DGAP-Adhoc: Alphaform AG: First quarter 2013: Alphaform with cautious start

Alphaform AG / Key word(s): Quarter Results

08.05.2013 11:05

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Ad hoc Announcement

First Quarter 2013:
Alphaform with cautious start

Revenue slightly reduces by 2.8% to EUR 6.6 million compared to the same
quarter in the previous year
Operating result at EUR -0.04 million balanced
Business forecast for the complete year is confirmed

Feldkirchen, 8th May 2013 - Alphaform AG, a specialist in additive
manufacturing and leading company in the production of orthopaedic implants
and instruments, announces for the first quarter of 2013 a group revenue of
EUR 6.6 million, reduced by around EUR 0.2 million compared to EUR 6.8
million in the same period of the previous year. This represents a decrease
of 2.8%, which is particularly due to a restrained market development in
the European automotive industry. Earnings before taxes (operating result)
was balanced at EUR -0.04 million. In the first quarter of the previous
year operating results were at EUR 0.15 million. EBITDA (results before
interest, taxes and deductions) reduced in the first quarter of 2013 to EUR
0.3 million (1st quarter of 2012: EUR 0.5 million).

The cash flow from operating activities in the Alphaform group declined in
the first quarter of 2013 to EUR -0.3 million. The main reason for this is
the merely balanced operating result. Compared to the first quarter of the
previous year, the gross profit margin reduced by 4.8 percentage points to
67.6% (1st quarter of 2012: 72.4%). Over the first three months of 2013,
the Alphaform share showed a loss of EUR -0.01 per share compared to EUR
0.03 in the first quarter of 2012.

Positive development in Prototyping, meantime customer retention in Rapid
Tooling

The main reason for the decline of revenue and profitability at Alphaform
in the first quarter was mainly due to a weak orders income in the business
sector rapid tooling during the final quarter of the previous year. This
situation still lasted up to February, but it has been considerably
recovering since then. Incoming orders in the first quarter of 2013 are
again up by 35% compared to the previous quarter, and by 25% over the
comparison value of the previous year. However, the improvement will be
financially noticed just in the second quarter. In prototyping business,
revenues climbed by 6.9% to EUR 4.2 million during the reporting period,
compared to EUR 4.0 million in the same quarter of the previous year. In
the first quarter we enhanced our capacities in this sector with industrial
3D-printers and we also plan a further increase in capacities for the next
quarters.

Bundling of medical technology in the Alphaform 'Medical Division'

At EUR 1.9 million the subsidiary MediMet generated less revenues in the
first three months of the year 2013, compared to the quarter of the
previous year: EUR 2.2 million. The reduction of 12.1% is first due to a
higher comparison reference: In the same period of the previous year,
retail sales, which have ceased since March 2012, were still invoiced.
Furthermore, the slowdown in economic dynamics on the demand of orthopaedic
implants also affects this area. In general, profit margin and earnings are
below expectations. In order to increase the operational performance and to
improve the customer offer, MediMet and Alphaform-Claho will be combined to
the 'Alphaform Medical Division' as of the 2nd quarter of 2013. In the
future, the medical division will be lead jointly by a technical and a
commercial MD and will offer an extensive medical technology portfolio to
the customers.

The new laser-sintering application centre in Eschenlohe reveals further
upside. In this sector, Alphaform positions itself as a pioneer for
additive manufacturing of titan and cobalt-chrome implants. This
3D-printing technology is meeting with great customer interest and it
should provide the first pulses in revenues even during the present
business year. The subsidiaries in the UK and Scandinavia still continue
developing positive in the first quarter of 2013.

Forecast for the business year 2013 is confirmed

For the business year 2013, the company is expecting a temporary slowdown
of the market dynamics. For the year 2013 Alphaform AG assumes a group
revenue between EUR 27 and EUR 29 million, provided that the economic
situation does not further deteriorate. Although in the first quarter a
just balanced result was reached, improvements in the business sectors
become apparent in the following months. Also during the present year the
company will continue focusing on improvement of productivity, cash flow
and profitability. Despite high efforts in the new growth areas
laser-sintering application centre in Eschenlohe and capacities increase in
the 3D-printing sector in the prototyping units, the Board strives for the
targeted result improvement to EUR0.8 million.

Key figures of the Alphaform Group

In million EUR 1st 1st Change
quarter quarter in %
2013 2012
Revenues 6.567 6.754 -2.8
EBITDA 0.348 0.546 -36.3
Operating result 0.053 0.219 -75.8
Earnings after taxes -0.036 0.152 -123.7
Earnings per share -0.01 EUR 0.03 EUR -133.3
Equity as at 31st of March 12.748 12.782 -0.3
Total assets as at 31st of March 21.248 21.385 -0.6
Free cash equivalents as at 31st of March 0.885 1.633 -45.8
(2012 as at 31st of Dec.)
Employees in the group as at 31st of March 231 230 0.4

Contact:
Dr. Thomas Vetter Tel.: +49 89 905002 0
CEO Fax: +49 89 905002 90
ALPHAFORM AG E-mail: tvetter@alphaform.de
Kapellenstraße 10 Internet: www.alphaform.de
85622 Feldkirchen

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Information and Explaination of the Issuer to this News:

About Alphaform

Alphaform AG, based in Feldkirchen near Munich and founded in 1996, is a
production company for complex components and products produced in small
batches. Alphaform belongs to the European market leaders in prototyping
and to the production of series closer prototypes, particularly for the
automotive and capital goods industries. The company has a leading position
throughout Europe in manufacturing orthopaedic implants and instruments.
The Alphaform share is listed in the Prime Standard Segment of the
Frankfurt Stock Exchange (FWB) under the abbreviation ATF.

The core competence of Alphaform lies in its extensive application know-how
for processes and materials for the additive production of complex
prototypes, tools, individual components and small series made of plastics
and metal. The company's activity is focused on the orthopaedic and medical
technology, automotive, aviation and aerospace industries. The subsidiaries
of Alphaform are located in Germany, Finland, Sweden and the UK.

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Language: English
Company: Alphaform AG
Kapellenstraße 10
85622 Feldkirchen
Germany
Phone: +49 (0)89 905002 - 0
Fax: +49 (0)89 905002 - 90
E-mail: ir@alphaform.de
Internet: www.alphaform.de
ISIN: DE0005487953
WKN: 548795
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Düsseldorf, Hamburg, München, Stuttgart

End of Announcement DGAP News-Service

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