30-Aug-2002 - Analytik Jena GmbH

Analytik Jena AG more than doubles revenue in first nine months of fiscal year

Jena, August 29, 2002 - Analytik Jena AG, provider of analytical and bioanalytical measuring systems and complex laboratory projects, has more than doubled its sales to 50.39 million EUR in the first nine months of fiscal year 2001/2002 compared to the same period during the previous year (23.44 million EUR). In the core business unit analytical solutions, Analytik Jena increased sales by 82.0% to 14.90 million EUR compared to the same period during the previous year (8.19 million EUR). This growth can be attributed to significant sales increases outside Germany as well as the successful integration of subsidiaries. Atomic absorption spectrometers were again the main source of sales in the analytical solutions business unit.

The bioanalytical solutions business unit doubled its revenue during the first three quarters from 1.49 million EUR in the previous year to 3.0 million EUR. The SPECORD® product line and the FLASHScan® reader systems introduced last year contributed to this increase in sales. The satisfying sales developments in the analytical solutions and bioanalytical business units are the result above all of intensified instrument sales following the PITTCON Global Technical Conference and Exposition in the US and the ANALYTIKA trade fair in Munich, particularly the new products introduced there, as well as of intensified international marketing activities. Analytik Jena's subsidiary AJ Blomesystem in Engelskirchen also contributed significantly to revenue growth with its software products for laboratory information and management systems (LIMS). In the project solutions area, the company achieved sales of 29.23 million EUR (previous year: 11.14 million EUR). This increase in sales of 162.4% is primarily a result of large projects in Russia and Brazil.

In the domestic market, Analytik Jena realized 34.21 million EUR (previous year: 19.34 million EUR), once again the largest share of total sales. The company succeeded in boosting sales in Germany by 76.8% in the past nine months, a result of nearly equal increases in all three business units. International business expanded to represent approximately one-third of group sales in the first nine months of the year (previous year: 17.5%). Gross profit for the group increased by 81.2% to 14.61 million EUR compared to the previous year. Analytik Jena has increased marketing expenditures by 96.8% to 7.59 million EUR (previous year: 3.86 million EUR) to support the continued growth of international business.

Net expenditures for research and development grew by over 200% to 3.0 million EUR (previous year: 0,98 million EUR) in the past nine months. This increase in costs is primarily due to the founding of the research and development company AJ Überlingen at the beginning of the year. Marketing and development costs grew as expected and are reflected in operating profit before interest and taxes (EBIT). These costs reached approximately 1.05 million EUR for the nine-month period (previous year: 1.27 million EUR) and developed according to expectations. The interest balance for the reporting period is slightly negative at 0,24 million EUR due to the prefinancing and safeguarding of credits on large orders in the project solutions area. With an average per-capital tax load of approximately 42%, net profit is 0,39 million EUR (previous year: 0,88 million EUR), representing earnings per share of 0.11 EUR (previous year: 0.25 EUR). Total assets increased to 75.21 million EUR (50.02 million EUR as of Sept. 30, 2001), and the equity ration at the end of the period was 43,2% (55.3% on Sept. 30, 2001). With cash and cash equivalents in the amount of 14.41 million EUR (6.36 million EUR as of Sept. 30, 2001), Analytik Jena has very good latitude for financing.

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