aap reports profitable Q1 2012 sales growth of 51% to EUR 9.9 million; Increased sales forecast for the financial year 2012 to EUR 34 million (+16%)

aap Implantate AG, a medical technology company listed in the Frankfurt Stock Exchange’s Prime Standard segment, generated EUR 9.9 million in sales (previous year: EUR 6.5 million) in the first three months of financial year 2012, which was a 51% increase on the previous year’s first quarter. This strong sales growth was due mainly to an 18% increase in product sales to EUR 7.7 million (previous year: EUR 6.5 million) and to revenue from the conclusion of an exclusive license agreement worth EUR 2.2 million with a world-leading medical technology company. EBITDA increased to EUR 2.1 million (previous year: EUR 0.8 million).

*Full-Time-Equivalents (FTE) are the number of full-time employed persons during a period

In the first quarter of 2012 aap Group’s EBIT was EUR 1.3 million (previous year: EUR 0.1 million) and its EBT amounted to EUR 1.2 million (previous year: EUR 0.1 million). On a balance sheet total of EUR 67.1 million (31.12.2011: EUR 63.4 million) the equity ratio was 74%.

In the first quarter, aap presented its innovative LOQTEQ® product line to potential new distributors in Europe, the United States, Asia and Latin America, while the centre of excellence for trauma in Berlin continued to work on the FDA approval of the LOQTEQ® product family. aap expects to receive full FDA approval on the LOQTEQ® product line in the third quarter of 2012. The center of excellence for contract manufacturing in Nijmegen signed in the first quarter a contract to process human tissue with the Dutch Sanquin bone and tissue bank.

Outlook for 2012

On the basis of the positive result for the first quarter, the current order intake and potential new customer relationships, aap Implantate AG is revising its sales forecast for the financial year 2012. The Management Board now anticipates total sales of around EUR 34 million (previous forecast: around EUR 32 million), or 16% sales growth on the previous year.

The main strategic focus in the financial year 2012 will be on the core business segments trauma and bone cement and cementing techniques, in which aap aims to achieve double-digit sales growth and a positive Cash-EBIT. Sales growth is to be realised through the launch of the innovative LOQTEQ® product line and its FDA approval along with further strong sales growth in the bone cement and cementing techniques segment, license business, OEM contracts and another project deal.

aap Implantate AG’s full report for the first quarter of 2012 is available for you to download at www.aap.de.

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