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

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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