aap Implantate AG /
Strong international growth in Trauma/LOQTEQ® product sales in H1 2013
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aap Implantate AG (XETRA: AAQ.DE) reports, on the basis of preliminary figures, sales growth to EUR 19.5 million (previous year: EUR 18.9 million) in the first half of the financial year 2013. Second quarter sales rose by 2% to EUR 9.2 million. Temporarily lower OEM sales of bone cements could be compensated by strong growth of LOQTEQ® sales and in its slipstream the sales of the other Trauma portfolio showed attractive growth.
Total Trauma/LOQTEQ® Sales increased during the first half of 2013 by 75% to EUR 4.2 million, compared with EUR 2.4 million in the first half of 2012. During the second quarter among other events a new Russian customer for the Total Trauma portfolio was appointed as distributor with immediate supply. This achievement represents another step in realizing the goal to appoint next to distributors in the USA and EU also distributors in at least 7 of the 9 BRICS and MIST countries before year end (now 5).
The figures for both financial years include revenue from the conclusion of license and supply agreements, a license agreement that was signed in March 2012 having exerted a material influence (+EUR 2.2 million) on the sales total. The two development and supply agreements signed in March 2013 have a combined sales effect of EUR 3.1 million. We anticipate EBITDA growth of around 17% in the first half of 2013. Second quarter EBITDA was lower than in the previous year as already reported because Biomaterials sales were down slightly.
| || 2013|
(in EUR million)
(in EUR million)
| Change on year |
| Sales || || || |
| Q1 || 10.4 || 9.9 || 5% |
| Q2e* || 9.2 || 9.0 || 2% |
| H1e* || 19.5 || 18.9 || 3% |
| EBITDA || || || |
| Q1 || 3.1 || 2.1 || 48% |
| Q2e* || 1.0 || 1.4 || -29% |
| H1e* || 4.1 || 3.5 || 17% |
* Estimated figure for the period in question in 2013
As a result of the ongoing implementation of our focus strategy on Trauma and Biomaterials the company announced by the end of the second quarter the closing of joint venture agreement for the non core Recon portfolio for a consideration of EUR 3 million in cash. In this joint venture aap is the junior partner with 33% of the shares.
aap Implantate AG will update its guidance for the third quarter and the full year 2013 to include the impact of the joint venture in conjunction with the publication of the report for the second quarter on August 14, 2013.
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 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, email@example.com
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Source: aap Implantate AG via Thomson Reuters ONE
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aap Implantate AG
Lorenzweg 5 Berlin Germany
WKN: 506660;ISIN: DE0005066609;
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