Analytik Jena AG
Analytik Jena AG interim report for 9 months
Corporate-news transmitted by DGAP.
The issuer is solely responsible for the content of this announcement.
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Analytik Jena – Positive business development in core business of parent
company impaired by non-recurring effects at subsidiaries
Jena, August 5, 2005 – After the first nine months of the financial year
2004/2005, Analytik Jena Group generated an operating result of minus EUR
0.128 m (PY: EUR 2.169 m) on sales of EUR 48.608 m (PY: EUR 73.839 m), and is
therefore down significantly on the figures for the previous year. The
Executive Board reported on the reasons for this in its ad hoc disclosure
dated July 7, 2005.
Irrespectively of this, Analytik Jena has recorded a tangible recovery in its
instruments business since the start of the third quarter. Quarter-on-quarter,
instrument sales rose by 33.5 % to EUR 7.258 m (PY: EUR 5.435 m). The
cumulative sales in this area have now risen to EUR 20.542 m, up by around 1.2
% on the figure for the previous year of EUR 20.297 m. This increase is due
to both the successful market launch of new products and a significant
improvement in the Company’s positioning in its key markets.
In project business, the Group generated sales of EUR 28.066 m. The drop of
47.6 % largely corresponds to the estimate for the current financial year.
Nonetheless, the area is down on its projections as a result of the
postponement of some projects by customers. Management is extremely confident
that new major projects will be reported and initiated by the beginning of the
new financial year at the latest.
After the first nine months, total selling and marketing expenses amounted to
EUR 8.198 m (PY: EUR 9.686 m). In line with sales development, this is due to
the reduction in selling expenses in project business. At the end of the third
quarter, administrative expenses rose marginally by 2.6 % to EUR 2.824 m (PY:
EUR 2.752 m) in total. Research and development expenditure totalled EUR
3.055 m (PY: EUR 2.880 m), and were therefore around 6.1 % higher than in the
same period of the previous year.
The total gross margin in the Group improved by more than five percentage
points to 31.1 % (PY: 25.3 %) as a result of the change in the sales mix.
The operating result (EBIT) fell to minus EUR 0.128 m (PY: EUR 2.169 m). The
financial result includes interest income of EUR 0.092 m (PY: EUR 0.131 m) as
well as interest expenses and currency losses of EUR 0.478 m (PY: EUR 0.838
m). With net result for the period of minus EUR 0.334 m (PY: EUR 0.851 m),
basic and diluted earnings per share amount to minus EUR 0.09 (PY: EUR 0.22).
In connection with the recovery in instruments business and the advance
payments required for the launch of new products, inventories rose to EUR
10.610 m (as at September 30, 2004: EUR 8.566 m). Trade account receivables
increased by 76.8 % to EUR 7.907 m. The long-term manufacturing orders with
credit balance amounted to EUR 4.243 m (as at September 30, 2004: EUR 2.501
m). This also reflects the degree of preliminary work advance payments by the
Company on projects begun in this financial year. Long-term financial
liabilities primarily increased as a result of the borrowing of the borrower’s
note loan in March of this year from EUR 1.839 m to EUR 8.765 m.
The shareholders’ equity in the Group is currently EUR 21.884 (as at September
30, 2004: EUR 21.958 m). The equity ratio is therefore 46.5 % (as at
September 30, 2004: 52.9 %). Cash and cash equivalents declined to EUR 5.075
million (as at September 30, 2004: EUR 10.216 m). As at June 30, 2005, the
Group employed a total 432 staff (PY: 389).
Group management is forecasting that business will develop positively in the
last quarter of the financial year 2004/2005. It is currently assuming that
the ongoing recovery in the core business of Analytik Jena AG will also
continue in the final quarter. The integration of the latest equity holding in
AJ Roboscreen GmbH is also progressing well. Here, the first contract to
supply a BSE kit developed in-house worth around EUR 0.500 m has just been
concluded. The first delivery will take place in October 2005.
The operative focus of management is on measures to improve the business
situation of the equity holding companies and create the conditions required
to implement the forthcoming major orders in project business.
Overall, the Group is forecasting a return to profit in operating business in
the final quarter, and is therefore currently assuming EBIT of around EUR
0.500 m.
Analytik Jena company profil
Analytik Jena AG develops, produces and markets state-of-the-art analytical
measuring technology and is acknowledged worldwide as a partner for investment
projects in science and industry. Analytik Jena has established itself as
supplier of high-tech analytical systems, as well as a provider of
comprehensive engineering services in the planning and implementation of
clinics or laboratories. The company’s portfolio also includes highly
efficient customised software solutions (LIMS) designed to manage the
substantial quantities of data that arise in laboratories. Established in
1990, Analytik Jena AG has developed a strong customer base that includes
highly renowned companies operating in the pharmaceutical, biotechnology and
environmental sectors, as well as universities and research institutes in more
than 70 countries.
Contact: Analytik Jena AG | Thomas Fritsche | Investor Relations |
Konrad Zuse Str. 1 | D- 07745 Jena | Germany | Voice: +49 (0)3641 / 77 –
92 81 | Fax: +49 (0)3641 / 77 – 99 88 | Mobil: +49 (0)176 / 1 7777 005 |
E-mail: t.fritsche@analytik-jena.de | Internet: http://www.analytik-
jena.de
End of announcement (c)DGAP 05.08.2005
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WKN: 521350; ISIN: DE0005213508; Index:
Listed: Geregelter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin-
Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart
050735 Aug 05
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