DGAP-News

Alphaform AG: reorientation still on course

DGAP-News: Alphaform AG / Key word(s): Half Year Results/Half Year
Results
Alphaform AG: reorientation still on course

08.08.2014 / 08:03

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Press Release

H1 2014:
Alphaform reorientation still on course

Revenue rises by 14.9% year-on-year to EUR 14.5 million
EBITDA of EUR -0.2 million only negative due to restructuring
Forecast for year as a whole retained

Feldkirchen, 8 August 2014 - The restructuring of Alphaform AG, a service
provider for industrial 3D printing, is still on schedule. Aided by a
stable economy, revenue climbed by 15.4% year-on-year in the second quarter
of 2014 from EUR 6 million to EUR 7 million. EBITDA improved from EUR -0.6
million to EUR -0.2 million in the second quarter. As in the first quarter,
earnings would have been positive were it not for the costs of the
restructuring. Earnings before taxes (operating earnings) improved from EUR
-0.9 million to EUR -0.5 million. In addition to the growth in revenue, the
widening of the gross profit margin by 8.8 percentage points from 58.6% in
the second quarter of the previous year to 67.4% in the second quarter of
2014 also contributed to this.

Taking the first half of the year as a whole, revenue rose by 14.9% to EUR
14.5 million (H1 2013: EUR 12.6 million). Earnings before taxes (operating
earnings) amounted to EUR -0.8 million in the first six months of 2014
after EUR -0.9 million in the same period of the previous year. EBITDA in
the first half of 2014 was EUR -0.2 million as against EUR -0.3 million in
the same period of 2013.

Cash flow from operating activities in the first half of 2014 amounted to
EUR -2.4 million after EUR -0.2 million in the same period of the previous
year. The main reasons for the negative cash flow were the greater need for
additional current assets due to the growth in business and the
restructuring.

The restructuring of Alphaform AG is well on its way: At the end of the
second quarter of 2014, all the individual measures of the current
programme were on schedule - in terms of both project progress and
earnings. The restructuring is built on five pillars in total: the
reorganisation and selective expansion of sales, three individual Alphaform
Excellence programmes at the three locations of Eschenlohe, Feldkirchen and
Stade and creating an open and trusting corporate culture.

Positive trends in all segments

Revenue in the Additive Manufacturing Plastics and Modelling segment
climbed by 14% year-on-year in the first half of the year, from EUR 7.9