aap informs about the actual status of the mandatory convertible bond 2023-2028
aap informs about the actual status of the mandatory convertible bond 2023-2028
EQS-News: aap Implantate AG / Key word(s): Bond aap Implantate AG ("aap" or "Company") informs that as of October 31, 2024, conversion rights in the amount of 97.4% of the mandatory convertible bond issued in October 2023 were exercised in the context of elective conversions. This means that only 2.6% of the conversion rights have not yet been exercised, which corresponds to an amount of around EUR 69.5 thousand. The exercise of these conversion rights will reduce the company's liabilities by EUR 2.63 million as well as the associated interest burden of 6% per annum for the remaining term until October 6, 2028. The equity ratio is rising accordingly.
------------------------------------------------------------------------------------------------------------------------------------------- aap Implantate AG (ISIN DE0005066609) - General Standard/Regulated Market - All German Stock Exchanges –
About aap Implantate AG aap Implantate AG is a global medical technology company headquartered in Berlin, Germany. The company develops, manufactures and markets products for traumatology. In addition to the innovative anatomical plate system LOQTEQ®, the IP-protected portfolio includes a wide range of perforated screws. In addition, aap Implantate AG has an innovation pipeline with promising development projects, such as antibacterial silver coating technology and magnesium-based implants. These technologies address critical and not yet adequately solved problems in traumatology. In Germany, aap Implantate AG sells its products directly to hospitals, purchasing groups and affiliated clinics, while on an international level, it primarily uses a broad network of distributors in around 25 countries. In the USA, the company is relying on a hybrid sales strategy with its subsidiary aap Implants Inc. Sales are carried out both through distribution agents and within the framework of partnerships with global orthopaedic companies. The shares of aap Implantate AG are listed in the General Standard of the Frankfurt Stock Exchange (XETRA: AAQ.DE). For more information, please visit our website at www.aap.de.
There may be technical rounding differences in the figures presented in this press release, which do not affect the overall statement.
Forward-Looking Statements This release may contain forward-looking statements based on the current expectations, assumptions and forecasts of the Management Board and information currently available to it. The forward-looking statements are not to be understood as guarantees of future developments and results referred to therein. Various known and unknown risks, uncertainties and other factors could cause the actual results, financial condition, development or performance of the Company to differ materially from the estimates given herein. These factors also include those described by aap in published reports. Forward-looking statements therefore speak only as of the date on which they are made. We undertake no obligation to update the forward-looking statements made in this release or to conform them to future events or developments.
If you have any questions, please contact: aap Implantate AG; Rubino Di Girolamo; Chairman of the Board of Directors/CEO; Lorenzweg 5; 12099 Berlin Phone: +49 (0)30 75019 – 141; Fax: +49 (0)30 75019 – 290; Email: r.digirolamo@aap.de 06.11.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 019-0 |
Fax: | +49 (0) 30 75 019-111 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 2024315 |
End of News | EQS News Service |
Progress in the MDR process - important MDR initial certification audit carried out
Progress in the MDR process - important MDR initial certification audit carried out
EQS-News: aap Implantate AG / Key word(s): Regulatory Admission/Miscellaneous
------------------------------------------------------------------------------------------------------------------------------------------- aap Implantate AG (ISIN DE0005066609) - General Standard/Regulated Market - All German stock exchanges -
About aap Implantate AG aap Implantate AG is a globally active medical technology company based in Berlin, Germany. The company develops, produces and markets products for traumatology. In addition to the innovative LOQTEQ® anatomical plate system, the IP-protected portfolio includes a wide range of cannulated screws. In addition, aap Implantate AG has an innovation pipeline with promising development projects such as antibacterial silver coating technology and magnesium-based implants. These technologies address critical problems in traumatology that have not yet been adequately solved. In Germany, aap Implantate AG sells its products directly to hospitals, purchasing groups and group clinics, while internationally it primarily utilises a broad network of distributors in around 25 countries. In the USA, the company utilises a hybrid sales strategy through its subsidiary aap Implants Inc. Sales are conducted both via distribution agents and through partnerships with global orthopaedic companies. The aap Implantate AG share is listed in the General Standard segment of the Frankfurt Stock Exchange (XETRA: AAQ.DE). For further information, please visit our website at www.aap.de.
The figures presented in this press release may be subject to technical rounding differences that do not affect the overall picture.
Forward-looking statements This release may contain forward-looking statements that are based on the current expectations, assumptions and forecasts of the Executive Board and information currently available to it. The forward-looking statements are not to be understood as guarantees of the future developments and results mentioned therein. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual results, financial situation, development or performance of the company and the estimates given here. These factors include those that aap has described in published reports. Forward-looking statements therefore only apply on the date on which they are made. We assume no obligation to update the forward-looking statements made in this release or to adapt them to future events or developments.
If you have any questions, please contact: aap Implantate AG; R. Di Girolamo; Chairman of the Management Board/ CEO; Lorenzweg 5; D-12099 Berlin Phone: +49/30/750 19 – 170; Fax: +49/30/750 19 – 290; e-mail: r.digirolamo@aap.de 07.10.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 019-0 |
Fax: | +49 (0) 30 75 019-111 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 2002633 |
End of News | EQS News Service |
Very successful human clinical trial with the innovative antibacterial surface-treated implants receives approval for quick end of recruitment.
Very successful human clinical trial with the innovative antibacterial surface-treated implants receives approval for quick end of recruitment.
EQS-News: aap Implantate AG / Key word(s): Study/Study results
aap Implantate AG ("aap" or "Company") informs that due to the ongoing good results the patient recruitment of the human clinical trial could be terminated early. After the incidence rate remained at a very low level and more than 200 patients were recruited for the study, an application to discontinue patient recruitment was submitted in July 2024. This application was approved by the Federal Office for Drugs and Medical Devices (BfArM) and the lead ethics committee. The study has a follow-up period of one year and will end in August 2025. aap would like to thank all participating clinics for their excellent performance in the context of patient recruitment and the very good cooperation to date. The decision represents a milestone for aap after the company has invested around EUR 15 million in development work and associated costs in the years since the start of the project. This makes aap the only company with a nearly completed human clinical study on an antibacterial trauma implant, which puts it in an excellent starting position in a market worth billions. Rubino Di Girolamo (CEO) comments on this success: "We are very pleased about the approval granted by the BfArM and the leading ethics committee. This underlines a successful intermediate step, which was achieved after several obstacles through persistent adherence to the goal and brings aap's opportunity to make a significant contribution to the fight against antibiotic resistance closer." In the next step, aap is preparing the MDR registration of the technology with the aim of authorising an initial product group in the 2026 - 2027 timeframe, depending on the regulatory requirements, and subsequently generating initial sales. The company anticipates that the funds required for product approval in the period 2025 - 2027 will amount to between EUR 1 million and EUR 2 million. With additional, manageable funds, aap can also initiate its own small series production, which will enable an adequate level of sales. Doctors and clinics that took part in the study have already signalled great interest in the product. Depending on funding commitments or licence agreements with strategic market participants, the scope of product approvals and production capacities can be expanded considerably.
------------------------------------------------------------------------------------------------------------------------------------------- aap Implantate AG (ISIN DE0005066609) - General Standard/Regulated Market - All German stock exchanges -
About aap Implantate AG aap Implantate AG is a globally active medical technology company based in Berlin, Germany. The company develops, produces and markets products for traumatology. In addition to the innovative LOQTEQ® anatomical plate system, the IP-protected portfolio includes a wide range of cannulated screws. In addition, aap Implantate AG has an innovation pipeline with promising development projects such as antibacterial silver coating technology and magnesium-based implants. These technologies address critical problems in traumatology that have not yet been adequately solved. In Germany, aap Implantate AG sells its products directly to hospitals, purchasing groups and group clinics, while internationally it primarily utilises a broad network of distributors in around 25 countries. In the USA, the company utilises a hybrid sales strategy through its subsidiary aap Implants Inc. Sales are conducted both via distribution agents and through partnerships with global orthopaedic companies. The aap Implantate AG share is listed in the General Standard segment of the Frankfurt Stock Exchange (XETRA: AAQ.DE). For further information, please visit our website at www.aap.de.
The figures presented in this press release may be subject to technical rounding differences that do not affect the overall picture.
Forward-looking statements This release may contain forward-looking statements that are based on the current expectations, assumptions and forecasts of the Executive Board and information currently available to it. The forward-looking statements are not to be understood as guarantees of the future developments and results mentioned therein. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual results, financial situation, development or performance of the company and the estimates given here. These factors include those that aap has described in published reports. Forward-looking statements therefore only apply on the date on which they are made. We assume no obligation to update the forward-looking statements made in this release or to adapt them to future events or developments.
Contact: aap Implantate AG; Rubino Di Girolamo; Chairman of the Management Board/ CEO; Lorenzweg 5; 12099 Berlin 24.09.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 019-0 |
Fax: | +49 (0) 30 75 019-111 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1994765 |
End of News | EQS News Service |
aap Implantate AG: annual financial statements 2023 characterized by the difficult economic environment and restructuring measures introduced, good operational progress
aap Implantate AG: annual financial statements 2023 characterized by the difficult economic environment and restructuring measures introduced, good operational progress
EQS-News: aap Implantate AG / Key word(s): Annual Report Financial year 2023 got off to a promising start for aap Implantate AG ("aap" or "Company"). Sales increased in all regions and exceeded the previous year's figures. The initial upswing lost momentum and the outlook in aap's sales markets gradually deteriorated due to financial difficulties in the healthcare sector and uncertainties about further economic development in the various regions. Many distributors reduced their inventories in order to counteract the higher financing costs, extended payment cycles and uncertainties. The planned sales in new markets could not be realised due to delays in approvals caused by the establishment of new health authorities in the respective countries, the replacement of authorities due to accusations of corruption or new requirements. These circumstances led to overall disappointing annual sales at the previous year's level. 2023/2022 - Turnover
In contrast to the markets, a great deal of progress was made in the operational area. The optimisation projects continued in 2022 and 2023 resulted in full delivery capability and timely delivery to our customers. We were also able to reduce electricity consumption by 13% per unit produced by increasing efficiency. The MDD surveillance audit carried out at the end of 2023 together with ISO 13485 recertification was successfully completed. In view of the important transition from the current Medical Device Directive 93/42/EEC (MDD) to the Medical Device Regulation MDR (EU 2017/745), the company was able to drive the process forward with the newly appointed Notified Body for the MDR and is sticking to its plan to have completed the transition by the end of 2024. Due to the repeated weak sales, aap had to implement a further restructuring programme. This is intended to ensure that the sustained lower level of sales in the operating business no longer results in losses and that the break-even point can be reached within two years in order to ensure the self-financing of the operating business. For a detailed evaluation of the Management Agenda 2023, aap refers to the consolidated annual financial report 2023 published today. Key financial figures
EBITDA 2023/2022
EBITDA deteriorated in the 2023 financial year; the originally expected target values for the 2023 financial year of between EUR -2.5 million and EUR -1.7 million could not be achieved. Recruiting EBITDA 2023/2022
Based on the valuation calculations used to date, recurring EBITDA is within the guidance last communicated in December 2023. The following developments were decisive for the change in EBITDA:
Cash flow
As a result of the developments already mentioned, aap's operating cash flow also deteriorated in the financial year 2023 compared to the previous year. In the financial area, a number of revaluations and reclassifications had to be carried out as part of the work on the financial statements, which led to delays. Some of these measures resulted in high one-off corrections, some of which had a negative impact on EBITDA. This is reflected in the result of recurring EBITDA, which shows a slight improvement compared to the 2022 financial year. The fact that the company was threatened with the payment of a six-figure penalty as a result of the delay in the preparation of the financial statements and that the main audit procedures had been completed led to the decision to terminate the audit, accepting a failure note due to an audit impediment. The Executive Board will work with all available resources to eliminate the audit impediment in order to remove it for the 2024 annual and consolidated financial statements. The adopted annual financial statements and the approved consolidated financial statements including the summarized management report for the individual and consolidated financial statements as well as the report of the Supervisory Board and the explanatory report on the disclosures pursuant to Sections 289a and 315a HGB for the 2023 financial year will be presented respective proposed for resolution together with the resolutions on the discharge of the Executive Board and the Supervisory Board for the 2023 financial year on the agenda of the 2025 Annual General Meeting. Outlook aap aims to set positive trends in terms of sales and earnings in financial year 2024. The investments in sales initiated in previous years form the basis for the planned increase in sales in 2024. The human clinical trial for the innovative antibacterial silver implant technology, which was continued in 2023 with the modified study protocol, was able to recruit more than one hundred patients by the end of 2023; as of today, there are already 203 patients. Under the leadership of the University Hospital Regensburg, Prof. Dr Alt, fifteen study centers were involved. The change in the study protocol achieved the desired effect of accelerating patient recruitment and generating the necessary data. An above-average success rate was achieved by the end of 2023, which should lead to a reduction in patient recruitment (a corresponding application has been submitted). This means that phase 2 of development could be completed in the course of 2024 and aap will be able to start phase 3 (approval). For this and for the industrialization of the technology, aap will have to raise the necessary funding. Financing can also be provided both through additional funding and through development partnerships with companies from application areas outside traumatology. In addition, a key focus will be on the planned implementation of activities to achieve certification in accordance with the new EU Medical Device Regulation (MDR 2017/745/EU) within the transition period until 2024. Not included in the following forecast statements:
The Executive Board is forecasting sales of between EUR 11.5 million and EUR 13.5 million for the 2024 financial year and is on track with the sales of EUR 6.4 million achieved in the first half of 2024. With regard to earnings, the Executive Board is sticking to the EBITDA of between EUR -2.5 million and EUR -1.4 million communicated for the 2024 financial year. Even though the EBITDA result was exceeded in the first half of 2024, the Management Board will initially monitor the further project costs for the implementation of the human clinical trial of its antibacterial implant technology and the associated further activities and re-evaluate the guidance at a later date.
------------------------------------------------------------------------------------------------------------------------------------------- aap Implantate AG (ISIN DE0005066609) - General Standard/Regulated Market - All German stock exchanges -
About aap Implantate AG aap Implantate AG is a globally active medical technology company based in Berlin, Germany. The company develops, produces and markets products for traumatology. In addition to the innovative LOQTEQ® anatomical plate system, the IP-protected portfolio includes a wide range of cannulated screws. In addition, aap Implantate AG has an innovation pipeline with promising development projects such as antibacterial silver coating technology and magnesium-based implants. These technologies address critical problems in traumatology that have not yet been adequately solved. In Germany, aap Implantate AG sells its products directly to hospitals, purchasing groups and group clinics, while internationally it primarily utilises a broad network of distributors in around 25 countries. In the USA, the company utilises a hybrid sales strategy through its subsidiary aap Implants Inc. Sales are conducted both via distribution agents and through partnerships with global orthopaedic companies. The aap Implantate AG share is listed in the General Standard segment of the Frankfurt Stock Exchange (XETRA: AAQ.DE). For further information, please visit our website at www.aap.de.
There may be technical rounding differences in the figures presented in this press release that do not affect the overall statement. All key financial figures with reference to the balance sheet date of 31 December 2023 in the published consolidated interim report as at 30 June 2024 are preliminary and unaudited. The business figures for 2023 will be confirmed at a later date with the publication of the 2023 annual financial statements.
Forward-looking statements This release may contain forward-looking statements that are based on the current expectations, assumptions and forecasts of the Executive Board and information currently available to it. The forward-looking statements are not to be understood as guarantees of the future developments and results mentioned therein. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual results, financial situation, development or performance of the company and the estimates given here. These factors include those that aap has described in published reports. Forward-looking statements therefore only apply on the date on which they are made. We assume no obligation to update the forward-looking statements made in this release or to adapt them to future events or developments.
If you have any queries, please contact: aap Implantate AG; Rubino Di Girolamo, Chairman of the Management Board/ CEO, Lorenzweg 5; 12099 Berlin Phone: +49 (0)30 75019 - 170; Fax: +49 (0)30 75019 - 290; Email: r.digirolamo@aap.de 23.08.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 019-0 |
Fax: | +49 (0) 30 75 019-111 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1974315 |
End of News | EQS News Service |
Half-year financial statements close with balanced EBITDA, Trauma with positive EBITDA
Half-year financial statements close with balanced EBITDA, Trauma with positive EBITDA
EQS-News: aap Implantate AG / Key word(s): Half Year Results
H1/2024 - Key financial figures*
EBITDA H1/2024
aap thus realized a significantly improved EBITDA of EUR ‑0.0 million in the first half of 2024 compared to the same period of the previous year (H1/2023: EUR ‑1.0 million). The following developments were decisive for the result:
Cash flow
aap's operating cash flow improved by 34% year-on-year in the first half of 2024 to EUR 1.0 million at‑ , mainly due to the improved operating result. Cash flow from investing activities showed an outflow of EUR 0.0 million in H1/2024, with investments in development projects accounting for EUR 22 thousand (H1/2023: EUR 59 thousand). In the area of financing activities, there was a cash inflow totaling EUR 0.5 million in the first half of 2024 (H1/2023: cash inflow of EUR 2.8 million), which was primarily due to the cash inflow from the capital increase in the net amount of EUR 1.0 million, taking out a shareholder loan of EUR 0.3 million, the repayment of financial liabilities and shareholder loans in the amount of EUR 0.6 million (H1/2023: EUR 0.5 million) and the payment of interest in the amount of EUR 133 thousand (H1/2023: EUR 80 thousand). As a result, cash and cash equivalents decreased to EUR 0.8 million at the end of the second quarter. Net debt (total cash and cash equivalents less all interest-bearing liabilities) amounted to EUR 1.2 million as at June 30, 2024 (December 31, 2023: EUR 1.8 million). Outlook Not included in the following forecast statements:
In the second half of 2024, the focus will be on stabilizing aap's financial situation in order to finance the next stage of its activities in antibacterial implant technology, completing patient recruitment for the human clinical trial for the innovative antibacterial implant technology, starting the approval documentation and submitting applications to the EIC program and the upcoming MDR audit. In terms of revenue, the Management Board expects revenue for the second half of 2024 to remain the same as in the first six months and expects to achieve the planned revenue level of between EUR 11.5 million and EUR 13.5 million for the 2024 financial year. Taking into account the full project costs for the further implementation of the human clinical trial for the antibacterial implant technology, the Management Board expects EBITDA for the 2024 financial year to be between EUR -2.5 million and EUR -1.4 million.
------------------------------------------------------------------------------------------------------------------------------------------- aap Implantate AG (ISIN DE0005066609) - General Standard/Regulated Market - All German stock exchanges -
About aap Implantate AG aap Implantate AG is a globally active medical technology company based in Berlin, Germany. The company develops, produces and markets products for traumatology. The IP-protected portfolio includes the innovative anatomical plate system LOQTEQ® and a wide range of cannulated screws. In addition, aap Implantate AG has an innovation pipeline with promising development projects such as antibacterial silver coating technology and magnesium-based implants. These technologies address critical problems in traumatology that have not yet been adequately solved. In Germany, aap Implantate AG sells its products directly to hospitals, purchasing groups and group clinics, while internationally it primarily uses a broad network of distributors in around 25 countries. In the USA, the company relies on a hybrid sales strategy through its subsidiary aap Implants Inc. Sales are conducted both through distribution agents and through partnerships with global orthopedic companies. The aap Implantate AG share is listed in the General Standard of the Frankfurt Stock Exchange (XETRA: AAQ.DE). For further information, please visit our website at www.aap.de.
There may be technical rounding differences in the figures presented in this press release that do not affect the overall statement. All key financial figures with reference to the balance sheet date of December 31, 2023 in the published consolidated interim report as at June 30, 2024 are preliminary and unaudited. The business figures for 2023 will be confirmed at a later date with the publication of the 2023 annual financial statements.
Forward-looking statements This release may contain forward-looking statements that are based on the current expectations, assumptions and forecasts of the Executive Board and information currently available to it. The forward-looking statements are not to be understood as guarantees of the future developments and results mentioned therein. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual results, financial situation, development or performance of the company and the estimates given here. These factors include those that aap has described in published reports. Forward-looking statements therefore speak only as of the date on which they are made. We assume no obligation to update the forward-looking statements made in this release or to adapt them to future events or developments.
If you have any questions, please contact: aap Implantate AG; Rubino Di Girolamo, Chairman of the Management Board/ CEO, Lorenzweg 5; 12099 Berlin Phone: +49 (0)30 75019 - 170; Fax: +49 (0)30 75019 - 290; Email: r.digirolamo@aap.de
Contact: Contact: aap Implantate AG; Fabian Franke; Investor Relations; Lorenzweg 5; D-12099 Berlin Tel.: ++49/30/750 19 - 134; Fax.: ++49/30/750 19 - 290; f.franke@aap.de 14.08.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 019-0 |
Fax: | +49 (0) 30 75 019-111 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1968379 |
End of News | EQS News Service |
Sales growth Q2/2024 +14 % and H1/2024 +10 % compared to previous year; positive development in all operating areas
Sales growth Q2/2024 +14 % and H1/2024 +10 % compared to previous year; positive development in all operating areas
EQS-News: aap Implantate AG / Key word(s): Quarterly / Interim Statement/Preliminary Results
aap Implantate AG ("aap" or "Company") continued its growth in the second quarter. In the EMEA region, aap was able to significantly increase the overall result for the first half of the year, mainly due to an order from an aid organization in the second quarter. At the same time, existing markets such as Spain/Portugal (+41% yoy), South Africa (+9% yoy) and smaller countries in the Middle East achieved up to double-digit growth rates. The effects of the reorganization in the USA, which were highlighted in the first quarter, could not be offset in the second quarter, meaning that sales were down 22% on the previous year in the first half of the year. Positive developments in customer acquisition as well as a well-filled project pipeline make the Management Board confident that this decline can be made up for over the course of the year through the continued focused work of the reorganized and growing team. In Latin America, after a strong first quarter, which was primarily characterized by investments in aap systems to equip new customers, growth continued in the second quarter. In addition to Brazil (+67% yoy) and Mexico (+23% yoy), aap's largest sales markets, other markets such as Colombia (+39% yoy) also grew in terms of sales. In the APAC region, the customer base was expanded to include new customers, meaning that further future growth is expected in the region.
Q2/2024 - Turnover
Half-year 2024 - Turnover
The company is making great progress in the ongoing human clinical trial with the antibacterial implant technology and has recruited 200 patients to date. Due to the continued very positive progress of the study, aap applied to the approving body to be able to complete patient recruitment in mid-2024. If approved, the 12-month follow-up phase with the last patient included could be completed earlier than originally planned. At the beginning of July, aap received the positive news that the first hurdle in the application for funding and investment under the European Horizon program (EIC Accelerator) had been successfully overcome and that the company could submit a full application for its antibacterial implant technology in a further step. A positive assessment of the full application would open the possibility that the European Investment Bank could invest in aap in 2025 and provide significant support for the investments required for the transformation. The German Federal Ministry of Education and Research ("BMBF") is funding the clinical study. The grant awarded to the company (funding codes 13GW0313A+B, 13GW0449A+B) is part of the BMBF's "Healthcare industry in the healthcare research framework program" (= funding body). According to the BMBF, funding is provided for projects on the topic of "Transferring medical technology solutions to patient care - proving clinical evidence without delay". For further information, please refer to the relevant guidelines on the BMBF website: https://www.bmbf.de/foerderungen/bekanntmachung-1376.html. The company also made significant progress towards MDR approval. In the first few months, all main product files required for the MDR were submitted to the notified body. A first main product file was positively reviewed by the notified body in accordance with the MDR at the end of June. The company remains committed to its plan to complete MDR approval by the end of 2024 and thus launch new products on the CE market in 2025. As part of aap's further product development activities, the company also received US FDA approval for its double-threaded compression screws in the first half of the year and can begin preparations for market launch activities in the United States and other markets that accept FDA approval for 2025 in the second half of the year. The detailed half-year report will be published on August 14, 2024. ------------------------------------------------------------------------------------------------------------------------------------------- aap Implantate AG (ISIN DE0005066609) - General Standard/Regulated Market - All German stock exchanges -
About aap Implantate AG aap Implantate AG is a globally active medical technology company based in Berlin, Germany. The company develops, produces and markets products for traumatology. The IP-protected portfolio includes the innovative anatomical plate system LOQTEQ® and a wide range of cannulated screws. In addition, aap Implantate AG has an innovation pipeline with promising development projects such as antibacterial silver coating technology and magnesium-based implants. These technologies address critical problems in traumatology that have not yet been adequately solved. In Germany, aap Implantate AG sells its products directly to hospitals, purchasing groups and group clinics, while internationally it primarily uses a broad network of distributors in around 25 countries. In the United States, the company relies on a sales strategy via distribution agents through its subsidiary aap Implants Inc. The aap Implantate AG share is listed in the General Standard of the Frankfurt Stock Exchange (XETRA: AAQ.DE). For further information, please visit our website at www.aap.de. The figures presented in this press release may be subject to technical rounding differences that do not affect the overall picture. Forward-looking statements This release may contain forward-looking statements that are based on the current expectations, assumptions and forecasts of the Executive Board and information currently available to it. The forward-looking statements are not to be understood as guarantees of the future developments and results mentioned therein. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual results, financial situation, development or performance of the company and the estimates given here. These factors include those that aap has described in published reports. Forward-looking statements therefore speak only as of the date on which they are made. We assume no obligation to update the forward-looking statements made in this release or to conform them to future events or developments. If you have any questions, please contact: aap Implantate AG; Rubino Di Girolamo, Chairman of the Management Board/ CEO, Lorenzweg 5; 12099 Berlin Phone: +49 (0)30 75019 - 170; Fax: +49 (0)30 75019 - 290; Email: r.digirolamo@aap.de
15.07.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 019-0 |
Fax: | +49 (0) 30 75 019-111 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1945717 |
End of News | EQS News Service |
Amendment of the terms and conditions of the bond completed; Bondholders can convert bonds into shares
Amendment of the terms and conditions of the bond completed; Bondholders can convert bonds into shares
EQS-News: aap Implantate AG / Key word(s): Bond Notice to the Holders of the Mandatory Convertible Bond 2023/2028 (ISIN: DE000A351ZH9 / WKN: A351ZH)
aap Implantate AG announces today that the resolution adopted in the vote held without a meeting from March 26, 2024, to March 28, 2024, to cancel the vesting period regarding the conversion of the bonds and to allow a first-time conversion right in the period of 14 days before May 31, 2024, has become effective. After the expiry of the statutory challenge period, the resolution on the amendment of the terms and conditions of the Bonds ("Bond Terms") was deposited with the depositary Clearstream Banking Frankfurt and attached to the global certificate. The announcement of the completion of the terms and conditions of the bond is also expected to be published in the Federal Gazette on 24 May 2024. As a result of the change in the terms and conditions of the bonds, the bondholders are now entitled to convert their bonds into shares of aap Implantate AG during the exercise period in accordance with the terms and conditions of the bond. The last exercise day of the actual exercise period is Wednesday, May 29, 2024. In order to exercise the conversion right, the bondholder must submit a duly completed and signed declaration to the conversion agent or its custodian bank during normal business hours on a business day using a form available on the website of aap Implantate AG under https://www.aap.de/investoren/wandelschuldverschreibung . Declarations of exercise are irrevocable. The exercise of the conversion right is subject to the delivery of the bonds for which the conversion right is to be exercised to the conversion agent no later than 29 May 2024, namely by delivery (transfer) of the bonds to the account of the conversion agent at Clearstream Frankfurt.
IMPORTANT INFORMATION THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE AN OFFER OR SOLICITATION OF AN OFFER TO BUY OR SUBSCRIBE FOR ANY SECURITIES. THE DISTRIBUTION OF THIS ANNOUNCEMENT MAY BE SUBJECT TO LEGAL RESTRICTIONS IN CERTAIN JURISDICTIONS. PERSONS READING THIS NOTICE MUST INFORM THEMSELVES ABOUT THESE RESTRICTIONS AND COMPLY WITH THESE RESTRICTIONS
------------------------------------------------------------------------------------------------------------------------------------------- aap Implantate AG (ISIN DE0005066609) - General Standard/Regulated Market - All German Stock Exchanges –
About aap Implantate AG aap Implantate AG is a global medical technology company headquartered in Berlin, Germany. The company develops, manufactures, and markets products for traumatology. In addition to the innovative anatomical plate system LOQTEQ®, the IP-protected portfolio includes a wide range of perforated screws. In addition, aap Implantate AG has an innovation pipeline with promising development projects, such as antibacterial silver coating technology and magnesium-based implants. These technologies address critical and not yet adequately solved problems in traumatology. In Germany, aap Implantate AG sells its products directly to hospitals, purchasing groups and affiliated clinics, while on an international level, it primarily uses a broad network of distributors in around 25 countries. In the USA, the company and its subsidiary aap Implants Inc. are focusing on a sales strategy via distribution agents. The shares of aap Implantate AG are listed in the General Standard of the Frankfurt Stock Exchange (XETRA: AAQ.DE). For more information, please visit our website at www.aap.de.
There may be technical rounding differences in the figures presented in this press release, which do not affect the overall statement.
Forward-Looking Statements This release may contain forward-looking statements based on the current expectations, assumptions and forecasts of the Management Board and information currently available to it. The forward-looking statements are not to be understood as guarantees of future developments and results referred to therein. Various known and unknown risks, uncertainties and other factors could cause the actual results, financial condition, development, or performance of the Company to differ materially from the estimates given herein. These factors also include those described by aap in published reports. Forward-looking statements therefore speak only as of the date on which they are made. We undertake no obligation to update the forward-looking statements made in this release or to conform them to future events or developments.
