aap: Q2/2015 sales and EBITDA above guidance; further continuous sales growth in Trauma business and with LOQTEQ®
(Thomson Reuters ONE) -
aap Implantate AG /
aap: Q2/2015 sales and EBITDA above guidance; further continuous sales growth in
Trauma business and with LOQTEQ®
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The issuer is solely responsible for the content of this announcement.
aap Implantate AG (XETRA: AAQ.DE) was able to exceed its financial targets in
the second quarter of 2015 for both sales and earnings and further on realized
continuous sales growth in the trauma business and especially with the LOQTEQ®
product family. The company's sales in the reporting period totalled EUR 6.5
million (Q2/2014: EUR 8.1 million) and were thus above the EUR 5.0 million to
EUR 6.1 million guidance issued in May. In the first half of 2015, aap
Implantate AG reported sales of EUR 13.6 million (H1/2014: EUR 14.2 million).
EBITDA in the second quarter of 2015 amounted to EUR -0.8 million (Q2/2014: EUR
1.5 million), thereby also exceeding the forecast of EUR -1.5 million to EUR
-1.0 million. In the first six months of the current financial year the
company's EBITDA was at EUR -0.6 million (H1/2014: EUR 1.6 million).
+-----------------+---------+---------+--------+
| | | | |
| In EUR million | Q2/2015 | Q2/2014 | Change |
+-----------------+---------+---------+--------+
| Sales | 6.5 | 8.1 | -20% |
+-----------------+---------+---------+--------+
| Trauma | 3.2 | 2.9 | 8% |
| | | | |
| thereof LOQTEQ® | 2.0 | 1.8 | 15% |
+-----------------+---------+---------+--------+
| Biomaterials | 3.2 | 4.9 | -34% |
+-----------------+---------+---------+--------+
| Projects | 0.0 | 0.1 | -82% |
+-----------------+---------+---------+--------+
| Other | 0.1 | 0.2 | -50% |
+-----------------+---------+---------+--------+
+-----------------+---------+---------+---------+
| | | | |
| In EUR million | Q2/2015 | Q2/2014 | Change |
+-----------------+---------+---------+---------+
| EBITDA | -0.8 | 1.5 | < -100% |
+-----------------+---------+---------+---------+
| EBIT | -1.5 | 1.0 | < -100% |
+-----------------+---------+---------+---------+
+-----------------+---------+---------+--------+
| | | | |
| In EUR million | H1/2015 | H1/2014 | Change |
+-----------------+---------+---------+--------+
| Sales | 13.6 | 14.2 | -4% |
+-----------------+---------+---------+--------+
| Trauma | 5.6 | 5.1 | 11% |
| | | | |
| thereof LOQTEQ® | 3.7 | 2.9 | 27% |
+-----------------+---------+---------+--------+
| Biomaterials | 7.6 | 8.4 | -9% |
+-----------------+---------+---------+--------+
| Projects | 0.2 | 0.2 | 10% |
+-----------------+---------+---------+--------+
| Other | 0.2 | 0.5 | -72% |
+-----------------+---------+---------+--------+
+-----------------+---------+---------+---------+
| | | | |
| In EUR million | H1/2015 | H1/2014 | Change |
+-----------------+---------+---------+---------+
| EBITDA | -0.6 | 1.6 | < -100% |
+-----------------+---------+---------+---------+
| EBIT | -1.9 | 0.5 | < -100% |
+-----------------+---------+---------+---------+
Sales development in the second quarter of financial year 2015 was significantly
influenced by the sales decline in the biomaterials business (Q2/2015: EUR 3.2
million vs. Q2/2014: EUR 4.9 million). This decline was merely a quarterly
fluctuation primarily due to the ordering behaviour of the major customers in
the area of bone cement and mixing systems. In contrast the company again
reported continuous growth rates in the trauma business and with the LOQTEQ®
portfolio on both a quarterly and a half-yearly basis.
