aap: Good start in 2015 with sales and EBITDA increase; growth drivers in Q1 were LOQTEQ® (+ 45%) und Biomaterials (+ 23%)
(Thomson Reuters ONE) -
aap Implantate AG /
aap: Good start in 2015 with sales and EBITDA increase; growth drivers in Q1
were LOQTEQ® (+ 45%) und Biomaterials (+ 23%)
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The issuer is solely responsible for the content of this announcement.
aap Implantate AG (XETRA: AAQ.DE) had a successful start to the 2015 fiscal
year, showing growth in sales and EBITDA and achieving its financial targets.
The company increased its sales during the first quarter of the 2015 fiscal year
by 16% to EUR 7.1 million compared with the same period in the previous year
(Q1/2014: EUR 6.1 million). The EBITDA grew by 91% to EUR 0.2 million during the
reporting period in comparison to the first three months of 2014 (Q1/2014: EUR
0.1 million).
+-----------------+---------+---------+--------+
| | | | |
| in EUR million | Q1/2015 | Q1/2014 | Change |
+-----------------+---------+---------+--------+
| Trauma | 2.5 | 2.2 | 15% |
| | | | |
| thereof LOQTEQ® | 1.7 | 1.1 | 45% |
+-----------------+---------+---------+--------+
| Biomaterials | 4.4 | 3.6 | 23% |
+-----------------+---------+---------+--------+
| Projects | 0.1 | 0.1 | 109% |
+-----------------+---------+---------+--------+
| Other | 0.1 | 0.2 | -81% |
+-----------------+---------+---------+--------+
| Sales | 7.1 | 6.1 | 16% |
+-----------------+---------+---------+--------+
+-----------------+---------+---------+--------+
| | | | |
| in EUR million | Q1/2015 | Q1/2014 | Change |
+-----------------+---------+---------+--------+
| EBITDA | 0.2 | 0.1 | 91% |
+-----------------+---------+---------+--------+
| EBIT | -0.4 | -0.4 | -3% |
+-----------------+---------+---------+--------+
On a comparable basis (excluding one-time costs in connection with strategic
measures and project revenues and thus with associated costs in each case),
normalized sales in the first quarter of 2015 amounted to EUR 7.0 million
(Q1/2014: EUR 6.1 million) and normalized EBITDA to EUR 0.3 million (Q1/2014:
EUR 0.1 million).
The following highlights show the progress that aap Implantate AG achieved in
the first quarter of 2015 with regard to the implementation of the 2015
Management Agenda:
* Financial targets were achieved: sales amounting to EUR 7.1 million and
EBITDA of EUR 0.2 million exceed the guidance issued in February of EUR 6.5
million to EUR 7.0 million (sales) and
EUR -0.5 million to EUR 0.1 million (EBITDA)
* Growth drivers in sales revenues are LOQTEQ® with +45% to EUR 1.7 million
and the Biomaterials business with +23% to EUR 4.4 million
* LOQTEQ®: European key patent obtained for LOQTEQ® core technology; progress
in the expansion of LOQTEQ® product portfolio is on schedule
* US distribution: advanced discussions with various distributors and the
potential conclusion of a contract in Q2/2015 and initial sales in the
second half of 2015
* Silver coating technology: important European patent obtained for silver
coating as well as corresponding technology and coating apparatuses
* Biomaterials: various negotiations with globally active medtech companies
with regard to the ongoing targeted expansion of the bone cement business
Outlook for 2015
With regard to the development of the US market, aap Implantate AG's
negotiations with potential distribution partners for sales of its trauma
products are at an advanced stage. In the process the company is using a hybrid
distribution model: the products are to be sold locally through stocking
(distributor buys the products) and through non-stocking distributors (products
are placed with the distributor and payment is based on respective consumption).
aap Implantate AG is expecting first sales on the US market in the second half
of 2015. In addition, in the trauma business the market launch of the LOQTEQ®
fibula plate and the product launch of the new polyaxial LOQTEQ® radius plate
system are scheduled for the second quarter of 2015. In the silver coating
technology area, all approval-related work continues on schedule and the company
is aiming to submit the CE approval application for the first silver-coated
products in the second half of 2015. Immediately following the CE approval
application the FDA approval application will be submitted in a next step.
Furthermore, the Management Board confirms its sales and EBITDA forecast for
the full year of 2015. The company continues to anticipate sales between EUR 33
million and EUR 35 million and an EBITDA between EUR 2.5 million and EUR 3.5
million.
For the second quarter of 2015, aap Implantate AG is expecting sales to range
between EUR 5.0 million and EUR 6.1 million and an EBITDA of EUR -1.5 million to
EUR -1.0 million. This is a quarterly fluctuation that is in particular
influenced by the ordering behavior of our major customers in the area of bone
cement and mixing systems. In this regard, it should be noted that the
development of the most important key figures should be evaluated as an overall
economic review on an annual basis rather than on a quarterly basis.
About aap Implantate AG
aap Implantate AG is a globally operating medical device company headquartered
in Berlin, Germany. The company develops, manufactures and markets trauma and
biomaterials products for orthopedics. The trauma portfolio includes besides the
innovative anatomical plating system LOQTEQ® a wide range of cannulated screws
as well as standard plates and screws. In the biomaterials business the company
is specialized on bone cements and mixing systems. In German-speaking countries
aap Implantate AG directly sells its trauma products to hospitals, buying
syndicates and hospital groups while it uses a broad network of distributors in
more than 60 countries at the international level. In the biomaterials business
sales are handled via OEM and private label cooperations with several selected
international orthopedic and trauma companies. aap Implantate AG's stock is
listed in the Prime Standard segment of Frankfurt Stock Exchange (XETRA:
AAQ.DE). 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.
Forward-looking statement
This release may contain 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.
For inquiries please contact: aap Implantate AG, Fabian Franke, Investor
Relations, Lorenzweg 5, 12099 Berlin, Germany
Tel.: +49 30 7501 9-134, fax: +49 30 7501 9-290, e-mail: f.franke(at)aap.de
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire 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 GlobeNewswire
[HUG#1921925]
Unternehmensinformation / Kurzprofil:
Datum: 15.05.2015 - 23:55 Uhr
Sprache: Deutsch
News-ID 393780
Anzahl Zeichen: 9093
contact information:
Town:
Berlin
Kategorie:
Business News
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