If you have any questions, please contact: aap Implantate AG; Rubino Di Girolamo, Chairman/ CEO, Lorenzweg 5; 12099 Berlin. Tel.: +49 (0)30 75019 – 170; Fax: +49 (0)30 75019 – 290; Email: r.digirolamo@aap.de 23.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 019-0 |
Fax: | +49 (0) 30 75 019-111 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1910167 |
End of News | EQS News Service |
aap closes Q1 2024 with sales growth of 5.6% and positive developments at all operating levels and makes a strong start to Q2 2024
aap closes Q1 2024 with sales growth of 5.6% and positive developments at all operating levels and makes a strong start to Q2 2024
EQS-News: aap Implantate AG / Key word(s): Quarter Results/Development of Sales
aap Implantate AG ("aap" or "Company") continued its good start into the new year. The regions LATAM and APAC contributed significantly to growth.
Q1/2024 – Sales
In the EMEA region, aap achieved double-digit growth, particularly in South Africa (+21% year-on-year), Spain/Portugal (+11% year-on-year) and Germany (+11% year-on-year). An order placed from the Middle East had to be postponed to Q2 2024 at the customer's request, meaning that the EMEA region cannot report any growth. As a result of the reorganization in North America, unprofitable sales were eliminated, resulting in a decline of ~18% compared to the previous year for the first quarter. The Management Board is confident that this decline will be made up for over the course of the year through the continued focused work of the newly established team and new customers. In Latin America, investments in aap systems to equip new customers led to a larger order volume compared with the same quarter of the previous year, particularly in Brazil and Mexico. These investment orders contributed significantly to the strong growth in the region. aap is confident that the investments in aap systems made in Q1 2024 will sustainably strengthen the business in the region. In the APAC region, existing and new customers also invested in further aap systems.
The Company is making great progress in the ongoing human clinical trial with the antibacterial implant technology and has recruited almost 160 patients to date. Due to the continued very positive progress of the study, there is currently the possibility of significantly reducing the number of patients to be recruited and completing the recruitment phase as early as the middle of this year. This would enable an earlier completion of the follow-up phase and an earlier start to the approval and industrialization phase. This step will again require substantial funds, which the Company will raise together with renowned industry partners and private investors.
The German Federal Ministry of Education and Research ("BMBF") is funding the clinical trial. The grant awarded to the company (funding codes 13GW0313A+B, 13GW0449A+B) is part of the BMBF's "Healthcare industry in the healthcare research framework program" field of action (= funding body). According to the BMBF, projects on the topic of "Transferring medical technology solutions to patient care - proving clinical evidence without delay" are being funded. For further information, please refer to the relevant guideline on the BMBF website: https://www.bmbf.de/foerderungen/bekanntmachung-1376.html.
The Company also made significant progress towards MDR authorization. Several main product files were submitted to the notified body in the first few months. aap remains committed to its plan to finalize MDR approval by the end of 2024. In the financial/legal area, a partial authorization of shares was completed, a vote without a meeting to lift the lock-up period for investors was carried out with 100% success and a 10% capital increase excluding subscription rights was placed at a premium of 37.5%. Due to personnel bottlenecks in the finance department combined with a new auditing company, the annual financial statements could not be finalized as planned and publication had to be postponed.
The second quarter started with a good order basis due to a major order from an international organization and the postponement of orders placed in Q1 2024. The Management Board therefore remains confident about the Company's positive development in 2024. ------------------------------------------------------------------------------------------------------------------------------------------- aap Implantate AG (ISIN DE0005066609) - General Standard/Regulated Market - All German stock exchanges -
About aap Implantate AG aap Implantate AG is a globally active medical technology company based in Berlin, Germany. The company develops, produces and markets products for traumatology. In addition to the innovative LOQTEQ® anatomical plate system, the IP-protected portfolio includes a wide range of cannulated screws. In addition, aap Implantate AG has an innovation pipeline with promising development projects such as antibacterial silver coating technology and magnesium-based implants. These technologies address critical problems in traumatology that have not yet been adequately solved. In Germany, aap Implantate AG sells its products directly to hospitals, purchasing groups and group clinics, while internationally it primarily uses a broad network of distributors in around 25 countries. In the United States, the company relies on a sales strategy via distribution agents through its subsidiary aap Implants Inc. The aap Implantate AG share is listed in the General Standard of the Frankfurt Stock Exchange (XETRA: AAQ.DE). For further information, please visit our website at www.aap.de. The figures presented in this press release may be subject to technical rounding differences that do not affect the overall picture.
Forward-looking statements This release may contain forward-looking statements that are based on the current expectations, assumptions and forecasts of the Executive Board and information currently available to it. The forward-looking statements are not to be understood as guarantees of the future developments and results mentioned therein. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual results, financial situation, development or performance of the company and the estimates given here. These factors include those that aap has described in published reports. Forward-looking statements therefore speak only as of the date on which they are made. We assume no obligation to update the forward-looking statements made in this release or to conform them to future events or developments. If you have any questions, please contact: aap Implantate AG; Rubino Di Girolamo, Chairman of the Management Board/ CEO, Lorenzweg 5; 12099 Berlin Phone: +49 (0)30 75019 - 170; Fax: +49 (0)30 75019 - 290; Email: r.digirolamo@aap.de
22.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 019-0 |
Fax: | +49 (0) 30 75 019-111 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1885219 |
End of News | EQS News Service |
aap successfully places a 10% capital increase from authorized capital at EUR 1.10 with exclusion of subscription rights
aap successfully places a 10% capital increase from authorized capital at EUR 1.10 with exclusion of subscription rights
EQS-News: aap Implantate AG / Key word(s): Capital Increase
aap Implantate AG ("aap" or "Company") successfully completed the 10% capital increase announced on March 18, 2024 with exclusion of subscription rights at a placement price of EUR 1.10, which corresponds to a premium of 37.5%. The company will thus receive liquid funds of EUR 986,311.70. This cash inflow will strengthen the company's own resources for the ongoing human clinical trial of the innovative antibacterial implant technology. The investors have also already signaled that they will provide further funds if business develops positively. ------------------------------------------------------------------------------------------------------------------------------------------- aap Implantate AG (ISIN DE0005066609) - General Standard/Regulated Market - All German stock exchanges -
About aap Implantate AG aap Implantate AG is a globally active medical technology company based in Berlin, Germany. The company develops, produces and markets products for traumatology. In addition to the innovative LOQTEQ® anatomical plate system, the IP-protected portfolio includes a wide range of cannulated screws. In addition, aap Implantate AG has an innovation pipeline with promising development projects such as antibacterial silver coating technology and magnesium-based implants. These technologies address critical problems in traumatology that have not yet been adequately solved. In Germany, aap Implantate AG sells its products directly to hospitals, purchasing groups and group clinics, while internationally it primarily uses a broad network of distributors in around 25 countries. In the United States, the company relies on a sales strategy via distribution agents through its subsidiary aap Implants Inc. The aap Implantate AG share is listed in the General Standard of the Frankfurt Stock Exchange (XETRA: AAQ.DE). For further information, please visit our website at www.aap.de. The figures presented in this press release may be subject to technical rounding differences that do not affect the overall picture.
Forward-looking statements This release may contain forward-looking statements that are based on the current expectations, assumptions and forecasts of the Executive Board and information currently available to it. The forward-looking statements are not to be understood as guarantees of the future developments and results mentioned therein. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual results, financial situation, development or performance of the company and the estimates given here. These factors include those that aap has described in published reports. Forward-looking statements therefore speak only as of the date on which they are made. We assume no obligation to update the forward-looking statements made in this release or to conform them to future events or developments.
If you have any questions, please contact: Phone: +49 (0)30 75019 - 170; Fax: +49 (0)30 75019 - 290; Email: r.digirolamo@aap.de
19.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 019-0 |
Fax: | +49 (0) 30 75 019-111 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1884191 |
End of News | EQS News Service |
aap 100% approval of the proposed resolution to amend the terms and conditions of the mandatory convertible bond 2023/2028
aap 100% approval of the proposed resolution to amend the terms and conditions of the mandatory convertible bond 2023/2028
EQS-News: aap Implantate AG / Key word(s): Financing
aap Implantate AG ("aap" or "Company") successfully completed the vote without a meeting of bondholders on an amendment to the terms and conditions of the Bonds with an approval of 100% of the votes cast and the nominal value of the Bonds. 86.03% of the nominal amount and the votes of all outstanding bonds participated in the vote. The company thanks the creditors for this strong result and their support of the company. The main amendment to the terms and conditions of the bond relates to the option of granting bondholders the right to elect conversion without observing a lock-up period and also to grant them the right to exercise their conversion right for the first time as early as May 2024.
------------------------------------------------------------------------------------------------------------------------------------------- aap Implantate AG (ISIN DE0005066609) - General Standard/Regulated Market - All German stock exchanges -
About aap Implantate AG aap Implantate AG is a globally active medical technology company based in Berlin, Germany. The company develops, produces and markets products for traumatology. In addition to the innovative LOQTEQ® anatomical plate system, the IP-protected portfolio includes a wide range of cannulated screws. In addition, aap Implantate AG has an innovation pipeline with promising development projects such as antibacterial silver coating technology and magnesium-based implants. These technologies address critical problems in traumatology that have not yet been adequately solved. In Germany, aap Implantate AG sells its products directly to hospitals, purchasing groups and group clinics, while internationally it primarily utilises a broad network of distributors in around 25 countries. In the USA, the company relies on a sales strategy with its subsidiary aap Implants Inc. via distribution agents. The aap Implantate AG share is listed in the General Standard segment of the Frankfurt Stock Exchange (XETRA: AAQ.DE). For further information, please visit our website at www.aap.de. The figures presented in this press release may be subject to technical rounding differences that do not affect the overall picture.
Forward-looking statements This release may contain forward-looking statements that are based on the current expectations, assumptions and forecasts of the Executive Board and information currently available to it. The forward-looking statements are not to be understood as guarantees of the future developments and results mentioned therein. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual results, financial situation, development or performance of the company and the estimates given here. These factors include those that aap has described in published reports. Forward-looking statements therefore only apply on the date on which they are made. We assume no obligation to update the forward-looking statements made in this release or to adapt them to future events or developments. Contact: aap Implantate AG; aap Implantate AG; Rubino Di Girolamo, Chairman of the Management Board/ CEO, Lorenzweg 5; 12099 Berlin 03.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 019-0 |
Fax: | +49 (0) 30 75 019-111 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1872751 |
End of News | EQS News Service |
After a mixed 2023 financial year, aap makes a strong start to the 2024 financial year
After a mixed 2023 financial year, aap makes a strong start to the 2024 financial year
EQS-News: aap Implantate AG / Key word(s): Interim Report/Corporate Action
In the past financial year, aap Implantate AG ("aap" or "Company") was able to significantly accelerate patient recruitment with the realignment of the world's first clinical human study for its innovative antibacterial implant technology. At the same time, the number of predefined, product-related incidents has so far been significantly lower than assumed values, which, if the results remain the same, would enable early completion of patient recruitment in mid-2024 and thus the completion of the study after the end of the follow-up period in mid-2025. Building on these promising developments, aap will continue its efforts to attract significant third-party funding for the industrial expansion of the technology in the 2024 financial year. After a mixed 2023 financial year in the LOQTEQ® trauma division, aap was able to make a positive start to the new 2024 financial year. In January, sales in Germany increased significantly by 30% compared to sales in January 2023. International business was up 10% year-on-year and the U.S. stayed within budget for Q1 with the aim of increasing profitability and consolidating sales. With the conclusion of a distribution agreement with a leading global medical technology company and supplier of products in the field of spine treatment and orthopedics for the French market with the highest-selling system LOQTEQ® VA-Radius system, a further step in the sustainable sales development could be made. Due to the difficult forecast for annual sales, aap is cautiously optimistic about sales in 2024 of between EUR 11.5 million and EUR 13.0 million. In the operational area, the looming delay in MDR certification could be used for a successful re-certification according to ISO 13485 and monitoring under MDD. The process with the Notified Body for MDR certification has been started and is expected to be completed in 2024 according to the timetable agreed with the Notified Body. To strengthen the liquidity base, aap evaluates the timely implementation of an initial capital measure. These and other measures are primarily necessary to finance the ongoing activities for aap's antibacterial implant technology, which is causing increased costs due to the acceleration, and secondarily to manage the additional burdens in the trauma business due to the MDR changeover. The clinical trial is funded by the German Federal Ministry of Education and Research ("BMBF"). The grant granted to the company (funding code 13GW0313A+B, 13GW0449A+B) is part of the BMBF's field of action "Healthcare Economy in the Health Research Framework Program" (= funding body). According to the BMBF, projects on the topic of "Transferring medical technology solutions into patient care - proving clinical evidence without delay" will be funded. For further information, please refer to the corresponding guideline on the BMBF website: https://www.bmbf.de/foerderungen/bekanntmachung-1376.html.
------------------------------------------------------------------------------------------------------------------------------------------- aap Implantate AG (ISIN DE0005066609) - General Standard/Regulated Market - All German Stock Exchanges –
About aap Implantate AG aap Implantate AG is a global medical technology company headquartered in Berlin, Germany. The company develops, manufactures and markets products for traumatology. In addition to the innovative anatomical plate system LOQTEQ®, the IP-protected portfolio includes a wide range of perforated screws. In addition, aap Implantate AG has an innovation pipeline with promising development projects, such as antibacterial silver coating technology and magnesium-based implants. These technologies address critical problems in traumatology that have not yet been adequately solved. In Germany, aap Implantate AG sells its products directly to hospitals, purchasing groups and affiliated clinics, while on an international level it primarily uses a broad network of distributors in around 25 countries. In the U.S., the company and its subsidiary aap Implants Inc. are pursuing a hybrid sales strategy. Distribution is carried out both through distribution agents and through partnerships with global orthopaedic companies. The shares of aap Implantate AG are listed in the General Standard of the Frankfurt Stock Exchange (XETRA: AAQ.DE). For more information, please visit our website at www.aap.de. The figures presented in this press release may be subject to technical rounding differences that do not affect the overall statement. Forward-Looking Statements This release may contain forward-looking statements that are based on the current expectations, assumptions and forecasts of the Management Board and information currently available to it. The forward-looking statements are not guarantees of future developments and results. Various known and unknown risks, uncertainties and other factors may cause the actual results, financial position, development or performance of the Company to differ materially from the estimates given herein. These factors also include those described by aap in published reports. Forward-looking statements speak only as of the date on which they are made. We undertake no obligation to update the forward-looking statements contained in this release or to conform them to future events or developments. If you have any questions, please contact: aap Implantate AG; Rubino Di Girolamo, CEO, Lorenzweg 5; 12099 Berlin Tel.: +49 (0)30 75019 – 170; Fax: +49 (0)30 75019 – 290; Email : r.digirolamo@aap.de
15.02.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 019-0 |
Fax: | +49 (0) 30 75 019-111 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1838201 |
End of News | EQS News Service |
aap concludes distribution agreement for LOQTEQ® VA Radius System with leading global spine and orthopedics company
aap concludes distribution agreement for LOQTEQ® VA Radius System with leading global spine and orthopedics company
EQS-News: aap Implantate AG / Key word(s): Alliance aap Implantate AG (“aap”) announces the conclusion of a distribution agreement for its LOQTEQ® VA Radius System with a leading global spine and orthopedics company. The distribution agreement for the LOQTEQ® VA Radius System, the top selling product of aap`s anatomical plates and screws portfolio, is exclusively distributed in the entire territory of France and has a five-year term with a renewal option and an expected business volume of around EUR 2.0 – 2.5 million for the initial term with potential upsides. The conclusion of the agreement represents further important progress in the aimed distribution focus in established markets and will sustainably strengthen the planned sales growth.
------------------------------------------------------------------------------------------------------------------------------------------- aap Implantate AG (ISIN DE0005066609) - General Standard/Regulated Market - All German Stock Exchanges -
About aap Implantate AG aap Implantate AG is a globally active medical technology company headquartered in Berlin, Germany. The company develops, manufactures and markets products for traumatology. In addition to the innovative anatomical plate system LOQTEQ®, the IP-protected portfolio includes a wide range of cannulated screws. In addition, aap Implantate AG has an innovation pipeline with promising development projects such as antibacterial silver coating technology and magnesium-based implants. These technologies address critical problems in traumatology that have not yet been adequately solved. In Germany, aap Implantate AG sells its products directly to hospitals, purchasing groups and group clinics, while at international level it primarily uses a broad network of distributors in around 25 countries. In the USA, the company relies on a hybrid sales strategy through its subsidiary aap Implants Inc. This involves sales both via distribution agents and as part of partnerships with global orthopedic companies. The aap Implantate AG share is listed in the General Standard of the Frankfurt Stock Exchange (XETRA: AAQ.DE). For further information, please visit our website at www.aap.de.
The figures presented in this press release may be subject to technical rounding differences which do not affect the overall presentation.
Forward-looking statements This release may contain forward-looking statements based on current expectations, beliefs and projections of the Management Board and currently available information. The forward-looking statements are not guarantees of future performance or results. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in aap's public reports. Forward-looking statements therefore speak only as of the date they are made. We assume no obligation to update the forward-looking statements made in this release or to conform them to future events or developments. Contact: If you have any questions, please contact: aap Implantate AG; Rubino Di Girolamo, Chairman of the Management Board, CEO; Lorenzweg 5; 12099 Berlin Phone: +49 (0)30 75019 - 294; Fax: +49 (0)30 75019 - 290; E-Mail: r.digirolamo@aap.de 09.01.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 019-0 |
Fax: | +49 (0) 30 75 019-111 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1810485 |
End of News | EQS News Service |
Visible acceleration in clinical trial with already more than 60 patients; increase in funding of around EUR 0.4 million underscores innovative strength of silver coating technology
Visible acceleration in clinical trial with already more than 60 patients; increase in funding of around EUR 0.4 million underscores innovative strength of silver coating technology
EQS-News: aap Implantate AG / Key word(s): Study
aap Implantate AG ("aap" or the "Company") announces that, at aap's request, the German Federal Ministry of Education and Research (BMBF) has increased the overall funding framework for the conduct of the human clinical trial for the intended market approval of its silver coating technology by approximately EUR 0.4 million. In addition to the funding of up to EUR 2.7 million already committed by the BMBF in 2019, this now results in a funding framework of up to EUR 3.1 million over the entire duration of the study. The BMBF funding underscores the innovative and strategic nature of aap's silver coating technology and its potential to significantly relieve healthcare systems at the cost level.
About aap Implantate AG
The figures presented in this press release may be subject to technical rounding differences which do not affect the overall presentation.
Forward-looking statements 30.10.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1760503 |
End of News | EQS News Service |
Hiring of Jochen Rahner as Director Finance, IR and IT to succeed CFO Marek Hahn
Hiring of Jochen Rahner as Director Finance, IR and IT to succeed CFO Marek Hahn
EQS-News: aap Implantate AG / Key word(s): Personnel aap Implantate AG ("aap" or the "Company") announces that Mr. Jochen Rahner will succeed CFO Mr. Marek Hahn as Director Finance, IR and IT as of November 1, 2023. Mr. Rahner has over 20 years of financial experience in various functions and holds a degree in mechanical engineering. We are convinced that Mr. Rahner will confidently lead the areas of Finance, Investor Relations and IT and are pleased to welcome him to aap on November 1, 2023. ------------------------------------------------------- aap Implantate AG (ISIN DE0005066609) - General Standard/Regulated Market - All German Stock Exchanges -
About aap Implantate AG
The figures presented in this press release may be subject to technical rounding differences which do not affect the overall presentation.
Forward-looking statements 31.08.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1716549 |
End of News | EQS News Service |
Q2/2023: Revenue growth in all regions (+8 %) and adjusted earnings improvement (EBITDA +21 %)
Q2/2023: Revenue growth in all regions (+8 %) and adjusted earnings improvement (EBITDA +21 %)
EQS-News: aap Implantate AG / Key word(s): Quarter Results/Half Year Report
aap Implantate AG ("aap" or the "Company") can look back on a good second quarter. The Company was able to increase sales and EBITDA compared to the previous year both in the second quarter and in the first months. The Company's revenues increased by 8 % to EUR 2.9 million in Q2/2023 compared to the same period last year (Q2/2022: EUR 2.7 million). In the first six months of the current fiscal year, sales increased by 6 % to EUR 5.9 million compared to the first half of 2022 (H1/2022: EUR 5.6 million). Regarding earnings, the Company recorded improved EBITDA of EUR ‑0.6 million (Q2/2022 corr.: EUR ‑0.7 million) in the second quarter and of EUR‑ 1.0 million (H1/2022 corr.: EUR‑ 1.2 million) in the first six months of 2023, respectively, mainly reflecting revenue growth combined with lower other costs. Q2/2023 and H1/2023 - Key financial figures After the publication of the 2022 half-year financial statements, technical errors were identified in the determination of the inventory valuation of work in progress. These errors were corrected and the results of the 2022 half-year financial statements were subsequently adjusted. In the published consolidated interim report as of June 30, 2023, the published figures and the corrected figures are presented for the previous year. In the following, only the corrected figures are compared with the figures as of June 30, 2023 as prior-year comparatives. For further details, please refer to the published interim Group report as of June 30, 2023.
Sales Q2/2023 and H1/2023
Looking at the individual regions, aap achieved in some cases very significant sales increases. Business in the LATAM markets developed particularly strongly, with growth in the second quarter and the first half of the year of +13 % and +29 % respectively. This positive development is due to the continuous expansion of our distributors in important markets such as Mexico and Brazil, the progressing market development by the new distributor in Colombia, and the growing activities in the entire Latin American region.
EBITDA Q2/2023 and H1/2023
aap thus realized an improved EBITDA in the second quarter as well as in the first half of 2023 compared to the same period of the previous year of EUR‑ 0.6 million (Q2/2022: EUR -0.7 million) and EUR‑ 1.0 million (H1/2022: EUR‑ 1.2 million), respectively. The following developments were the main factors here:
Based on the aforementioned developments, - Recurring EBITDA adjusted for non-recurring effects - improved to EUR ‑0.6 million (Q2/2022: EUR ‑1.0 million) and EUR ‑1.0 million (H1/2022: EUR ‑1.4 million) in both the second quarter and the first half of 2023. Cash flow
aap's operating cash flow decreased by 17 % year-on-year in H1/2023 to EUR ‑1.5 million mainly due to the reduction of operating and other liabilities following the capital increase. Cash flow from investing activities showed an outflow of EUR 0.1 million in H1/2023 and was attributable to investments in development projects of EUR 59 thousand (H1/2022: EUR 67 thousand) and property, plant and equipment of EUR 93 thousand (H1/2022: EUR 249 thousand). In the area of financing activities, there was a cash inflow totaling EUR 2.8 million for the first half of 2023 (H1/2022: cash outflow of EUR 0.2 million), which was primarily due to the payment from the capital increase of net EUR 3.3 million EUR, taking up a shareholder loan in the amount of EUR 0.1 million, repayment of financial liabilities and shareholder loans in the amount of EUR 0.5 million (H1/2022: EUR 0.3 million), and payment of interest in the amount of EUR 80 thousand (H1/2022: EUR 130 thousand). As a result, cash and cash equivalents increased to EUR 1.4 million at the end of the second quarter. Net debt (total of all cash and cash equivalents less all interest-bearing liabilities) was EUR 1.5 million on June 30, 2023 (December 31, 2022: EUR 3.0 million). Silver coating technology In the field of silver coating technology, aap was able to successfully resume the recruitment phase in the ongoing human clinical trial with an adapted study design in the first half of 2023 and, after only a short time, enroll more patients with the new study protocol than with the previous study protocol. During the reporting period, the focus was on the resumption of the human clinical study and the provision of a sufficient number of test samples for the new study design and the corresponding infrastructure in the clinical study centers required for this purpose. In addition, discussions continued on possible co-funding of the human clinical trial and further cooperation opportunities. Outlook Not included in the following forecast statements:
In the second half of 2023, in addition to stabilizing aap's financial position, the focus will be on expanding the human clinical trial for the innovative antibacterial silver coating technology to all planned clinic centers and preparing for the currently planned MDR audit in Q4. Based on the aap share price loss, the conversion of the remaining amount of the convertible bond will become due for repayment and will thus burden liquidity by around EUR 0.5 million. Depending on the economic development of aap in the second half of the year as well as the further macroeconomic development, this may lead to an early refinancing of the Company, which was planned in the Annual Report 2022 only for the financial year 2024. The Management Board is currently evaluating various options in this context. On the revenue side, the Executive Board plans for an increase in the second half of 2023 compared to the first six months and expects the planned revenue level of EUR 12 million to EUR 14 million for fiscal year 2023. For EBITDA in fiscal year 2023, the Executive Board expects a value of EUR ‑2.5 million to EUR ‑1.7 million, considering the full project costs for the further implementation of the human clinical trial for the antibacterial silver coating technology.
About aap Implantate AG
The figures presented in this press release may be subject to technical rounding differences which do not affect the overall presentation.
Forward-looking statements
[1] Gross margin in % = (sales revenue +/- change in inventories of finished goods and work in progress - cost of materials / cost of purchased services)/ sales revenue [2] Gross margin absolute = sales revenue +/- change in inventories of finished goods and work in progress - cost of materials / cost of purchased services [3] Cost of conducting the clinical trial less grant funding
Contact: aap Implantate AG; Marek Hahn; Member of the Management Board, CFO; Lorenzweg 5; 12099 Berlin Phone: +49 (0)30 75019 - 134; Fax: +49 (0)30 75019 - 290; E-Mail: m.hahn@aap.de 14.08.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1703163 |
End of News | EQS News Service |
Results of aap Implantate AG's Annual General Meeting underpin support for corporate strategy pursued
Results of aap Implantate AG's Annual General Meeting underpin support for corporate strategy pursued
EQS-News: aap Implantate AG / Key word(s): AGM/EGM
About aap Implantate AG
The figures presented in this press release may be subject to technical rounding differences which do not affect the overall presentation.
Forward-looking statements 27.07.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1690229 |
End of News | EQS News Service |
Accelerated patient recruitment; adapted study protocol meets expectations for human clinical trial of breakthrough silver antibacterial coating technology
Accelerated patient recruitment; adapted study protocol meets expectations for human clinical trial of breakthrough silver antibacterial coating technology
EQS-News: aap Implantate AG / Key word(s): Study With regard to its innovative antibacterial silver coating technology, aap was able to successfully resume recruitment in the ongoing human clinical trial with an adapted study design and achieve a significant acceleration in patient recruitment after only a short time with the new study protocol.
About aap Implantate AG
The figures presented in this press release may be subject to technical rounding differences which do not affect the overall presentation.
Forward-looking statements 20.07.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1684065 |
End of News | EQS News Service |
US and LATAM businesses continue with double-digit growth; Q2 sales increase of +8%; solid growth of +6% in H1/2023
US and LATAM businesses continue with double-digit growth; Q2 sales increase of +8%; solid growth of +6% in H1/2023
EQS-News: aap Implantate AG / Key word(s): Preliminary Results/Quarterly / Interim Statement
Sales Q2/2023
Sales H1/2023
Looking at the individual regions, aap achieved in some regions very significant sales increases. Business in the LATAM markets developed particularly strongly, with growth in the second quarter and the first half of the year of +13 % and +29 % respectively. This positive development can be attributed to the continuous expansion of our distributors in important markets such as Mexico and Brazil, the progressing market development through the new distributor in Colombia, as well as the growing activities in the entire Latin American region. In the EMEA region, Germany in particular performed well again after a long period of stagnation and grew across the board in the second quarter, resulting in an overall increase in sales of +16 %. As a result of the upswing in the second quarter, Germany recorded an increase of +5 % for the first half of the year. In the other central EMEA markets, customers continued to hold back on new investments and inventory build-up due to the ongoing difficult economic situation, particularly because of severely delayed payment flows from healthcare facilities/systems. Sales excluding Germany declined slightly (Q2: -2 % y-o-y, H1: -8 % y-o-y). aap expects a positive catch-up effect here in the second half of the year. In the USA, aap continued its growth path with +7 % sales growth in the second quarter and thus half-year growth of The figures contained in this press release are preliminary as of June 30, 2023, which are subject to change until final publication. aap plans to publish a press release on July 20, 2023, on the study progress of the human clinical trial of the promising antibacterial silver coating technology and to announce the final results of the second quarter and the first half of 2023 on August 14, 2023. aap Implantate AG (ISIN DE0005066609) - General Standard/Regulated Market - All German Stock Exchanges -
About aap Implantate AG aap Implantate AG is a globally active medical technology company based in Berlin, Germany. The company develops, manufactures and markets products for traumatology. In addition to the innovative anatomical plate system LOQTEQ®, the IP-protected portfolio includes a wide range of cannulated screws. In addition, aap Implantate AG has an innovation pipeline with promising development projects such as antibacterial silver coating technology and magnesium-based implants. These technologies address critical problems in traumatology that have not yet been adequately solved. In Germany, aap Implantate AG sells its products directly to hospitals, purchasing groups and group clinics, while at international level it primarily uses a broad network of distributors in around 25 countries. In the USA, the company relies on a hybrid sales strategy through its subsidiary aap Implants Inc. This involves sales both via distribution agents and as part of partnerships with global orthopedic companies. The aap Implantate AG share is listed in the General Standard of the Frankfurt Stock Exchange (XETRA: AAQ.DE). For further information, please visit our website at www.aap.de. The figures presented in this press release may be subject to technical rounding differences which do not affect the overall presentation.
Forward-looking statements This release may contain forward-looking statements based on current expectations, beliefs and projections of the Management Board and currently available information. The forward-looking statements are not guarantees of future performance or results. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in aap's public reports. Forward-looking statements therefore speak only as of the date they are made. We assume no obligation to update the forward-looking statements made in this release or to conform them to future events or developments.
