aap

Sales in Q4/2015 at EUR 6.7 million and in FY/2015 at EUR 28.7 million

aap Implantate AG / aap: Sales in Q4/2015 at EUR 6.7 million and in FY/2015 at EUR 28.7 million . 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 6.7 million (Q4/2014: EUR 8.6 million) in the fourth quarter of 2015 according to preliminary figures. Sales in the full financial year 2015 totalled EUR 28.7 million (FY/2014: EUR 30.6 million) and were thus within the guidance of EUR 27.5 million to EUR 31.5 million announced in November 2015.

In EUR million	Q4/2015	Q4/2014	Change
Sales	6.7	8.6	-22%
Trauma	2.7	3.9	-31%
thereof LOQTEQ®	1.6	2.9	-45%
Biomaterials	3.7	3.7	0%
Projects	0.1	0.9	-90%
Other	0.2	0.1	>100%

 

In EUR million	FY/2015	FY/2014	Change
Sales	28.7	30.6	-6%
Trauma	11.0	12.2	-10%
thereof LOQTEQ®	6.8	8.2	-17%
Biomaterials	16.8	16.4	2%
Projects	0.3	1.2	-76%
Other	0.6	0.8	-20%

 

In the trauma business, aap Implantate AG realized sales of EUR 2.7 million (Q4/2014: EUR 3.9 million) in the fourth quarter of 2015. In the full year 2015 sales in the trauma business totalled EUR 11.0 million (FY/2014: EUR 12.2 million). The background to the decline in year-on-year trauma sales is, especially, the deteriorated economic framework conditions in several markets in the BRICS and SMIT states, which have been focal points of the company's growth strategy so far, and led to deviations from the sales development originally anticipated. At the same time the planned sales contribution from the US market has not yet materialised due to protracted administrative processes in hospitals.

 

The Management Board is confident the company will return to its growth path in the current financial year by means of the measures initiated, which are aimed primarily at intensifying sales activities in relatively more stable markets in Europe.  In addition, the US market is to become a mainstay of aap Implantate AG's growth strategy in 2016.

 

In the biomaterials business, aap Implantate AG generated sales of EUR 3.7 million in the fourth quarter of 2015 which were at the same level as in the previous year (Q4/2014: EUR 3.7 million). Overall, the biomaterials business registered again a satisfactory sales development in financial year 2015, with sales up slightly on the previous year to EUR 16.8 million (FY/2014: EUR 16.4 million). As part of the strategy to transform aap Implantate AG into a focussed trauma company the necessary steps for a divestment of aap Biomaterials GmbH have been initiated already in the previous financial year. The company has put in place a structured process to take this forward and will be reporting on its progress.

 

In the silver coating technology area, approval-relevant work went ahead on schedule in the fourth quarter of 2015. On the basis of the current state of development and subject to the results of current consultations with the approval authorities aap Implantate AG plans to submit the CE approval application for the silver coating technology by the end of January 2016.

 

The results contained in this press release are preliminary figures based on an initial analysis by the Management Board for the period ended on 31 December 2015 and are therefore subject to change. aap Implantate AG plans to publish the final, audited results for the financial year 2015 on 30 March 2016.

 

In a further press release at the beginning of February 2016 the company will provide information about the outlook for the first quarter of 2016 and the full financial year 2016.