aap Implantate posts record sales and strong earnings growth

aap Implantate AG, a leading German company in the biomedical implants sector, reports strong growth in financial 2000. Sales were up by roughly 72% to DM 21.4 million from DM 12.5 million, and thus exceeded the target figure of DM 20.6 million. Total operating performance in 2000 was DM 23.7 million (1999: DM 17.4 million). Earnings before interest, tax and depreciation (EBITDA) totaled DM 5.0 million, or nearly six times 1999's DM 0.75 million. Operating profit was DM 2.4 million, against DM 0.9 million in 1999, or a growth rate of roughly 150%. The group is posting a pre-tax profit of DM 1.45 million, uproughly 170% on the previous year's - DM 2.1 million. DVFA/SG earnings per share increased to DM 0.30 from DM 0.12.

Disregarding acquisition-related depreciation totaling DM 0.75 million, the figures and growth rates were as follows, says the aap board. Operating profits were just under DM 3 million (+230%), DVFA/SG earnings per share were DM 0.41 (previous year: DM 0.12).

DVFA/SG cash earnings increased by 97% to DM 3.5 million from DM 1.78 million in 1999. The balance sheet total was DM 89.1 million (previous year: DM 37.2 million), the equity quota 62% (previous year: 68%).

The aap board attributes this sound business development mainly to above-average growth rates in foreign markets, first and foremost the U.S. and Asia, to successful product launches and to continuation on schedule of a development contract for an innovative knee prosthesis. Strategic acquisitions in Germany are said to have strengthened aap lastingly as an all-round provider in the orthopedics market and to have made possible a move into the promising field of orthobiology, or biological implants. These strategic steps have enabled aap to build up an outstanding market position in the core competences of osteosynthesis, endoprosthetics and orthobiology.