2013-02-14 08:33:01 -
Analytik Jena AG /
Analytik Jena Announces Financial Figures for the First Quarter 2012/2013
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* Operating profit below expectations at EUR 1.23 m
* Total revenue growth of 4.9 % satisfactory and heavily influenced by the
Analytical Instrumentation core business
* Revenue growth of 19.5 % in Asia reinforces market positioning
* Negative financial result due in particular to currency effects
Jena (Germany), February 14, 2013 - Analytik Jena AG (Prime Standard: AJA, ISIN:
DE0005213508) hereby announces the final figures for the first quarter of the
2012/2013 financial year. According to the figures, the manufacturer of
laboratory, bioanalytical and analytical
measuring technology generated
consolidated revenue of EUR 24.31 m (previous year: EUR 23.18 m), thus achieving
a year-on-year revenue upturn of 4.9 %. The Group achieved an operating profit
of EUR 1.23 m (previous year: EUR 1.89 m), despite the challenging environment.
Due especially to currency effects and a negative contribution to earnings from
the 49.0 % subsidiary AJZ Engineering, the Group posted a consolidated net loss
for the period of EUR -0.04 m (previous year: EUR 1.46 m). Earnings per share
amounted to EUR -0.01 (previous year: EUR 0.25).
"Analytik Jena AG began the new financial year 2012/2013 with growth in
consolidated revenue. Nevertheless, we are not satisfied with our earnings in
the quarter. In the first few months of the new financial year, we posted some
weaker revenue and gross margins of subsidiaries, while we also had to
compensate for exchange rate influences. Even continued strong and growing
business in China and the Far East did not balance this out", said Klaus Berka,
CEO of Analytik Jena AG. "Nevertheless, we anticipate that this weaker start to
financial year 2012/2013 will balance itself out over the course of the period
as a whole, and that we will again achieve our aim of finishing the year with
increased revenue and earnings in our operating business."
Revenue Development and Segments
Segment performance presented a mixed picture. While the Analytical
Instrumentation unit again showed itself to be a strong pillar of the Company
and generated solid year-on-year revenue growth of 11.9 % to EUR 15.77 m
(previous year: EUR 14.09 m), in the Life Science segment - which currently
still focuses much more intensively on the European and American markets and is
thus confronted with the negative economic influences more heavily in comparison
- revenue declined by 7.5 % to EUR 7.35 m (previous year: EUR 7.95 m).
Especially the two subsidiaries Biometra GmbH and CyBio AG, despite still
showing positive operational figures, generated weaker revenue and earnings,
while business unit revenue in the parent company was raised by 29.6 %. The
Optics unit posted slight revenue growth of 4.5 % to EUR 1.20 m (previous year:
EUR 1.14 m), but was also forced to absorb higher costs due to high expenditure
for OEM product manufacturing. In Optics, the IWA exhibition taking place in
Nuremberg at the beginning of March is expected to have a significant positive
Considered in terms of regions, the Asia region made the most significant
contribution to revenue growth for the Analytik Jena Group. In Asia, revenue
increased from EUR 7.81 m to EUR 9.33 m year on year, a rise of 19.5 %. In
Germany and the rest of Europe, revenue was also up slightly by 2.8 % and 2.5 %
respectively, while revenue in America fell considerably by 27.4 %. The export
share increased slightly to 70.7 % in the first three months of the new
financial year (previous year: 70.1 %).
Operating profit of the Analytik Jena Group totaled EUR 1.23 m in the first
quarter (previous year: EUR 1.89 m), which was 35.2 % lower than that achieved
in the same period of the previous year. The EBIT margin declined accordingly,
falling from 8.2 % to 5.0 %. Analytik Jena AG posted earnings before interest,
taxes, depreciation and amortization (EBITDA) of EUR 2.26 m in the past quarter
(previous year: EUR 2.89 m), which is equivalent to a decline of 21.7 %. Owing
to the unfavorable development of the USD and YEN and the resulting exchange
rate losses (compared to exchange rate gains in the same period of the previous
year), as well as a negative result from the investment in subsidiary AJZ
Engineering, the financial result was impacted negatively. Analytik Jena thus
posted earnings before taxes (EBT) of EUR -0.06 m (previous year: EUR 2.06 m).
Overall, the Analytik Jena Group posted a consolidated net loss for the period
of EUR -0.04 m (previous year: EUR 1.46 m). Earnings per share amounted to EUR -
0.01 (previous year: EUR 0.25).
Changes in Statement of Financial Position
The Group's total assets as of the balance sheet date on December 31, 2012 fell
slightly by 3.3 % to EUR 102.17 m (September 30, 2012: EUR 105.65 m). In the
reporting period, Analytik Jena showed almost unchanged equity of EUR 46.16 m
(September 30, 2012: EUR 46.25 m). The equity ratio rose accordingly from
43.8 % as of September 30, 2012 to 45.2 % as of December 31, 2012. Cash and cash
equivalents totaled EUR 20.34 m as of the end of the reporting period (September
30, 2012: EUR 21.53 m). At the same time, Analytik Jena recorded operating cash
flow of EUR 1.57 m in the reporting period.
As of the balance sheet date, the Group employed 815 staff, including 46
trainees (previous year: 807 employees, including 39 trainees).
Development in the Analytical Instrumentation business unit will largely depend
on the future global economic situation, whereby the largest growth prospects
exist in developing and emerging countries, above all China, where Analytik Jena
AG has an excellent market position. However, steadily rising costs in China and
a growing currency risk must also be taken into consideration. Irrespective of
these variables, the Executive Board expects stable business in this core area
The Company expects revenue and earnings to stabilize in the Life Science
business unit. The subsidiaries, including Japan, are anticipated to contribute
to this as well as China.
In the Optics consumer segment, which has not yet returned to its former
strength, the Company's main focus is on expanding the new OEM business area as
well as traditional observation optics and optical sights. By tradition, the IWA
leading exhibition held in Nuremberg at the beginning of March will once again
have a significant positive effect on order and revenue development in the
segment in the current financial year. Thanks also to a series of new or
modified products, Analytik Jena expects this unit to regain momentum.
The Company anticipates a stable second quarter overall. As is usual, Analytik
Jena will announce its outlook for the entire financial year at the Annual
General Meeting on April 23, 2013.
The full financial report can be accessed at berichte.analytik-jena.de/3-
Analytik Jena AG
Tel. +49 3641 779281
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