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aap reports Q1 results with strong influence on full year: 48% EBITDA growth, 5% sales growth


May 15, 2013 - London

aap Implantate AG /aap reports Q1 results with strong influence on full year: 48% EBITDA growth, 5% sales growth . Processed and transmitted by Thomson Reuters ONE.The issuer is solely responsible for the content of this announcement.

aap Implantate AG reports EUR 10.4 million (previous year: EUR 9.9 million) in sales in the first three months of the financial year 2013, which amounts to year-on-year sales growth of 5%. EBITDA increased by 48% to EUR 3.1 million.

In EUR million Q1/2013 Q1/2012 Change on yr
Sales (total) 10.4 9.9 5%
Sales (product) 7.3 7.7 -5%
EBITDA 3.1 2.1 48%
EBIT 2.3 1.3 75%

In the first quarter of 2013 we reached several milestones that reflect our continued focus:
·       A strong sales increase in the Trauma segment of 15% to EUR 1.5 million
·       A reduction in intangible assets as a proportion of the balance sheet total from 58% to 53%
·       The conclusion of a multi-year development and supply agreement for one of our products in the Biomaterials segment
·       Repayment of all outstanding shareholder loans and thereby an almost total reduction of interest-bearing net debt in mid-April 2013
·       Continued progress in the R&D pipeline (FDA-approval for two bone cements, approval to start animal testing with silver coated trauma products, development of additional six LOQTEQ® plates)
·       Further measures to drive focus and thus to improve growth and profitability (e.g. the conclusion of a global licensing agreement for the non-core product Adcon®)

Outlook for 2013

For the financial year 2013 the company reaffirms its sales growth forecast of around 10% to EUR 40 million (previous year: EUR 36.4 million) and its EBITDA growth forecast of at least 15% to over EUR 7.0 million (previous year: EUR 6.1 million).

The forecast for the second quarter of 2013 is:
-        Sales: approx. EUR 8.8 million (previous year: EUR 8.9 million)
-        EBITDA: approx. EUR 0.8 million (previous year: EUR 1.4 million)

The forecast for the first half year is therefore:

  • Sales: approx. EUR 19.2 million (previous year: EUR 18.9 million)
  • EBITDA: approx. EUR 3.9 million (previous year: EUR 3.5 million)

Implantate AG's full report for the first quarter of 2013 is available for you to download at www.aap.de.

This release contains forward-looking statements based on current experience, estimates and projections of the management board and currently available information. They are not guarantees of future performance. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. Many factors could cause the actual results, performance or achievements of aap to be materially different from those that may be expressed or implied by such statements. These factors include those discussed in aap's public reports. Forward-looking statements therefore speak only as of the date they are made. aap does not assume any obligation to update the forward-looking statements contained in this release or to conform them to future events or developments.

______________________________________________________
aap Implantate AG (ISIN DE0005066609)
- Prime Standard/Regulated Market - All German stock markets -

aap is a global medical device company headquartered in Berlin, Germany that develops, manufactures and markets innovative biomaterials and implants that are used in orthopedic procedures. The Company's products, which include a full line of plating systems, cannulated screws and bone cement products, are primarily used in the orthopedic specialty areas of trauma and spine repair. The Company's products are sold through its direct sales force, distribution partners and license agreements with OEM partners. aap's stock is listed in the Prime Standard segment of the Frankfurt Stock Exchange. For more information, please visit www.aap.de, or download the Company's investor relations app from the Apple's App Store or Google Play.

For inquiries please contact:
aap Implantate AG, Marc Heydrich, Investor Relations, Lorenzweg 5, 12099 Berlin, Germany
Tel.: +49 30 7501 9-134, fax: +49 30 7501 9-290, m.heydrich@aap.de

 

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Source: aap Implantate AG via Thomson Reuters ONE

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