Freitag, 23. März 2018

  • Pressemitteilung BoxID 101376

aap expects in the annual consolidated financial statements 2008 one time, non-cash effect adjustments amounting to approx. EUR 6.5 million

Berlin, (lifePR) - Within the compilation of the annual consolidated financial statements to the 31st of December 2008, write-offs totaling approx. EUR 6.5 million have been stated. These one time and non-liquidity-related adjustments in the annual consolidated financial statements according to IFRS result mainly from the new strategic direction and the announced restructuring measures of the aap group.

The focusing of aap on the Ortho/Trauma/Spine areas led to an extraordinary write-off of capitalized services totaling approx. EUR 4.0 million. The new strategic direction led among other things to a new prioritization of research and development projects in the core business segments Ortho, Trauma & Spine as well as the classification of some business lines (among others medical aesthetics) as non-core business segments. Development projects of those non-core business segments were terminated and extraordinary depreciated.

In addition to that, legal uncertainties regarding ongoing negotiations led to an extraordinary write off of intangible assets totaling approx. EUR 1.4 million.

Other adjustments to the amount of EUR 1.1 million result from the execution of cost reduction and restructuring measures like the relocation of the aap bio implants markets GmbH to Berlin and the subsequent closure of the site in Düsseldorf as well as the annual impairment tests of inventories within the compilation of the annual consolidated financial statements.

Due to the above mentioned adjustments impacts on the amount of the deferred taxes occur. The change of the deferred tax liabilities result mainly of the adjustments within the purchase price allocation of capitalized intangible assets as well as original capitalized services. In the financial year 2008 aap capitalizes, in accordance with the IFRS, deferred tax assets based on the anticipated use of the carryforward of unused tax losses only to the extent that aap has sufficient deferred tax liabilities. A deferred tax income amounting to approx. EUR 0.2 million occurs out of the juxtaposition of the tax effects resulting from the above mentioned measures.

All of the above mentioned figures are based on the unaudited annual consolidated financial statements 2008 of the aap Implantate AG and therefore might still change.

aap Implantate AG's audited annual consolidated financial statements for 2008 will be published on April 28, 2009.

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