18.07.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1681917 |
End of News | EQS News Service |
Proposed capital measures in connection with the convening of the Annual General Meeting: Maintaining freedom of action in a macroeconomic environment characterized by high uncertainties
Proposed capital measures in connection with the convening of the Annual General Meeting: Maintaining freedom of action in a macroeconomic environment characterized by high uncertainties
EQS-News: aap Implantate AG / Key word(s): AGM/EGM/Corporate Action The Management Board and Supervisory Board of aap Implantate AG ("aap" or the "Company") have, in the run-up to the adoption of the notice convening the Annual General Meeting to be held on July 25, 2023, intensively considered the Company's situation, its future development and the current and assumed macroeconomic environment in the further course of 2023. Based on the existing high macroeconomic uncertainties in connection with the war in Ukraine, the inflation-related interest rate and cost increases (e.g. development of energy prices and prices for raw materials), but also the current share price of the Company close to the EUR 1 line with a very low daily trading volume, the Executive Board and the Supervisory Board have decided to propose to the Annual General Meeting, among other things, the reduction of the share capital of the Company from currently EUR 8,955,849.00 by EUR 6,716,887.00 to EUR 2,238,962.00 for resolution. This is particularly intended to safeguard the Company's freedom of action for any financing measures. ------------------------------------------------------- aap Implantate AG (ISIN DE0005066609) - General Standard/Regulated Market - All German Stock Exchanges -
About aap Implantate AG
The figures presented in this press release may be subject to technical rounding differences which do not affect the overall presentation.
Forward-looking statements 14.06.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1656379 |
End of News | EQS News Service |
aap CFO Marek Hahn ends his Management Board activities at the end of the year; contracts of CEO and COO extended until the end of 2025
aap CFO Marek Hahn ends his Management Board activities at the end of the year; contracts of CEO and COO extended until the end of 2025
EQS-News: aap Implantate AG / Key word(s): Personnel
The CFO of aap Implantate AG ("aap" or the "Company") recently informed the Chairwoman of the Company's Supervisory Board, Dr. Nathalie Krebs, of his wish not to accept the offered contract extension and to terminate his Management Board activities upon expiry of the currently valid Management Board contract on December 31, 2023. Dr. Nathalie Krebs announced that the Supervisory Board will work with Marek Hahn to implement the scheduled termination of his contract, which runs until December 31, 2023. In parallel, the Executive Board contracts of Rubino di Girolamo, CEO and Agnieszka Mierzejewska, COO have been extended by a further 2 years until the end of 2025.
About aap Implantate AG
The figures presented in this press release may be subject to technical rounding differences which do not affect the overall presentation.
Forward-looking statements 25.05.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1642359 |
End of News | EQS News Service |
Q1/2023: Solid start with slight sales growth (+3 %) and unchanged EBITDA; US and LATAM business grow well into double digits
Q1/2023: Solid start with slight sales growth (+3 %) and unchanged EBITDA; US and LATAM business grow well into double digits
EQS-News: aap Implantate AG / Key word(s): Quarter Results
aap Implantate AG ("aap" or the "Company") has made a solid start to the financial year 2023. Even though the first quarter was characterized by inflation-related interest rate and cost increases as well as continuing uncertainties due to the war in Ukraine, the Company was able to slightly increase sales and keep EBITDA constant compared to the previous year. In the process, aap increased sales by 3 % year-on-year to EUR 3.0 million (Q1/2022: EUR 2.9 million) and realized EBITDA of EUR -0.5 million (Q1/2022: EUR -0.5 million). Starting from an unchanged EBITDA, the company was able to significantly improve the operating cash flow (+74 % compared to previous year), which resulted mainly from working capital management measures. In addition, aap successfully carried out a capital increase with subscription rights in the first quarter that was fully subscribed by shareholders or placed with investors by way of private placement, resulting in a net inflow of around EUR 3.2 million. Q1/2023 - Key financial figures Sales
Silver coating technology In the area of silver coating technology, the focus in the first quarter of 2023 was primarily on completing all preparatory work to be able to continue the clinical study in the second quarter under a modified study protocol. In this context, the study was resumed in the first trial centers at the end of April as planned. Under the leadership of the University Hospital Regensburg, Prof. Dr. Alt, the Company plans to include 17 study centers in Germany in the clinical study by late summer. With the new study protocol, aap expects a massive acceleration of the study so that the necessary number of patients can be recruited within 12 to 18 months.
About aap Implantate AG
The figures presented in this press release may be subject to technical rounding differences which do not affect the overall presentation.
Forward-looking statements [2] Gross margin = sales revenue +/- change in inventories of finished goods and work in progress - cost of materials / cost of purchased services. [3] Cost of conducting the clinical trial less grant funding 15.05.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1633051 |
End of News | EQS News Service |
Consolidation in FY/2022: Small decline in sales with stable cost base and strong improvement in operating cash flow (+23 %) in challenging environment
Consolidation in FY/2022: Small decline in sales with stable cost base and strong improvement in operating cash flow (+23 %) in challenging environment
EQS-News: aap Implantate AG / Key word(s): Annual Report/Annual Results
aap Implantate AG ("aap" or the "Company") consolidated its basis and operating business in a particularly challenging financial year 2022. The year started turbulently with the beginning of the war in Europe, subsequent inflation explosion, interest rate hikes and cost explosions for energy sources and raw materials as well as a continuing COVID-19 pandemic situation. The first half of the year left its mark and the Company was unable to achieve the targeted sales increases despite investments in distribution. The second half of the year then showed signs of recovery in markets such as LATAM and the USA, with the result that the last two quarters closed just above the previous year. The sales forecast revised in the summer was achieved with EUR 11.5 million and a slight decline in sales (-6 % y-o-y; FY/2021: EUR 12.2 million). EBITDA deteriorated to EUR -1.7 million (FY/2021: EUR -0.8 million) but remained within the originally forecast range. Despite the deterioration in earnings, aap improved operating cash flow by +23 % year-on-year in FY2022 (FY/2021: EUR -2.5 million). Overall, the trend of previous years towards a positive result and a balanced cash flow in 2022 was thus stopped by the accumulation of external negative events.
FY/2022 - Key financial figures Sales
* In North America, two special effects amounting to EUR 0.4 million are to be excluded from the sales comparison. Excluding these non-recurring effects results in growth of +16 % for the fiscal year 2022 Looking at the individual regions, sales for fiscal 2022 were ambivalent. In the EMEA region (= Europe, Middle East, Africa; -9 % y-o-y), growth was realized above all in South Africa (+14 % y-o-y) as well as in Israel and smaller European markets, which, however, could not compensate for the development of the central markets such as Spain and Germany, among others, which were below the previous year's level. In both central markets, the sales measures initiated did not yet lead to a turnaround compared to the pre-COVID 19 level due to staff shortages in hospitals and low trauma cases up to postponements of unnecessary operations. EBITDA
Looking at the development of the pure operating trauma business[2] , we can classify fiscal 2022 as a year of consolidation. Together with the restructuring successes achieved in the years 2019 to 2021, this has also created a basis for the following financial years that will enable profitable growth in the coming years. Cash flow and balance sheet
Outlook Not included in the following forecast statements:
The Executive Board forecasts sales of between EUR 12.0 million and EUR 14.0 million for fiscal year 2023. The management assumes a similar distribution of sales over the individual quarters as in the previous year, with a possible acceleration in the fourth quarter. Regarding earnings, the Management Board expects EBITDA to be between EUR -2.5 million and EUR -1.7 million in fiscal year 2023, based on the planned sales growth and further efficiency improvements to be realized, but with higher costs for the implementation of the clinical trial for the silver coating technology compared to the previous year. In this context, the management aims to achieve an improved operating cash flow for the company as a whole, excluding the costs for the silver coating technology and, in particular, the human clinical trial, if the development is in line with the budget in the current fiscal year. After deducting the remaining financing expenses and the costs for the clinical human study, however, aap will still report a negative cash flow. aap Implantate AG (ISIN DE0005066609) - General Standard/Regulated Market - All German Stock Exchanges -
About aap Implantate AG
The figures presented in this press release may be subject to technical rounding differences which do not affect the overall presentation.
Forward-looking statements
[1]CER = Constant Exchange Rates. [2] aap Group excluding development costs for silver coating and resorbable magnesium implant technologies, non-recurring one-off effects and non-allocable central costs Contact: aap Implantate AG; Marek Hahn; Member of the Management Board, CFO; Lorenzweg 5; 12099 Berlin Phone: +49 (0)30 75019 - 134; Fax: +49 (0)30 75019 - 290; E-Mail: m.hahn@aap.de 28.04.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1620535 |
End of News | EQS News Service |
aap Implants Inc. awarded agreement with Premier, Inc. for Small Joint Implants – Upper Extremities, Small Joint Implants – Lower Extremities, Podiatry Products and Accessories
aap Implants Inc. awarded agreement with Premier, Inc. for Small Joint Implants – Upper Extremities, Small Joint Implants – Lower Extremities, Podiatry Products and Accessories
EQS-News: aap Implantate AG / Key word(s): Agreement/Contract aap Implantate AG (“aap”) announces that its US subsidiary aap Implants Inc has been awarded a group purchasing agreement for the “Small Joint Implants – Upper Extremities” “Small Joint Implants - Lower Extremities, Podiatry Products and Accessories” portfolio with Premier, Inc., effective as of March 1, 2023. The agreement allows Premier members, at their discretion, to take advantage of special pricing and terms pre-negotiated by Premier for aap`s lower extremity portfolio, which includes the LOQTEQ® Dist. Tibia and Dist. Fibula system as well as its VA (Variable Angle) version the LOQTEQ® VA Dist. Tibia and VA Dist. Fibula systems, the LOQTEQ® Prox. Tibia 3.5 system, LOQTEQ® VA Foot System and the LOQTEQ® VA Calcaneus System. “We are pleased to have reached this milestone with one of the largest group purchasing organizations, Premier, Inc. to become part of their supplier network. Even though at this point in time we are not yet able to quantify the impact on our US sales, we are positive that through the access to a wider base of healthcare organizations and hospitals we will be able to accelerate our growth”, says Agnieszka Mierzejewska, COO of aap. Premier, Inc. is a leading US healthcare improvement company, uniting an alliance of more than 4,400 U.S. hospitals and health systems and 250,000 other providers and organizations to transform healthcare. More information on Premier, Inc. can be obtained via https://premierinc.com. ------------------------------------------------------- aap Implantate AG (ISIN DE0005066609) - General Standard/Regulated Market - All German Stock Exchanges -
About aap Implantate AG
The figures presented in this press release may be subject to technical rounding differences which do not affect the overall presentation.
Forward-looking statements 03.04.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1598919 |
End of News | EQS News Service |
aap receives US-American clearance (FDA) for polyaxial LOQTEQ® VA Elbow system; launch planned for Q4 2023
aap receives US-American clearance (FDA) for polyaxial LOQTEQ® VA Elbow system; launch planned for Q4 2023
EQS-News: aap Implantate AG / Key word(s): Regulatory Approval/Market Launch aap Implantate AG (“aap”) announces that its new system LOQTEQ® VA Elbow 2.7/3.5 has been cleared by the US-American Food and Drug Administration (FDA). The Company plans to launch the system LOQTEQ® VA Elbow 2.7/3.5 in the fourth quarter of 2023 in the United States and in other markets that accept FDA clearances. The system enables flexible treatment of fractures of the distal humerus and olecranon important to the elbow function and stability. The LOQTEQ® VA Elbow plates 2.7/3.5 belong to the LOQTEQ® VA (VA = Variable Angle) product family. These are polyaxial implants that facilitate inserting angle-stable screws at different angles, thereby improving flexibility within the application. With its new distal humerus and olecranon system, aap addresses the upper extremity segment, which accounts for approx. 34% of trauma surgeries[1]. The treatment of distal humeral fractures remains a challenge in trauma surgery. The incidence rates range up to 7% of all fractures and 30% of elbow fractures[2]. The distal humerus holds great importance in the mobility and function for the elbow, requiring innovative fixation solutions to support effective surgical treatment. To meet patients’ growing demands, a swift and stable treatment is required that enables an early restoration of mobility. The system LOQTEQ® VA Elbow 2.7/3.5 comprises a variety of plate solutions for the distal humerus, enabling 90°and 180° treatment options, as well as solution for the olecranon. The anatomical plate design in conjunction with excellent plate-screw connection, choice of screw angles, as well as the incorporated locking and compression technology (LOQTEQ®) in the shaft area, are just a few of the main features incorporated in the system, contributing to great surgical outcome and high comfort of patients. With the LOQTEQ® VA Elbow 2.7/3.5 aap takes a further important step on the way to the completion of its portfolio in the polyaxial range. In addition, it is coming one step closer in offering an attractive range of products for its antibacterial silver treated solution, currently in human clinical trial phase. ------------------------------------------------------- aap Implantate AG (ISIN DE0005066609) - General Standard/Regulated Market - All German Stock Exchanges -
About aap Implantate AG
[1] Source: Global Trauma Fixation Device Market Insights, Forecast to 2025, page 16; released by QYResearch [2] Source: https://www.orthobullets.com/trauma/1017/distal-humerus-fractures, viewed 19.03.2023 Contact: aap Implantate AG; Marek Hahn; Member of the Management Board/ CFO; Lorenzweg 5; 12099 Berlin Tel.: +49 (0)30 75019 - 134; Fax: +49 (0)30 75019 - 290; Email: m.hahn@aap.de 21.03.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1587437 |
End of News | EQS News Service |
Good start in 2023 after challenging fiscal year 2022
Good start in 2023 after challenging fiscal year 2022
EQS-News: aap Implantate AG / Key word(s): Capital Increase/Development of Sales
aap Implantate AG ("aap" or the "Company") has made a good start to the new year after a challenging fiscal year 2022. All three sales units (Germany, International and USA) are making good progress in their markets, led by the USA, which closed January 2023 with a decent double-digit sales increase compared to the same month last year. In Europe, a test distribution is underway with a strategic partner in a promising market. In international business, the company is again recording increased activity in many markets and aap's distribution partners are again more optimistic about the financial year 2023 and thus potentially about a sales level above that of the previous year. Based on the work in the context of preparing the financial statements for the financial year 2022 and as already communicated in November 2022, the Management Board confirms a figure for sales and EBITDA at the lower end of the guidance for the past financial year 2022. In the field of silver coating technology, aap had to adjust and simplify the clinical trial plan for the ongoing human study at the end of 2022, as the course of the study to date has shown that the originally envisaged number of patients with fractures exclusively of the distal tibia cannot be achieved within a reasonable period of time. In November 2022, the Company received all commitments and approvals from the BfArM and the Ethics Committee for the adapted study plan. aap expects that this will significantly accelerate patient recruitment. Production of the study materials for the adapted target fracture is already underway and the implants will be available for continuation of the study from April 2023. The Company expects to reach the required patient number within 12 to 18 months from the restart of the study. In the meantime, it has been possible to treat out-of-treatment patients with aap's silver-coated implants as part of individual healing trials. Overall, the healing process was very good, which is a positive indication for the ongoing clinical human trial. The capital increase launched today to secure liquidity achieved firm subscription commitments in advance amounting to approx. 85 % of the size of the capital measure. In order to be able to immediately deliver shares admitted to stock exchange trading to all shareholders accepting the subscription offer as well as to certain investors in the course of the rump placement, existing major shareholders will provide the Company with a sufficient number of shares already admitted to stock exchange trading from their existing holdings by way of a securities loan. In addition, the future holders of non-admitted new shares have committed themselves to a lock-up from the date of signing of a lock-up commitment agreement until the end of a period of six months after admission of the part of the new shares to be admitted in November 2023. The Executive Board acknowledges these commitments as a sign of support for the corporate strategy pursued, both in terms of short-term key performance indicators and long-term value creation. aap Implantate AG (ISIN DE0005066609) - General Standard/Regulated Market - All German Stock Exchanges -
About aap Implantate AG
The figures presented in this press release may be subject to technical rounding differences which do not affect the overall presentation.
Forward-looking statements 21.02.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1565007 |
End of News | EQS News Service |
Antibacterial silver coating technology: acceleration of human clinical trial through successfully implemented clinical trial protocol changes
Antibacterial silver coating technology: acceleration of human clinical trial through successfully implemented clinical trial protocol changes
EQS-News: aap Implantate AG / Key word(s): Study aap Implantate AG ("aap" or the "Company") announces that with the recent approval for an amendment to the clinical trial plan by the BfArM and the Ethics Committee, an important step towards accelerating the human clinical trial of the antibacterial silver coating technology developed by aap could be implemented. The changes to the clinical trial plan were deemed necessary by the Company because it has become apparent during the conduction of the trial to date that the originally envisaged number of patients with fractures exclusively of the distal tibia cannot be achieved within a reasonable period of time. The two crucial changes at a glance concern:
Following approval by the BfArM and the Ethics Committee, the Company has started production of a sufficient number of study implants for the adapted target fracture. Based on the changes to the clinical trial plan, aap plans to complete the number of patients to be included under the human clinical trial in mid-2024, after which the mandatory follow-up year will begin. All previous applications of silver-coated implants in the context of individual healing trials showed very good healing processes and no evidence of infections could be detected. These overall very good results are a positive indication for the ongoing clinical human study. With its antibacterial silver coating technology, aap is addressing one of the greatest and yet inadequately solved challenges in traumatology: the reduction of Surgical Site Infections (SSI). Surgical site infections represent a major burden both for the patients affected and for global healthcare systems. Antibiotic-resistant bacteria pose a particular threat. In its annual report on the state of research to overcome antibiotic resistance, the WHO recently found that some of the world's most dangerous bacteria have developed resistance to known agents.[1] Moreover, according to the WHO, nearly all antibiotics currently in development work little better than existing agents. aap's innovative antibacterial silver coating technology represents an alternative solution in the fight against bacterial infections that is not based on antibiotics and therefore offers enormous market potential. As a platform technology, the technology has a broad range of applications and can be used not only in traumatology but also in other areas of orthopedics as well as in cardiology, dentistry, or medical instruments. The conduction of the clinical study is funded by the German Federal Ministry of Education and Research ("BMBF"). The grant awarded to the company (grant numbers 13GW0313A+B, 13GW0449A+B) is part of the BMBF's field of action "Healthcare Industry in the Health Research Framework Program". According to the BMBF, projects on the topic of "Transferring medical technology solutions into patient care - proving clinical evidence without delay" are being funded. For further information, please refer to the corresponding guideline on the BMBF website: https://www.bmbf.de/foerderungen/bekanntmachung-1376.html. aap Implantate AG (ISIN DE0005066609) - General Standard/Regulated Market - All German Stock Exchanges -
About aap Implantate AG aap Implantate AG is a globally active medical technology company based in Berlin, Germany. The company develops, manufactures, and markets products for traumatology. In addition to the innovative anatomical plate system LOQTEQ®, the IP-protected portfolio includes a wide range of cannulated screws. In addition, aap Implantate AG has an innovation pipeline with promising development projects such as antibacterial silver coating technology and magnesium-based implants. These technologies address critical problems in traumatology that have not yet been adequately solved. In Germany, aap Implantate AG sells its products directly to hospitals, purchasing groups and group clinics, while at international level it primarily uses a broad network of distributors in around 25 countries. In the USA, the company relies on a hybrid sales strategy through its subsidiary aap Implants Inc. This involves sales both via distribution agents and as part of partnerships with global orthopedic companies. The aap Implantate AG share is listed in the General Standard of the Frankfurt Stock Exchange (XETRA: AAQ.DE). For further information, please visit our website at www. aap.de.
The figures presented in this press release may be subject to technical rounding differences which do not affect the overall presentation.
Forward-looking statements This release may contain forward-looking statements based on current expectations, beliefs and projections of the Management Board and currently available information. The forward-looking statements are not guarantees of future performance or results. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in aap's public reports. Forward-looking statements therefore speak only as of the date they are made. We assume no obligation to update the forward-looking statements made in this release or to conform them to future events or developments.
[1] 2020 Antibacterial agents in clinical and preclinical development: an overview and analysis. Geneva: World Health Organization; 2021 Contact: aap Implantate AG; Marek Hahn; Member of the Management Board/ CFO; Lorenzweg 5; 12099 Berlin Tel.: +49 (0)30 75019 - 134; Fax: +49 (0)30 75019 - 290; Email: m.hahn@aap.de 25.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1498061 |
End of News | EQS News Service |
Q3/2022: Again significant growth in the US (+45 %) with sales of EUR 1.0 million; total sales and EBITDA impacted by continued volatile market environment
Q3/2022: Again significant growth in the US (+45 %) with sales of EUR 1.0 million; total sales and EBITDA impacted by continued volatile market environment
EQS-News: aap Implantate AG / Key word(s): Quarter Results/9 Month figures
aap Implantate AG ("aap" or the "Company") was able to realize slight sales growth in the third quarter contrary to the general downward trend in the trauma sector and in a persistently volatile market environment. Thereby, the Company's sales in Q3/2022 increased by 1 % to EUR 3.0 million compared to the same period of the previous year (Q3/2021: EUR 3.0 million). In the first nine months of the current fiscal year, sales decreased by 4 % to EUR 8.5 million compared to 9M/2021 (9M/2021: EUR 8.9 million). Taking into account constant exchange rates, the changes in sales were ‑3 % (Q3) and ‑8 % (9M). With regard to earnings, the Company recorded normalized EBITDA1 of EUR ‑0.4 million (reported: EUR ‑0.8 million; Q3/2021: +EUR 20 thousand) in the third quarter and of EUR ‑1.5 million (9M/2021: EUR +0.1 million) in the first nine months of 2022, respectively, mainly reflecting the decline in sales (9M), the expansion of the sales infrastructure in Germany and the U.S. as planned, the execution of the clinical trial for aap's innovative antibacterial silver coating technology as well as the extensive work on processes and documents to meet the increased regulatory requirements of the new EU Medical Device Regulation (MDR). In addition, other operating income decreased, and the Company faced partly massive unplanned cost increases (e.g. procurement prices for energy and purchased inputs) from the observable increasing pressure on global supply chains and the general inflationary cost environment, e.g. as a result of the war in Ukraine. In general, regarding the regions outside North America, the Company continues to face the existing and now also worsening pandemic COVID-19 situation, related increasing staff shortages in hospitals and also in the increasing but persistently too low mobility and the changed mobility behavior of the populations, which is reflected in lower case numbers compared to pre-COVID-19 levels. In addition, the still ongoing war in Ukraine, the observable dynamic pressure on global supply chains and the general inflationary (cost)environment are generally affecting business development. Q3/2022 and 9M/2022 - Key financial figures Sales Q3/2022 and 9M/2022
Looking at the individual regions, the picture in North America is very positive: the Company achieved significant sales growth of +45 % and +9 % in both the third quarter and the first nine months. This shows a clear recovery of the market in the third quarter compared to the first half of 2022. Above all, the increased average invoiced price per surgery performed was the main factor behind the increase in sales; in addition, the development of the USD/EUR exchange rate was also beneficial. Even taking into account constant exchange rates, the changes in sales were a remarkable +24 % in the third quarter or almost at the level of the previous year in a nine-month comparison. For the sales regions outside North America, the aforementioned effects ran through almost all markets relevant to aap, albeit to varying degrees. In the EMEA region, the Company recorded a 7 % decline in sales in the third quarter, which resulted in a sales decrease of also 7 % in the first nine months of the financial year. This was mainly due to developments in markets outside the EU, which showed a lower volume of business than in the previous year. The markets within the EU showed a slightly positive development in the third quarter, although the home market of Germany was down on the previous year due to lower case numbers in clinics using aap products. By contrast, the market in South Africa, among others, developed positively in the nine-month period with significant double-digit growth, although this could only partially compensate for the development of the other submarkets in the EMEA region. Following encouraging developments in the first half of the year, the LATAM region realized a 22 % decline in sales in the third quarter, resulting in a reduction of 8 % in the nine-month period. The encouraging growth in Mexico in Q3 of 84 % could not fully compensate for the declines in the Puerto Rico and Chile markets. In addition, sales in the prior-year quarter were significantly impacted by an initial equipment order from a new customer in Colombia. In the APAC region, aap recorded a sales decline of 27 % in the third quarter and 42 % in the nine-month period compared with the respective comparative period of the previous year, mainly because of a reduced volume of business due to a sharp drop in the price situation with the Chinese distribution partner. EBITDA Q3/2022 and 9M/2022
Regarding earnings, comparable EBITDA (normalized1) decreased year-on-year to EUR ‑0.4 million for Q3 2022 (reported: EUR ‑0.8 million; Q3/2021: EUR +20 thousand) and to EUR -1.5 million for the first nine months of 2022 (9M/2021: EUR +0.1 million). The following developments were particularly decisive in this regard:
Excluding non-recurring items, comparable Recurring EBITDA (normalized1) decreased to EUR ‑0.3 million (reported: EUR ‑0.8 million; Q3/2021: EUR +4 thousand) and to EUR ‑1.7 million (9M/2021: EUR ‑0.4 million) in the third quarter and first nine months of 2022, respectively. Financing With a view to stabilizing aap's financial position, the Company successfully executed a capital increase of around 10 % in September/October. A total of around 0.6 million new shares were issued excluding subscription rights by way of a private placement against cash contributions at a subscription price of EUR 1.99, so that the Company received a net inflow of around EUR 1.2 million after deduction of consultancy fees and other costs. The new shares were subscribed by a strategic investor from Asia, who already has business activities in the field of orthopedics. As of September 30, 2022, the Company reported cash and cash equivalents of approximately EUR 1.0 million. Silver coating technology Regarding aap's innovative antibacterial silver coating technology, an application for an amendment to the clinical trial plan was submitted following restrained patient recruitment in the first nine months of 2022. This was approved by the relevant authorities and is currently being implemented. Thus, aap expects that the necessary number of patients will be reached at the beginning of 2024 and that the mandatory follow-up year will then begin. In addition, aap is still in talks about possible co-financing of the human clinical trial and further cooperation opportunities. Outlook Not included in the following forecast statements:
Based on Q3 2022 results, a continued volatile market environment due to the war in Ukraine and a re-aggravating pandemic COVID-19 situation, and including consideration of ongoing inflationary pressures, the Company now expects revenue and EBITDA at the lower end of the guidance range of EUR 11.5 million to EUR 13.5 million (revenue) and EUR -2.0 million to EUR -1.1 million (EBITDA), respectively.
About aap Implantate AG aap Implantate AG is a globally active medical technology company headquartered in Berlin, Germany. The company develops, manufactures and markets products for traumatology. In addition to the innovative anatomical plate system LOQTEQ®, the IP-protected portfolio includes a wide range of cannulated screws. In addition, aap Implantate AG has an innovation pipeline with promising development projects such as antibacterial silver coating technology and magnesium-based implants. These technologies address critical problems in traumatology that have not yet been adequately solved. In Germany, aap Implantate AG sells its products directly to hospitals, purchasing groups and group clinics, while at international level it primarily uses a broad network of distributors in around 25 countries. In the USA, the company relies on a hybrid sales strategy through its subsidiary aap Implants Inc. This involves sales both via distribution agents and within the framework of partnerships with global orthopedic companies. The aap Implantate AG share is listed in the General Standard of the Frankfurt Stock Exchange (XETRA: AAQ.DE). For further information, please visit our website at www.aap.de.
The figures presented in this press release may be subject to technical rounding differences which do not affect the overall presentation.
