Analytik Jena AG Presents Annual report 2001/2002

03-Jan-2003

Analytik Jena's sales revenue increased 54 % in fiscal year 2001/2 (to September 30) to EUR 64.3m. The company's gross earnings outpaced sales, rising 72 % to EUR 18.3m, and its gross margin rose 2.9 percentage points to 28.5 %.

Analytik Jena raised its distribution expenses 63 % to EUR 9.6m in a move to expand its international business, which is reflected in the company's successful development of its export activities. Exports rose 168 % to EUR 18.8m and its export share rose to 29 % (17 %). Research expenditure more than tripled over the fiscal year to EUR 3.9m. Adminstrative costs rose 172 % to EUR 4.4m solely as the result of the expansion of the company's investment portfolio.

Annual net income fell from EUR 1.4m last year to EUR -0.9m for an income per share of EUR -0.25 (EUR 0.41). The first loss in company history was primarily the result of its heavy investment in the future and one-off expenditures such as the now completed restructuring of the former "lab solutions" business area. The "lab planning" business area, part of the company's core business, was integrated into AJZ Engineering, while the "lab assembly" business area, with all 15 employees, was separated from the company as of September. Other measures were introduced by the company to reduce costs and to improve its margin, laying the foundation for a return to positive income figures.

The company's capital ratio increased to 56 %. Liquid funds dropped 24 % to EUR 4.8m primarily through the acquisition of investments in other companies. For the time being, no earnings forecast is available due to the measures that have been introduced to reduce costs and to improve the company's margin and in light of the difficult economic situation in Germany. Group sales are expected to increase to approx. EUR 80m on the basis of a long-term order backlog of EUR 93.7m.

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