aap

Q3/2015 sales with EUR 8.4 million (+7%) in line with expectations; strong quarter in Biomaterials business (+27%)

aap Implantate AG / aap: Q3/2015 sales with EUR 8.4 million (+7%) in line with expectations; strong quarter in Biomaterials business (+27%) . Processed and transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.

aap Implantate AG (XETRA: AAQ.DE) generated sales of EUR 8.4 million in the third quarter of 2015 (Q3/2014: EUR 7.8 million) according to preliminary figures, thereby achieving a result within the August forecast of EUR 7.5 million to EUR 9.0 million. Sales in the first nine months of the current financial year totalled EUR 22.0 million (9M/2014: EUR 22.1 million).

In EUR million	Q3/2015	Q3/2014	Change
Sales	8.4	7.8	7%
Trauma	2.9	3.3	-14%
thereof LOQTEQ®	1.5	2.4	-37%
Biomaterials	5.4	4.2	27%
Projects	0.0	0.1	-92%
Other	0.1	0.2	-30%

 

In EUR million	9M/2015	9M/2014	Change
Sales	22.0	22.1	0%
Trauma	8.5	8.4	1%
thereof LOQTEQ®	5.2	5.3	-2%
Biomaterials	13.0	12.7	2%
Projects	0.2	0.3	-25%
Other	0.3	0.7	-59%

 

In the trauma business aap Implantate AG reached sales of EUR 2.9 million (Q3/2014: EUR 3.3 million) in the third quarter of 2015. The background to this decline were various developments in our strategically important growth markets in the BRICS and SMIT countries which weighed perceptibly on demand. Crucial were in particular a significantly reduced willingness to invest in China as a consequence of the recent stock market crash and the devaluation of the Chinese currency, the continuing weak Rouble including the trade sanctions imposed against Russia as well as the increasing unfavourable development of the Euro/Turkish Lira exchange rate in connection with a reimbursement reduction already implemented at the beginning of the year. Furthermore the first shipments to Brazil which were planned for the third quarter could not be carried out due to delays in product approval.

 

Although customer interest in aap Implantate AG's trauma portfolio remains intact, the company was unable to escape these external developments entirely. Furthermore, the US market has yet to make a significant contribution toward sales due to in part protracted administrative processes.

 

In contrast sales in the biomaterials business rose by 27% year-on-year in the third quarter of the current financial year to EUR 5.4 million (Q3/2014: EUR 4.2 million). The growth driver in the third quarter of 2015 was in particular the bone cement business with global leading companies.

 

In the first nine months of 2015, aap Implantate AG's sales in the trauma business totalled EUR 8.5 million (9M/2014: EUR 8.4 million). In the biomaterials business sales totalled EUR 13.0 million (9M/2014: EUR 12.7 million) in the nine-month period 2015.

 

The preliminary results contained in this press release are based on management's initial analysis of operations for the period ended on 30 September 2015, and are therefore subject to change. aap Implantate AG plans to announce its final results for the third quarter respectively the first nine months of 2015 on 13 November 2015. 

About aap Implantate AG