Forward-looking statements This release may contain forward-looking statements based on current expectations, beliefs and projections of the Management Board and currently available information. The forward-looking statements are not guarantees of future performance or results. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in aap's public reports. Forward-looking statements therefore speak only as of the date they are made. We assume no obligation to update the forward-looking statements made in this release or to conform them to future events or developments. [1] Q3 EBITDA normalized: Smoothing of a valuation effect from the second quarter in work in progress which neutralized this effect again in the third quarter; pure quarterly shift and therefore no impact on the 9M figures. Contact: aap Implantate AG; Marek Hahn; Member of the Management Board/ CFO; Lorenzweg 5; 12099 Berlin Tel.: +49 (0)30 75019 - 134; Fax: +49 (0)30 75019 - 290; Email: m.hahn@aap.de 16.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1489491 |
End of News | EQS News Service |
Q3/2022: Solid third quarter with slight sales growth in persistently volatile market environment; US business back on track with significant +45 % sales increase
Q3/2022: Solid third quarter with slight sales growth in persistently volatile market environment; US business back on track with significant +45 % sales increase
EQS-News: aap Implantate AG / Key word(s): Preliminary Results/Development of Sales aap Implantate AG ("aap" or the "Company") achieved slight sales growth in the third quarter in a persistently volatile market environment. According to preliminary figures, aap increased sales by +1 % to EUR 3.0 million (Q3/2021: EUR 3.0 million) in the third quarter of the current year compared to the same period of the previous year. In the first nine months of the current fiscal year, sales decreased by 4 % to EUR 8.5 million compared to 9M/2021 (9M/2021: EUR 8.9 million). Taking constant exchange rates into account, the changes in sales were ‑3 % (Q3) and ‑8 % (9M). In general, with regard to the regions outside North America, the Company continues to face the existing and now worsening pandemic COVID-19 situation, related bottlenecks in hospitals and also the increasing but persistently too low mobility and the changed mobility behavior of the population, which is reflected in lower case numbers compared to pre-COVID-19 levels. In addition, the still ongoing war in Ukraine, the observable dynamic pressure on global supply chains and the general inflationary (cost) environment are generally affecting business development. In the North America region, on the other hand, the third quarter showed a significant recovery of the market compared to the first half of 2022 and a very dynamic development again overall: thus, starting from a significant growth of +45 % in the third quarter, the company was able to realize an increase in sales of +9 % in the nine-month period as well (constant exchange rates: +24 % in Q3 or almost at the previous year's level in the nine-month comparison). Sales Q3/2022 and 9M/2022
The figures contained in this press release are preliminary as of September 30, 2022, and are subject to change until final publication. aap plans to announce final results for the third quarter and first nine months of 2022 in a press release on November 14, 2022. aap Implantate AG (ISIN DE0005066609) - General Standard/Regulated Market - All German Stock Exchanges - aap Implantate AG is a globally active medical technology company based in Berlin, Germany. The company develops, manufactures and markets products for traumatology. In addition to the innovative anatomical plate system LOQTEQ®, the IP-protected portfolio includes a wide range of cannulated screws. In addition, aap Implantate AG has an innovation pipeline with promising development projects such as antibacterial silver coating technology and magnesium-based implants. These technologies address critical problems in traumatology that have not yet been adequately solved. In Germany, aap Implantate AG sells its products directly to hospitals, purchasing groups and group clinics, while at international level it primarily uses a broad network of distributors in around 25 countries. In the USA, the company relies on a hybrid sales strategy through its subsidiary aap Implants Inc. This involves sales both via distribution agents and as part of partnerships with global orthopedic companies. The aap Implantate AG share is listed in the General Standard of the Frankfurt Stock Exchange (XETRA: AAQ.DE). For further information, please visit our website at www. aap.de. 25.10.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1470903 |
End of News | EQS News Service |
Q2/2022: Sales of EUR 2.7 million and EBITDA of EUR -0.2 million below expectations in persistently challenging macroeconomic environment; growth expected for second half of 2022
Q2/2022: Sales of EUR 2.7 million and EBITDA of EUR -0.2 million below expectations in persistently challenging macroeconomic environment; growth expected for second half of 2022
DGAP-News: aap Implantate AG / Key word(s): Quarter Results
The Company's sales in the second quarter of 2022 decreased by 17 % to EUR 2.7 million compared to the same period of the previous year (Q2/2021: EUR 3.3 million). In the first six months of the current fiscal year, sales decreased by 7 % to EUR 5.6 million compared to the first half of 2021 (H1/2021: EUR 6.0 million). Taking constant exchange rates into account, the changes in sales were ‑21 % (Q2) and ‑10 % (H1). Looking at the results, the Company recorded EBITDA of ‑0.2 million EUR (Q2/2021: +0.3 million EUR) in the second quarter and of ‑0.7 million EUR (H1/2021: +0.1 million EUR) in the first six months of 2022, which mainly reflects the decline in sales, the expansion of the sales infrastructure in Germany and the U.S. as planned, the conduction of the clinical trial for aap's innovative antibacterial silver coating technology as well as the extensive work on processes and documents to meet the increased regulatory requirements of the new EU Medical Device Regulation (MDR). Q2/2022 and H1/2022 - Key financial figures Sales Q2/2022 and H1/2022
The picture in the USA is divided: While at first glance there is a decline in sales for the region in the second quarter (‑13 %) and in the first six months (‑5 %), a non-recurring effect in the amount of EUR 0.2 million must be excluded from sales in the second quarter of 2021. This one-off effect in the previous year resulted from the termination of the contractual relationship with a long-standing distribution partner. Excluding this non-recurring effect results in growth of +14 % for the second quarter and +10 % for the first half of the year. In addition to the development of the USD/EUR exchange rate, the increase in the average invoiced price per surgery performed was also the background to the rise in sales. Overall, the Management Board remains optimistic about the Company's further development and sees the sales development of the last 12 months compared to the corresponding period of the previous year with LTM sales growth of 7 % as confirming the fundamental orientation of aap. EBITDA Q2/2022 and H1/2022
Excluding the one-off effects, recurring EBITDA decreased further in Q2 and H1/2022 to EUR -0.5 million (Q2/2021: EUR -0.1 million) and EUR ‑0.9 million (H1/2022: EUR ‑0.4 million), respectively. Silver coating technology With regard to aap's innovative antibacterial silver coating technology, the first human clinical trial surgeries were performed in the first half of 2022 and further trial centers were initiated. In addition, the Company carried out promising test coatings for a leading medical technology company in the reporting period. The aim is to demonstrate the possible application of silver coating technology to non-aap products and thus to create the preconditions for potential joint development projects. In addition, aap is still in talks about possible co-financing of the human clinical trial and further cooperation opportunities. Outlook Not included in the following forecast statements:
In the second half of 2022, in addition to stabilizing aap's financial position, the focus will be in particular on the further implementation of the human clinical trial for the innovative antibacterial silver coating technology and the further revision of processes and documents to meet the increased regulatory requirements of the new EU Medical Devices Regulation MDR. On the revenue side, the Executive Board expects an increase for the second half of 2022 compared to the first six months and anticipates a revenue level of EUR 11.5 million to EUR 13.5 million for fiscal year 2022. For EBITDA in fiscal year 2022, the Executive Board expects a value of EUR ‑2.0 million to EUR ‑1.1 million, taking into account the full project costs for the further implementation of the human clinical trial for the antibacterial silver coating technology. aap Implantate AG (ISIN DE0005066609) - General Standard/Regulated Market - All German Stock Exchanges - About aap Implantate AG aap Implantate AG is a globally active medical technology company based in Berlin, Germany. The company develops, manufactures and markets products for traumatology. In addition to the innovative anatomical plate system LOQTEQ®, the IP-protected portfolio includes a wide range of cannulated screws. In addition, aap Implantate AG has an innovation pipeline with promising development projects such as antibacterial silver coating technology and magnesium-based implants. These technologies address critical problems in traumatology that have not yet been adequately solved. In Germany, aap Implantate AG sells its products directly to hospitals, purchasing groups and group clinics, while at international level it primarily uses a broad network of distributors in around 25 countries. In the USA, the company relies on a hybrid sales strategy through its subsidiary aap Implants Inc. This involves sales both via distribution agents and as part of partnerships with global orthopedic companies. The aap Implantate AG share is listed in the General Standard of the Frankfurt Stock Exchange (XETRA: AAQ.DE). For further information, please visit our website at www. aap.de.
The figures presented in this press release may be subject to technical rounding differences which do not affect the overall presentation.
Forward-looking statements This release may contain forward-looking statements based on current expectations, beliefs and projections of the Executive Board and currently available information. The forward-looking statements are not guarantees of future performance or results. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in aap's public reports. Forward-looking statements therefore speak only as of the date they are made. We assume no obligation to update the forward-looking statements made in this release or to conform them to future events or developments. [1] LTM revenue increase: revenue for the last 12 months (01.07.2021 - 30.06.2022) compared to the corresponding period of the previous year (01.07.2020 - 30.06.2021) [2] Gross margin = sales revenue +/- change in inventories of finished goods and work in progress - cost of materials / cost of purchased services. Contact: aap Implantate AG; Marek Hahn; Member of the Management Board, CFO; Lorenzweg 5; D-12099 Berlin Tel.: +49/30/750 19 - 134; Fax: +49/30/750 19 - 290; m.hahn@aap.de 12.08.2022 CET/CEST Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1419167 |
End of News | DGAP News Service |
Q1/2022: Solid start to the year with 6 % sales growth and EBITDA within expectations in a challenging macroeconomic environment
Q1/2022: Solid start to the year with 6 % sales growth and EBITDA within expectations in a challenging macroeconomic environment
DGAP-News: aap Implantate AG / Key word(s): Quarter Results
aap Implantate AG ("aap" or the "Company") started the financial year 2022 in a challenging macroeconomic environment with solid sales growth and EBITDA in line with expectations. In this context, aap increased sales by 6 % compared to the same period of the previous year to EUR 2.9 million (Q1/2021: EUR 2.7 million). In terms of earnings, the Company recorded EBITDA of EUR -0.5 million (Q1/2021: EUR -0.2 million), which mainly reflects the planned expansion of the sales infrastructure in Germany and the U.S. and the conduction of the human clinical study for aap's innovative antibacterial silver coating technology. Q1/2022 - Key financial figures Sales
On the market side, aap continued to be exposed to the effects of the COVID-19 pandemic to varying degrees in the first quarter. Among other things, it was observed that surgeries could not be performed or could only be performed to a reduced extent due to COVID-19-related absences of hospital staff or COVID-19 infections of trauma patients. In addition, despite the lifting of many COVID-19 protection measures, general mobility has not yet returned to pre-COVID-19 levels and is accordingly reflected in lower case numbers. In addition, the war in Ukraine, which is currently still ongoing, generally impacted business development in the first quarter, e.g., in the processing of new customer contracts in Eastern Europe or payments from countries with a high dependency on Russia. Overall, the picture is ambivalent when looking at the individual regions: the pleasingly significant growth in the EMEA region (= Europe, Middle East, Africa; +19 %) is mainly based on a revival of business with existing customers in Southeastern Europe and the Middle East. In contrast, the recovery to pre-COVID-19 levels in the individual markets of importance to the Company, Spain and Germany, is taking notably longer than expected and planned, which is reflected above all in a continued lower case volume than before the onset of the COVID-19 pandemic. In North America, aap remains on a growth track and was able to increase sales (+5 %). After a very slow start in January and the first half of February due to COVID-19 effects, March saw the highest ever number of surgeries performed in a single month. In Latin America (-26 %) and Asia-Pacific (-34 %), the ongoing impact of the COVID-19 pandemic is clearly reflected. Rising infection rates and zero COVID19 guidelines implemented in some regions impacted business performance in the first months of the fiscal year, in some cases severely. In addition, new regulatory and procurement guidelines that came into force at short notice, particularly in China, are making further expansion of the business more difficult. EBITDA
In terms of earnings, EBITDA decreased as expected compared with the same period of the previous year to EUR -0.5 million (Q1/2021: EUR -0.2 million). The following developments in the first quarter were particularly decisive in this respect:
Excluding the non-recurring effects, recurring EBITDA decreased to EUR -0.4 million in the first quarter of 2022 (Q1/2021: EUR -0.2 million). Silver coating technology With regard to aap's innovative silver coating technology, the first surgeries in the human clinical study for its innovative antibacterial silver coating technology were performed in the first quarter of 2022. The surgeries took place at the University Hospital Regensburg and went according to plan. In addition, the Company was able to include further clinics in the study in the first quarter, so that further patient recruitment can be expected in the coming months. aap had initiated the clinical human study in December last year, which is an essential step towards the planned market approval (CE) of the innovative technology. Outlook Despite the currently observable dynamic pressure on global supply chains, the uncertainty regarding the COVID-19 pandemic as previously described, the general inflationary environment and taking into account the first quarter results, the Management Board continues for the time being to adhere to the communicated forecast values for sales and EBITDA for the financial year 2022. Even under the current market adversities, the Company is recording a growing number of new potential distribution channels and aap's long-standing distribution partners are confident that they will return to pre-pandemic levels in the foreseeable future. In this context, aap's distribution partners and the Company anticipate a renewed increase in case numbers in the trauma segment due to observable declines in COVID-19 infection figures, a resurgence in global mobility as a result of increased return to work, increased sports and leisure activities, and a resurgence in numbers in the tourism industry. ------------------------------------------------------------------------------------------------------------------------------------------- About aap Implantate AG The figures presented in this press release may be subject to technical rounding differences which do not affect the overall presentation. Forward-looking statements Contact: aap Implantate AG; Marek Hahn; Member of the Management Board/ CFO; Lorenzweg 5; D-12099 Berlin Tel.: +49/30/750 19 - 134; Fax: +49/30/750 19 - 290; m.hahn@aap.de 13.05.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1351551 |
End of News | DGAP News Service |
First surgeries performed as part of human clinical study for antibacterial silver coating technology; aap's technology effective against particularly critical antibiotic-resistant hospital germ MRSA
First surgeries performed as part of human clinical study for antibacterial silver coating technology; aap's technology effective against particularly critical antibiotic-resistant hospital germ MRSA
DGAP-News: aap Implantate AG / Key word(s): Study aap Implantate AG ("aap" or the "Company") announces that in the first quarter of 2022 the first surgeries were performed as part of the human clinical trial for its innovative antibacterial silver coating technology. The surgeries took place at the University Hospital Regensburg and went according to plan. aap had initiated the human clinical trial in December last year, which is an essential step towards the planned market approval (CE) of the innovative technology. In addition, aap reports that its antibacterial silver coating technology is effective against the particularly critical antibiotic-resistant hospital germ methicillin-resistant Staphylococcus aureus (MRSA), which was responsible for 100,000 deaths worldwide in 2019 alone, according to a study published in the medical journal The Lancet.[1] Last year, for example, aap was able to demonstrate the effectiveness of its technology against the antibiotic-resistant bacterium MRSA as part of an extensive series of in vitro tests.[2] MRSA is one of the pathogens most frequently responsible for resistance problems. The results of the study on the threat posed by antibiotic-resistant germs, which was written by an international group of experts, were published in the scientific journal "The Lancet". In addition, n-tv had also recently evaluated the results of the study.[3] According to the study, more than 1.2 million people worldwide died directly from an infection with an antibiotic-resistant pathogen in 2019. In addition, such infections were at least partly responsible for almost five million further deaths. This makes antibiotic resistance one of the leading causes of death in the world. The results of the study reveal the extent of the problem caused by multi-resistant germs and at the same time show the acute need for action. This is precisely the starting point for aap's innovative antibacterial silver coating technology. The disruptive silver coating developed by the company represents an alternative solution in the fight against bacterial infections that is not based on antibiotics and therefore offers enormous market potential. As a platform technology, the technology has a broad range of applications and can be used not only in traumatology but also in other areas of orthopedics as well as in cardiology, dentistry or medical instruments. Finally, in connection with the information contained in this press release, we may also refer to an interview with Prof. Dr. Dr. Volker Alt, Director of the Clinic for Trauma Surgery at the University Hospital Regensburg and an expert in the field of antimicrobial coatings, in which he talks about implant-related infections in connection with antibiotic resistance and also makes a clear case for the need for antibacterial coatings on implants that are not based on antibiotics (https://www.youtube.com/watch?v=q1UluZIkrMo). Forward-looking statements [1] Global burden of bacterial antimicrobial resistance in 2019: a systematic analysis; Antimicrobial Resistance Collaborators; Published: January 19, 2022; DOI: https://doi.org/10.1016/S0140-6736(21)02724-0 Contact: aap Implantate AG; Marek Hahn; Member of the Management Board/ CFO; Lorenzweg 5; D-12099 Berlin Tel.: +49/30/750 19 - 134; Fax.: +49/30/750 19 - 290;m.hahn@aap.de 06.04.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1321841 |
End of News | DGAP News Service |
Turnaround in FY/2021: Significant sales growth (+30%) and substantially improved EBIDTA (+84%) - clear trend towards black zero
Turnaround in FY/2021: Significant sales growth (+30%) and substantially improved EBIDTA (+84%) - clear trend towards black zero
DGAP-News: aap Implantate AG / Key word(s): Annual Results/Annual Report
- Sales: EUR 12.2 million (+30% yoy) - CER[1]: +32% yoy; all markets with significant double-digit growth rates - EBITDA: EUR -0.8 million (+84% yoy); operating cash flow +33% yoy - Silver: Start of human clinical study in December 2021 - already promising clinical data from individual healing trials beforehand - Successful refinancing, in particular via shareholder loans and capital increase with significant oversubscription - After 2 years, unqualified audit opinion again for annual financial statements 2021 - Outlook FY/2022: Sales between EUR 14.0 and 16.0 million (+15% to +31%) as well as positive EBITDA and almost balanced free cash flow planned for first time for entire Company (excl. costs silver, esp. human clinical study); EBITDA entire Company (incl. costs silver) of EUR -1.7 to -0.5 million
aap Implantate AG ("aap" or the "Company") succeeded in turning around sales and earnings in a challenging financial year 2021. Despite the continuing partly massive impact of the COVID-19 pandemic, aap recorded significant sales growth (+30%) to EUR 12.2 million last year (FY/2020: EUR 9.3 million) and consequently achieved a figure within the forecast range of EUR 12.0 to 14.0 million. EBITDA improved substantially (+84%) to EUR -0.8 million (FY/2020: EUR -4.8 million) and was thus at the upper end of the guidance of EUR -2.0 million to EUR -0.7 million raised in September 2021. If one additionally considers the positive development of operating cash flow (+33%), the trend towards a black zero is clearly recognizable. FY/2021 - Key financial figures
* In FY/2020, sales development was still reported for the regions Germany, USA (distributors and global partners), International (excluding USA; Europe (excluding Germany), BRICS countries and RoW). The reclassification has been made in the context of the financial reporting for Q3 and 9M/2021, respectively.
Looking at the individual regions, it can be seen that aap was able to realize significant double-digit sales increases in all major markets in financial year 2021. The growth in the EMEA region (= Europe, Middle East, Africa; +26%) is based on a revival of business in the Middle East, new customer acquisition e.g. in Egypt, and a significant recovery of the South African market, where the pre-COVID-19 level has already almost been reached again. On the other hand, aap succeeded in stabilizing sales in its largest single market Spain, which had to struggle noticeably with the adversities of the COVID-19 pandemic. In addition, the Company recorded sales growth in its home market Germany despite the relatively late end of the lockdown in June and was additionally again able to conclude contracts with all purchasing associations, providing a good basis for financial year 2022. In North America, aap remains on a growth track and was able to significantly increase sales (+21%). Decisive for the growth momentum were in particular the contracts concluded with US-wide purchasing associations and networks, which give aap access to a large number of clinics and surgical operation centers and thus also create a promising basis for the months ahead. In Latin America (+90%), aap won new customers in Colombia and Ecuador and also benefited from a noticeable recovery of business in Brazil, Mexico and Puerto Rico. Furthermore, sales increased in the Asia-Pacific region (+20%), where the Company was able to reactivate its business in China, among other things.
With regard to earnings, aap was able to significantly improve EBITDA in financial year 2021. The background to this development is, in addition to the sales growth realized in financial year 2021 and an associated increase in gross margin[2] in absolute terms (EUR +2.9 million) as a key driver, also a reduced cost level. The positive cost development results on the one hand from the implemented restructuring measures, which are reflected in declining other costs and almost stable personnel expenses, and on the other hand from a significant decrease in one-time effects, which in financial year 2020 were still largely characterized by the restructuring and refinancing as well as the revision of the quality management system. In addition, EBITDA in financial year 2021 were positively impacted by one-time effects from, among other things, the termination of a contract with a former distributor and an increase in other operating income (mainly income from the COVID-19 bridging assistance program III and III+). The improvement in EBITDA thus again visibly reflects the successes realized as part of the restructuring, which can be summarized as follows: - Significant increase in gross margin in absolute terms due to profitable sales growth as key driver of earnings improvement - Stabilization of personnel expenses at around prior-year level (non-significant increase of +3% vs. FY/2020) - Declining trend in other costs (-8%) with significantly reduced non-recurring expenses
Cash flow and balance sheet Based on a strong improvement in operating profit, operating cash flow also improved significantly by +33% to EUR -2.5 million. The improvement would have been even more pronounced but was reduced due to extremely strong monthly sales in December, the start of the human clinical study in December and the build-up of inventories for the further planned expansion of sales in working capital. With inflows from investing activities of EUR 0.2 million (mainly from the sale of machinery and a plot of land) and from financing activities of EUR 3.5 million (mainly influenced by the successful capital increase), aap had a liquidity balance of EUR 2.1 million at the end of the year. Looking at the balance sheet, the balance sheet total increased to EUR 23.0 million (+16%) and was primarily characterized by the increase in rights of use (EUR +1.5 million), the reporting date-related increase in trade receivables (EUR +1.3 million) and the increase in cash and cash equivalents (EUR +1.2 million). On the liabilities side, current and non-current liabilities increased by EUR 0.8 million, while equity rose by +24% to EUR 12.8 million due to the negative result for the period and the effects of the capital increase. Based on this, the Company shows a solid equity ratio of 56% (+4 PP) as of 31 December 2021. Overall, the turnaround can also be clearly seen here: A healthy balance sheet structure as well as the focus on financing the sales growth of an operationally sustainable basic structure and the promising development projects, whereby the trend towards a black zero is also clearly evident here. Outlook In financial year 2022, aap intends to grow further in terms of sales and earnings and to press ahead with the human clinical study for its innovative antibacterial silver coating technology that started in December 2021. In addition, a key focus will be on implementing activities as planned to achieve certification under the new EU Medical Device Regulation (MDR 2017/745/EU) within the transition period until 2024. Based on the successfully completed capital increase, a significant portion of the net proceeds raised shall be used to finance the planned sales growth and the execution of the human clinical study for the antibacterial silver coating technology. In order to accelerate further sales growth, extensive investments have already been made in sales structures and teams, particularly in North America and Germany. Overall, all markets shall contribute to the planned sales growth, with a continued focus on North America. The Management Board continues to monitor and assess very closely the global impact of the COVID-19 pandemic and the conflict between Russia and Ukraine on aap's business activities and financial results. Not included in the following forecast statements are: - A significant tightening of sanctions against Russia or a change in the interpretation of existing sanctions - An expansion of the conflict situation outside Ukraine - An additional significant increase in energy and raw material prices due, among other things, to the war in Ukraine or as a result of the associated sanctions - Further virus mutations (COVID-19 pandemic) leading to a significant deterioration in the infection situation with corresponding lockdown measures or other restrictions in the sales regions relevant to aap or resulting in production stoppages at the Berlin site or at aap's service providers/suppliers
The Management Board's overriding and long-term goal is to generate a sustainable positive result and thus transform aap into a financially sound and independent growth company. ------------------------------------------------------------------------------------------------------------------------------------------- About aap Implantate AG 31.03.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1316031 |
End of News | DGAP News Service |
Successful completion of FY/2021 with +34% growth in Q4 leading to significant sales increase in 2021 (+30%); further sales growth and EBITDA improvement planned for FY/2022
Successful completion of FY/2021 with +34% growth in Q4 leading to significant sales increase in 2021 (+30%); further sales growth and EBITDA improvement planned for FY/2022
DGAP-News: aap Implantate AG / Key word(s): Preliminary Results/Forecast - Sales +30% (FY/2021) to EUR 12.2 million and +34% (Q4) to EUR 3.2 million (CER[1]: +32% (FY/2021) and +38% (Q4)) - Significant double-digit growth rates in all regions in FY/2021: LATAM (+90%), EMEA (+26%), North America (+21%) and APAC (+20%) - Extensive investments in sales structures and teams, particularly in North America and Germany, shall accelerate further sales growth - Outlook FY/2022: Sales between EUR 14.0 and 16.0 million and EBITDA of EUR -1.7 to -0.5 million - Positive EBITDA and nearly balanced free cash flow planned for first time for entire Company excl. costs for silver coating technology, in particular clinical study
aap Implantate AG ("aap" or the "Company") continues to be on a growth track and was able to close the financial year 2021 with a significant increase in sales. According to preliminary figures, sales increased by +30% to EUR 12.2 million in the past year (FY/2020: EUR 9.3 million) and by +34% to EUR 3.2 million in the fourth quarter of 2021 (Q4/2020: EUR 2.4 million).
* In FY/2020, sales development was still reported for the regions Germany, USA (distributors and global partners), International (excluding USA; Europe (excluding Germany), BRICS countries and RoW). The reclassification has been made in the context of the financial reporting for Q3 and 9M/2021, respectively.
Sales Q4/2021
* In Q4/2020, sales development was still reported for the regions Germany, USA (distributors and global partners), International (excluding USA; Europe (excluding Germany), BRICS countries and RoW). The reclassification has been made in the context of the financial reporting for Q3 and 9M/2021, respectively. Looking at the individual regions, aap achieved significant double-digit sales increases in all major markets in financial year 2021. The growth in the EMEA region (= Europe, Middle East, Africa; +26%) is based on the one hand on a revival of business in the Middle East and a significant recovery of the South African market, where the pre-COVID-19 level has already almost been reached again. On the other hand, aap succeeded in stabilizing sales in its largest single market Spain (approx. 10% of total sales volume), which had to struggle noticeably with the adversities of the COVID-19 pandemic. In addition, the Company recorded sales growth in its home market Germany despite the relatively late end of the lockdown in June and was able to conclude contracts with all purchasing associations, providing a good basis for financial year 2022. In North America, aap remains on a growth track and was able to significantly increase sales both on a full-year basis (+21%) and in the fourth quarter of 2021 (+24%). Thus, in the last three months of the financial year, the Company once again achieved a sales level above the EUR 1 million mark. Decisive for the growth momentum were in particular the contracts concluded with US-wide purchasing associations and networks, which give aap access to a large number of clinics and surgical operation centers. Long-term customer relationships were established particularly through system sales. Overall, the number of operations performed stabilized at a good level following the sharp increase in the first six months, although the effects of the COVID-19 pandemic were felt for the first time in the second half of the year in this market, which is so important for the Company. In Latin America (+90%), aap won new customers in Colombia and Ecuador and also benefited from a noticeable recovery of business in Brazil, Mexico and Puerto Rico. Furthermore, sales increased in the Asia-Pacific region (+20%), where the Company was able to reactivate its business in China, among other things. In the fourth quarter of 2021, aap also realized predominantly high double-digit growth rates in almost all regions. The sales increase was driven by the regions Asia-Pacific (>+100%), EMEA (+50%) and North America (+24%). Outlook In the financial year 2022, aap intends to grow further in terms of sales and earnings and to press ahead with the human clinical study for its innovative antibacterial silver coating technology that started in December 2021. In addition, a key focus will be on the first-time certification under the new EU Medical Device Regulation (MDR 2017/745/EU). Based on the successfully completed capital increase, a significant portion of the net proceeds raised shall be used to finance the planned sales growth and the execution of the human clinical study for the antibacterial silver coating technology. In order to accelerate further sales growth, extensive investments have already been made in sales structures and teams, particularly in North America and Germany. Overall, all markets shall contribute to the planned sales growth, with a continued focus on North America. With its disruptive antibacterial silver coating technology, aap reached another key milestone on the way to the planned CE approval in December with the start of the human clinical study. In financial year 2022, after the University Hospital in Regensburg, further trial centers shall be successively equipped and trained with study materials and the first operations shall be performed. At the same time, aap strives for third-party co-financing for the human clinical study via its subsidiary MCTeQ GmbH (MCTeQ = Medical Coating Technologies). In this context, funding can be provided both through additional grants and through development partnerships with companies from application areas outside traumatology. The Management Board continues to monitor and assess very closely the global impact of the COVID-19 pandemic on aap's business activities and financial results. Based on last year's good developments and the investments already made to finance growth, but at the same time also strongly rising incidence figures worldwide due to the new highly infectious Omicron variant, the visible volatility as a result of COVID-19 and the working and staffing environment in the healthcare sector potentially hampering an accelerated recovery, the Management Board expects sales between EUR 14.0 and 16.0 million for the financial year 2022. In this context, the Management assumes a similar distribution of sales over the individual quarters as in the previous year. With regard to earnings, the Management Board expects EBITDA to be between EUR -1.7 and -0.5 million in financial year 2022 based on the planned sales growth and further efficiency improvements to be realized. Assuming budgetary development in the current financial year, the Management aims to achieve positive EBITDA and an almost balanced free cash flow for the first time for the entire Company, excluding the costs for the silver coating technology and particularly the human clinical study. The above sales and EBITDA forecasts are, however, subject to the condition that the infection situation in the context of the COVID-19 pandemic does not deteriorate further and that corresponding lockdown measures or other restrictions are imposed in the sales regions relevant for aap or that there are temporary production stoppages at the Berlin location or at aap's service providers/suppliers. The sales figures contained in this press release are preliminary figures as of 31 December 2021, which are subject to change until final publication. aap plans to announce the final audited results for the financial year 2021 on 31 March 2022 as part of the consolidated annual financial report 2021. ------------------------------------------------------------------------------------------------------------------------------------------- About aap Implantate AG 24.01.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1271554 |
End of News | DGAP News Service |
aap: Supervisory Board extends Management Board contracts until end of 2023
aap: Supervisory Board extends Management Board contracts until end of 2023
DGAP-News: aap Implantate AG / Key word(s): Personnel aap Implantate AG ("aap" or the "Company") announces that the Supervisory Board resolved to extend the contracts of Chairman of the Management Board (CEO) Rubino Di Girolamo and the two Management Board members Marek Hahn (CFO) and Agnieszka Mierzejewska (COO) by two years until the end of the financial year 2023. "Over the past 2.5 years, under the leadership of Mr. Di Girolamo, the Management Board has managed to get aap back on track through extensive restructuring and refinancing despite severely hampered conditions caused by the COVID-19 pandemic," says Dr. med. Nathalie Krebs, Chairwoman of aap's Supervisory Board. "The next step is now to continue consistently on the way chosen and to achieve the operational and strategic goals that have been set. We are firmly convinced that with the Management Board in this constellation we are excellently positioned to lead aap on a profitable growth path after the successful transformation and repositioning and thereby create sustainable value for our shareholders." Rubino Di Girolamo (59) has been aap's Chairman of the Management Board (CEO) since May 2019. He is responsible for Corporate Development, Research & Development Future Technologies, Corporate Risk and Compliance Management. Marek Hahn (46) has held the position of member of the Management Board (CFO) at aap since April 2010. In his function as CFO he is responsible for Finance/Controlling, Human Resources, IT, Legal Affairs, Investor and Public Relations as well as Administration. Agnieszka Mierzejewska (39) has been a member of the Management Board (COO) at aap since January 2021. She is responsible for Sales & Marketing, Production, Research & Development Trauma, Quality Assurance and Regulatory Affairs. ------------------------------------------------------------------------------------------------------------------------------------------- 17.12.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1259572 |
End of News | DGAP News Service |
aap launches world's first human clinical study for antibacterial silver coating technology on anatomical plates and screws for fracture treatment
aap launches world's first human clinical study for antibacterial silver coating technology on anatomical plates and screws for fracture treatment
DGAP-News: aap Implantate AG / Key word(s): Study aap Implantate AG ("aap" or the "Company") announces that the human clinical study for its innovative antibacterial silver coating technology started yesterday. The University Hospital in Regensburg is the first trial center which was equipped with the study materials and trained to perform surgeries with the Company's silver coated implants. aap thus achieves another major milestone on the way to the planned CE approval and is at the same time the first company in the world to test an antibacterial silver coating on anatomical plates and screws for fracture treatment as part of a study of this kind. With its antibacterial silver coating technology, aap addresses one of the greatest and yet inadequately solved challenges in traumatology: the reduction of surgical site infections (SSI). Surgical site infections represent a major burden both for the patients concerned and for global healthcare systems. Antibiotic-resistant bacteria pose a particular threat. In its annual report on the state of research to overcome antibiotic resistance, the WHO recently found that some of the world's most dangerous bacteria have developed resistance to known drugs.[1] Moreover, according to the WHO, almost all antibiotics currently in development work little better than existing drugs. aap's innovative antibacterial silver coating technology represents an alternative solution in the fight against bacterial infections that is not based on antibiotics and therefore offers enormous market potential. As a platform technology, the technology has a broad range of applications and can be used not only in traumatology but also in other areas of orthopedics as well as in cardiology, dentistry, or medical instruments. In the future, aap will report regularly on the progress of the human clinical study for its innovative silver coating technology. ------------------------------------------------------------------------------------------------------------------------------------------- For queries, please contact: aap Implantate AG; Fabian Franke; Head of Investor Relations; Lorenzweg 5; 12099 Berlin, Germany; Phone: +49 (0)30 75019 - 134; Fax: +49 (0)30 75019 - 290; Email: f.franke@aap.de 10.12.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1256130 |
End of News | DGAP News Service |
Adjustment of conversion price of convertible bond 2020/2023 (ISIN DE000A3E46M4) to EUR 1.61 after implemented capital increase
Adjustment of conversion price of convertible bond 2020/2023 (ISIN DE000A3E46M4) to EUR 1.61 after implemented capital increase
DGAP-News: aap Implantate AG / Key word(s): Miscellaneous The convertible bond 2020/2023 of aap Implantate AG ("aap" or the "Company") is divided into partial bearer bonds ("bonds") with a nominal value of EUR 1.75 each, ranking pari passu among themselves. In accordance to the terms and conditions of the bonds, each bondholder is entitled to convert each bond initially at its nominal value into ordinary bearer shares (no-par value shares) in aap with a pro rata amount of the share capital of EUR 1.00. On the basis of the capital increase against cash contributions with subscription and oversubscription rights of the Company's shareholders out of the authorized capital 2019/I resolved by the Management Board and Supervisory Board on 27 September 2021, aap published on 29 September 2021 a subscription offer for up to 1,500,000 new ordinary bearer shares (no-par value shares) in aap with a pro rata amount of the share capital of EUR 1.00 per share. Shareholders were granted the statutory subscription right. 1,500,000 new shares were issued at a subscription price of EUR 3.30. Section 11 of the terms and conditions of the bonds provides for this case that the creditors of the bonds are protected against dilution. In addition to the granting of a subscription right or the payment of a subscription right compensation amount, the adjustment of the conversion price is also possible. aap hereby announces that the conversion price of the bonds has been reduced by EUR 0.14 to EUR 1.61 per share in accordance with the terms and conditions of the bonds. ------------------------------------------------------------------------------------------------------------------------------------------- For queries, please contact: aap Implantate AG; Fabian Franke; Head of Investor Relations; Lorenzweg 5; 12099 Berlin, Germany; Phone: +49 (0)30 75019 - 134; Fax: +49 (0)30 75019 - 290; Email: f.franke@aap.de 25.11.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1252044 |
End of News | DGAP News Service |
Ongoing impact of aap's restructuring clearly reflected in Q3 and 9M sales, earnings, and cash flow
Ongoing impact of aap's restructuring clearly reflected in Q3 and 9M sales, earnings, and cash flow
DGAP-News: aap Implantate AG / Key word(s): 9 Month figures/Quarter Results
- Sales increased 15% (Q3) to EUR 3.0 million and 29% (9M) to EUR 8.9 million (CER[1]: 18% (Q3) and 39% (9M)) - Continued positive EBITDA in Q3 and 9M; >+100% increase (Q3) to KEUR 20 and >+100% (9M) to EUR 0.1 million - Operating cash flow balanced for first time in Q3; +87% improvement to EUR -0.4 million (9M); still clear trend towards black zero - Promising clinical data for antibacterial silver coating technology
aap Implantate AG ("aap" or the "Company") continued profitable growth with double-digit sales increases and positive EBITDA in both the third quarter and the nine-month period of 2021. Q3/2021 and 9M/2021 - Key results and progress - Sales by regions: Growth drivers in Q3 especially regions LATAM (= Latin America; >+100%) and APAC (= Asia Pacific; +80%) as well as in 9M LATAM (>+100%), North America distribution business (+35%) and EMEA (= Europe, Middle East, Africa; +18%) - North America: Sales increase in distribution business in Q3 (+7%) and in 9M (+35%); overall US market continues to grow significantly in 9M (+19%) - Earnings: Recurring EBITDA improved to black zero in Q3 (Q3/2020: EUR -0.4 million) and to EUR -0.4 million in 9M (9M/2020: EUR -3.3 million) - Operational trauma business: Positive result (Recurring EBITDA) in Q3 and 9M[2] - Gross margin and costs: Gross margin[3] remains stable at high level of 85% in 9M and with increase in gross margin in absolute terms in line with sales growth key driver of earnings improvement; reduced cost level with declining personnel (-11% in 9M) and other costs (-15% in Q3 and -13% in 9M) as well as significant decrease in one-time effects - Balance sheet: Equity ratio at a good level of 45% (31.12.2020: 52%) - Financing: Successful completion of capital increase with subscription rights with significant oversubscription led to net inflow of approx. EUR 4.8 million - Silver coating technology: Promising clinical results after use of three silver-coated aap plate systems in IIT study and two individual healing trials in patients with particularly severe infections and complex bone fracture healing disorders; start of human clinical study in Q4/2021 - Resorbable magnesium implant technology: Continued talks with technology-savvy investors on financing up to complete sale of technology
* In Q3/2020, sales development was still reported for the regions Germany, USA (distributors and global partners), International (excluding USA; Europe (excluding Germany), BRICS countries and RoW). The reclassification has been made in the context of the current financial reporting.
