aap Implantate AG / aap: 110% LOQTEQ® sales growth in Q3/2014 underscores claim to become a leading European trauma company . Processed and transmitted by NASDAQ OMX Corporate Solutions. The issuer is solely responsible for the content of this announcement.
aap: 110% LOQTEQ® sales growth in Q3/2014 underscores claim to become a leading European trauma company
Q3/2014: Sales EUR 7.8 million (+23%); EBITDA EUR 0.8 million (+27%)
aap Implantate AG sales revenues totalled EUR 7.8 million in the third quarter of 2014 (previous year, continuing operations: EUR 6.3 million), or a 23% increase on the previous year. EBITDA was EUR 0.8 million (previous year, continuing operations: EUR 0.6 million) and EBIT EUR 0.2 million (previous year, continuing operations: EUR 0.1 million). In the first nine months of financial year 2014, aap Group sales (continuing operations) totalled EUR 22.1 million (previous year: EUR 19.0 million) and EBITDA amounted to EUR 2.4 million (previous year: EUR 3.2 million).
| In EUR million | Q3/2014 | Q3/2013* | Change on year |
| Sales | 7.8 | 6.3 | 23% |
| EBITDA | 0.8 | 0.6 | 27% |
| EBIT | 0.2 | 0.1 | 66% |
| *Figures relate solely to continuing operations, with previous year's figures adjusted accordingly. | |||
| In EUR million | 9M/2014 | 9M/2013* | Change on year |
| Sales | 22.1 | 19.0 | 16% |
| EBITDA | 2.4 | 3.2 | -24% |
| EBIT | 0.8 | 1.7 | -55% |
| *Figures relate solely to continuing operations, with previous year's figures adjusted accordingly. | |||
| In EUR million | Q3/2014 | Q3/2013 | Change on year |
| Sales | 7.8 | 5.8 | 34% |
| EBITDA | 0.8 | 0.3 | >100% |
| *Sales/EBITDA excluding one-off effects of equity disposals and one-off costs in connection with strategic measures and project proceeds and costs incurred in connection with them | |||
| In Mio. EUR | 9M/2014 | 9M/2013 | Change on year |
| Sales | 21.8 | 16.9 | 29% |
| EBITDA | 1.3 | -1.3 | >100% |
| *Sales/EBITDA excluding one-off effects of equity disposals and one-off costs in connection with strategic measures and project proceeds and costs incurred in connection with them | |||
| In EUR million | 9M/2014* | 9M/2013** | Change on year |
| Sales | 23.0 | 28.4 | -19% |
| EBITDA | 2.4 | 5.3 | -54% |
| EBIT | 0.8 | 3.0 | -73% |
| *EMCM B.V. included for 01-02/2014 ** EMCM B.V. included for 01-09/2013 | |||
The following highlights indicate the progress made in the first nine months in implementing the Management Agenda for 2014:
- Financial targets achieved: Q3 sales of EUR 7.8 million at the upper end of the forecast made at the beginning of the quarter and EBITDA target exceeded at EUR 0.8 million
- Trauma sales in Q3/2014 totalling EUR 3.3 million (+48 %) generated mainly from existing customers, increasing by 29% in the first nine months on the previous year
- LOQTEQ® sales in Q3/2014 were 110% up on the previous year (EUR 1.1 million), increasing by 68% in the first nine months to EUR 5.3 million with growth mainly in the BRIC and SMIT countries
- Receipt of the notice of allowance from the US Patent and Trademark Office for core patent claims in respect of our LOQTEQ® system
- Silver technology: Further scheduled progress and keen interest shown by globally active medical technology enterprises
- A strong net liquidity position of EUR 10 million (31.12.2013: net debts of EUR 3.4 million)
Outlook for 2014
We have talks and negotiations with a number of US distribution partners on sales of our trauma products in the United States. Our aim is to conclude one or more distribution agreements and to ship the first deliveries to our partners in the first quarter of 2015 at the latest.
In the area of silver technology a next major milestone will be the beginning of extended animal experiments with a renowned US laboratory in the first quarter of 2015. Our aim is to be to secure CE approval of the first silver-coated implants by the end of 2015. In addition, we held talks on developing partnerships and licensing with globally active medical technology companies that have shown interest in aap's silver technology.
aap have held intensive talks with selected potential strategic parties and private equity investors on possible strategic options for aap Biomaterials GmbH (bone cements and mixing systems and biomaterials). Our strategic objective is to complete a transaction in the first quarter of 2015 at the latest and thereby to transform aap Implantate AG into a company that is active solely in the trauma sector.
For financial year 2014 sales revenue we foresee a target corridor of between € 30 million and € 34 million and for EBITDA of between € 2.0 million and € 4.5 million.
The strategic objective of transforming aap Implantate AG into a leading European trauma company remains intact.
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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, 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
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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