Analytik Jena Still on Course with Mid-Year Performance

• 14.9% sales growth after six months
• Profits below previous year as forecast
• Profit increase in the second half of the year expected

Jena (Germany), May 12, 2010 — In the first six months of the current 2009/2010 financial year Analytik Jena AG (Frankfurt DE0005213508, Prime Standard: AJA) generated sales growth of 14.9%. According to the semi-annual figures presented today in Jena the Company achieved consolidated net sales of EUR 40.8 m, thereby creating an important foundation for a successful, growth-oriented overall financial year.

"The latest key financial figures for the first half of the 2009/2010 financial year show that Analytik Jena is rigorously maintaining its corporate development geared towards long-term trust and sustained growth," said Klaus Berka, Chief Executive Officer of Analytik Jena AG. "Although the Company cannot completely escape the impact of the overall economic conditions, its rising sales figures and stable results throughout the entire first half of the year reflect a solid performance."

Sales and earnings

In the first half of the 2009/2010 financial year, Analytik Jena generated consolidated sales of EUR 40.8 m (previous year: EUR 35.5 m), thus achieving sales growth of 14.9%. At EUR 3.0 m, the Company’s EBIT declined by 28.0% (previous year: EUR 4.2 m), in particular due to consolidation effects from CyBio AG and Biometra GmbH as well as major orders from the previous year in Analytical Instrumentation to be compensated. This is also reflected in the year-on-year fall in the Group’s gross margin from 51.3% to 48.9%. At EUR 1.9 m, net profit attributable to the shareholders of the parent company is down 28.2% on the same period of the previous year (EUR 2.7 m). Earnings per share amount to EUR 0.37 (previous year: EUR 0.58).

In the established Analytical Instrumentation division the Company recorded a slight drop in sales of 9.3% compared with the same period of the previous year. The major orders implemented in the same period of the previous year were well compensated by a higher level of incoming orders in the retail business. Altogether this division proved very stable and contributed a solid EUR 24.4 m to consolidated sales.

The Life Science division continued its growth and achieved sales of EUR 14.0 m. This is equivalent to an increase of 165.9% albeit that it also contains the subsidiaries CyBio AG and Biometra GmbH acquired over the past year. In the same period of the previous year only CyBio AG was fully consolidated for the first time for the month of March.

The lingering weakness in demand in the consumer-oriented market environment of the optoelectronic industry drove the downward sales trend in the optics segment in the first half of the year. Here the Group generated sales of EUR 2.4 m in the first six months of the financial year, down 29.2% year-on-year. However, taking just the second quarter into account it becomes clear that the downward trend has been halted. At EUR 1.3 m, sales were actually 9.2% up on the previous year’s figure of EUR 1.2 m.

Balance sheet and cash flow

The Group’s total assets rose as of March 31, 2010 to EUR 81.6 m. Non-current assets rose to EUR 27.9 m, partly due to the acquisition of the real-time PCR license under intangible assets and investments in the Jena site. Equity increased to EUR 40.4 m. This corresponds to an equity ratio of 49.5%. The Group’s cash and cash equivalents rose to EUR 13.5 m as of the end of the reporting period.

Outlook

The company is maintaining its forecast made at the tenth Ordinary Annual General Meeting and continues to expect sales of around EUR 80.0 m for the current financial year. Furthermore, the Group anticipates operating profit of between EUR 7 m and EUR 7.5 m and earnings per share of between EUR 0.70 and EUR 0.85.

"On the basis of the sound performance of Analytical Instrumentation, the growth momentum in Life Science and the forecast recovery of the business situation at Optics, we consider the results presented to lie within the scope of our expectations. We are maintaining our forecasts for the financial year," emphasizes Berka.

The 6-Month-Report can be downloaded at
http://berichte.analytik-jena.de/6-MonthReport_0910.pdf.