Sales 9M/2021
* In 9M/2020, sales development was still reported for the regions Germany, USA (distributors and global partners), International (excluding USA; Europe (excluding Germany), BRICS countries and RoW). The reclassification has been made in the context of the current financial reporting.
In North America, aap's distribution business continued to grow in the third quarter of 2021 (+7%) and showed a further dynamic development in the first nine months as well (+35%), but at the same time felt the effects of the COVID-19 pandemic for the first time. Thus, COVID-19-related hospital stays increased steadily in the period from the end of July to the beginning of September and surgery appointments were cancelled. In the overall US market, sales development in the third quarter of 2021 stabilized at the prior-year level, as the third quarter of 2020 still included follow-up orders from a large order placed by a global partner in the first quarter of 2020, whereas only consumables were ordered in much lower volumes thereafter. In the first nine months of 2021, aap recorded an increase in sales in North America (+19%) and is thus still clearly on a growth track overall. EBITDA Q3
EBITDA 9M
- Stabilization of gross margin at a high level of 85% and with increase in gross margin in absolute terms in line with sales growth key driver of earnings improvement - Stabilization of personnel expenses in Q3/2021 at prior-year level (non-significant increase - Declining trend in other costs (-15% in Q3/2021 and -13% in 9M/2021) with significantly reduced non-recurring expenses
In connection with its innovative antibacterial silver coating technology, aap was able to achieve promising clinical results in three operations with silver-coated plate systems as part of an IIT study and two individual healing trials in patients with particularly severe infections and complex fracture healing disorders. In all three cases, excellent healing processes were recorded, and no indications of infections were found. In addition, measurements of the silver concentration in two of these procedures showed that there was only a relevant increase in the silver concentration locally in the area of the wound where the antibacterial effect is needed. The overall very good results are a positive indication for the planned multicenter human clinical study that aap will start in Germany before the end of the fourth quarter of 2021 to obtain CE approval. The Company will use the funds from the successful capital increase to equip the first participating clinics with silver-coated implants by the end of the year, which will mark the official start of the study. With a view to securing further financing, aap successfully completed a capital increase with subscription rights in October. The capital increase met with great interest from both existing and new investors and was in the end significantly oversubscribed. All in all, all 1.5 million shares offered were placed at a subscription price of EUR 3.30, so that after deduction of consultancy and other costs the Company received a net inflow of around EUR 4.8 million. aap takes this as a clear appreciation of the performance of the management and the employees in the Company's transformation process in the very challenging times of the COVID-19 pandemic. The Management Board also sees this result as a sign of support for the corporate strategy pursued, both in terms of short-term performance metrics and long-term value creation.
Outlook The Management Board continues to closely monitor and assess the global impact of the COVID-19 pandemic on aap's business activities and financial results. Based on the third quarter 2021 results, currently strongly rising incidence figures in Germany as well as in many regions worldwide, the visible volatility as a result of COVID-19 and the labor and staffing environment in the healthcare sector potentially hampering an accelerated recovery, the Company now expects sales at the lower end of the guidance range of EUR 12.0 million to EUR 14.0 million. On the earnings side, management expects EBITDA to be in the upper half of the guidance range of EUR -2.0 million to EUR -0.7 million. The above sales and EBITDA forecasts are, however, subject to the condition that the infection situation in the context of the COVID-19 pandemic does not deteriorate further and that corresponding lockdown measures or other restrictions are imposed in the sales regions relevant for aap or that there are temporary production stoppages at the Berlin location or at aap's service providers/suppliers. 12.11.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1248586 |
End of News | DGAP News Service |
Successful capital increase with significant oversubscription: Appreciation of management's performance in aap's transformation process in COVID-19 times; financing secured at least until end of 2023
Successful capital increase with significant oversubscription: Appreciation of management's performance in aap's transformation process in COVID-19 times; financing secured at least until end of 2023
DGAP-News: aap Implantate AG / Key word(s): Capital Increase/Financing aap Implantate AG ("aap" or the "Company") has successfully completed the capital increase with subscription rights resolved on 27 September 2021. The order book both for placed oversubscriptions and the private placement was significantly oversubscribed, so that demand could not be fully met. In total, all 1,500,000 aap shares offered in the subscription offer were subscribed by shareholders or placed with investors by way of private placement. On the basis of the fixed subscription price of EUR 3.30 per new share, this results in maximum possible gross issue proceeds of EUR 4.95 million. After deduction of consulting fees and other costs, the Company will receive net inflows of around EUR 4.8 million in the short term. "I am very pleased with the outcome of the capital increase and on behalf of the entire Management Board I would like to thank our existing and all new shareholders for their trust and support," says Rubino Di Girolamo, Chairman of the Management Board / CEO of aap. "We take this as a clear appreciation of the performance of the management and the employees in the transformation process of the Company in the very challenging times of the COVID-19 pandemic. We also see this result as a sign of support for the corporate strategy pursued, both in terms of short-term performance metrics and long-term value creation." The issue proceeds from the transaction shall be used to finance the planned sales growth with a focus on the USA (especially investments in sets) and the start of the human clinical study for aap's antibacterial silver coating technology in the fourth quarter of 2021. "The profitable and sustainable expansion of the operational LOQTEQ(R) business, especially with a view to the USA, will continue to have top priority. We will particularly keep a close eye on the factors of quality, customer satisfaction, sales strategy, optimization projects to increase efficiency and operating costs," says Agnieszka Mierzejewska, Member of the Management Board / COO of aap. "In the long term, our LOQTEQ(R) product portfolio combined with the antibacterial silver coating will give us a unique competitive position." Based on the current and the planned further business development for the coming years, the financing of the operating business and the planned human clinical study for the antibacterial silver coating technology is secured by the net inflows from the capital measure until the end of the financial year 2023. For the following years, the Management Board expects that, if the Company continues to develop according to plan, the operating business shall generate sustainable cash flow surpluses and thus also ensure the execution of the human clinical study for the antibacterial silver coating technology. "In the phase that is now coming, the aim is to consistently achieve the growth targets that have been set and to successively further optimize the value creation process," says Marek Hahn, Member of the Management Board / CFO of aap. "In order to make this transparent, we want to intensify communication between the management and all stakeholders of the company, as such an iterative process supports the strategy implementation within the agreed financial framework." ------------------------------------------------------------------------------------------------------------------------------------------- For queries, please contact: aap Implantate AG; Fabian Franke; Head of Investor Relations; Lorenzweg 5; 12099 Berlin, Germany; Phone: +49 (0)30 75019 - 134; Fax: +49 (0)30 75019 - 290; Email: f.franke@aap.de 21.10.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1242477 |
End of News | DGAP News Service |
aap's transformation continues: Marc Langner strengthens Supervisory Board
aap's transformation continues: Marc Langner strengthens Supervisory Board
DGAP-News: aap Implantate AG / Key word(s): Personnel aap Implantate AG ("aap" or the "Company") announces a change in the composition of its Supervisory Board. As part of aap's further transformation, Mr. Marc Langner (45) will strengthen the Company's supervisory body with effect from 1 November 2021. Marc Langner is the founder and CEO of a listed investment company specializing in venture capital financing. He has many years of experience in management positions at various companies and has extensive professional experience in the areas of corporate finance, capital markets and corporate law as well as strategic support for growth companies. Among other things, he worked for one of the Big Four consulting firms in transaction consulting and enterprise valuation and was a member of the Board of Directors of a Swiss-based FinTech company for several years. "Marc Langner can look back on many years in various board and management positions," says Dr. med. Nathalie Krebs, Chairwoman of aap's Supervisory Board. "He is a proven expert in the fields of corporate finance and M&A and additionally has an excellent network. We are very much looking forward to working with him and are sure that aap will benefit from his extensive experience and distinctive financing and transaction competencies." Mr. Langner succeeds by way of court appointment Mr. Biense Visser (69), who will resign from his office as a member of aap's Supervisory Board for personal reasons. His office will end with effect from 31 October 2021. Biense Visser was first elected to the Company's Supervisory Board by the Annual General Meeting in the financial year 2014 and held the position of Chairman until 2019. Previously, Mr. Visser was aap's CEO from 2009 to 2014. "Biense Visser has served aap since 2009 in different roles with enthusiasm and dedication," comments Dr. med. Nathalie Krebs. "As a real team player, he has significantly contributed to aap's transformation from a diversified medical technology company to a pure player in trauma. On behalf of the Supervisory Board, the Management Board, and the entire staff of aap, I would like to express my sincere thanks to Mr. Visser for his commitment and the work he has done for the Company over more than a decade." Mr. Visser comments the change in the Supervisory Board as follows: "The application of aap's silver coating technology in trauma will make the world a better place for many patients around the globe. I want to thank all stakeholders of aap for their continued support of this innovative strategy. As aap now enters the next phase of its transformation, now is a good time for me personally to make room for new talents and competencies." ------------------------------------------------------------------------------------------------------------------------------------------- For queries, please contact: aap Implantate AG; Fabian Franke; Head of Investor Relations; Lorenzweg 5; 12099 Berlin, Germany; Phone: +49 (0)30 75019 - 134; Fax: +49 (0)30 75019 - 290; Email: f.franke@aap.de 14.10.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1240700 |
End of News | DGAP News Service |
Turnaround after successful restructuring paves way for capital increase starting today - Attractive offer for shareholders and new investors
Turnaround after successful restructuring paves way for capital increase starting today - Attractive offer for shareholders and new investors
DGAP-News: aap Implantate AG / Key word(s): Capital Increase/Financing With the turnaround following the successful restructuring of the last two years and the significant sales growth in the first half of 2021, aap Implantate AG ("aap" or the "Company") has laid the foundation for the capital increase starting today. The successes of the extensive restructuring are particularly reflected in a significant improvement in earnings (EBITDA Q2/2021 and H1/2021 both +>100% year-on-year) and a strongly improved operating cash flow (H1/2021: +>100% vs. H1/2020). In this context, aap was able to achieve positive EBITDA in both reporting periods for the first time since focusing on Trauma in 2016. In addition, the Company is clearly on a growth path and was able to record high double-digit sales increases in the first half of the year (Q2/2021: +74% year-on-year, H1/2021: +37% year-on-year). Following the successful restructuring, the Company now urgently needs fresh funds to finance the planned sales growth and to initiate the human clinical study for its innovative antibacterial silver coating technology. Particularly in the U.S., a key focus market for aap, the Company is reaching its limits after the significant sales increases of recent quarters and urgently needs to invest in the sales structure and equipment there in order to be able to press ahead with the expansion with LOQTEQ(R). With the current capital increase, aap now offers its shareholders and new investors the opportunity to participate in the future value development of an innovative and dynamically growing scale-up company (sales forecast FY/2021: +29% to 51% vs. FY/2020). In addition, the two disruptive and highly innovative future technologies - antibacterial silver coating and resorbable magnesium implants - offer further significant value potential, as they can change the medical technology industry sustainably and enable the Company to achieve unique selling points in the market. Particularly the antibacterial silver coating technology, which in times of increasing antibiotic resistance and multi-resistant germs represents an alternative solution in the fight against bacterial infections that is not based on antibiotics, offers enormous market potential. The very good results achieved in the first three human applications in particularly severe infections and complex bone fracture healing disorders with the Company's silver-coated implants are a positive indication for the planned human clinical study that aap aims to launch in Germany in the fourth quarter of 2021. The proceeds from the capital increase are to be used specifically to finance the planned sales growth with a focus on the USA (especially investments in sets) and to initiate the study for the silver coating technology. The subject of the offer is up to 1,500,000 new shares, which will initially be offered to the Company's shareholders for subscription. Shareholders can acquire one new share for every 2.3189 held aap shares during a subscription period, which begins today, 4 October 2021 (0:00 CEST), and is expected to end on 18 October 2021 (24:00 CEST). The subscription price is EUR 3.30 and thus offers an attractive discount of around 24% on the volume-weighted average stock market price of the last month[1]. Following the subscription period, new investors will have the opportunity to acquire unsubscribed new shares in a private placement. At the present time, aap has received legally binding commitments from shareholders and new investors to subscribe to new shares with a total volume of around EUR 2.7 million, which corresponds to around 54% of the capital increase. The Company considers this as a clear vote of confidence and sees itself strengthened in its chosen path of restructuring and repositioning. The capital increase with subscription rights is accompanied by BankM AG. For further details regarding the transaction please refer to the subscription offer, which is available on aap's website (https://www.aap.de/) in the section "Investors / Capital Increase" as well as in the Federal Gazette under https://www.bundesanzeiger.de/. ------------------------------------------------------------------------------------------------------------------------------------------- aap Implantate AG; Fabian Franke; Head of Investor Relations; Lorenzweg 5; 12099 Berlin, Germany; Phone: +49 (0)30 75019 - 134; Fax: +49 (0)30 75019 - 290; Email: f.franke@aap.de 04.10.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1237647 |
End of News | DGAP News Service |
Disruptive antibacterial silver coating technology: Very good results after use of 3 silver-coated implants as positive indication for start of human clinical study in Q4/21
Disruptive antibacterial silver coating technology: Very good results after use of 3 silver-coated implants as positive indication for start of human clinical study in Q4/21
DGAP-News: aap Implantate AG / Key word(s): Study aap Implantate AG ("aap" or the "Company") announces that three implants coated with the Company's innovative antibacterial silver technology have already been implanted in patients. With its antibacterial silver coating technology, aap addresses one of the greatest and as yet inadequately solved challenges in traumatology: the reduction of surgical site infections (SSI). In all three surgeries very good healing processes have been recorded so far and no indications of infections have been detected. In addition, measurements of the silver concentration in two of these operations showed that there was only a relevant increase in the silver concentration locally in the area of the wound where the antibacterial effect is needed. The very good overall results are a positive indication for the planned human clinical study that aap intends to launch in Germany in the fourth quarter of 2021 to obtain CE approval. The interventions were performed as part of an IIT study and two individual healing trials at the University Hospital Regensburg and the Dill Clinics in Dillenburg. These involved particularly severe infections and complex bone fracture healing disorders in which the therapeutic measures used were specifically supplemented by aap's innovative antibacterial silver coating technology to increase the chances of healing. "In addition to the very good healing processes after the operations at our hospital, the results of the silver concentration analysis are particularly positive from my point of view," says Prof. Dr. Dr. Volker Alt, Director of the Clinic for Trauma Surgery at the University Hospital Regensburg and expert in the field of antimicrobial coatings. "Here, there was a desired significant increase in the local silver concentration in the wound, whereas the systematic silver concentration in the rest of the body was very low and therefore completely unproblematic. These are very positive findings that show that the silver ions are released by aap's special coating and essentially only appear where they are actually supposed to act." "I can only confirm the colleague Alt: I also saw an excellent healing process during my operation and could no longer detect any infection activity after ten days," adds Dr. med. Rene Burchard, head physician at the Clinic for Orthopedics & Trauma Surgery at the Dill Clinics in Dillenburg. "If the results are confirmed in the upcoming human clinical study, I see a good chance that such a technology has the potential to become the market standard." Surgical site infections represent a major burden both for the patients concerned and for global healthcare systems. Antibiotic-resistant bacteria pose a particular threat. In its annual report on the state of research to overcome antibiotic resistance, the WHO recently found that some of the world's most dangerous bacteria have developed resistance to known drugs.[1] Moreover, according to the WHO, almost all antibiotics currently in development work little better than existing drugs. aap's innovative antibacterial silver coating technology represents an alternative solution in the fight against bacterial infections that is not based on antibiotics and therefore offers enormous market potential. As a platform technology, the technology has a broad range of applications and can be used not only in traumatology but also in other areas of orthopedics as well as in cardiology, dentistry or medical instruments. Against this background aap will exploit the unique competitive advantage of its silver coating technology exclusively for aap's product portfolio and at the same time make the technology available to non-competing markets. In areas of application outside traumatology aap is already in contact with leading medical technology companies and has carried out initial test coatings. The aim is to demonstrate the possible use of silver coating technology on products that do not belong to aap and thus to create the preconditions for the conclusion of joint development projects in the next twelve to 18 months. To obtain CE approval for its innovative antibacterial silver coating technology, aap plans to start a human clinical study in Germany in the fourth quarter of this year for which all regulatory requirements have already been met (BfArM and ethics committee approvals) and which is being funded by the German Federal Ministry of Education and Research ("BMBF"). However, this presupposes that the infection situation does not deteriorate again in the context of the COVID 19 pandemic and that corresponding lockdown measures are imposed. As a matter of principle, aap is striving for co-financing of the human clinical study by third parties and is also evaluating further cooperation opportunities. Against this background, a new subsidiary, MCTeQ GmbH (MCTeQ = Medical Coating Technologies), was founded at the end of the financial year 2020, into which the silver coating technology will be incorporated. This should make it possible to manage the technology development more flexibly and in a more targeted manner and to implement the desired co-financing. Currently, aap is examining the short-term implementation of equity-based transactions via the capital market, such as a capital increase, to finance further growth and also to provide start-up financing for the study. ------------------------------------------------------------------------------------------------------------------------------------------- For queries, please contact: aap Implantate AG; Fabian Franke; Head of Investor Relations; Lorenzweg 5; 12099 Berlin, Germany; Phone: +49 (0)30 75019 - 134; Fax: +49 (0)30 75019 - 290; Email: f.franke@aap.de 21.09.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1234731 |
End of News | DGAP News Service |
aap with positive EBITDA in Q2 and H1/2021 for first time since focusing on trauma and significant sales growth of +74% (Q2) and +37% (H1)
aap with positive EBITDA in Q2 and H1/2021 for first time since focusing on trauma and significant sales growth of +74% (Q2) and +37% (H1)
DGAP-News: aap Implantate AG / Key word(s): Half Year Results/Half Year Report aap Implantate AG ("aap" or the "Company") remains on growth track with significant double-digit sales increases in the second quarter and first half of 2021 and achieved positive EBITDA in both reporting periods for the first time since focusing on trauma in 2016. aap increased sales by a significant 74% and 37% year-on-year in the second quarter and the first six months of financial year 2021 to EUR 3.3 million (Q2/2020: EUR 1.9 million) and EUR 6.0 million (H1/2020: EUR 4.4 million), respectively. Taking constant exchange rates into account, the growth rates were even 79% (Q2) and 41% (H1). On the earnings side, the Company generated positive EBITDA in both the second quarter and first half of 2021 of EUR 0.3 million (Q2/2020: EUR -2.1 million) and EUR 0.1 million (H1/2020: EUR -4.3 million), respectively, visibly reflecting the success of the restructuring. Q2/2021 and H1/2021 - Key results and progress - Sales by region: Particularly strong development in international business (Q2: >+100%, H1: +59%), but Germany also continues to recover (Q2: +3%, H1: +9%) - USA: Continued dynamic growth with significant sales increases (Q2: +72%, H1: +30%); sales level above EUR 1 million mark for first time in Q2 - Earnings: Significant improvement in EBITDA to EUR 0.3 million in Q2 (Q2/2020: EUR -2.1 million) and EUR 0.1 million in H1 (H1/2020: EUR -4.3 million); recurring EBITDA also noticeably improved to EUR -0.1 million (Q2/2020: EUR -1.5 million) and EUR -0.4 million (H1/2020: EUR -2.9 million) - Operational trauma business: Break-even result (recurring EBITDA) for first time since focusing on trauma in 2016[1] - Gross margin and costs: Gross margin[2] stabilized at high level of 87% in H1 and with increase in gross margin in absolute terms in line with sales growth key driver of earnings improvement; sharply reduced cost level with declining personnel (-17% in H1) and other costs (-22% in Q2 and -12% in H1) as well as significant decrease in one-time effects - Cash flow: Noticeable improvement in operating cash flow to EUR -0.4 million in H1 compared to previous years (financing requirement of approx. EUR 2.0 million) with clear trend towards black zero - Balance sheet: Equity ratio at a good level of 46% (31.12.2020: 52%) - Financing: Granting of further shareholder loans from major shareholders (approx. EUR 1.0 million) as well as inflows from COVID-19 aid program "Überbrückungshilfe III" and sale of land (together approx. EUR 0.9 million); measures to be implemented in short term in H2 to finance sales growth and human clinical study silver coating technology under evaluation - Silver coating technology: Three silver-coated aap plate systems used for first time in IIT study and two individual healing trials in patients with severe infections - very good healing processes and no indications of infections so far - results are positive indication for human clinical study with planned start in FY/2021 - Resorbable magnesium implant technology: Focus on securing financing for further development - intensive talks with technology-savvy investors on financing up to complete sale of technology
Sales Q2/2021
*In FY/2020, approximately KEUR 10 that was actually attributable to Germany was reported in Europe. The reclassification has been made as part of the current financial reporting.
Sales H1/2021
*In FY/2020, approximately KEUR that was actually attributable to Germany was reported in Europe. The reclassification has been made as part of the current financial reporting.
