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Alphaform AG: Preliminary first quarter 2014: Alphaform on track

DGAP-News: Alphaform AG / Key word(s): Quarter Results
Alphaform AG: Preliminary first quarter 2014: Alphaform on track

29.04.2014 / 12:53

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Press release

Preliminary first quarter 2014:
Alphaform on track

Revenue increases by 14.4% to EUR 7.5 million compared with same period
of previous year
Operating result of EUR -0.3 million affected by restructuring costs
Forecast for year as a whole confirmed

Feldkirchen, 29 April 2014 - Alphaform AG, a service provider for
industrial 3-D printing, is on course to achieve its announced realignment.
For the first quarter of 2014, the company reported an increase in revenue
of around 14.4% to EUR 7.5 million (first quarter of 2013: EUR 6.6
million). This development was supported by a stable economy during the
reporting period. The profit/loss before taxes (operating result) was EUR
-0.3 million in the first quarter of 2014, after a balanced result in the
same quarter of the previous year. The negative operating result was due
primarily to restructuring costs, including consultancy costs and
non-recurring expenses for the capital increase. This is also reflected in
EBITDA, which amounted to EUR 0.0 million in the first quarter of 2014. In
the same period of the previous year, this was plus EUR 0.3 million.

Cash flow from operating activities in the first three months of business
year 2014 was EUR -1.1 million, compared with EUR -0.3 million in the
reporting period of the previous year. This was also mainly due to
restructuring costs. The gross margin was increased slightly in the first
quarter of 2014 by 1.2% to 68.8 percentage points. In the same period of
the previous year, this was 67.6 percentage points.

Capital increase and change of Management Board

In February 2014, Alphaform AG implemented a capital increase. This brought
the company funds of around EUR 1.8 million. In addition to the capital
increase, on 25 February 2014 the core shareholders granted Alphaform AG a
loan of EUR 1.5 million. This is sufficient to finance our extensive
Excellence Programme for process improvement and modernisation across the
whole of business year 2014.

On 28 March 2014, Dr Hanns-Dieter Aberle, the new chairman, took over from
his predecessor. The change took place on mutually agreed terms with the
Supervisory Board.

"In the first quarter of 2014, we have achieved our realignment plan,"
emphasises Aberle. "We are on the right track and must now pursue this