aap Implantate AG: Publication of first-half 2004 figures

aap Implantate AG, a medical technology company specialized in bone growth and replacement substances, fracture healing and joint replacement, took a 5.2% year-on-year decline in Group sales to EUR 5.8 million in the first half of 2004 due to liquidity-related delivery difficulties. At the same time, it made further negative value adjustments totaling around EUR 3.5 million on various balance sheet items that had an enormous influence on the result.

In the first six months of 2004 the company's EBITDA was EUR 645,000 (previous year: EUR 493,000). EBIT at minus EUR 203,000 was an improvement on the previous year's minus EUR 1 million. The DVFA/SG consolidated result for the reporting period on which the above-mentioned figures are based was minus EUR 1.2 million (previous year: minus EUR 1.1 million) and DVFA/SG earnings per share were minus EUR 0.25 (previous year: minus EUR 0.22).

The EUR 9.7 million capital increase successfully completed in August that will only be shown in the figures for the third quarter, along with the entry of a new group of investors and massive balance sheet value adjustments, have put the company back on a sound financial base. aap must now make use of its newly gained financial security and independence and convert them into operating successes.