In the USA, aap continued its dynamic growth track with significant sales increases (Q2: +72%, H1: +30%) and in the second quarter of 2021 for the first time achieved a sales level above the EUR 1 million mark. EBITDA Q2
EBITDA H1
In both the second quarter and the first half of 2021, aap was able to significantly improve earnings and achieved positive EBITDA for the first time since focusing on the trauma segment in 2016. The background to these developments is, in addition to the increase in gross margin in absolute terms in line with the noticeable sales growth as key driver, also a sharply reduced cost level. The positive cost development resulted on the one hand from the implemented restructuring measures, which are reflected in declining personnel and other costs, and on the other hand from a significant decrease in one-time effects, which in the first half of 2020 were still largely characterized by the restructuring and refinancing as well as the revision of the quality management system. In addition, EBITDA was positively impacted by a one-time effect from the termination of a contract with a former distributor and an increase in other operating income, which, in addition to payments from the COVID-19 aid program "Überbrückungshilfe III", was also attributable to the reversal of provisions. The significant improvement in EBITDA thus visibly reflects the successes realized as part of the restructuring, which can be summarized as follows: - Stabilization of gross margin at high level of 87% (H1/2020: 87%) and increase in gross margin in absolute terms in line with sales growth as key driver of earnings improvement - Decrease in personnel expenses by 17% or EUR 0.7 million to EUR 3.2 million compared to H1/2020 - Declining trend in other costs (-22% in Q2 and -12% in H1) with significantly reduced non-recurring expenses
Looking at the development of the pure operating trauma business, aap succeeded in breaking even (recurring EBITDA) in the first half of the year for the first time since focusing on the trauma segment in 2016. This is again a confirmation for the implemented restructuring and transformation measures, but also an incentive to build up a sustainably profitable trauma business with further growing sales. With regard to its innovative antibacterial silver coating technology, aap achieved another important milestone in the first half of 2021. For the first time three aap silver-coated plate systems were used in patients as part of an IIT study and two individual healing trials. These involved particularly complex fractures and/or severe infections in which the therapy measures used were specifically supplemented by the silver coating technology to increase the chances of healing. In all three cases, healing proceeded very well in the weeks following the procedures and there is no evidence of infection to date. The results are a positive indication for the planned human clinical study, which is to be started in Germany this year to obtain CE approval. A key focus in the second half of the year will continue to be on securing aap's further financing. In this context, further measures were successfully implemented in the first half of the year. In addition to the granting of additional shareholder loans by major shareholders with a total volume of around EUR 1 million, the main factors here were the first-time qualification for the government's COVID-19 aid program "Überbrückungshilfe III", and a sale of land in Brandenburg, as a result of which aap received a total of EUR 0.9 million. Further steps must now be taken in the second half of the year to secure the Company's long-term financing. Following the successful restructuring, aap urgently needs fresh funds to finance the planned sales growth and the start of the human clinical study for the antibacterial silver coating technology. Accordingly, various measures are currently being evaluated for implementation in the short term. These range from equity-based transactions via the capital market, such as a capital increase, to corporate transactions (e.g. mergers, share or asset deals, and carve-outs) with a focus on targeted financing for the silver coating and magnesium implant technologies. Outlook In the second half of 2021, in addition to the implementation of necessary measures to secure aap's financing, the focus will be in particular on the planned start of the human clinical study for the innovative antibacterial silver coating technology. In terms of sales, the Management Board anticipates an increase in the second half of 2021 compared to the first six months of the financial year and, on the basis of a properly filled order book, expects sales of between EUR 3.0 million and EUR 3.4 million for the third quarter. With regard to earnings, aap aims to achieve positive EBITDA in the operative trauma business for the first time in the further course of the financial year 2021, assuming development according to plan. Taking into account the full R&D project costs and before possible co-financing, the Management Board expects Group EBITDA to be at the upper end of the guidance communicated in January. However, the above forecasts for sales and EBITDA are subject to the condition that the infection situation in the context of the COVID-19 pandemic (virus mutations) does not deteriorate again and corresponding lockdown measures are imposed in the sales regions relevant for aap. ------------------------------------------------------------------------------------------------------------------------------------------- For queries, please contact: aap Implantate AG; Fabian Franke; Head of Investor Relations; Lorenzweg 5; 12099 Berlin, Germany; Phone: +49 (0)30 75019 - 134; Fax: +49 (0)30 75019 - 290; Email: f.franke@aap.de 13.08.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1225843 |
End of News | DGAP News Service |
aap: Significant sales increases in Q2 (+74%) and H1 (+37%) underline growth targets for FY/2021; USA for first time with EUR 1 million sales quarter
aap: Significant sales increases in Q2 (+74%) and H1 (+37%) underline growth targets for FY/2021; USA for first time with EUR 1 million sales quarter
DGAP-News: aap Implantate AG / Key word(s): Half Year Results/Preliminary Results aap Implantate AG ("aap" or the "Company") recorded significant sales growth in both the second quarter and the first half of 2021. According to preliminary figures, aap increased sales in the second quarter of 2021 by a noticeable 74% year-on-year to EUR 3.3 million (Q2/2020: EUR 1.9 million). In the first six months of the current financial year, sales also increased significantly by 37% year-on-year to EUR 6.0 million (H1/2020: EUR 4.4 million). Taking into account constant exchange rates, the growth rates were even 79% (Q2) and 41% (H1). Overall, aap thus continues to be on a growth track after the good start in the first quarter and underlines its ambitious growth targets for the financial year 2021 (+29 to +61% vs. FY/2020) with the significant sales increases in the second quarter. Sales Q2/2021
Sales H1/2021
Looking at the individual regions, against the backdrop of the relaxation of COVID-19 measures implemented in many places and progressing vaccination campaigns, aap was able to record a recovery in business in all major markets and realize in some cases very significant sales increases. International business developed particularly strongly (Q2: >+100%, H1: +59%). This positive development is based on the one hand on recovery trends in important markets such as Brazil, Mexico and South Africa compared with the COVID-19 impacted reference periods of the previous year, and on the other hand on the strong growth rates of Spain and Saudi Arabia, which were even able to overcompensate for their losses from financial year 2020. In Germany, too, the Company continues to recover following the lifting of numerous pandemic measures (Q2: +3%, H1: +9%), although growth here was lower than in the other core markets. This was primarily due to the relatively late end of the lockdown in Germany, where many restrictions were not lifted until the beginning of June this year. Even though Germany has not yet returned to the level of the pre-COVID-19 year 2019, an upward trend was already discernible in June following the easing of the COVID-19 measures, suggesting further growth. In the USA, aap continued its dynamic growth course with significant sales increases (Q2: +72%, H1: +30%) and in the second quarter of 2021 for the first time achieved a sales level above the EUR 1 million mark. In doing so, the Company was able to significantly increase the number of surgeries performed to around 550 in the second quarter (+45% vs. Q2/2020), thus stabilizing at a good level after the positive first quarter (>500 surgeries). Based on this, sales in the US distribution business increased by a strong 77% (Q2) respectively 51% (H1). A decline was recorded in the business with global partners, as the first quarter of 2020 still included a large order from a global partner, which thereafter only ordered consumables in a much smaller volume. The second quarter of 2021 also includes a one-time effect from the termination of a contract with a former distributor, which was recognized in sales with around EUR 0.2 million. The figures contained in this press release are preliminary values as of 30 June 2021, which are subject to change until final publication. aap plans to announce the final results for the second quarter and the first half of 2021 on 13 August 2021. ------------------------------------------------------------------------------------------------------------------------------------------- For queries, please contact: aap Implantate AG; Fabian Franke; Head of Investor Relations; Lorenzweg 5; 12099 Berlin, Germany; Phone: +49 (0)30 75019 - 134; Fax: +49 (0)30 75019 - 290; Email: f.franke@aap.de 27.07.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1220742 |
End of News | DGAP News Service |
Antibacterial silver coating technology: aap's silver coated implant used for first time in patient
Antibacterial silver coating technology: aap's silver coated implant used for first time in patient
DGAP-News: aap Implantate AG / Key word(s): Study aap Implantate AG ("aap") announces that as part of a non-commercial study (so-called IIT study; IIT = Investigator Initiated Trial) at University Hospital Regensburg, an implant coated with the Company's innovative antibacterial silver technology has been implanted in a patient for the first time ever. The implantation is part of a clinical study led by Prof. Dr. Dr. Volker Alt, Director of the Clinic for Trauma Surgery at the University Hospital Regensburg and expert in the field of antimicrobial coatings. In the surgery the silver coated LOQTEQ(R) Distal Tibial/Fibula Plate System 3.5 for the treatment of ankle fractures was used. The IIT study aims to demonstrate that the use of silver coated implants in complex initial situations, such as chronic bone infections, leads to a good treatment outcome with avoidance of amputations in the affected patients. "Three weeks after the first use of a silver coated implant from aap, the healing process looks very encouraging regarding the skin and wound conditions. The wound conditions are inconspicuous and there is no indication of infection so far. Overall, the course is very satisfactory up to now," says Prof. Dr. Dr. Volker Alt. "Silver is excellently suited for coating medical implants because it has a very broad spectrum of activity and, unlike antibiotics, there is currently no relevant resistance to silver. Thus, in addition to its use as a coating for bone implants, silver is also interesting for other implants, such as in cardiac or neurosurgery, and therefore has very great future potential." With its innovative antibacterial silver coating technology, aap is addressing one of the greatest and as yet inadequately solved challenges in traumatology: the reduction of surgical site infections (SSI). Surgical site infections represent a major burden both for the patients affected and for global healthcare systems. Antibiotic-resistant bacteria pose a particular threat here. For example, in its annual report on the state of research to overcome antibiotic resistance, the WHO recently found that some of the world's most dangerous bacteria have developed resistance to known agents.[1] Moreover, according to the WHO, nearly all antibiotics currently in development work little better than existing agents. aap's innovative antibacterial silver coating technology represents an alternative solution in the fight against bacterial infections that is not based on antibiotics and therefore offers enormous market potential. As a platform technology, the technology has a broad range of applications and can be used not only in traumatology but also in other areas of orthopedics as well as in cardiology and neurology, dentistry, or medical instruments. Against this background, aap will also make its silver coating technology available to non-competing markets while exploiting its unique competitive advantage exclusively for aap's product portfolio. In areas of application outside traumatology, aap has already launched collaborations with leading medical technology companies and carried out initial test coatings. The aim is to demonstrate the potential use of the silver coating technology on products not manufactured by aap and thus create the preconditions for concluding joint development projects in the second half of 2021. To obtain CE approval for its innovative antibacterial silver coating technology, aap plans to conduct a human clinical study in Germany for which all regulatory requirements have already been met (BfArM and ethics committee approvals). In view of the current forecasts for the COVID-19 pandemic, which show a clear easing of the infection situation and allow further easing in everyday life, aap will start the clinical study this year after a necessary preparatory phase. For the intended market approval in the U.S., aap intends to finalize the approval pathway with the FDA in financial year 2021 and prepare necessary documents for submission to the agency. In principle, aap strives for co-financing of the human clinical study by third parties and is also evaluating further cooperation opportunities. Against this background, a new subsidiary, MCTeQ GmbH (=Medical Coating Technologies), was founded at the end of the financial year 2020, into which the silver coating technology will be incorporated. This shall make it possible to manage technology development in a more flexible and targeted manner and to implement the desired co-financing. ------------------------------------------------------------------------------------------------------------------------------------------- For queries, please contact: aap Implantate AG; Fabian Franke; Head of Investor Relations; Lorenzweg 5; 12099 Berlin, Germany; Phone: +49 (0)30 75019 - 134; Fax: +49 (0)30 75019 - 290; Email: f.franke@aap.de 18.06.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1209410 |
End of News | DGAP News Service |
Q1/21: Successful start to the year with sales growth (+9%) and significant earnings improvement (+91%) despite still burdening COVID-19 pandemic - restructuring successes clearly visible
Q1/21: Successful start to the year with sales growth (+9%) and significant earnings improvement (+91%) despite still burdening COVID-19 pandemic - restructuring successes clearly visible
DGAP-News: aap Implantate AG / Key word(s): Quarter Results aap Implantate AG ("aap" or "Company") has successfully started the financial year 2021 with sales growth and a significant improvement in earnings. Although the first quarter continued to be impacted by the still rampant COVID-19 pandemic, aap increased sales by 9% year-on-year to EUR 2.7 million (Q1/2020: EUR 2.5 million). Considering constant exchange rates, the growth rate was even 12%. Regarding earnings, the Company recorded significantly improved EBITDA of EUR -0.2 million in the first quarter of 2021 compared to the corresponding period of the previous year (Q1/2020: EUR -2.2 million), which thus visibly reflects the successes in restructuring. Excluding one-time effects, recurring EBITDA in the first three months of 2021 also improved substantially year-on-year to EUR -0.2 million (Q1/2020: EUR -1.4 million). Q1/2021 - Key results and progress - Sales by region: Recovery of business in Germany (+15%) and internationally (excluding USA; +14%) despite still noticeable impact of COVID-19 pandemic - USA: Continued dynamic development with new record level of surgeries performed per quarter (>500) and sales growth in distribution business (+24%) - Earnings: Significant improvement in EBITDA to EUR -0.2 million (Q1/2020: EUR -2.2 million) due to sales growth, increase in gross margin[1] and sharply reduced cost level; recurring EBITDA adjusted for one-time effects also substantially improved to EUR -0.2 million (Q1/2020: EUR -1.4 million) - Gross margin and costs: Increase in gross margin to 89% (Q1/2020: 86%) primarily due to improved product, customer and price mix as well as efficiency improvements in manufacturing process; sharply reduced cost level with declining personnel (-29%) and other costs as well as significant decrease in one-time effects - Cash flow and balance sheet: Significantly improved EBITDA lead to nearly balanced operating cash flow of EUR -0.2 million (Q1/2020: EUR -2.4 million) - Silver coating technology: Progressing preparations of human clinical study in Germany with focus on stabilization and standardization of production process, data validation and regulatory compliance; further test coatings performed for potential first joint development projects to be completed; ongoing talks with global medical technology companies on potential co-funding of study and further collaboration opportunities - Resorbable magnesium implant technology: Currently intensive and very promising talks with technology-savvy investors to finance the further development up to the complete sale of the technology
Sales Q1/2021
In the USA, aap continues to record dynamic development: In the first three months, more than 500 surgeries were performed with aap products, more than ever before. Based on this, sales in the US distribution business increased by 24% to EUR 0.7 million. In the overall US market, sales development in the first quarter of 2021 stabilized at the level of the previous year, as the first quarter of 2020 was still impacted by a major order from a global partner, which thereafter only ordered consumables on a much smaller scale. Basically, the trend shown - continuous increase in weekly surgeries - supports the achievement of the ambitious growth targets for 2021 in the USA. This momentum is driven particularly by the contracts concluded with US-wide purchasing associations and networks that give aap access to many clinics and surgical operation centers. EBITDA Q1/2021
- Improvement in gross margin to 89% (Q1/2020: 86%) - Significant decrease in personnel expenses by 29% or EUR 0.6 million to EUR 1.6 million compared to Q1/2020 - Declining trend in other costs with significantly reduced one-time expenses (Q1/2021: EUR -0.2 million; Q1/2020: EUR -0.7 million)
Outlook Based on the development in the first quarter, the Management Board is confident that as the COVID-19 pandemic continues to subside in conjunction with the withdrawal of the lockdown measures and thus the opening of the markets, a further dynamization of sales will occur in the coming quarters and thus positive EBITDA can be achieved in the operating trauma business for the first time since the focus on trauma. Accordingly, aap expects sales growth for the second quarter of 2021 and plans a sales level above the EUR 3 million mark (Q2/2020: EUR 1.9 million, H1/2020: EUR 4.4 million) and balanced to slightly positive EBITDA. However, based on the current order situation, this only applies under the condition that the COVID-19 pandemic continues to ease, and no additional drastic lockdown measures are imposed. ------------------------------------------------------------------------------------------------------------------------------------------- For queries, please contact: aap Implantate AG; Fabian Franke; Head of Investor Relations; Lorenzweg 5; 12099 Berlin, Germany; Phone: +49 (0)30 75019 - 134; Fax: +49 (0)30 75019 - 290; Email: f.franke@aap.de 28.05.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1201642 |
End of News | DGAP News Service |
2020 financial statements: visible results under restructuring with significantly improved Recurring EBITDA (+28%) in challenging times of COVID-19 pandemic
2020 financial statements: visible results under restructuring with significantly improved Recurring EBITDA (+28%) in challenging times of COVID-19 pandemic
DGAP-News: aap Implantate AG / Key word(s): Annual Results/Annual Report aap Implantate AG ("aap" or the "Company") achieved sales of EUR 9.3 million (FY/2019: EUR 11.7 million) in a financial year 2020 marked by COVID-19 and thus a figure in the upper half of the guidance of EUR 8.0 million to EUR 10.0 million. Furthermore, despite COVID-19 and extensive restructuring expenses, the Company realized an improved EBITDA of EUR -4.8 million (FY/2019: EUR -5.1 million), which was also in the upper half of the guidance of EUR -5.9 million to EUR -4.5 million raised in October 2020. Excluding one-time effects, Recurring EBITDA improved significantly by +28% to EUR -3.4 million in financial year 2020 (FY/2019: EUR -4.8 million), reflecting the visible results in restructuring despite the massive COVID-19-related sales decline. 2020 - Key results and progress - Sales by region: Sales development in Germany (-21%) and in international business (-39%) significantly impacted by COVID-19 - USA: Dynamic sales growth (+41%) through expansion of customer base and contracts concluded with US-wide purchasing associations and networks - Earnings: EBITDA improved to EUR -4.8 million (FY/2019: EUR -5.1 million) despite significant one-time effects from restructuring, refinancing and revision of QM system, particularly due to cost reduction; Recurring EBITDA improved significantly by +28% to EUR -3.4 million (FY/2019: EUR -4.8 million) - Gross margin and costs: Improvement of gross margin to 84% (FY/2019: 80%) due to increased share of high-margin US sales in total sales and discontinuation of standard trauma portfolio; massive cost reduction due to significant decrease in personnel expenses (EUR -1.7 million) and other operating expenses (EUR -1.6 million) - Cash flow and balance sheet: Improved EBITDA and positive working capital effects reduce operating financing requirement to EUR -3.7 million (FY/2019: EUR -5.8 million); balance sheet restructuring within equity with capital reduction and offsetting against accumulated deficit - Refinancing: First two steps successfully implemented in 2020 with capital reduction and convertible bond; sale of excess capacity in machinery reduces repayment burden in coming years; granting of shareholder loan shows confidence in the path taken; Management Board confident of implementing further measures in 2021, which, if successfully completed, will secure aap's financing - LOQTEQ(R): Fundamental revision of quality management with focus on conversion of processes and documentation to meet increased regulatory requirements; successful recertification under still valid MDD standard until 2024 - Silver coating technology: All regulatory requirements for start of human clinical study in Germany fulfilled; test coatings performed for potential first joint development projects to be completed; ongoing discussions with global medical device companies on potential co-funding of study and further collaboration opportunities - Resorbable magnesium implant technology: Confirmation by FDA of probable classification as particularly innovative "Novel" technology and qualification for faster "De Novo" approval pathway; results of pilot animal study with Colorado State University show controllable degradation process, planned bone healing and thus overall "proof of concept" of the technology; promising discussions underway with technology-savvy investors to finance joint further development of the technology
2020 - Key financial figures Sales
[1] Other sales, which were still reported in the previous year, are no longer shown and are now allocated to the individual regions.
In the USA, on the other hand, aap is on a dynamic growth course and was able to significantly increase sales in financial year 2020 (+41%) year-on-year. This sales increase is primarily based on a massive expansion of the customer base and the contracts concluded with US-wide purchasing associations and networks. Overall, the positive sales development in the USA mitigated the COVID-19-related sales declines in the other markets. EBITDA
- Increase in gross margin to 84% (FY/2019: 80%) due to improved product, customer and price mix with lower material expenses, positively impacted by increased share of high-margin US sales in total sales and discontinuation of standard trauma portfolio at the end of FY/2019 - Significant decrease in personnel expenses (EUR -1.7 million) primarily due to headcount reduction implemented in Q1/2020 (headcount -30% as of Dec. 31, 2020 vs. Dec. 31, 2019) - Significant reduction in other operating expenses (EUR -1.6 million) primarily in direct response to the COVID-19 pandemic in advertising and travel costs, but also in consulting and premises costs
In the first four months of financial year 2021, the focus was on securing aap's further financing. In this context, further measures were implemented to ensure the continuity of the Company and to finance the planned growth and further development of the key technologies. In this context, at the end of March 2021, aap signed a purchase agreement with a Berlin real estate company for the sale of a plot of land in Brandenburg and qualified for the first time to receive state Corona aid under the COVID-19 aid program "Überbrückungshilfe III". aap has already received funds of EUR 0.5 million from the aforementioned financing measures, and further funds of around EUR 0.4 million will flow to the Company in the short term if both financing measures are successfully completed. In addition, the Management Board is currently working on the implementation of further measures and is confident that it will be able to implement these successfully and thus secure aap's financing in line with current business planning. The Company also aims to continuously increase efficiency in the production process and thereby reduce manufacturing costs by a double-digit percentage. In addition, aap has continued to impose strict cost discipline throughout the Company. Assuming an easing of the COVID-19 situation between the second and third quarter, aap aims to return to the growth path in financial year 2021. The Management Board expects sales between EUR 12.0 million and EUR 15.0 million, which corresponds to a significant growth rate of +29 to +61%. In this context, all markets are expected to contribute to the planned sales growth, with the USA acting as the main growth driver. Regarding earnings, aap aims to achieve positive EBITDA in the operative trauma business for the first time in financial year 2021 if the development goes according to plan. Taking into account the full R&D project costs and before possible co-financing, the Management Board expects EBITDA of EUR -5.5 million to EUR -3.5 million for the current year. In the area of its innovative silver coating technology, technology and product development for the human clinical study has been completed and all regulatory requirements (BfArM and ethics committee approvals) for the start of the study in Germany have been met. Against the backdrop of the still rampant COVID-19 pandemic, which is leading to a massive decline in trauma patients as a result of the lockdown measures, aap plans to start the study in financial year 2021, initially in individual clinical centers and then successively expand it to all participating clinics in Germany. The intended market approval of the silver coating technology in the USA will generate even significantly more effort. Due to the scarcity of resources, the Company intends to push forward the approval pathway for the human clinical study in the USA with the FDA in financial year 2021 and prepare the necessary documents for submission to the agency in order to be able to launch the study in the USA at a later date. With the progress made to date in restructuring and refinancing, aap has laid a good and solid foundation for the new start. The Management Board is confident that, by joining forces, it will succeed in putting aap on track for sustainable success and transforming it into a financially sound and independent company. ------------------------------------------------------------------------------------------------------------------------------------------- For queries, please contact: aap Implantate AG; Fabian Franke; Head of Investor Relations; Lorenzweg 5; 12099 Berlin, Germany; Phone: +49 (0)30 75019 - 134; Fax: +49 (0)30 75019 - 290; Email: f.franke@aap.de 30.04.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1191383 |
End of News | DGAP News Service |
Q1/2021: Solid start to year with 9% sales growth despite still burdening COVID 19 pandemic; more than 500 surgeries in US mark new high; Q2 order book well filled
Q1/2021: Solid start to year with 9% sales growth despite still burdening COVID 19 pandemic; more than 500 surgeries in US mark new high; Q2 order book well filled
DGAP-News: aap Implantate AG / Key word(s): Quarter Results/Preliminary Results aap Implantate AG ("aap" or the "Company") has started the financial year 2021 with good sales growth. Although the first quarter was still strongly impacted by the still rampant COVID 19 pandemic, aap increased sales by 9% year-on-year to EUR 2.7 million (Q1/2020: EUR 2.5 million) according to preliminary figures. Taking into account constant exchange rates, the growth rate was even 12%. It should be noted that the COVID 19 pandemic last year was not reflected in the business development until mid-March, so that the realized sales growth is to be assessed all the higher against the backdrop of the continuing comprehensive lockdown measures, which were recently even tightened in some cases. Not least, at the end of March aap received customer orders from tenders with a total value of around EUR 0.5 million, which have now been postponed to the second quarter due to their late receipt. If the orders had been received on time, sales in the first quarter would have been visibly above EUR 3 million. Sales Q1/2021
In the USA, aap continues to record dynamic development: In the first three months, more than 500 surgeries were performed with aap products, more than ever before. Based on this, sales in the US distribution business increased by 24% to EUR 0.7 million. In the overall US market, sales development in the first quarter of 2021 stabilized at the level of the previous year, as the first quarter of 2020 was still impacted by a major order from a global partner, which thereafter only ordered consumables on a much smaller scale. Basically, the trend shown - continuous increase in weekly surgeries - supports the achievement of the ambitious growth targets for 2021 in the USA. This momentum is driven particularly by the contracts concluded with US-wide purchasing associations and networks (currently: ten contracts concluded) that give aap access to an extensive network of clinics and surgical operation centers. For the second quarter of 2021, aap expects sales growth as well and plans a sales level above the EUR 3 million mark (Q2/2020: EUR 1.9 million, H1/2020: EUR 4.4 million). This outlook is supported by an order book that is currently already filled with around EUR 0.6 million. However, this only applies under the condition that the COVID 19 pandemic continues to ease and no additional drastic lockdown measures are imposed. The figures contained in this press release are preliminary as of 31 March 2021, which may still change until final publication. aap plans to announce the final results for the first quarter of 2021 in a press release in May. ------------------------------------------------------------------------------------------------------------------------------------------- For queries, please contact: aap Implantate AG; Fabian Franke; Head of Investor Relations; Lorenzweg 5; 12099 Berlin, Germany; Phone: +49 (0)30 75019 - 134; Fax: +49 (0)30 75019 - 290; Email: f.franke@aap.de 26.04.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1188235 |
End of News | DGAP News Service |
Publication of annual financial statements 2020 on 30 April 2021
Publication of annual financial statements 2020 on 30 April 2021
DGAP-News: aap Implantate AG / Key word(s): Annual Report/Annual Results aap Implantate AG ("aap") announces that the publication of the annual and consolidated financial statements 2020 will take place on 30 April 2021. On this date, the annual financial report 2020 (HGB) and the consolidated annual financial report 2020 (IFRS) will be published. ------------------------------------------------------------------------------------------------------------------------------------------- aap Implantate AG; Fabian Franke; Manager Investor Relations; Lorenzweg 5; 12099 Berlin, Germany; Phone: +49/30/750 19 - 134; Fax: +49/30/750 19 - 290; Email: f.franke@aap.de 10.03.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1174563 |
End of News | DGAP News Service |
FY/2020: Sales of EUR 9.3 million in Corona year in upper half of guidance - dynamic sales growth in USA (+41%); significant sales growth and positive EBITDA in trauma business planned for FY/2021
FY/2020: Sales of EUR 9.3 million in Corona year in upper half of guidance - dynamic sales growth in USA (+41%); significant sales growth and positive EBITDA in trauma business planned for FY/2021
DGAP-News: aap Implantate AG / Key word(s): Preliminary Results/Forecast - Sales of EUR 9.3 million in a COVID-19-driven FY/2020 in upper half of guidance of EUR 8.0 to 10.0 million (FY/2019: EUR 11.7 million) - Q4/2020 sales at EUR 2.4 million (Q4/2019: EUR 3.1 million); all markets except USA again strongly impacted by comprehensive lockdown measures in context of COVID-19 pandemic - USA: Continued dynamic sales growth with +36% in Q4/2020 and +41% in FY/2020; in Q4/2020 target sales of - Outlook FY/2021: Assuming an easing of COVID-19 situation from Q2/2021 onwards significant sales growth (+29 to +61%) and positive EBITDA in trauma business planned - guidance with sales of EUR 12.0 to 15.0 million and EBITDA of EUR -5.5 to -3.5 million (EUR -2.8 to -0.8 million excl. R&D project costs for silver coating and resorbable magnesium implant technology) - Financing: Focus in Q1/2021 on securing financing; implementation of further measures to finance planned growth and further development of key technologies - Restructuring: Further double-digit percentage reduction in manufacturing costs planned through efficiency improvements in production process and continued strict cost discipline - Silver coating technology: Start of human clinical study in Germany planned for FY/2021 - third party co-financing of study aimed and further collaboration opportunities under evaluation - Resorbable magnesium implant technology: Securing financing for further development and start of GLP animal study in USA planned for FY/2021 - promising discussions with various investors underway
Sales development FY/2020 and Q4/2020 According to preliminary figures, aap Implantate AG ("aap") achieved sales of EUR 9.4 million (FY/2019: EUR 11.7 million) in a financial year 2020 marked by COVID-19, which is in the upper half of the guidance of EUR 8.0 million to EUR 10.0 million. In the fourth quarter of 2020, sales were EUR 2.4 million (Q4/2019: EUR 3.1 million) and, after the first recovery trends in the third quarter, were again strongly impacted by the comprehensive lockdown measures in the context of the COVID-19 pandemic, which were recently even tightened in some cases.
