of 31 Dec                              12.782     6.626     -48.2
Total assets as of 31 Dec                        21.385    15.765     -26.3
Cash and cash equivalents incl. short-term        1.633     1.152     -29.5
investments as of 31 Dec
Group employees as of 31 Dec                        237       227      -4.2
About Alphaform Alphaform AG, established in 1996 and based in Feldkirchen, is an industrial 3D printing service provider and is a European market leader. We manufacturing highly complex prototypes, one-off items and small series made of plastics, metals and other materials. In doing so, we deploy approximately 10 different industrial 3D printing technologies and process roughly 200 different materials. We advise our customers on the optimum 3D printing technology and find the most suitable material. We also assist our customers in the technical and commercial optimisation of 3D printing projects with the right design. Alongside the prototype production, Alphaform AG has special expertise in orthopaedic implants, in tool making and lightweight design. The company is currently developing a web interface for automating 3D printing orders. It has subsidiaries in Germany, Finland, Sweden and the UK. The Alphaform share is listed in the Prime Standard segment on the Frankfurt Stock Exchange with the code ATF (WKN 548 795). Contact Dr. Hanns-Dieter Aberle CEO ALPHAFORM AG Kapellenstraße 10 85622 Feldkirchen Tel.: +49 89 905002 29 Fax: +49 89 9050021029 E-mail: [email protected] Internet: www.alphaform.de End of Corporate News --------------------------------------------------------------------- 28.03.2014 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 --------------------------------------------------------------------- 260283 28.03.2014

Die wichtigsten Finanzdaten auf einen Blick
  2017 2018 2019 2020 2021 2022 2023e
Umsatzerlöse1 0,00 0,00 0,00 0,00 0,00 0,00 0,00
EBITDA1,2 0,00 0,00 0,00 0,00 0,00 0,00 0,00
EBITDA-Marge3 0,00 0,00 0,00 0,00 0,00 0,00
EBIT1,4 0,00 0,00 0,00 0,00 0,00 0,00 0,00
EBIT-Marge5 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Jahresüberschuss1 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Netto-Marge6 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Cashflow1,7 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Ergebnis je Aktie8 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Dividende8 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Quelle: boersengefluester.de und Firmenangaben

1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de


WKN Kurs in € Einschätzung Börsenwert in Mio. €
0,000 0,00
KGV 2025e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
0,00 0,00 0,00 0,00
0,00 0,00 0,00 0,00
Dividende '22 in € Dividende '23e in € Div.-Rendite '23e
in %
0,00 0,00 0,00
Q1-Zahlen Q2-Zahlen Q3-Zahlen Bilanz-PK
Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
0,00% 0,00% 0,00% 0,00%
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Kunststoffe , 548795