+---------------------+---------+---------+---------+
| | | | |
| In EUR million | Q2/2015 | Q2/2014 | Change |
+---------------------+---------+---------+---------+
| Sales (normalised) | 6.5 | 8.0 | -19% |
+---------------------+---------+---------+---------+
| EBITDA (normalised) | -0.5 | 0.3 | < -100% |
+---------------------+---------+---------+---------+
+---------------------+---------+---------+---------+
| | | | |
| In EUR million | H1/2015 | H1/2014 | Change |
+---------------------+---------+---------+---------+
| Sales (normalised) | 13.4 | 14.0 | -5% |
+---------------------+---------+---------+---------+
| EBITDA (normalised) | -0.2 | 0.4 | < -100% |
+---------------------+---------+---------+---------+
On a comparable basis (without the one-time effects of share disposals, one-time
costs incurred in connection with strategic measures, project earnings and
related costs) normalised sales in the second quarter of 2015 totalled EUR 6.5
million (Q2/2014: EUR 8.0 million) and in the first half of the current
financial year amounted to EUR 13.4 million (H1/2014: EUR 14.0 million).
Adjusted for project and one-time effects EBITDA in the second quarter of 2015
totalled EUR -0.5 million (Q2/2014: EUR 0.3 million) and amounted to EUR -0.2
million in the first half of the current financial year (H1/2014: EUR 0.4
million). When comparing the normalised EBITDA figures it has to be stated that
the sales decrease in the highly profitable biomaterials business led especially
to the decline in normalised EBITDA in the second quarter.
The following highlights show the progress that aap Implantate AG achieved in
the second quarter of 2015 with regard to the implementation of the 2015
Management Agenda:
* Financial targets achieved: EUR 6.5 million in sales and EUR -0.8 million in
EBITDA were above the guidance provided in May
* Further continuous sales growth in the trauma business (+8% to EUR 3.2
million) and with the LOQTEQ® portfolio (+15% to EUR 2.0 million)
* US market development: Eight contracts signed with non-stocking distributors
for the distribution of LOQTEQ® products
* Trauma: Scheduled expansion of the LOQTEQ® portfolio with a focus on, inter
alia, the introduction of the radius system with a variable locking
technology, the development of new foot and ankle joint plate systems and
plates with polyaxial locking technology
* Silver coating technology: Approval-relevant animal studies and other work
further running on schedule
* Biomaterials: Further targeted expansion of aap Biomaterials GmbH's business
with a situation appraisal and deduction of specific action options in
H2/2015
Outlook for 2015
With a view to developing the US market the first eight contracts have been
signed with non-stocking distributors. The next steps include the provision of
necessary inventories and the execution of various product training courses and
sessions for the distributors' sales employees. In order to reach an optimal
geographic coverage as well as to extend the presence in this strategically
important market, aap Implantate AG will further push the acquisition of
distributors in the coming months and intensify distribution activities. For
this purpose the US team will be strengthened again in a targeted manner in
product management and distribution. Initial more significant sales are to be
expected from the fourth quarter of 2015.
In the trauma business the LOQTEQ® portfolio is to be further expanded in the
second half. In this connection the company plans, inter alia, the market launch
of a periprosthetic LOQTEQ® plate for use in the area of the femur near the knee
and the extension of the polyaxial locking technology to further LOQTEQ® plate
systems.
In the silver coating technology area all approval-relevant work continues to go
ahead on schedule. The company still aims to submit its CE approval application
for the first silver coated products by the end of 2015.
For the third quarter of 2015, aap Implantate AG is expecting sales to range
between EUR 7.5 million and EUR 9.0 million and an EBITDA of EUR 0.1 million to
EUR 0.6 million. 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
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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#1945818]
Unternehmensinformation / Kurzprofil:
Datum: 14.08.2015 - 20:56 Uhr
Sprache: Deutsch
News-ID 413922
Anzahl Zeichen: 12528
contact information:
Town:
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Kategorie:
Business News
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