Sales FY/2020
Sales Q4/2020
A look at the sales development in the individual regions shows that in the fourth quarter of 2020, with the exception of the USA, all of aap's main markets continued to be affected by the impact of the COVID-19 pandemic. Accordingly, the Company recorded a year-on-year decline in sales both in Germany (-28%) and in international business (-39%) in the fourth quarter. The pandemic-related impairments were particularly noticeable with respect to aap's very important foreign business (excluding the USA; around 60% of total sales in financial year 2019 with the biggest customers from Spain, South Africa, Brazil and Mexico). Furthermore, tenders in which aap is participating and has sometimes already received commitments via its distributors have been postponed until the first quarter of 2021. The same applies to the sales development in the individual markets (with the exception of the USA) in the entire financial year 2020, which was primarily shaped by the lockdown measures in the first half of the year and the fourth quarter in the context of the COVID-19 pandemic. In the USA, on the other hand, aap remains on a dynamic growth course and was able to significantly increase sales again in the fourth quarter of 2020 year-on-year (+36%; taking into account constant exchange rates +49%). The Company has thus almost reached its target sales of USD 1 million/quarter for the first time with USD 0.9 million in the fourth quarter of 2020. As a result, aap recorded a significant year-on-year increase in sales of +41% (taking into account constant exchange rates +44%) despite the COVID-19 pandemic that was particularly rampant in the USA. This increase in sales is primarily based on a massive expansion of the customer base and the contracts concluded with US-wide purchasing associations and networks. Overall, the positive sales development in the USA was able to mitigate the COVID 19-related sales declines in the other markets. Outlook 2021 In addition to the significant effects of the COVID-19 pandemic, aap's financial year 2020 was largely characterised by extensive restructuring and refinancing. In this context, the Company was able to make tangible progress in the restructuring process, which, despite the enormous challenges posed by COVID-19, is reflected, among other things, in dynamic sales growth in the USA (+41% vs. FY/2019), an increased gross margin and a significantly reduced cost level. In addition, aap was able to successfully implement the first two steps of the refinancing with a capital reduction and the issuance of a convertible bond. In the first quarter of 2021, the focus will remain on securing the Company's further financing. Based on the visible progress in restructuring, aap intends to implement further measures to ensure the continuity of the Company and to finance the planned growth as well as the further development of the key technologies. The financing measures currently under consideration range from equity-based transactions via the capital market (e.g. capital increase) to out-licensing or targeted financing for the two platform technologies antibacterial silver coating and resorbable magnesium implants, as well as the sale of assets (e.g. land). With a view to restructuring, the Company intends to further increase efficiency in the production process and thus reduce manufacturing costs by a double-digit percentage. Furthermore, aap continues to impose strict cost discipline throughout the Company. Assuming that the COVID-19 situation eases from the second quarter onwards, aap aims to return to the growth path in the financial year 2021. The Management Board expects sales of EUR 12.0 to EUR 15.0 million, which corresponds to a significant growth rate of +29 to +61%. All markets are expected to contribute to the planned sales growth, with the USA acting as the main growth driver. The planned increase in sales in the USA is to be achieved not only by expanding business with existing customers through product portfolio extensions but also by newly acquired customers and, in particular, the concluded contracts with US-wide purchasing associations and networks. Against the backdrop of the still rampant COVID-19 pandemic and the latest comprehensive lockdown measures, some of which have even been tightened recently, the Company expects that the first quarter of 2021 will still be severely affected by COVID-19. As the population's vaccination coverage continues to progress, the Board expects business to recover in the second quarter, also against the backdrop of rising temperatures and increased outdoor human activity, before significant growth is anticipated from the third quarter onwards. With regard to earnings, the Management Board expects EBITDA for the financial year 2021 to be between EUR -5.5 and EUR -3.5 million. Excluding R&D project costs for the silver coating and the resorbable magnesium implant technology, the projected values for EBIDTA are between EUR -2.8 and -0.8 million. In the operative trauma business, the Company aims to achieve positive EBITDA in the current financial year for the first time since focusing on trauma in 2016. In the area of its innovative silver coating technology, aap carried out, among other things, test coatings for first joint development projects potentially to be completed with various medical technology companies in financial year 2020. Overall, technology and product development for the human clinical study has been completed and all regulatory requirements (BfArM and ethics commissions approvals) for the start of the trial in Germany have been fulfilled. Against the backdrop of the COVID-19 pandemic, aap plans to start the study in financial year 2021, initially in individual hospitals and then successively expand it to all participating hospitals in Germany. Furthermore, the active exchange with the FDA (= Food and Drug Administration) will be continued in order to ensure that all the necessary prerequisites for the prompt release of a clinical trial in the USA are met and that approval can subsequently be obtained. In principle, aap continues to strive for potential co-financing of the human clinical study by third parties and is also evaluating further cooperation possibilities. Against this background, a new subsidiary, MCTeQ GmbH (= Medical Coating Technologies), was founded at the end of the 2020 financial year, into which the silver coating technology is to be incorporated. This will make it possible to manage the technology in a more flexible and targeted manner and to implement the desired co-financing. With a view to its innovative resorbable magnesium implant technology, aap was able to make significant progress in financial year 2020. The results from the pilot animal study carried out with Colorado State University indicate that the degradation process of the implants can be controlled as desired and that the bone heals according to plan, thus providing a "proof of concept" for the technology. In addition, the FDA (= Food and Drug Administration) has confirmed that aap's technology is likely to be classified as a so-called particularly innovative "novel" technology and qualifies for a "de novo" approval way. In financial year 2021, aap wants to secure the financing of the further development of the resorbable magnesium implant technology and is currently in promising discussions with various investors in this context. After the financing has been secured, the next step is to start the planned GLP animal study in the USA. The sales figures contained in this press release are preliminary figures as of 31 December 2020, which are subject to change until final publication. aap plans to announce the final audited results for the financial year 2020 on 31 March 2021 as part of the consolidated annual financial report 2020. ------------------------------------------------------------------------------------------------------------------------------------------- 21.01.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1162394 |
End of News | DGAP News Service |
aap completes Management Board transition to support growth and value creation
aap completes Management Board transition to support growth and value creation
DGAP-News: aap Implantate AG / Key word(s): Personnel
- Re-appointment of Rubino Di Girolamo as CEO and Marek Hahn as CFO - Agnieszka Mierzejewska appointed member of the Management Board (COO)
The Supervisory Board of aap Implantate AG ("aap" or the "Company") is pleased to announce the composition of the new Management Board. In this context, Mr. Rubino Di Girolamo was re-appointed as CEO and Mr. Marek Hahn as CFO, while Ms. Agnieszka Mierzejewska was appointed to the Management Board as COO with effect from 1 January 2021. Ms. Mierzejewska will be the first female Management Board member in the history of aap. With the appointment of a COO the prime focus of the extended Management Board will be on the implementation of the strategy, the necessary re-design of corporate processes and the expansion of LOQTEQ(R) in all regions, especially in the US. The Supervisory Board regularly evaluates the composition of the Management Board to ensure it has the appropriate skills, experience, and perspective necessary to drive the growth and value creation of the Company. aap has tremendous value creating opportunities in front of it and the Supervisory Board is convinced that the three Management Board members will be significant assets and are committed to achieve outstanding performance during and post COVID-19 crisis. "We firmly believe that with the new Management Board we are excellently positioned to lead aap into a successful future," says Dr. med. Nathalie Krebs, Chairwoman of aap's Supervisory Board. "Ms. Mierzejewska has been one of the driving forces of the successful restructuring of aap's operations, which is a clear demonstration of the merits she has and will contribute to our company. She has also impressively demonstrated her sales competence, not least with regard to the US market. Together with the head of our US subsidiary, she has reorganised sales in the USA and thus made a significant contribution to being able to record dynamic sales growth this year despite COVID-19. The prolongation of Mr. Di Girolamo's and Mr. Hahn's contracts is a recognition of their contribution to aap's restructuring and repositioning from a strategic, financial and product development point of view. They contribute vast experience with all aspects of the company which is supportive to make decisions the first time right. We are convinced that the new Management Board brings the skills, experience, and perspective that aap needs. Based on the visible progress of the last months, it is now a matter of consistently continuing along the path we have chosen in order to put aap on a profitable growth path and create sustainable value for our shareholders." Given the present market conditions the Supervisory Board decided to provide the new Management Board with contracts with a period of one year on comparable conditions like the existing contracts. The Management Board is incentivised to further accelerate the process to deliver positive operational cashflow and to stabilize the financing of the Company. During the coming transition year Supervisory Board and Management Board will discuss new contracts to ensure the continuity in the Management Board. Rubino Di Girolamo (58) has served aap for many years in various Supervisory Board functions and has been the Company's CEO since May 2019. He is responsible for Corporate Development, Research & Development Future Technologies, Corporate Risk and Compliance Management. Marek Hahn (45) has been a member of the Management Board (CFO) at aap since April 2010. In his function as CFO he is responsible for Finance/Controlling, Human Resources, IT, Legal Affairs, Investor and Public Relations as well as Administration. Agnieszka Mierzejewska (38) began her career at aap in May 2014 as Director of Customer Service & Logistics. Over the past recent years, Ms. Mierzejewska has already been taken responsibility for various operational areas, last serving as Director Operations. As COO, Ms. Mierzejewska will be responsible for Sales & Marketing, Production, Research & Development Trauma, Quality Assurance and Regulatory Affairs. Ms. Mierzejewska holds a master's degree in Health Economics and Health Management. ------------------------------------------------------------------------------------------------------------------------------------------- aap Implantate AG; Fabian Franke; Manager Investor Relations; Lorenzweg 5; 12099 Berlin, Germany; Phone: +49/30/750 19 - 134; Fax: +49/30/750 19 - 290; Email: f.franke@aap.de 18.12.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1156368 |
End of News | DGAP News Service |
aap's successful restructuring paves way for follow-up steps in multilayered financing for growth and value creation
aap's successful restructuring paves way for follow-up steps in multilayered financing for growth and value creation
DGAP-News: aap Implantate AG / Key word(s): Financing aap Implantate AG ("aap" or "Company") announces that based on the tangible progress in restructuring and the successfully implemented first two steps of refinancing (capital reduction and issuance of a convertible bond) the Management Board is currently evaluating the realization of various further financing measures for the first quarter of 2021. This progress is reflected despite the tremendous challenges posed by COVID-19 in dynamic sales growth in the US (+43% vs. 9M/2019), an increased gross margin (+10% vs. FY/2019) and a significantly reduced cost level, among other things. As a result, aap was able to significantly improve recurring EBITDA in the first nine months of 2020 (+28% vs. 9M/2019) and at the same time to further reduce the delta to a positive operating cash flow (approx. EUR 1.3 million in Q3/2020). In addition, the balance sheet was sustainably restructured by the recently successfully implemented capital reduction, thus increasing flexibility regarding possible further financing activities. All in all, it can thus be stated that aap was able to absorb the negative effects of the COVID-19 pandemic through its extensive restructuring measures. The positive effects of the restructuring should become even more apparent in future when the Corona pandemic fades out over time. The financing measures currently under examination range from equity-based transactions via the capital market (e.g. capital increase) up to out-licensing or targeted financing for the two platform technologies antibacterial silver coating and resorbable magnesium implants. The innovative future technologies antibacterial silver coating and resorbable magnesium implants could be transferred to separate subsidiaries and managed under the aap holding company umbrella, always under the consideration of making these technologies available to non-competing markets while maintaining the unique competitive advantage for its own aap portfolio of products. Based on the visible results of the restructuring, aap now intends to implement the next steps in refinancing in order to finance the planned profitable growth and create the basis for sustainable value creation. ------------------------------------------------------------------------------------------------------------------------------------------- 08.12.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1153628 |
End of News | DGAP News Service |
Q3 and 9M/2020: aap restructuring shows clear successes in challenging COVID-19 times
Q3 and 9M/2020: aap restructuring shows clear successes in challenging COVID-19 times
DGAP-News: aap Implantate AG / Key word(s): 9 Month figures/Quarter Results In the third quarter of 2020 aap Implantate AG ("aap" or the "Company") achieved sales almost at the previous year's level at EUR 2.6 million (Q3/2019: EUR 2.7 million) and EUR 6.9 million in the first nine months (9M/2019: EUR 8.7 million). Thus aap was able to stabilize sales development in the third quarter despite the continuing adverse impact of the COVID-19 pandemic. In the U.S. aap continued to record a clearly positive business development and was able to grow dynamically both on a quarterly and nine-month basis. EBITDA in the third quarter of 2020 improved significantly to KEUR -48 (Q3/2019: EUR -1.7 million) mainly due to a noticeable reduction of the cost level, a special effect from foreign currency effects as well as an improvement of margins due to the dynamically growing US business. Overall, EBITDA after nine months amount to EUR -4.4 million (prior year: EUR -4.9 million) despite the noticeable effects of the COVID-19 pandemic and comprehensive restructuring expenses. Excluding one-time effects, recurring EBITDA improved significantly to EUR -0.4 million in the third quarter of 2020 (Q3/2019: EUR -1.7 million) and to EUR -3.3 million in the first nine months, which was clearly below the level of the previous year (9M/2019: EUR -4.6 million). Overall, it can be stated that aap was able to compensate for the negative effects of the COVID-19 pandemic by massively reducing costs and improving margins, which at the same time clearly reflects the progress made under the ongoing restructuring. Q3/2020 and 9M/2020 - Key results and progress - Sales by region: Recovery tendencies in Q3/2020 in Germany (Q3: -5%) and Europe (Q3: +27%) while international business continues to be affected by the effects of the COVID-19 pandemic and is significantly below previous year; sales development in 9M/2020 visibly influenced by COVID-19 and corresponding lockdown measures in H1/2020 - USA: Continued dynamic sales growth in Q3/2020 (Q3: +68%, 9M: +43%); number of weekly operations sustainably increased to a level of up to 50 procedures; contracts with US-wide purchasing associations and networks as basis for planned growth of +30% in FY/2020 - Earnings: EBITDA in Q3/2020 significantly improved and almost balanced at KEUR -48; 9M/2020 EBITDA of EUR -4.4 million (9M/2019: EUR -4.9 million) also improved despite substantial one-time effects from restructuring, refinancing and revision of the QM system; recurring EBITDA adjusted for one-time effects significantly improved in Q3 (+76%) and 9M (+28%) - progress of restructuring clearly visible despite massive Corona-related sales decline - Gross margin and costs: Gross margin[1] improved to 93% in Q3/2020 and 90% in 9M/2020 due to discontinuation of standard trauma portfolio and dynamically growing and high-margin U.S. business; substantial cost reduction due to significant decrease in personnel expenses (EUR -0.4 million in Q3 and EUR -0.9 million in 9M/2020) and declining other costs (-13% in Q3 and -20% in 9M/2020) - Cash flow and balance sheet: Cash holdings of EUR 1.7 million and equity ratio at 56% - Silver Coating Technology: All regulatory requirements for start of study in Germany fulfilled; test coatings for potential first joint development projects completed; ongoing discussions with global medical device companies about potential co-financing of study and other cooperation opportunities - Resorbable magnesium implant technology: FDA confirmation of probable classification as a particularly innovative "Novel" technology and qualification for faster "De Novo" approval way; results of pilot animal study with Colorado State University show controllable degradation process, good bone growth and thus overall proof of concept of technology; further very promising discussions with technology-oriented investors to finance joint further development of technology ongoing - Securing financing of Company: Ordinary capital reduction in the ratio of 10:1 implemented; convertible bond issued in a total volume of up to approximately EUR 2.6 million oversubscribed; partial sale of excess capacities of the machinery almost completed; further capital measures currently being evaluated
Sales Q3/2020
Sales 9M/2020
The sales development in the first nine months of 2020 was visibly influenced by the COVID-19 pandemic and the corresponding lockdown measures of the first half year, which is reflected in significantly lower sales compared to the previous year. In the U.S., by contrast, aap continues on a dynamic growth course and was able to increase sales significantly year-on-year in both the third quarter (+68%) and the nine-month period (+43%). This is even more remarkable given that the U.S. is the country with the highest number of COVID-19 infections worldwide. Here, the sales momentum of the first half of the year was maintained and the number of weekly surgeries was sustainably increased to a level of up to 50 procedures. In addition, focused efforts to conclude contracts with nationally active companies that give aap access to an U.S.-wide network of clinics and surgical operation centers continue to bear fruit. Overall, aap is aiming for a year-on-year sales increase of at least 30% in the U.S. in the financial year 2020 despite COVID-19. EBITDA Q3
EBITDA 9M
- Improved gross margin in Q3 and 9M/2020 at 93% and 90%, respectively, especially as a result of the discontinuation of the distribution of the standard trauma portfolio at the end of 2019 while reducing headcount and improving product-customer mix - Headcount reduced by more than 30% to date compared to December 31, 2019 (December 31, 2019: 149 employees); personnel expenses (excluding restructuring expenses) decreased by EUR 0.4 million in Q3/2020 and by EUR 0.9 million in 9M/2020 when compared to the respective prior year periods - Declining trend in other costs (excluding restructuring and refinancing costs as well as one-time expenses in connection with the revision of the QM system) by EUR 0.5 million in Q3/2020 and by EUR 1.8 million in 9M/2020 Based on the developments described above, EBITDA for the third quarter of 2020 was KEUR -48 (Q3/2019: EUR -1.7 million) and in the first nine months at EUR -4.4 million (9M/2019: EUR -4.9 million). Excluding one-time effects, recurring EBITDA improved significantly to EUR -0.4 million in the third quarter of 2020 (Q3/2019: EUR -1.7 million) and substantially to EUR -3.3 million in the first nine months (9M/2019: EUR -4.6 million). Overall, this reflects the targeted development: focus on established markets with higher profit margins and sustained streamlining of the cost structure to improve operating performance. With a view to further restructuring, aap has also virtually completed a partial sale of excess capacities in its machinery that should lead to a reduction in monthly leasing installments of around 30% compared with the end of 2019. In addition, the Company renegotiated the contract with its IT service provider, enabling it to cut fixed costs by around 37% compared with the end of the financial year 2019. Securing the financing and thus the continued existence of aap is a top priority for the Management Board. In this connection, aap's core shareholders already granted first shareholder loans of EUR 0.4 million in April. In addition, aap issued a convertible bond with a total volume of up to around EUR 2.6 million in August, which was successfully implemented and oversubscribed. As a further component of the refinancing process, the Management Board proposed to aap shareholders at the Annual General Meeting on August 7, 2020, an ordinary capital reduction in the ratio of 10:1, which was approved by a large majority. The capital reduction was entered in the commercial register on October 5, 2020. Together with the complete placement of the convertible bond, two key elements of the financial restructuring and refinancing were thus successfully implemented. Outlook Based on the business development in the first nine months, the Management Board continues to expect sales for the full year 2020 to be in the upper half of the guidance of EUR 8 million to EUR 10 million. Due to the strong improvement in earnings in the third quarter of 2020, the Company has raised its EBITDA forecast. For the financial year 2020 aap now expects EBITDA of EUR -5.9 million to EUR -4.5 million (previously EUR -6.7 million to EUR -5.5 million). It should be noted, however, that the available forecast data is characterized by a high degree of uncertainty. At this point in time, the further course of the worldwide COVID-19 pandemic is very difficult to assess. The adjusted forecast assumes that there will be no comprehensive lockdown measures due to the COVID-19 pandemic in the remaining fiscal year 2020. Last but not least, the Management Board aims to transfer the platform technologies antibacterial silver coating and resorbable magnesium implants to separate subsidiaries by the end of the year and to manage them independently under the aap holding company umbrella. Based on the visible progress made in restructuring and the successfully implemented first two steps of refinancing, the Company's Management Board is currently evaluating further capital measures (e.g. capital increase or further convertible bonds) to secure the Company's financing in the long term. ------------------------------------------------------------------------------------------------------------------------------------------- Future-oriented statements For further information please contact: aap Implantate AG; Fabian Franke; Manager Investor Relations; Lorenzweg 5; 12099 Berlin, Germany; Phone: +49/30/750 19 - 134; Fax: +49/30/750 19 - 290; Email: f.franke@aap.de 30.10.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE000A3H2101 |
WKN: | A3H210 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1144347 |
End of News | DGAP News Service |
aap: General data for bank technical implementation of ordinary capital reduction
aap: General data for bank technical implementation of ordinary capital reduction
DGAP-News: aap Implantate AG / Key word(s): Corporate Action/Capital Reorganisation aap Implantate AG ("aap" or the "Company") announces the general data for the bank technical implementation of the ordinary capital reduction. Now that the capital reduction has been entered into the commercial register on October 5, 2020, it is planned to switch trading on the Frankfurt Stock Exchange on October 29, 2020. This will entail a change in the quotation of aap shares at a ratio of 10 to 1, which will reduce the number of shares traded to 3,206,737 and should increase the share price about tenfold. It is planned to book the new shares or numbers of shares in shareholders' securities accounts on November 2, 2020. Each 10 shares with a proportionate amount of the share capital of EUR 1.00 each (ISIN DE0005066609) will then be replaced by one converted share with a proportionate amount of the share capital of EUR 1.00 (ISIN DE000A3H2101). ------------------------------------------------------------------------------------------------------------------------------------------- aap Implantate AG; Fabian Franke; Manager Investor Relations; Lorenzweg 5; 12099 Berlin, Germany; Phone: +49/30/750 19 - 134; Fax: +49/30/750 19 - 290; Email: f.franke@aap.de 21.10.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE0005066609 |
WKN: | 506660 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1142295 |
End of News | DGAP News Service |
Q3/2020: Capital reduction successfully implemented; sales in Q3/2020 almost stable despite continued negative impact of COVID-19; strong growth in US business (+68%) and recovery tendencies in Europe
Q3/2020: Capital reduction successfully implemented; sales in Q3/2020 almost stable despite continued negative impact of COVID-19; strong growth in US business (+68%) and recovery tendencies in Europe
DGAP-News: aap Implantate AG / Key word(s): Quarter Results/Preliminary Results The COVID-19 pandemic continued to impair business operations at aap Implantate AG ("aap" or the "Company") in recent months, as reflected in the sales trend in the third quarter and the first nine months of 2020. Contrary to this trend, aap continued to record a clearly positive business development in the U.S. and showed dynamic growth on both a quarterly and nine-month basis. In addition, following the easing of COVID-19 measures in the third quarter, the German and European markets (excluding Germany) showed signs of recovery that were reflected in almost equal or even higher sales year-on-year. According to preliminary figures, sales in the third quarter of 2020 were thus almost at the level of the previous year at EUR 2.6 million (Q3/2019: EUR 2.7 million) and in the first nine months of the current financial year at EUR 6.9 million (9M/2019: EUR 8.7 million). Based on the sales development in Q3/2020 and the lower cost level as a result of the comprehensive restructuring and efficiency improvement program, the Management Board expects a significantly improved EBITDA and Recurring EBITDA for the third quarter of 2020. Sales Q3/2020
Sales 9M/2020
The sales development in the first nine months was visibly influenced by the COVID-19 pandemic and the corresponding lockdown measures of the first half year, which is reflected in significantly lower sales compared to the previous year. It should also be noted that even if normality returns, there will be no catch-up effects, as in the consumer goods industry, for example, but at most a return to pre-crisis levels. In the U.S., by contrast, aap continues on a dynamic growth course and was able to increase sales significantly year-on-year in both the third quarter (+68%) and the nine-month period (+43%). This is even more remarkable given that the U.S. is the country with the highest number of COVID-19 infections worldwide. Here, the sales momentum of the first half of the year was maintained and the number of weekly surgeries was sustainably stabilized at a level of up to 50 procedures. In addition, focused efforts to conclude contracts with nationally active companies that give aap access to a U.S. network of clinics and surgical operation centers continue to bear fruit. Overall, aap is aiming for a year-on-year sales increase of at least 30% in the U.S. in the financial year 2020 despite COVID-19. As part of the comprehensive restructuring and refinancing process, the Management Board proposed an ordinary capital reduction in the ratio of 10:1 to aap's shareholders at the Annual General Meeting on August 7, 2020, which was approved by a large majority. The capital reduction was entered into the commercial register on October 5, 2020. Together with the complete placement of the convertible bond, two key elements of the financial restructuring and refinancing were thus successfully implemented. At present, the technical execution of the capital reduction is being carried out from the German stock exchange, so that the adjustment of the share price to the effects of the capital reduction should be carried out soon. On this basis, the Management Board of the Company is currently evaluating further capital measures (e.g. capital increase or further convertible bonds) to secure the financing of the Company in the long term. The figures contained in this press release are preliminary figures as of September 30, 2020, which may still change before its final publication. aap plans to announce the final results for the third quarter and first nine months of 2020 in a press release in the first half of November. ------------------------------------------------------------------------------------------------------------------------------------------- Forward-looking statements aap Implantate AG; Fabian Franke; Manager Investor Relations; Lorenzweg 5; 12099 Berlin, Germany; Phone: +49/30/750 19 - 134; Fax: +49/30/750 19 - 290; f.franke@aap.de 09.10.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE0005066609 |
WKN: | 506660 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1139931 |
End of News | DGAP News Service |
aap's convertible bond oversubscribed
aap's convertible bond oversubscribed
DGAP-News: aap Implantate AG / Key word(s): Financing aap Implantate AG ("aap" or the "Company") has successfully placed the convertible bond 2020/2023 resolved on August 5, 2020 with a total nominal value of up to EUR 2,550,814.00. The convertible bond met with a high level of interest from both existing shareholders and institutional investors in the private placement and is oversubscribed. The Company will thus shortly receive the maximum possible gross issue proceeds of approximately EUR 2.6 million. "We are pleased about the great interest in our convertible bond and thank our existing and new investors for their trust," says Rubino Di Girolamo, CEO of aap. "We regard this result as a clear signal that our chosen path is meeting with broad approval and will continue to implement aap's restructuring and refinancing process consistently." The convertible bond is a first and essential part of the refinancing and restructuring process currently being implemented by aap and serves to secure the Company's short-term liquidity. With the cash inflow realized from the convertible bond, aap's financing is secured until the beginning of 2021. In parallel, the Management Board is currently working intensively on the implementation of various financing options previously communicated. Furthermore, the Management Board will consistently continue its analysis to identify further cost reduction and efficiency enhancement potentials. ------------------------------------------------------------------------------------------------------------------------------------------- aap Implantate AG; Fabian Franke; Manager Investor Relations; Lorenzweg 5; 12099 Berlin, Germany; Phone: +49/30/750 19 - 134; Fax: +49/30/750 19 - 290; f.franke@aap.de 27.08.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE0005066609 |
WKN: | 506660 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1124273 |
End of News | DGAP News Service |
Q2 and H1/2020: Tangible positive impact of restructuring on aap performance in challenging COVID-19 times
Q2 and H1/2020: Tangible positive impact of restructuring on aap performance in challenging COVID-19 times
DGAP-News: aap Implantate AG / Key word(s): Half Year Results The COVID-19 pandemic led to a significant impairment of business operations at aap Implantate AG ("aap" or "Company") in recent months, which is reflected in the development of sales and earnings in the second quarter and first half of 2020. aap achieved sales of EUR 1.9 million in the second quarter of 2020 (Q2/2019: EUR 2.5 million) and EUR 4.4 million in the first six months (H1/2019: EUR 6.0 million). EBITDA was significantly impacted by one-time effects from the ongoing restructuring and refinancing as well as the revision of the quality management system and amounted to EUR -2.1 million in the second quarter of 2020 (Q2/2019: EUR -2.1 million) and in the first half-year to EUR -4.3 million (H1/2019:EUR -3.1 million). Excluding one-time effects, recurring EBITDA improved to EUR -1.5 million in the second quarter of 2020 (Q2/2019: EUR -1.6 million) and was only slightly below the previous year's level in the first six months at EUR -2.9 million (H1/2019: EUR -2.8 million). Overall, it can thus be stated that aap was almost able to absorb the negative effects of the COVID-19 pandemic through massive cost reduction and margin improvement, which at the same time reflects the progress made under the ongoing restructuring. Q2/2020 and H1/2020 - Major results and progress - Sales by region: Besides Germany (Q2: -22 %, H1: -26 %), international business (Q2: -42 %, H1: -45 %) particularly affected by the effects of the COVID-19 pandemic; resumption of business relations with original distribution partner in China and sales in Q2 - USA: Continued dynamic sales growth (Q2: +16%, H1: +32%); number of weekly operations sustainably stabilized at a level of up to 40 procedures; contracts with 5 US-wide purchasing associations and health networks as basis for planned growth of +30% in FY/2020 - Earnings: EBITDA in Q2 and H1 burdened by substantial one-time effects from restructuring, refinancing and revision of the QM system (Q2: EUR 0.7 million, H1: EUR 1.4 million); recurring EBITDA adjusted for one-time effects improved in Q2 (+10%) and only slightly below previous year's level in H1 (-2%) - progress of restructuring clearly visible despite massive Corona-related sales decline - Gross margin and costs: Gross margin[1] improved to 88% in Q2 (Q2/2019: 83%) and 87% in H1 (H1/2019: 84%) thanks to discontinuation of standard trauma portfolio, reduction of headcount (to date approx. 30% vs. 31.12.2019) and improvement of product-customer mix; remarkable cost reduction through significant decrease in personnel expenses (-24% in Q2 and -12% in H1/2020)[2] and decreasing other costs (-45% in Q2 and -37% in H1/2020)[3] - Cash flow and balance sheet: Cash holdings of EUR 0.8 million and equity ratio of 62% - LOQTEQ(R): Focus on converting processes and documentation to meet increased regulatory requirements; new polyaxial LOQTEQ(R) VA foot system already successfully used several times in U.S. - Silver coating technology: Approval by ethics commissions for conducting a human clinical study - all regulatory requirements for start of study in Germany fulfilled; test coatings performed for potential first joint development projects to be completed; ongoing discussions with global medical technology companies about potential co-financing of the study and further cooperation options - Resorbable magnesium implant technology: FDA confirmation of probable classification as a particularly innovative "Novel" technology and qualification for faster "De Novo" approval process; further very promising results in pilot animal study with Colorado State University; ongoing discussions with technology-oriented investors to finance joint further development of technology - Securing Company's financing: First shareholder loans from core shareholders in the amount of
Sales Q2/2020
Sales H1/2020
In the United States, by contrast, aap remains on a good growth course and was able to increase sales substantially year-on-year both in the second quarter (+16%) and the first half (+32%). This is all the more remarkable since the U.S. is the country with the highest number of COVID-19 infections worldwide. Here, the momentum that began in the second half of 2019 continued and the number of procedures performed each week was sustainably stabilized at a level of up to 40 procedures. In addition, the newly concluded contracts with US-wide purchasing associations and health networks are beginning to bear fruit. At present aap already has contracts with five purchasing associations and health networks, which creates the basis for further growth. Overall, aap is aiming for a sales increase of at least 30% year-on-year in the U.S. in financial year 2020 despite COVID-19. Q2 EBITDA
* Includes primarily restructuring and refinancing expenses (including personnel measures) and Project Quality First.
H1 EBITDA
* Includes primarily restructuring and refinancing expenses (including personnel measures) and project Quality First.
- Improved gross margin (88% in Q2/2020 vs. 83% in Q2/2019 and 87% in H1/2020 vs. 84% in H1/2019), in particular as result of discontinuation of distribution of standard trauma portfolio at year end 2019 with simultaneous reduction in headcount and improved product-customer mix - Headcount reduced by approx. 30% to date compared to 31.12.2019 (31.12.2019: 149 employees); decline in personnel expenses (excluding restructuring expenses) in Q2/2020 and H1/2020 by EUR 0.5 million year-on-year - Declining trend in other costs (excluding restructuring and refinancing costs as well as one-time expenses in connection with the revision of the QM system) by EUR 1.0 million in Q2/2020 and by EUR 1.4 million in H1/2020
With a view to the further restructuring of the Company, aap has also initiated a partial sale of excess capacities of its machinery that, if successfully completed, should lead to a reduction in monthly lease payments of around 30% compared with year end 2019. In addition, the Company renegotiated the contract with its IT service provider and was able to reduce fixed costs by around 37% compared with the end of the financial year 2019. Last but not least, initial calculations show improvements in manufacturing costs of up to 10 % for selected fast-moving products. Securing financing and thus aap's continued existence has top priority for the Management Board. In this connection, aap's core shareholders already granted first shareholder loans of EUR 0.4 million in April. In addition, aap announced a few days ago the issue of a convertible bond with a total volume of up to around EUR 2.6 million. The convertible bond can be subscribed to at an issue price of EUR 1.75 until August 26. In this way aap offers its shareholders the opportunity to participate in the financing measure at an attractive discount on the assumed future stock market price of around EUR 3.50 after the capital reduction resolved by the Annual General Meeting and to be entered in the commercial register in the next step. Individual shareholders have already committed themselves in advance to the subscription of convertible bonds with a volume of EUR 1.25 million, which corresponds to approx. 50% of the total transaction volume. In addition, aap has begun with the partial sale of excess capacities of its machinery that may lead to an inflow of liquid funds of up to EUR 0.3 million in the fourth quarter of 2020. In addition, the Management Board is currently working intensively on various other financing and cost-saving options. In particular, these include a committed interest-free loan from Investitionsbank Berlin (IBB) from the "Rescue Aid Corona Emergency Aid Package I" program, which is subject to certain challenging conditions, and far advanced negotiations on concluding a development and supply contract with a world-leading U.S. medical technology company, which is linked to the availability of sufficient financial resources at least for the duration of the development project. At the same time, the Management Board is currently in talks about possible corporate transactions (e.g. mergers, share or asset deals and carve-outs).
