Analytik Jena After Nine Months with Growth in Operating Business
With sales growth of almost 7.0 % and an increase of nearly 6.0 % in operating earnings, Analytik Jena is now entering the final straight of the 2010/2011 financial year. After nine months the Group generated sales of EUR 63.6 m and operating income of EUR 3.4 m. This was announced by the manufacturer of analytical measuring technology, life science instruments and optoelectronics at the presentation of the quarterly and the 9-months-figures in Jena.
Sales Development and Segments
The Group’s growing positioning on global markets is reflected in the rise in international sales in the reporting period. In total, goods were exported for EUR 45.0 m (previous year: EUR 38.9 m). This corresponds to well over two thirds of total sales or an export rate of 70.6 % as against 65.3 % in the the previous year.
The core segment of Analytical Instrumentation again benefited from its strong market positioning in Asia and increased its sales as forecast. The division generated sales of EUR 40.1 m (previous year: EUR 35.9 m) or a sales increase of 11.9 %. In the Life Science segment the Group generated sales of EUR 20.0 m (previous year: EUR 20.3 m) and 1.5 % less income than in the same period of the previous year. This development is primarily due to the fact that the sales forecast were postponed to the fourth quarter of 2010/2011. The Optics division contributed EUR 3.5 m (previous year: EUR 3.4 m) to total consolidated sales after nine months.
Earnings
Up 5.9 % year-on-year, the Group’s operating earnings development was solid. EBIT therefore amounted to EUR 3.4 m after the first nine months (previous year: EUR 3.2 m) with an EBIT margin of 5.4 %. EBITDA rose by 6.4 % to EUR 6.2 m (previous year: EUR 5.9 m). After the financial result had benefited from the favorable currency situation for Analytik Jena in the wake of rising financial income in the previous year, developments in foreign currencies, particularly the Japanese yen and the USD, had a negative effect this year due to higher financial expenses combined with lower financial income as against the same period of the previous year. Furthermore, earnings were significantly influenced by the measurement of derivatives compared to the previous year.
In the reporting period, Analytik Jena achieved a total net profit of EUR 0.6 m (previous year: EUR 2.5 m), 76.9 % less than in the previous year. This is equal to earnings per share of EUR 0.09 (previous year: EUR 0.47).
Changes in Statement of Financial Position
The Group’s total assets fell slightly by 3.2 % from EUR 83.6 m (September 30, 2010) to EUR 80.9 m as of June 30, 2011. In the reporting period, Analytik Jena reported equity of EUR 39.6 m (September 30, 2010: EUR 39.0 m). This corresponds to an equity ratio of 48.9 % (September 30, 2010: 46.7 %).
The Group’s cash and cash equivalents amounted to EUR 3.4 m as of the end of the reporting period.
Human Resources
As of June 30, 2011, the Group employed 803 staff, including 36 trainees (previous year: 780 employees, including 44 trainees).
Outlook
Analytik Jena AG is retaining its forecasts for the 2010/2011 financial year and, in particular, is anticipating an increase in earnings in the fourth quarter, bringing it to its stated target for the year as a whole. The end of the financial year will be considerably influenced by the business recovery in Japan. All signals indicate that Analytik Jena on the basis of good incoming orders can significantly increase its sales as well. In the core business of Analytical Instrumentation the Company assumes a stable sales development. Specifically in the Life Science segment, the Company is forecasting a sound sales increase in the fourth quarter. The Optics consumer division will continue to recover until the end of the period.
"In light of the good sales and earnings development in the third quarter and on the basis of the continuing good incoming orders, we are assuming of achieving our demanding operating earnings target of EUR 4.5 m as of September 30, 2011", says Klaus Berka, CEO of Analytik Jena AG. "The biggest present risk for the Company is in currency effects. Regardless of this, we are predicting that the Company will enjoy a stable, positive performance overall in its last and, traditionally, strongest quarter. We are retaining our forecasts for the financial year."
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