aap Implantate AG / aap: 110% LOQTEQ® sales growth in Q3, total sales increase by 20% to EUR 7.6 million . Processed and transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.
aap Implantate AG (XETRA: AAQ.DE) generated, according to preliminary figures, sales of EUR 7.6 million in the third quarter of 2014, thereby achieving a result at the upper range of the forecast made at the beginning of the quarter of EUR 7.0 million to EUR 8.0 million. aap generated total sales of EUR 22.8 million in the first nine months of 2014, of which EUR 21.8 million is attributable to the continued operations (aap Implantate AG excluding EMCM B.V.). As a result of the sale of EMCM B.V. on February 28, the sales figures for the first half-year include sales from EMCM for January and February totaling EUR 1.0 million.
In a year-on-year comparison, the continued operations quarterly sales grew by 20% to EUR 7.6 million over the corresponding sales of EUR 6.3 million in the third quarter of 2013. The key factors in this development were strong quarterly business in the trauma area, mainly with the LOQTEQ® product portfolio as well as continued growth in our biomaterials business (biomaterials, bone cements and cementing technology). These trends were also decisive for the 15% increase in nine-month sales to EUR 21.8 million from continued operations. The dynamism of the course of business with product sales can been seen clearly here, as the previous year's sales figures for the first three quarters included EUR 2.4 million in revenue from project business, which only came to EUR 0.3 million in the first nine months of 2014.
| In EUR million | Q3/2014 | Q3/2013 | Change |
| Sales from continued operations | 7.6 | 6.3 | 20% |
| In EUR million | 9m/2014 | 9m/2013 | Change |
| Sales from continued operations | 21.8 | 19.0 | 15% |
| Sales from discontinued operations | 1.0* | 9.4*² | -90% |
| Sales total | 22.8 | 28.4 | -20% |
* Sales revenues EMCM B.V. 01-02/2014: EUR 1.2 million less consolidation effects (EUR 0.2 million)
*² Sales revenues EMCM B.V. 01-09/2013: EUR 10.1 million less consolidation effects (EUR 0.7 million)
Sales in the trauma area amounted to EUR 3.3 million in the third quarter, of which EUR 2.4 million was attributable to sales of products from the LOQTEQ® portfolio. With a significant increase of LOQTEQ® sales of 110% on the same quarter in the previous year, the pace of growth was further accelerated. The trauma area saw growth of 29% to EUR 8.4 million in the nine-month period, and here the LOQTEQ® system was also a key factor, with growth of 68% to EUR 5.3 million.
In the area of biomaterials, third-quarter sales growth of 21% to EUR 4.0 million, not accounting for project income, continued the good trend for the 2014 financial year. This area reported growth of 39% to EUR 12.5 million in total for the nine-month period.
| Sales in EUR million | Q3/2014 | Q3/2013 | Change |
| Trauma thereof LOQTEQ® | 3.3 (2.4) | 2.2 (1.1) | 48% (110%) |
| Biomaterials | 4.0 | 3.3 | 21% |
| Projects | 0.1 | 0.5 | -84% |
| Other | 0.2 | 0.3 | -25% |
| Sales from continued operations | 7.6 | 6.3 | 20% |
| Sales in EUR million | 9m/2014 | 9m/2013 | Change |
| Trauma thereof LOQTEQ® | 8.4 (5.3) | 6.5 (3.1) | 29% (68%) |
| Biomaterials | 12.5 | 9.0 | 39% |
| Projects | 0.3 | 2.4 | -89% |
| Other | 0.7 | 1.1 | -34% |
| Sales from continued operations | 21.8 | 19.0 | 15% |
| Sales from discontinued operations | 1.0* | 9.4*² | -90% |
| Sales total | 22.8 | 28.4 | -20% |
* Sales revenues EMCM B.V. 01-02/2014: EUR 1.2 million less consolidation effects (EUR 0.2 million)
*² Sales revenues EMCM B.V. 01-09/2013: EUR 10.1 million less consolidation effects (EUR 0.7 million)
The dynamics of growth in the third quarter and in the first nine months of 2014 clearly underline aap's strategic alignment to the trauma area in which our IP-protected LOQTEQ® system is our current flagship product with which we were able to achieve growth rates of over 100% in the third quarter. The notice of allowance received at the beginning of October from the United States Patent and Trademark Office (USPTO) is a further important milestone and will support the market rollout in the United States in particular.
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About aap Implantate AG
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 (http://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, Marc Heydrich, Investor Relations, Lorenzweg 5, 12099 Berlin, Germany
Tel.: +49 30 7501 9-134, fax: +49 30 7501 9-290, e-mail: m.heydrich@aap.de (mailto:m.heydrich@aap.de)
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: aap Implantate AG via Globenewswire
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aap Implantate AG
Lorenzweg 5 Berlin Germany
WKN: 506660;ISIN: DE0005066609;
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