EQS-Adhoc
Adjustment of the forecast for revenue and EBITDA for FY 2023; implementation of a personnel measure to achieve positive EBITDA and balanced cash flow in the operating trauma business
- Adjustment of forecast for revenue and EBITDA for FY 2023
- Implementation of personnel measures for positive EBITDA and balanced cash flow
- Sales and EBITDA expected to be lower due to contractual regulations and delays in approvals
EQS-Ad-hoc: aap Implantate AG / Key word(s): Change in Forecast/Restructure of Company |
The Management Board of aap Implantate AG ("aap" or "Company") adjusts the forecast for sales and EBITDA for the financial year 2023. In addition, the Management Board today
approved a package of measures for extensive staff reductions and further cost reductions.
The Management Board expects sales of EUR 11.2 million to EUR 11.8 million for the 2023 financial year, which is lower than the level of EUR 12.0 million to
EUR 14.0 million forecast in the half-year report. The reason for this is that, on the one hand, there is a need to correct sales due to new or adjusted contractual regulations and, on
the other hand, distributors are acting cautiously and, particularly in the last few months of the year, there were unexpected delays in the granting of approvals in several new international
markets in which aap already has contracts with distribution partners. Originally, the company had anticipated an increase in sales development in the second half of the year compared with
the first six months, particularly in the fourth quarter, from new customer business, which is now only materializing to a much lesser extent. These planned new sales will be postponed until the
2024 financial year.
The Executive Board also expects EBITDA of EUR -3.0 million to EUR -2.5 million for 2023, in contrast to the EBITDA forecast in the half-year report
(EUR -2.5 million to EUR -1.7 million). In addition to one-off expenses of up to EUR 0.4 million incurred as a result of personnel measures as part of the
restructuring, this is also due to lower sales.