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| Press Release dated November 12, 2007 |
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aap reports Nine-Month Sales of EUR 18.6 million (+31%) and EBIT of EUR 1.1 million EUR (-46%)
aap Implantate AG, a medical technology company listed on the Frankfurt Stock Exchange in the Prime Standard segment, achieved consolidated with the Dutch Fame Medical Group a 31% growth in sales in the first nine months of the financial year to EUR 18.6 million (previous year: EUR 14.2 million) and an operating result of EUR 1.1 million (previous year: EUR 2.1 million). Due to Germany’s corporate tax reform the result for the period was burdened by a one-off additional tax expense of EUR 0.4 million and reduced to EUR 0.2 million (previous year: EUR 1.3 million).
| In EUR million | Q1-Q3/2007 | Q1-Q3/2006 | Change | | Sales | 18.6 | 14.2 | + 31% | | EBITDA | 2.7 | 3.2 | - 16% | | EBIT | 1.1 | 2.1 | - 46% | | EBT | 0.8 | 2.0 | - 61% | | net period result | 0.2 | 1.3 | - 81% | | Equity (ratio) | 42.6 (38%) | 21.6 (77%) | + 97% | | Balance Sheet Total | 63.7 | 28.0 | + 128% | | Employees | 274 | 161 | + 70% |
In the first three quarters of 2007 the Group earned an EBITDA of EUR 2.7 million (previous year: EUR 3.2 million). Group EBIT was EUR 1.1 million (previous year: EUR 2.1 million) and EBT EUR 0.8 million (previous year: EUR 2.0 million). With total assets of EUR 63.7 million (previous year: EUR 28.0 million) the equity ratio after entry of the capital increase in the Commercial Register was 67%.
In the third quarter aap reached important milestones from which substantial sales and earnings contributions are expected in fiscal 2008. With the takeover of Adcon® L from Wright Medical Technologies (WMT) the aap bio implants group (combining Group companies that do business in the medical biomaterials core area) was able to expand its product portfolio in the spine field.
The Trauma & Orthopaedics division was also able to conclude with WMT in August a substantial global distribution and supply contract for cannulated screw systems in the foot and ankle joint treatment area. Initial significant sales from this first contract are expected before the end of the present financial year.
For the full year 2007 aap continues to expect sales in excess of EUR 28 million (previous year: EUR 18.5 million) and an EBIT margin of more than 10% – presupposing, however, that current large orders can be shipped on schedule.
For further information, please contact:
aap Implantate AG | | Lorenzweg 5 | | D-12099 Berlin | | X | | Oliver Bielenstein | Nanette Hüdepohl | | Director/CFO | Investor & Public Relations | | Tel.: +49 30 750 19 - 140 | Tel.: +49 30 75019 - 133 | | Fax: +49 30 750 19 - 290 | Fax: +49 30 75019 - 290 | | X | | WKN 506660, ISIN DE0005066609 | | Prime Standard/Regulated Market | | Traded at all German Stock Exchanges |
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