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Airopack Technology Group AG: Half year report 2016 - Seite 2
close alignment with Airopack's main customers in order to minimize
disruption to their supply chains.
The new state-of-the-art plant in Waalwijk, the Netherlands, which will
have an initial annual capacity of 80 million pieces of Airopack, will
commence operations in the fourth quarter of 2016. In the second phase, the
manufacturing capacity of the Waalwijk plant can be doubled to 160 million
pieces annually, which is scheduled to take place in the second half of
2017. Necessary changes to the building infrastructure, as well as the
delivery and installation of existing and new machinery, are on track for
both timing and cost. Meanwhile, the first validation runs of the Airopack
assembly lines have been successfully completed and the qualification
process of the new factory is also on track. ATG management has been
strengthened on various levels, and the requisite operational staff has
been hired. The knowledge transfer is nearly completed with the help of a
group of key operational employees from the Swiss manufacturing facility.
ATG was able to secure financing for the roll-out of its patented Airopack
technology thanks to its new strategic partnership with the Apollo Funds.
The Airopack global growth strategy will be supported by the further
development of an authorized filler network ("AFN") business platform. The
AFN platform offers qualified filling companies the opportunity to become
local filling partners for Airopack on a license base.
Outlook
Based on the current development of the customer and sales pipeline, ATG
expects an ongoing positive evolution of Airopack sales and results. Once
the first deliveries from the new facility have been shipped, ATG expects
to be able to announce updates on market launches from both existing and
new customers.
With its current cost structure, ATG estimates that it will reach EBITDA
break-even once production reaches a run rate of 80 million pieces per
year. The further ramp-up to a run rate of 160 million pieces annually is
estimated to only marginally increase ATG's fixed cost base, thus further
increasing future profitability. ATG continues to be confident that its
mid-term goal of a run rate volume of over 700 million pieces annually can
be achieved, compared to a total aerosol market of 15.48 billion annual
units as of the end of 2015 .
Investor day
ATG is pleased to announce it will organize an investor day at its new
plant in Waalwijk, the Netherlands once the production ramp-up has been
completed. The ATG investor day will be hosted by Quint Kelders, CEO of
technology thanks to its new strategic partnership with the Apollo Funds.
The Airopack global growth strategy will be supported by the further
development of an authorized filler network ("AFN") business platform. The
AFN platform offers qualified filling companies the opportunity to become
local filling partners for Airopack on a license base.
Outlook
Based on the current development of the customer and sales pipeline, ATG
expects an ongoing positive evolution of Airopack sales and results. Once
the first deliveries from the new facility have been shipped, ATG expects
to be able to announce updates on market launches from both existing and
new customers.
With its current cost structure, ATG estimates that it will reach EBITDA
break-even once production reaches a run rate of 80 million pieces per
year. The further ramp-up to a run rate of 160 million pieces annually is
estimated to only marginally increase ATG's fixed cost base, thus further
increasing future profitability. ATG continues to be confident that its
mid-term goal of a run rate volume of over 700 million pieces annually can
be achieved, compared to a total aerosol market of 15.48 billion annual
units as of the end of 2015 .
Investor day
ATG is pleased to announce it will organize an investor day at its new
plant in Waalwijk, the Netherlands once the production ramp-up has been
completed. The ATG investor day will be hosted by Quint Kelders, CEO of
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