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aap Achieves Double-Digit H1 2010 Sales Growth to EUR 12.8 Million, Reports Positive EBIT
In the first half of 2010, aap Implantate AG, a medical technology company listed in the Frankfurt Stock Exchange’s Prime Standard segment, generated sales of EUR 12.8 million (previous year: EUR 14.7 million) and an operating result (EBIT) of EUR 32K (previous year: EUR -0.4 million). After adjustments for project sales, sales by the Analytics segment, which was sold in December 2009 and other one-time effects amounting EUR 3.2 million, comparable Group sales for the first half of 2009 increased 11% from EUR 11.5 million to EUR 12.8 million.
| In EUR million | H1 2010 | H1 2009 | Change | | Sales | 12.8 | 14.7 | - 13% | | EBITDA | 1.4 | 1.2 | 17% | | EBIT | 0.03 | -0.4 | >100% | | EBT | -0.2 | -0.8 | n. a. | | Result for period | -0.3 | -1.1 | n. a. | | In EUR million | 6/30/2010 | 12/31/2009 | Change | | Equity Ratio | 44.0 (71%) | 44.7 (71%) | - 2% | | Balance sheet total | 62.1 | 62.7 | - 1% | | Headcount | 252 | 242 | 4% |
The aap Group earned EUR 1.4 million in EBITDA in the first half of 2010 (previous year: EUR 1.2 million). Group EBIT was EUR 32K (previous year: EUR -0.4 million) and EBT EUR -0.2 million (previous year: EUR -0.8 million). The equity ratio on a balance sheet total of EUR 62.1 million (12/31/2009: EUR 62.7 million) remained unchanged at 71%.
After deducting the effects of the Analytics segment and the effect of project business, the adjusted and comparable key figures for the second quarter and the first half of 2009 are as follows:
| In EUR million | Q2 2010 | Q2 2009 adjusted* | Change | | Sales | 7.0 | 5.7 | 23% | | EBITDA | 1.1 | 0.1 | >100% | | EBIT | 0.6 | -0.6 | >100% | | EBT | 0.5 | -0.8 | >100 % | *Q2/2009 adjusted – Figures without effects from the Analytics segment and Project Business
Therefore, the goals of double-digit sales growth at product level as well as achieving a positive EBIT were accomplished in the second quarter of 2010.
| In Mio. EUR | H1/2010 | H1/2009 adjusted* | Change | | Sales | 12.8 | 12.9 | -1% | | EBITDA | 1.4 | 0.4 | >100% | | EBIT | 0.03 | -1.1 | >100 % | | EBT | -0.2 | -1.5 | n. a. | *H1/2009 adjusted – Figures without effects from the Analytics segment and Project Business
The positive sales trend is to be accelerated further by launching new products, introducing existing products in new markets, and achieving additional project sales on the basis of the goals outlined in the 2010 Management Agenda. The main focal points here are on the WSG system product launch, on boosting cannulated screw business in the U.S. market, and on marketing Jason® G collagen fleece impregnated with antibiotics.
Interest in aap’s R&D partner programs continues to be strong. We are engaged in talks at an advanced level with several partners and therefore continue to anticipate the conclusion of two license agreements in 2010.
aap Implantate AG’s full Q2 2010 report is available to download at www.aap.de.
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