Analytik Jena AG Announces Group Figures for Financial Year 2010/2011

Growth expected for financial year 2011/2012 with a quieter first quarter

19-12-2011: In the past financial year 2010/2011, the Analytik Jena AG was again able to increase its revenue significantly. Overall, the Group generated sales of EUR 86.3 m (previous year: EUR 80.2 m), a 7.6 % increase on the previous year. In the process, Analytik Jena again surpassed the record achieved in the previous year. Operating profit (EBIT) amounted to EUR 5.0 m (previous year: EUR 3.1 m), up 59.3 % year-on-year.

"After the previous financial year was basically characterized by one-time effects, we succeeded in growing our operating result again." commented Klaus Berka, CEO of Analytik Jena AG. "We could again increase in sales and exceed the record level of sales we set last year. We achieved this due to the outstanding development in our largest business area, Analytical Instrumentation that managed to grow its revenue by 11.3 % last year based on its traditionally strong export operations."

Revenue Development and Segments

From a strong competitive position in the optical spectroscopy sector, the Analytical Instrumentation business unit was again able to win market share in the reporting period and increase its revenue. Analytik Jena closed the financial year in this segment with revenue of EUR 53.2 m (previous year: EUR 47.8 m), representing a gain of 11.3 %. Life Science business unit recorded sales of EUR 28.3 m (previous year: EUR 27.5 m), 2.7 % higher than in the previous year. The Optics segment was able to halt a three-year downward slide caused by economic conditions, nearly matching the previous year's level. Revenue in financial year 2010/2011 totaled EUR 4.8 m (previous year: EUR 4.9 m). That equates to a slight decrease of 1.1 %.

Financial Position and Results of Operations

The Group ended the full financial year of 2010/2011 with earnings before interest, taxes, depreciation, and amortization (EBITDA) of EUR 8.8 m (previous year: EUR 6.7 m) and operating profit of EUR 5.0 m (previous year: EUR 3.1 m). In the process, Analytik Jena recorded increases in EBITDA of 31.0 % and EBIT of 59.3 %. Once again, the Company achieved a double-digit EBITDA margin of 10.2 % (previous year: 8.4 %). The EBIT margin was 5.8 % compared with 3.9 % in the previous year. Therefore, Analytik Jena performed much better on an operating basis than in the previous year.

The Group's tax expense totaled EUR 2.6 m (previous year: EUR 1.1 m). Of this amount, EUR 0.8 m accrues to current actual tax expense and deferred tax income. This corresponds to a tax rate of 27.6 %. In addition, tax expense of EUR 1.8 m includes non-period tax expense resulting from the agreement with the Gera tax office in financial year 2010/2011. The consolidated net profit for the year fell compared with the amount for the previous year by 90.7 % and totaled EUR 0.2 m (previous year: EUR 2.1 m). For the shareholders of Analytik Jena AG both basic and diluted earnings per share amounted to EUR -0.03 (previous year: EUR 0.34).

The Group's total assets as of the balance sheet date on September 30, 2011 remained similar to the previous year's level and amounted to EUR 83.6 m.

Human Resources

As of September 30, 2011, the Group had a total of 802 employees, including 38 interns (previous year: 796 employees, including 49 interns), or 0.8 % more than as of the previous balance sheet date.

Outlook

With respect to the financial year 2011/2012, Analytik Jena expects that it will be able to achieve further increases in revenue and earnings in all three business units. The Company expects that revenue will be distributed relatively evenly over the quarters and that no major disruptions will be caused by large projects.

"The Company plans further investments in the expansion of the Thuringian manufacturing site in Langewiesen amounting to about EUR 0.7 and remains clearly committed to the manufacturing site Germany. Further important milestones are the market launch of some product innovations that are meant to contribute to the stable growth of the segments. We especially expect good impetus for the expansion of our business from the prestigious international trade fairs IWA in Nuremberg at the beginning of March concerning Optics and the 'analytica' in April in Munich concerning both segments Analytical Instrumentation and Life Science." Berka added.

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