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Alphaform AG: Alphaform streamlines its statement of financial position, accelerates realignment, change in the Management Board by mutual agreement - Seite 2
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
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
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