- Pressemitteilung BoxID 364949
Continued strong sales (+31%) and EBITDA (+62%) growth in the first nine-month of 2012
Raised EBITDA-Guidance for 2012
Group EBIT totalled EUR 2.4 million (previous year: EUR 0.8 million). On a balance sheet total of EUR 67.8 million (12/31/2011: EUR 66.2 million) the equity ratio rose to 74%. Cash EBIT (excluding internally produced and capitalised assets and depreciation thereof) for the first nine months of 2012 amounted to EUR 1.2 million (previous year: -EUR 0.6 million).
Sales in the third quarter of 2012 were up by 25% to EUR 8.6 million (previous year: EUR 6.9 million) and EBITDA was up by 50% to EUR 1.2 million (previous year: EUR 0.8 million).
Sales growth in the third quarter of 2012 was driven mainly by higher sales in the core business areas trauma (+46%) and Biomaterials (+7%) as well as Gels, Fluids and Bone Materials (>100%).
In the trauma sector, aap received in the third quarter of 2012 the first FDA approvals for its innovative LOQTEQ® plating systems. Approval of the entire product family is anticipated in the course of the fourth quarter. The aap development team has nearly completed work on six additional LOQTEQ® systems and registration documents for the EU, the USA, China and other markets will be submitted in the fourth quarter of 2012. In our bone cement and cementing techniques core business area, aap has received CE approval for a newly developed bone cement and has applied for FDA approval at the same time. At the Gels, Fluids and Bone Materials Center of Excellence in Nijmegen one development contract was signed with a major US customer for an inflammable sterile product and another with an internationally active Japanese business partner on the manufacturing and sterile filling of a recombinant protein product.
The process of transforming aap into a focussed medical technology company was taken further forward in the third quarter of 2012. Liquidity was further improved by the ongoing improvement of working capital management and net debt was reduced to EUR 4.7 million by the repayment of shareholder loans in the course of the third quarter.
Outlook for 2012
The main focus in the remainder of the year will be on the trauma business area with the following objectives:
- LOQTEQ® total sales of approx. EUR 2.0 million in 2012
- Signing new distribution partners in core markets such as the USA and the BRICS and MIST countries
- Gaining new and additional regulatory approvals
- Planning and preparing for launching LOQTEQ® product line extensions
On the basis of results for the first nine months of 2012, aap confirms its full-year sales forecast of EUR 35.5 million for 2012 (up 22% on the previous year). At the same time the EBITDA forecast for the 2012 financial year is increased from the original EUR 5.2 million to between EUR 5.7 million and EUR 5.9 million (+39% and +44% respectively compared with the 2011 figure of EUR 4.1 million). Fourth-quarter 2012 sales are expected to amount to between EUR 8.0 million and EUR 8.4 million (between -2% and +2% compared with Q4 2011) and EBITDA is expected to be between EUR 1.0 million and EUR 1.2 million (between -17% and +0% compared with the Q4 2011 figure of EUR 1.2 million).
aap Implantate AG's full Q3 2012 report is available to download at www.aap.de.
This release contains 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.
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.
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