H1-results: EBITDA +20% and very successful Trauma sales growth of 68%
(Thomson Reuters ONE) -
aap Implantate AG /
H1-results: EBITDA +20% and very successful Trauma sales growth of 68%
. Ad hoc announcement according to § 15 WpHG. Processed and transmitted by Thomson Reuters ONE.
The issuer is solely responsible for the content of this announcement.
aap Implantate AG (XETRA: AAQ.DE) achieved sales growth to EUR 19.6 million in
the first half of 2013 (previous year: EUR 18.9 million) with EBITDA at EUR 4.2
million (previous year: EUR 3.5 million), which was a 20% increase on the
previous year. Group EBIT was EUR 2.6 million (previous year: EUR 2.0 million).
The aggregated effects of the ongoing focus strategy implementation are best
indicated by the Cash-EBT performance indicator (EBT excluding capitalised
development work and depreciation thereof). Cash-EBT was more than twice the
previous year's figure.
+----------------+---------+---------+----------------+
| In EUR million | H1/2013 | H1/2012 | Change on year |
+----------------+---------+---------+----------------+
| Sales | 19.6 | 18.9 | 4% |
+----------------+---------+---------+----------------+
| EBITDA | 4.2 | 3.5 | 20% |
+----------------+---------+---------+----------------+
| EBIT | 2.6 | 2.0 | 34% |
+----------------+---------+---------+----------------+
| Cash-EBITDA | 3.2 | 2.1 | 50% |
+----------------+---------+---------+----------------+
| Cash-EBIT | 2.3 | 1.2 | 86% |
+----------------+---------+---------+----------------+
| Cash-EBT | 2.2 | 0.9 | >100% |
+----------------+---------+---------+----------------+
Second quarter sales 2013 rose slightly to EUR 9.2 million (previous year: EUR
9.0 million). EBITDA fell to EUR 1.1 million (previous year: EUR 1.4 million,
due to the temporary decline in Biomaterials sales.
+----------------+---------+---------+----------------+
| In EUR million | Q2/2013 | Q2/2012 | Change on year |
+----------------+---------+---------+----------------+
| Sales | 9.2 | 9.0 | 3% |
+----------------+---------+---------+----------------+
| EBITDA | 1.1 | 1.4 | -22% |
+----------------+---------+---------+----------------+
| EBIT | 0.3 | 0.7 | -49% |
+----------------+---------+---------+----------------+
| Cash-EBITDA | 0.7 | 0.6 | 3% |
+----------------+---------+---------+----------------+
| Cash-EBIT | 0.2 | 0.2 | 15% |
+----------------+---------+---------+----------------+
| Cash-EBT | 0.2 | 0.04 | >100% |
+----------------+---------+---------+----------------+
In the second quarter of 2013 we made progress in several areas that reflect our
ongoing focus strategy:
- Trauma sales growth to EUR 2.8 million (+155%; previous year: EUR
1.1 million) and to EUR 4.2 million in the first six month (+68%; previous year:
EUR 2.5 million)
- Continued focus through sale of 2/3 of the shares in aap Joints GmbH,
which holds the Recon-product line (hip, knee and shoulder) for EUR 3.0 million
* Operational cash flow EUR 4.1 million in the second quarter (previous year:
EUR 3.6 million)
- Reduction in net debt (interest-bearing) by EUR 5.8 million since
march 2013 from EUR +5.6 million to EUR -0.2 million
* Improvement in the working capital ratio from 1.8 (31.03.2013) to 2.6
* Decrease of intangible assets by EUR 3.0 million in the balance sheet
results in a percentage reduction (as of the balance sheet total) from 57%
(31.12.2012) to 55%
Sales growth in the second quarter of 2013 was achieved mainly in Trauma. OEM
sales of bone cement and cementing techniques were slightly down in the second
quarter, but that was offset by the strong growth in LOQTEQ® sales and sales of
other biomaterials.
Outlook for 2013
Our focus for the remainder of the year will be largely on the Trauma sector,
and especially on the LOQTEQ® family of products. The slightly negative effect
on sales of the sale of aap Joints GmbH might be partly offset by further growth
in sales of other product lines. We expect bone cement deliveries to OEMs to
improve in the second half of 2013, although full recovery may in part be
delayed until the fourth quarter.
For the full financial year 2013 the Company thus reaffirms its sales growth
forecast of around 10% to EUR 40 million (previous year: EUR 36.4 million) and
its EBITDA growth forecast of 15% to EUR 7.0 million.
The forecast for the third quarter 2013:
- Sales: EUR 8.6 to 9.0 million (previous year: EUR 8.6 million)
* EBITDA: EUR 0.5 to 0.8 million (previous year: EUR 1.2 million)
To further accelerate the transformation of aap Implantate AG into an
international Trauma-company, aap currently evaluates the role of EMCM as part
of the business portfolio.
aap Implantate AG's full second quarter 2013 report is available for you to
download at www.aap.de.
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 Implantate AG (ISIN DE0005066609)
- Prime Standard/Regulated Market - All German stock markets -
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, m.heydrich(at)aap.de
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: aap Implantate AG via Thomson Reuters ONE
[HUG#1722866]
Unternehmensinformation / Kurzprofil:
Datum: 14.08.2013 - 09:05 Uhr
Sprache: Deutsch
News-ID 287529
Anzahl Zeichen: 8536
contact information:
Town:
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Kategorie:
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