aap: Q1/2016 sales and EBITDA in line with expectations
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aap Implantate AG /
aap: Q1/2016 sales and EBITDA in line with expectations
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aap Implantate AG ("aap") achieved in the first quarter of 2016 sales and EBITDA
at the group level in line with the guidance. Sales in the reporting period
totalled EUR 5.1 million (Q1/2015: EUR 7.1 million) and were thus within the
forecast published in February 2016 of EUR 4.5 million to EUR 6.0 million. For
the first quarter of 2016 the company posted an EBITDA of EUR -1.9 million
(Q1/2015: EUR 0.2 million) that was also within the forecasted corridor of EUR
-2.0 million to EUR -1.0 million.
Deteriorated macroeconomic developments in BRICS and SMIT countries negatively
influenced our planned sales development in the last year and presented a
challenge in the first quarter of 2016 as well. This is characterized by the
fact that markets as China, Turkey and Russia did not contribute to the sales in
the first quarter. aap has reacted to this and focussed increasingly on
established markets and already initiated necessary sales activities in these
markets. Overall the company expects the measures to become effective in the
second half of 2016.
Sales
+------------------------------+---------+---------+----------------+
| | | | |
| In EUR million | Q1/2016 | Q1/2015 | Change on year |
+------------------------------+---------+---------+----------------+
| Trauma | 2.2 | 2.6 | -16% |
+------------------------------+---------+---------+----------------+
| Other | 0.3 | 0.3 | -3% |
+------------------------------+---------+---------+----------------+
| Sales continued operation | 2.5 | 2.9 | -14% |
+------------------------------+---------+---------+----------------+
| | | | |
+------------------------------+---------+---------+----------------+
| Sales discontinued operation | 2.6 | 4.2 | -39% |
+------------------------------+---------+---------+----------------+
| Group sales | 5.1 | 7.1 | -29% |
+------------------------------+---------+---------+----------------+
EBITDA
+-------------------------------+---------+---------+----------------+
| | | | |
| In EUR million | Q1/2016 | Q1/2015 | Change on year |
+-------------------------------+---------+---------+----------------+
| Group EBITDA | -1.9 | 0.2 | > -100% |
+-------------------------------+---------+---------+----------------+
| EBITDA discontinued operation | 0.3 | 2.0 | -85% |
+-------------------------------+---------+---------+----------------+
| EBITDA continued operation | -2.2 | -1.8 | -23% |
+-------------------------------+---------+---------+----------------+
In the continued operation aap generated sales in the first quarter of 2016 of
EUR 2.5 million (Q1/2015: EUR 2.9 million). The company's sales in the
discontinued operation amounted to EUR 2.6 million (Q1/ 2015: EUR 4.2 million)
in the reporting period.
EBITDA in the continued operation totalled EUR -2,2 million (Q1/2015: EUR -1.8
million) in the first three months of the current financial year. In the
discontinued operation aap realized EBITDA of EUR 0.3 million (Q1/2015: EUR 2.0
million) in the first quarter of 2016.
The following highlights show the progress that aap made in implementing its
2016 Management Agenda in the first quarter of 2016:
* Signing of a share purchase agreement for the sale of 100% of the company
shares in aap Biomaterials GmbH on 22 March 2016; the transaction was closed
on 11 May 2016
* LOQTEQ®: Progress on schedule in completing the LOQTEQ® product portfolio;
focus of research and development activities on implants for lower
extremities and the launch of the periprosthetic treatment system
* Silver coating technology: Submission of design dossier for CE conformity
assessment procedure at a notified body in January 2016; first steps in the
approval process by the US Food and Drug Administration (FDA) undertaken
Outlook for 2016
In the second quarter of 2016 aap aims to achieve further progress in its
strategy implementation. The Management Board will be focussing on the following
topics:
To accelerate value-based innovations aap will be taking forward in a targeted
manner the further expansion of the LOQTEQ® portfolio for certain indication
areas respectively functionalities. In the area of silver coating technology an
active interaction with the approval authorities is to be pursued for the
approval process under way.
The company wants to enhance market access by means of two approaches: Firstly,
sales activities in the established markets in Western Europe as well as in the
United States are to be expanded further. Secondly, further endeavours are to be
undertaken to stabilize sales in growth markets such as the BRICS and SMIT
countries.
Following the successful divestment of aap Biomaterials GmbH, aap will in the
second quarter also be concentrating on optimizing operational efficiency with a
focus on adjusting the cost structure to the company's new size.
According to preliminary calculations, the completion of the aap Biomaterials
GmbH transaction will result in a positive one-time overall effect on the
earnings level of about EUR 19.6 million in the second quarter of 2016.
Thus the Management Board confirms its forecast for the entire year of 2016: The
company anticipates for the EDITDA of the Group (continued and discontinued
operation) incl. deconsolidation gain a value of between EUR 14.1 million and
EUR 15.7 million.
For the continued operation sales between EUR 13.0 million and EUR 15.0 million
and an EBITDA between EUR -5.5 million and EUR -3.9 million are expected.
For the second quarter of 2016, aap is expecting for the continued operation
sales to range between EUR 2.5 million and EUR 3.5 million and an EBITDA of EUR
-2.0 million to EUR -1.5 million.
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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(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: aap Implantate AG via GlobeNewswire
[HUG#2012816]
Unternehmensinformation / Kurzprofil:
Datum: 14.05.2016 - 01:11 Uhr
Sprache: Deutsch
News-ID 471105
Anzahl Zeichen: 10088
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Town:
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Kategorie:
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