Q1 Sales EUR 5.7 Million, Management Team Enlarged
(Thomson Reuters ONE) -
aap Implantate AG / Q1 Sales EUR 5.7 Million, Management Team Enlarged processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.
aap Implantate AG, a medical technology company listed in the Prime Standard
segment of the Frankfurt Stock Exchange, achieved in the first quarter of the
fiscal year 2010 - according to preliminary figures - sales at product level of
EUR 5.7 million. Disregarding project sales, sales in the Analytics division
that was sold in December 2009, and other one-time factors totaling EUR 2.4
million, comparable product sales in the first quarter of 2009 were EUR 5.9
million. That leaves Q1 2010 sales EUR 0.2 million, or 3 percent, down on Q1
2009.
For the first half of 2010 the Management Board anticipates double-digit sales
growth at product level, compared with adjusted H1 2009 sales revenue amounting
to EUR 11.5 million. This sales forecast is based in part on launches of new
products such as Allografts as well as increasing sales of existing products
such as Bone Cements and Adcon®. The Management Board is convinced that aap will
achieve its 2010 sales growth target at product level of around 15 percent to a
full year's total of approximately EUR 30 million. aap is well on its way toward
achieving the targets of its Management Agenda 2010.
As of April 1, 2010, aap has strengthened its first- and second-level management
team as planned. The Management Board membership has been extended from two to
three with the appointment of Marek Hahn as Chief Financial Officer. Dr. Daniel
Zukowski as Corporate Director Research & Development is in charge of all R&D
activities across the Group. In this role he will, inter alia, take over the
responsibilities of Dr. Elvira Dingeldein, who headed the R&D-department of aap
Biomaterials for many years. Dr. Dingeldein will continue to be at aap's
disposal in the future and support the Company with her comprehensive
competence.
The objective of strengthening the management team is to speed up the
implementation of aap´s strategic goals set for 2010 and to further secure its
corporate growth.
Along with the strengthening of the management team, aap is making progress on
simplifying its group structure, inter alia by merging two sites. In addition,
aap is currently evaluating further corporate law actions.
Interest in aap's R&D partner program continues to be strong, so we can
therefore reaffirm our plan to conclude two semi-exclusive license agreements in
2010.
aap also anticipates a further improvement in its financial position in the
course of the year as a result of negotiations already concluded and still under
way. aap has, for example, been able to reduce the financing costs for various
financial liabilities and to accomplish a further reduction of fixed costs. aap
believes that with this related improvement of the company's rating, additional
savings of financing costs for financial liabilities will be achieved shortly.
aap plans to publish its Q1/2010 results in full on May 12, 2010.
_________________
aap is a medical technology company that develops, manufactures and markets
biomaterials and implants for trauma and orthopaedics. Its product portfolio
includes bone cements, bone graft substitutes, antibiotic carriers, and implants
for fracture healing and joint replacement. In addition to its Berlin HQ the
Company has sites in Dieburg and Obernburg near Frankfurt am Main and Nijmegen
in the Netherlands. aap Implantate AG stock has been listed in the Prime
Standard segment of the Frankfurt Stock Exchange since May 16, 2003.
For inquiries please contact:
aap Implantate AG, Nanette Huedepohl, Head of Corporate Communications,
Lorenzweg 5, 12099 Berlin, Germany, Tel.: +49 30 7501 9133, fax: +49
30 7501 9290, n.huedepohl(at)aap.de
For more details please visit www.aap.de and www.aap-bioimplants.com
[HUG#1404224]
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aap Implantate AG
Lorenzweg 5 Berlin Germany
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Datum: 15.04.2010 - 16:16 Uhr
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