News

Analytik Jena Presents Good 9-Month Figures and Reiterates Full-year Outlook

• Group thoroughly on target with very good revenue and earnings figures
• Positive operating business performance in all three segments
• Growth in Asia in double digits again; Europe behind previous year

Jena, August 9, 2012 — After nine months of the current financial year, Analytik Jena AG (Prime Standard: AJA, ISIN: DE0005213508) has posted revenue growth of 7.6 % and a 29.4 % jump in operating profit. The manufacturer of laboratory, bioanalytical and analytical measuring technology generated consolidated revenue of EUR 68.4 m in the reporting period (previous year: EUR 63.6 m) as well as earnings before interest and taxes (EBIT) of EUR 4.4 m (previous year: EUR 3.4 m). With net profit for the period of EUR 2.4 m (previous year: EUR 0.6 m) and earnings per share of EUR 0.39 (previous year: EUR 0.09), the Company improved its results after the third quarter significantly in comparison with the previous year. For 2012 as a whole, Analytik Jena continues to expect revenue between EUR 91.0 m and EUR 93.0 m and operating profit exceeding EUR 6.0 m. In the previous year, the Group turned over EUR 86.3 m and generated EUR 5.0 m operationally.

"With this solid performance after nine months, we are on track to hit our revenue and return targets for the 2011/2012 financial year", said Klaus Berka, CEO of Analytik Jena AG. "On the basis of growth in all three operating segments, we expect to achieve a new revenue record by the end of the financial year."

Revenue Development and Segments

Analytik Jena’s positive revenue trend after the first half of the year continued in the third quarter of 2011/2012. This revenue growth was generated in all three business units. Analytik Jena benefited primarily from sustained stable operating business in the largest unit, Analytical Instrumentation, and from very satisfying revenue development in the smallest unit, Optics, in which business picked up considerably after nine months, namely by 20.8 %. Here, in the reporting period, Analytik Jena achieved revenue of EUR 4.2 m (previous year: EUR 3.5 m). After three quarters of the current financial year, the revenue growth in Analytical Instrumentation amounted to 9.8 %. Overall, revenue of EUR 44.1 m (previous year: EUR 40.1 m) was generated here. The Life Science unit made up for the slight revenue decline it posted after six months and offset the current weakness of CyBio AG, which is consolidated in this unit. As of June 30, 2012, it was at a similar level as the previous year at EUR 20.1 m (previous year: EUR 20.0 m).

Analytik Jena posted an export ratio of 72.3 % (previous year: 70.6 %). The Asian core region distinguished itself once again. In this region, the Company generated revenue of EUR 27.4 m (previous year: EUR 21.7 m), 26.4 % more than in the same period of the previous year. In its German home market, revenue remained stable at the level of the previous year at EUR 19.0 m (previous year: EUR 18.7 m). However, revenue declined in the Europe region, in which goods worth a total of EUR 15.0 m (previous year: EUR 17.2 m) were exported. The difficult economic conditions in the wake of the European debt crisis had a negative impact on operational business in both regions.

Results and Earnings

In the reporting period, Analytik Jena achieved earnings before interest, taxes, depreciation and amortization (EBITDA) of EUR 7.4 m (previous year: EUR 6.2 m), i.e. a year-on-year increase of 19.4 % with a double-digit EBITDA margin of 10.9 % (previous year: 9.8 %). Operating profit increased in double digits by 29.4 % compared with the same period of the previous year. Analytik Jena closed the reporting period with operating profit (EBIT) of EUR 4.4 m (previous year: EUR 3.4 m). The EBIT margin was 6.5 %. The stable development in the Analytical Instrumentation core unit must be highlighted here, which generated the consolidated earnings with an EBIT margin of 11.1 %. Earnings in Life Science continue to be characterized by targeted market development activities, primarily in China and Japan. While successes have already been made in China, further efforts are required in Japan. The Optics unit has stabilized and can continue on this course.

Earnings before tax (EBT) of EUR 3.8 m (previous year: EUR 1.1 m), which more than tripled year on year, benefited in particular from the favorable currency situation, due to which the currency losses of the previous year were reduced considerably and currency gains were made in the reporting period. As of the end of the third quarter of the current financial year, the Group generated net profit for the period of EUR 2.4 m (previous year: EUR 0.6 m), and therefore an increase of 307.6 %. The share of this attributable to the shareholders of Analytik Jena AG totals EUR 2.1 m (previous year: EUR 0.5 m), which corresponds to earnings per share of EUR 0.39 (previous year: EUR 0.09).

Changes in Statement of Financial Position

The Group's total assets as of the balance sheet date on June 30, 2012 increased from EUR 83.6 m to EUR 87.4 m. In the reporting period, Analytik Jena showed equity of EUR 45.1 m (September 30, 2011: EUR 38.6 m). The equity ratio rose from 46.1 % as of September 30, 2011 to 51.6 % as of June 30, 2012. Cash and cash equivalents totaled EUR 6.2 m as of the end of the reporting period (September 30, 2011: EUR 5.5 m). In the reporting period, Analytik Jena recorded negative operating cashflow of EUR -0.2 m.

Human Resources

As of June 30, 2012, the Group employed 814 staff, including 36 trainees (previous year: 803 employees, including 36 trainees).

Outlook

In view of the very good business trend after nine months, Analytik Jena AG assumes that it will fulfill its forecast for the 2011/2012 financial year. On the basis of incoming orders, the Company expects a good final quarter and overall double-digit organic growth rates in revenue for its core business, Analytical Instrumentation. In comparison with the first three quarters, Analytik Jena anticipates that revenue in the Life Science segment will be increased in the fourth quarter despite stagnating business at CyBio AG. The Optics business unit will keep up the performance it has shown after nine months throughout the year as a whole and close the reporting period with revenue growth in double digits.

The full financial report can be accessed at http://berichte.analytik-jena.de/9-MonthReport_1112.pdf.