Analytik Jena Increases Consolidated Sales to EUR 58 m

27-Aug-2003

In the first three quarters, Analytik Jena AG (ISIN: DE 0005213508) increased accumulated consolidated sales by 16.4% over the comparable period last year to EUR 58.6 m (previous year: EUR 50.4 m). The largest proportion of sales, 66.5%, was generated in the project solutions business unit. Here, Analytik Jena posted sales of EUR 39.0 m in the first three quarters (previous year: EUR 29.2 m). In other words, sales in this business unit increased by 33.5% in the period under review. In the analytical solutions unit, the company generated sales of EUR 13.2 m in the first nine months of the current financial year (previous year: EUR 14.9 m). The decline of 11.4% in sales compared with the same period last year reflects the general economic situation. In the bioanalytical solutions business unit, the company increased its sales by 8.9% to EUR 3.2 m in the quarter under review. The level of orders on hand in the group remained very high at EUR 106.0 m.

International Sales Grow Strongly

International sales contributed a total of EUR 34.1 m to consolidated sales (previous year: EUR 16.2 m) in the first nine months of the current financial year. Europe, currently Analytik Jena's biggest market, accounted for EUR 27.0 m of these (previous year: EUR 10.6 m). This represents an increase of 155.0% compared with the same period last year. This growth in European sales results primarily from income earned by AJZ Engineering with large-scale projects in Russia. In Asia, Analytik Jena generated sales of EUR 3.6 m in the period under review (previous year: EUR 3.7 m). This slight decline of 3.8% in sales can be attributed to the more difficult trading conditions that resulted from the lung disease SARS and the weaker US dollar. On the US market, the group increased its earnings slightly by 10.3% to EUR 1.5 m (previous year: EUR 1.4 m) in the first three quarters, despite the Iraq crisis and the prevailing reluctance of US consumers to buy from German manufacturers. All in all, Analytik Jena can report substantial growth in its export activities. The export ratio was increased from 32.1% in the previous year to 58.2%. The substantial decline of EUR 9.7 m in domestic sales to EUR 24.5 m results from the well-known investment barriers and cost saving programs of many public sector institutions and private companies in Germany.

Earnings Improved in Current Financial Year

Gross earnings in the group increased marginally by 5.6% to EUR 5.0 m (previous year: EUR 4.7 m). Due to the high proportion of sales accounted for by project activities, the average gross margin declined slightly; by the end of the period under review it amounted to 25.9% in the group (previous year: 29.6%). Analytik Jena managed to stabilize its positive mid-year trend; as planned, it generated EBIT of EUR 0.6 m in the first nine months of the financial year 2002/2003 (previous year: EUR 1.1 m). Net income for the period amounted to EUR 0.1 m as of the balance sheet date (previous year: EUR 0.4 m). Undiluted and diluted earnings per share currently amount to EUR 0.03 (previous year: EUR 0.11). Cash and cash equivalents amounted to EUR 1.6 m at the end of the period under review (September 30, 2002: EUR 4.8 m). This decline was largely the result of project activities.

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