DGAP-News

aap Implantate AG: Successful start in 2017 with sales and EBITDA increase - 30% sales growth in trauma in Q1/2017

DGAP-News: aap Implantate AG / Key word(s): Quarter Results/Quarterly / Interim Statement aap Implantate AG: Successful start in 2017 with sales and EBITDA increase - 30% sales growth in trauma in Q1/2017 15.05.2017 / 16:11 The issuer is solely responsible for the content of this announcement. aap Implantate AG ("aap") made a successful start in financial year 2017 as a pure player in trauma with sales and EBITDA growth and achieving its financial targets for the first quarter of 2017. The company increased trauma sales in the first quarter of 2017 by 30% compared to the corresponding period in the previous year to EUR 2.9 million (Q1/2016: EUR 2.2 million). Overall, total sales in the first three months of the current year were up by 23% year on year to EUR 3.1 million (Q1/2016: EUR 2.5 million), and thereby slightly above the February forecast of EUR 1.8 million to EUR 2.8 million. EBITDA also increased by 23% in the reporting period compared to the first three months of 2016 to EUR -1.7 million (Q1/2016: EUR -2.2 million) and was thus at the upper end of the guidance, which was between EUR -2.3 million and EUR -1.7 million. Q1/2017 - Key results and progress - Sales and earnings: Sales increased to EUR 3.1 million (Q1/2016: EUR 2.5 million) and EBITDA to EUR -1.7 million (Q1/2016: EUR -2.2 million); recurring EBITDA at EUR -1.2 million (Q1/2016: EUR -2.0 million) - Gross margin and costs: First positive effects in increasing gross margin through focussing on trauma and growing sales share in established markets; perceptible reduction in personnel and other costs inter alia as a result of personnel measures undertaken in 2016 - Cash flow and balance sheet: Cash need in Q1/2017 totalled EUR 1.1 million with positive effects from working capital reduction; liquidity position of EUR 27.4 million[1] and a further high equity ratio of 86% - Focus on established markets: Share of sales attributable to North America and Europe together increased by 16% to EUR 2.1 million (Q1/2016: EUR 1.8 million); conclusion of a distribution agreement for the LOQTEQ(R) Radius System with a worldwide leading US medical technology company