Based on the business development in the first half of the year, the Management Board now expects sales for the full year 2020 to be in the upper half of the guidance of EUR 8 million to EUR 10 million. Mainly due to the extensive one-time expenses, the Management Board expects EBITDA to be at the lower end of the guidance of EUR -6.7 million to EUR -5.5 million. However, it should be noted that the forecast data on hand are characterised by a high degree of uncertainty. At this point in time, it is very difficult to assess the further course of the worldwide COVID-19 pandemic. For example, in the second half of 2020 there could be a second wave, feared by some virologists and experts, which in the worst case could lead to a renewed lockdown with corresponding negative consequences for the economy. Last but not least, the Management Board aims to reorganise aap also on a structural level and to align it on the three pillars of its innovative platform technologies in future. The three technologies LOQTEQ(R), antibacterial silver coating and resorbable magnesium implants shall be transferred to separate subsidiaries and managed independently under the aap holding company umbrella. This makes it possible to manage the individual technologies more flexibly and in a more targeted manner and to implement the aimed co-financing for the silver coating and magnesium implant technologies. aap Implantate AG; Fabian Franke; Manager Investor Relations; Lorenzweg 5; 12099 Berlin, Germany; Phone: +49/30/750 19 - 134; Fax: +49/30/750 19 - 290; f.franke@aap.de 14.08.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE0005066609 |
WKN: | 506660 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1118949 |
End of News | DGAP News Service |
Sales Q2/2020 and H1/2020: Continued dynamic development in the U.S. with double-digit growth rates; international and German business strongly impacted by COVID-19 pandemic
Sales Q2/2020 and H1/2020: Continued dynamic development in the U.S. with double-digit growth rates; international and German business strongly impacted by COVID-19 pandemic
DGAP-News: aap Implantate AG / Key word(s): Half Year Results/Preliminary Results In recent months the COVID-19 pandemic has led to a significant impairment of business operations at aap Implantate AG ("aap" or "Company"), which is reflected in sales development in the second quarter and also in the first half of 2020. Contrary to this trend aap continued to record positive business development in the U.S. and continued to grow substantially on both a quarterly and half-yearly basis. According to preliminary figures, sales in the second quarter of 2020 were EUR 1.9 million (Q2/2019: EUR 2.5 million) and in the first six months of the current financial year EUR 4.4 million (H1/2019: EUR 6.0 million). Overall, however, it can be stated that the COVID-19-related decline in sales is somewhat lower than for other companies in the industry[1]. Sales Q2/2020
Sales H1/2020
With regard to the development of sales in the individual regions, it is apparent that, in addition to Germany (Q2: -22%, H1: -26%), international business (Q2: -42%, H1: -45%) was particularly affected by the effects of the COVID-19 pandemic, with a correspondingly significant decline in sales compared to the previous year. Overall, restrictions in public life and sports tourism (lockdown measures) led and continue to lead to a perceptible reduction in relevant fractures in the field of trauma surgery (e.g. as a result of traffic and sports accidents), with the immediate consequence of a significant drop in demand for aap products. Furthermore, one of the Company's main sales channels in Germany and its international partners is based on personal contact between sales representatives and chief physicians and other decision-makers within clinics. Since general access restrictions have been in place in many hospitals since mid-March for persons from outside the clinics and/or decision-makers have no capacity for an exchange of information with sales representatives, business with existing customers has declined sharply and the generation of new orders has come to a complete standstill. In addition, the regular checking routines in connection with the consignment stocks kept in the clinics could not be carried out and therefore existing stocks (and thus the delivery requirements) could not be identified. In addition, the hospitals with which aap has contracts were often converted to treating COVID-19 patients only and accident surgery treatments were bundled in clinics that do not have a contractual relationship with the Company. Last but not least, scheduled orthopedic operations were postponed in order to reserve capacity for COVID-19 patients. In particular, foreign business, which is very important for aap (excluding the U.S.; around 60% of total sales in financial year 2019), has recently come to a virtual standstill. This hits the Company all the harder because the international partners with the highest sales are companies from Spain, South Africa, Brazil and Mexico. These countries are the most affected by the effects of the COVID-19 pandemic worldwide. By contrast, aap was able to generate sales again in China in the second quarter, where business relations with the original distribution partner were resumed. All in all, however, it remains to be said that even with a return to normality there will be no catch-up effects such as in the consumer goods industry, for example, but at most a return to pre-crisis levels. In the United States, by contrast, aap remains on a good growth course and was able to increase sales substantially year-on-year both in the second quarter (+16%) and in the first half (+32%). This is all the more remarkable since the U.S. is the country with the highest number of COVID-19 infections worldwide. Here, the momentum that began in the second half of 2019 continued and the number of operations performed each week was sustainably stabilized at a level of up to 40 procedures. In addition, focused efforts to conclude contracts with nationally active companies that give aap access to a U.S. network of hospitals and surgical operation centers are bearing first fruit. After the first two contracts were concluded in 2019 with nationally active General Purchase Organizations (GPOs) and Integrated Health Networks (IHNs), another contract was added in the first half of 2020. At the time this release was published aap had already concluded contracts with five purchasing associations and health networks and is currently in further negotiations. This will create the basis for further dynamic growth in the USA. Overall, aap is aiming for a sales increase of at least 30% year-on-year in the U.S. in financial year 2020 despite COVID-19. Against the background of these developments, the Management Board now expects sales for the 2020 financial year to be in the upper half of the guidance of EUR 8 million to EUR 10 million. However, it should be noted that the present sales forecast is characterised by a high degree of uncertainty. At this point in time, it is very difficult to assess the further course of the worldwide COVID-19 pandemic. For example, in the second half of 2020 there could be a second wave, feared by some virologists and experts, which in the worst case could lead to a renewed lockdown with corresponding negative consequences for the economy. The figures contained in this press release are preliminary results as of June 30, 2020, which may still change before final publication. aap plans to announce its final results for the second quarter and first half of 2020 on August 14, 2020. ------------------------------------------------------------------------------------------------------------------------------------------- aap Implantate AG; Fabian Franke; Manager Investor Relations; Lorenzweg 5; 12099 Berlin, Germany; Phone: +49/30/750 19 - 134; Fax: +49/30/750 19 - 290; f.franke@aap.de 03.08.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE0005066609 |
WKN: | 506660 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1108161 |
End of News | DGAP News Service |
Annual financial statements 2019: 9% sales growth and strongly improved EBITDA; significant milestones and growing interest in pioneering key technologies antibacterial silver coating and resorbable magnesium implants
Annual financial statements 2019: 9% sales growth and strongly improved EBITDA; significant milestones and growing interest in pioneering key technologies antibacterial silver coating and resorbable magnesium implants
DGAP-News: aap Implantate AG / Key word(s): Annual Results In the financial year 2019 aap Implantate AG ("aap" or "Company") recorded sales growth of 9% to EUR 11.7 million (FY/2018: EUR 10.8 million) and thus achieved its best sales result ever as a pure trauma company. Furthermore, the Company achieved a strongly improved EBITDA in the amount of EUR -5.1 million (FY/2018: EUR -6.4 million). 2019 - Major Results and Progress - Sales by region: Double-digit growth rates in USA (+14%) and in international markets (+10%); continuation of stable growth trend in Germany (+2%) - USA: Continued dynamic development; almost doubling of number of weekly operations performed since end of September 2019 compared with previous year and conclusion of contracts with two national purchasing groups; far advanced negotiations on conclusion of development and supply contract with leading US medical technology company - Earnings: Strongly improved EBITDA (+20%) due to higher total operating performance, higher gross margin, increase in other operating income and reduced other operating expenses; EBITDA in FY/2019 influenced by substantial one-time effects; Recurring EBITDA also significantly improved with EUR -3.7 million (FY/2018: EUR -5.0 million) - Costs: Continued consistent implementation of cost reduction and efficiency improvement program with change of stock exchange listing and discontinuation of parts of standard trauma portfolio in FY/2019; in FY/2020 already extensive staff reduction (approx. 25% of personnel) with aim of annual cost savings of more than EUR 1.3 million from 2021; further cost reductions ongoing - Cash flow and balance sheet: Cash holdings of EUR 3.2 million[1] and continued high equity ratio - LOQTEQ(R): FDA approval for polyaxial LOQTEQ(R) VA foot and calcaneus systems; focus in FY/2019 on quality management and four audits performed; continued focus on conversion of documentation to regulatory requirements of MDR and sterile-packaged implants - Silver coating technology: With approval for clinical human study by BfArM in 2019 and release by ethics commissions in 2020, all regulatory requirements for start of study in Germany fulfilled; further funding of up to approximately EUR 2.7 million for conduction of human clinical study by BMBF; due to corona pandemic, no concrete start date for study can currently be determined - Resorbable magnesium implant technology: regulatory clearance path in USA largely coordinated with FDA; very promising initial results in pilot animal study with Colorado State University to obtain essential preclinical data; talks with technology-savvy investors intensified for joint further development of the technology
For a detailed evaluation of the Management Agenda 2019 aap refers to the consolidated annual financial report 2019, published today. 2019 - Financials Sales
In view of developments in individual markets, aap was able to continue the stable growth trend in the German market in 2019, increasing sales by 2% to EUR 2.8 million (FY/2018: EUR 2.8 million). Business in international markets also developed positively. Here, the company achieved growth of 10% to EUR 6.9 million (FY/2018: EUR 6.2 million), which is primarily due to the expansion of existing sales relationships. Following a stabilizing phase in the first nine months of 2019, dynamic development has been observed in the USA since the end of September. The number of weekly operations was almost doubled compared to the same period of the previous year, which is also reflected in a sales increase of around 56% in the fourth quarter of 2019. As a result, aap recorded sales growth of 14% to EUR 2.0 million in the financial year 2019 (FY/2018: EUR 1.8 million). In addition, in the fourth quarter of 2019 the Company concluded contracts with two national purchasing groups that give aap access to a US-wide network of hospitals and surgical operation centres. Talks with other purchasing groups are also currently under way. In addition, the Company is in far advanced negotiations on concluding a development and supply contract with a world-leading U.S. medical technology company. EBITDA
In the financial year 2019 aap recorded a strongly improved EBITDA of EUR -5.1 million (FY/2018: EUR -6.4 million). The EBITDA was significantly influenced by the following developments: - Higher total operating performance in particular due to sales growth with only very small increase in inventories and lower level of capitalized internal and development work - Gross margin increases from 78% to 80% due to improved product-, customer- and price-mix and higher share of high-margin US sales in total sales - Increase in other operating income, in particular due to BMBF grants for silver coating technology and cost reimbursements due to termination of legal disputes - Decrease in other operating expenses
Outlook for 2020 The corona pandemic leads to a significant impairment of business operations at aap, which is reflected in a corresponding decline in sales and earnings in the first two quarters of 2020. In addition, restructuring measures such as the staff reduction announced in March 2020 will lead to one-time expenses in the current financial year that will additionally burden earnings. In addition, the decision taken in the annual financial statements to no longer capitalize the costs of the two development projects antibacterial silver coating and resorbable magnesium implants will have a full impact on EBIDTA from the 2020 financial year. Against this backdrop, the Management Board expects a significantly lower level of sales and earnings for the financial year 2020. On the basis of the data currently available, sales are expected to be between EUR 8 million and EUR 10 million and EBITDA between EUR -6.7 million and EUR -5.5 million. It should be noted, however, that the available forecast data is characterized by a high degree of uncertainty. This is based in particular on the corona pandemic, the further course of which is very difficult to assess at the present time. For example, in the second half of 2020 a second wave, feared by some virologists and experts, could occur, which in the worst case could lead to a renewed lockdown with corresponding negative effects for the economy. Looking at the individual markets, it can be seen that in the first two quarters, in addition to Germany, international business in particular was affected by the effects of the corona pandemic, so that a corresponding significant year-on-year decline in sales was recorded in each case. On this basis aap intends to stabilize sales development in both markets by the end of the year if the pandemic is positive so that from 2021 sales can once again show a positive dynamic. In the USA, on the other hand, the Company continues on a strong growth course despite the corona pandemic and in the year to date has been able to increase sales significantly with a double digit growth rate over the previous year. After the first two contracts with national purchasing groups were concluded in 2019, further contracts are to follow in the current fiscal year, thus creating the basis for further growth. Overall, aap is striving despite COVID-19 for an increase in sales of at least 30 % in the USA in financial year 2020 compared to the previous year. On the cost side, aap will continue to consistently implement the cost reduction and efficiency improvement program already launched in financial year 2019. The aim is to streamline the Company's cost structure sustainably and thereby increase efficiency and flexibility. In this context, the number of employees has already been reduced in the current financial year by around 25% compared with the level at the end of February 2020 (monthly closing date before the measure was announced on March 16), which should lead to annual cost savings of more than EUR 1.3 million from 2021. aap plans further cost reductions in the area of administration, among other things, and is in negotiations with its IT service provider and landlord in this connection. The manufacturing costs shall be reduced by at least 20%. Overall, aap is currently undergoing a comprehensive restructuring and refinancing process to secure the Company's continued existence and future viability. Against this background the Management Board is currently working intensively on the implementation of various financing and cost-saving options. For further details we refer to the insider information published on June 29, 2020 in accordance with Article 17 of the MAR. -------------------------------------------------------------------------------------------------------------------------------------- aap Implantate AG; Fabian Franke; Manager Investor Relations; Lorenzweg 5; 12099 Berlin, Germany; Phone: ++49/30/750 19 - 134; Fax: ++49/30/750 19 - 290; f.franke@aap.de 30.06.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE0005066609 |
WKN: | 506660 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1083089 |
End of News | DGAP News Service |
aap Implantate AG: Postponement of publication of annual financial statements 2019 and annual general meeting 2020
aap Implantate AG: Postponement of publication of annual financial statements 2019 and annual general meeting 2020
DGAP-News: aap Implantate AG / Key word(s): Annual Results/AGM/EGM aap Implantate AG ("aap") announces that the publication of its annual and consolidated financial statements for 2019 scheduled for April 30, 2020 has been postponed. The background is the far-reaching effects of the corona pandemic on the Company's business operations. The annual financial statements for 2019 (HGB) and the consolidated financial statements for 2019 (IFRS) shall be published by June 30, 2020 at the latest. aap will announce the exact date separately. Against this backdrop, aap's annual general meeting 2020 originally planned for June 19, 2020 is also being postponed. The Company's general meeting is expected to be held as a so-called virtual general meeting at a later date in financial year 2020. aap will provide timely information on the new date as well as on the further modalities and framework conditions of the annual general meeting 2020. -------------------------------------------------------------------------------------------------------------------------------------- aap Implantate AG; Fabian Franke; Manager Investor Relations; Lorenzweg 5; 12099 Berlin, Germany; Phone: +49/30/750 19 - 134; Fax: +49/30/750 19 - 290; f.franke@aap.de 29.04.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE0005066609 |
WKN: | 506660 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1031875 |
End of News | DGAP News Service |
aap receives approval from ethics commissions for human clinical study for innovative antibacterial silver coating technology; all regulatory requirements for starting study in Germany fulfilled
aap receives approval from ethics commissions for human clinical study for innovative antibacterial silver coating technology; all regulatory requirements for starting study in Germany fulfilled
DGAP-News: aap Implantate AG / Key word(s): Study aap Implantate AG ("aap") announces that it has received yesterday approval from the ethics commissions to conduct a human clinical study for its innovative antibacterial silver coating technology. Now that the German Federal Institute for Drugs and Medical Devices ("BfArM") has already given its approval, all the regulatory requirements for starting the study in Germany have been fulfilled. aap is the first company worldwide to test an antibacterial silver coating on anatomical plates for fracture treatment in a study of this kind. In view of the significant effects of the corona pandemic on both aap and the participating clinics, coupled with the uncertainty as to the exact time of a return to normality, no statement can be made at present about a specific date for the start of the human clinical study in Germany. In the meantime, the Company will press ahead with all preparations for the study in the best possible way so that it will be able to act immediately once the situation eases. With a view to financing the human clinical study, aap can initially draw on further funding from the German Federal Ministry of Education and Research ("BMBF"). Here, the Company has been granted up to approximately EUR 2.7 million to cover expenses incurred by carrying out the study. In addition, aap is still in talks with interested global medical technology companies about potential co-financing and other cooperation options (e.g. joint product development or licensing deal) and will now intensify these further against the background of the approval from the ethics commissions. As a platform technology, aap's antibacterial silver coating technology has a broad spectrum of applications. In addition to trauma, it can be used in other areas of orthopaedics as well as in cardiology, dentistry or for medical instruments. With its innovative silver coating technology, aap addresses one of the biggest challenges in trauma that has not yet been adequately solved: the reduction of surgical site infections (SSI). Surgical site infections are a major burden on healthcare systems worldwide. According to the World Health Organization (WHO)[1], SSI result in costs to health care systems of up to USD 18.6 billion in the USA alone. In Europe, the economic costs caused by surgical site infections are up to EUR 19.1 billion. In view of this and of its broad spectrum of applications, aap's antibacterial silver coating technology offers enormous market potential. -------------------------------------------------------------------------------------------------------------------------------------- aap Implantate AG; Fabian Franke; Manager Investor Relations; Lorenzweg 5; 12099 Berlin, Germany; Tel.: +49/30/750 19 - 134; Fax.: +49/30/750 19 - 290; f.franke@aap.de 23.04.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE0005066609 |
WKN: | 506660 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 1028197 |
End of News | DGAP News Service |
aap Implantate AG: FY/19: Good fourth quarter with EUR 3.1 million revenue (+17%) results in 9% revenue growth in fiscal year 2019 - Milestones in key technologies silver coating and magnesium-based implants
aap Implantate AG: FY/19: Good fourth quarter with EUR 3.1 million revenue (+17%) results in 9% revenue growth in fiscal year 2019 - Milestones in key technologies silver coating and magnesium-based implants
DGAP-News: aap Implantate AG / Key word(s): Preliminary Results/Quarter Results - Sales in FY/2019 at EUR 11.7 million (+9 %) with double-digit growth rates in the USA (+14 %) and in international markets (+10 %); continuation of the stable growth trend in Germany - USA: Strong fourth quarter (+56 %) due to almost doubling the number of weekly surgeries compared with the same period of the previous year; conclusion of contracts with two national purchasing groups; well advanced talks on the conclusion of a development and supply contract with a worldwide leading US medical technology company - Silver coating technology: Approval for clinical human study received from BfArM; further funding of up to approximately EUR 2.7 million for human clinical study granted by BMBF; approval of ethics commissions still required for start of study in Germany, documents submitted, approval expected shortly - Magnesium-based implants: Promising initial results from pilot animal study with Colorado State University to obtain essential preclinical data; regulatory clearance path essentially agreed with FDA; discussions with technology-savvy investors for joint further development of the technology underway
Sales development FY/2019 and Q4/2019 In the financial year 2019 aap Implantate AG ("aap") achieved sales of EUR 11.7 million (FY/2018: EUR 10.8 million) according to preliminary figures and thus a value within the guidance of EUR 11.0 million to EUR 13.0 million as published in August 2019. In the fourth quarter of 2019, the company realized sales of EUR 3.1 million (Q4/2018: EUR 2.6 million).
Sales Q4/2019
aap closed the financial year 2019 with a good fourth quarter and achieved strong sales growth of 17% to EUR 3.1 million (Q4/2018: EUR 2.6 million). The US market and international business developed very positively, with growth rates of 56 % and 20 %, while business in the German domestic market showed a temporary slight decline (-7 %). For the full year 2019, the company was thus able to achieve revenue growth of 9 % to EUR 11.7 million (FY/2018: EUR 10.8 million). Thereby the stable growth trend in the German market was also continued in 2019. Business in the international markets also developed positively, with growth of 10 %, which was mainly due to the expansion of existing customer relationships. In the USA, following a stabilizing phase in the first nine months, a dynamic development has been observed since the end of September. Thus, the number of weekly surgeries almost doubled compared to the same period of the previous year. In the fourth quarter the company also concluded contracts with two national purchasing groups that will give aap access to a nationwide network of hospitals and surgical centers in the future. Talks are also currently being held with other nationwide active purchasing groups. In addition, the company is in well advanced discussions on the conclusion of a development and supply agreement with a worldwide leading US medical technology company. These developments should also be reflected in further corresponding sales momentum in the USA in the fiscal year 2020. Regarding its innovative antibacterial silver coating technology, aap achieved important milestones in the financial year 2019. In August the company received approval from the German Federal Institute for Drugs and Medical Devices ("BfArM") to conduct a human clinical study. aap is thus the first company worldwide to test an antibacterial silver coating on anatomical plates for fracture treatment in a study of this kind. In order to start the study in Germany, aap now needs the approval of the ethics commissions, which has been applied for and whose approval is expected shortly. At the same time, training of the doctors participating in the study has been started and preparations have been made to equip the corresponding clinics with silver coated implants. In addition, in November, the company received a further grant from the German Federal Ministry of Education and Research ("BMBF") of up to approximately EUR 2.7 million for the conduction of the human clinical trial. In a first step, aap had received a funding commitment for the conception and qualification of human clinical study of up to around EUR 0.7 million. The latter developments are being followed with great interest by various global orthopedics companies that have reaffirmed their interest in aap's innovative silver coating technology in talks currently underway. In the financial year 2019 aap also made substantial progress in the field of magnesium-based implants. For example, a pre-submission meeting was held with the US Food and Drug Administration (FDA) at the beginning of December, at which the regulatory clearance path was essentially agreed. In addition, a pilot animal study to obtain essential preclinical data that started at the end of September with the renowned Colorado State University, has shown first very promising results with regard to bone formation as well as low gas formation during the degradation process of the bone-like magnesium-based implants. At the same time, the company has intensified discussions with technology-savvy investors in order to provide the financial basis for the joint further development of the technology in a timely manner. aap will from 2020 bundle all further development activities under the umbrella of its existing subsidiary MAGIC Implants GmbH to make the further progress more transparent to the outside world. In the fourth quarter, the Management Board continued its analysis to identify cost reduction and efficiency improvement potential. In this context, measures such as the change of the stock exchange listing and the discontinuation of parts of the standard trauma portfolio were already implemented in the 2019 financial year. Particularly in view of the ever-increasing regulatory requirements (e.g. conversion to MDR while maintaining certificates and approvals under currently valid regulations or sterile-packaged products) and the resulting cost consequences, the Management Board is currently intensively evaluating the economic viability of certain business activities and, in connection with this, further measures to reduce the cost structure (e.g. reduction/discontinuation of marketing and sales activities in certain markets, make-or-buy considerations for instruments, reduction of personnel, etc.). In view of its innovative key technologies - antibacterial silver coating technology and magnesium-based implants - aap will further intensify talks and negotiations with interested global medical technology companies and technology-savvy investors. All these measures shall form the basis for sustainable and profitable growth. The company will provide information on the outlook for fiscal year 2020, the management agenda, decisions taken in connection with the cost-reduction program and details of the company's future financing in a separate announcement in the course of the next few weeks. The sales figures contained in this press release are provisional figures as of December 31, 2019 and may still be subject to change until final publication. aap plans to announce the final, audited results for the financial year 2019 on March 30, 2020 in its consolidated annual financial report for 2019.
______________________________________________________________ 28.01.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE0005066609 |
WKN: | 506660 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 962163 |
End of News | DGAP News Service |
aap Implantate AG to present at German Equity Forum 2019
aap Implantate AG to present at German Equity Forum 2019
DGAP-News: aap Implantate AG / Key word(s): Conference aap Implantate AG ("aap") announces that it will present at the German Equity Forum 2019 at the Sheraton Frankfurt Airport Hotel and Conference Center in Frankfurt am Main, Germany, on Tuesday, 26 November 2019. The presentation will be held by Rubino Di Girolamo, Chief Executive Officer, in room Oslo at 05:30 p.m. CET. Following the conference, the accompanying presentation materials will be available on aap's corporate website at https://www.aap.de/ in the section "Investor Relations", subsection "News & Publications" under "Presentations". ---------------------------------------------------------------------------------------------------------------------------- aap Implantate AG; Fabian Franke; Investor Relations; Lorenzweg 5; 12099 Berlin, Germany; Phone: +49/30/750 19 - 134; Fax: +49/30/750 19 - 290; f.franke@aap.de 21.11.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE0005066609 |
WKN: | 506660 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 918389 |
End of News | DGAP News Service |
aap receives further funding of up to EUR 2.7 million for its innovative antibacterial silver coating technology
aap receives further funding of up to EUR 2.7 million for its innovative antibacterial silver coating technology
DGAP-News: aap Implantate AG / Key word(s): Study/Financing aap Implantate AG ("aap") announces that its innovative antibacterial silver coating technology will be further funded by the German Federal Ministry of Education and Research ("BMBF"). aap can receive grants of up to around EUR 2.7 million for expenses incurred by carrying out the human clinical study for the intended market approval of its silver coating technology. In a first step, aap received a funding commitment of up to about EUR 0.7 million for the conception and qualification of the human clinical study. Following the recent approval of the human clinical study by the Federal Institute for Drugs and Medical Devices ("BfArM"), aap now still needs the approval of the ethics commissions in view of the start of the study in Germany. Furthermore, the doctors participating in the study have already been trained in recent months and the equipment of the corresponding clinics with silver-coated implants has been prepared. The benefit granted to the company (aap funding code 13GW0449A+B) is part of the BMBF's "Health Industry in the Health Research Framework Programme" field of action. According to the BMBF, funding will be provided for projects on the topic of "Transferring medical technology solutions into patient care - proving clinical evidence without delay". The funding programme aims to introduce small and medium-sized enterprises (SMEs) to changing legal and regulatory conditions and support them in the clinical validation of medical technology solutions. The aim is to promote the rapid transfer of innovations into healthcare and reduce the risk of late failure of investments in research and development. For further information, please refer to the corresponding guideline on the BMBF website: https://www.bmbf.de/foerderungen/ bekanntmachung-1376.html. The further BMBF funding underlines again the innovative character of aap's silver coating technology and its potential to significantly reduce the cost burden on healthcare systems. -------------------------------------------------------------------------------------------------------------------------------------- aap Implantate AG; Fabian Franke; Investor Relations; Lorenzweg 5; 12099 Berlin, Germany; Phone: +49/30/750 19 - 134; Fax: +49/30/750 19 - 290; f.franke@aap.de 19.11.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE0005066609 |
WKN: | 506660 |
Listed: | Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
EQS News ID: | 915667 |
End of News | DGAP News Service |
aap: Solid Q3/2019 with sales and EBITDA in line with expectations; sales growth and improved Recurring EBITDA in 9M/2019
aap: Solid Q3/2019 with sales and EBITDA in line with expectations; sales growth and improved Recurring EBITDA in 9M/2019
DGAP-News: aap Implantate AG / Key word(s): 9 Month figures aap Implantate AG ("aap") recorded sales and EBITDA in line with expectations in the third quarter of 2019. aap generated sales of EUR 2.7 million and thus a value at the same level as the corresponding period in the previous year (Q3/2018: EUR 2.7 million). EBITDA amounted to EUR -1.7 million (Q3/2018: EUR -1.5 million) and were burdened by one-time effects of EUR 0.3 million. On a nine-month basis, aap was able to maintain the growth trend of the current financial year and increased sales by +6% to EUR 8.7 million (9M/2018: EUR 8.2 million). EBITDA amounted to EUR -4.9 million (9M/2018: EUR -4.6 million) in the first nine months of 2019 and were subject to significant one-time effects of EUR 1.3 million. Adjusted for these one-time effects, aap recorded an improved recurring EBITDA of EUR -3.6 million in the first nine months of 2019 compared with the same period in the previous year (9M/2018: EUR -3.9 million). Q3/2019 and 9M/2019 - Major results and progress - Sales by region: In traditionally weaker Q3 solid sales growth in Germany and slight temporary decline in USA and international business; USA with positive development since end of September 2019 with almost doubling of weekly number of cases year-on-year and increasing interest from national group purchasing organizations with negotiations on first contracts; 9M: continuation of growth trend driven by Germany and international business, further stabilization in USA - Earnings: EBITDA in 9M subject to significant one-time effects (EUR 1.3 million), primarily from early termination of contract with former CEO, termination of legal disputes and correction of legacies from inventory of US stocks from previous years; in 9M recurring EBITDA, adjusted for one-time effects, improved to EUR -3.6 million (+7%); EBITDA in Q3 burdened by one-time effects (EUR 0.3 million) and temporary decline in gross margin - Gross margin: Increased cost of materials for pre-production of systems for human clinical study for silver coating technology and of sterile products as well as correction of legacies from inventory of US stocks from previous years with total volume of EUR 0.3 million lead to temporary decline in gross margin[1] in Q3/2019; gross margin from operating activities (adjusted for above effects) increases to 79% in 9M (9M/2018: 78%) - Costs: Declining cost level (normalized for one-time effects) for personnel and other expenses both in Q3 (+EUR 0.4 million) and in 9M (+EUR 0.3 million) - Cash flow and balance sheet: Cash need in 9M/2019 totalled EUR 5.8 million; cash holdings amounted to EUR 4.4 million[2]; first-time application of IFRS 16 - Leasing and concluded factoring agreement lead to shifts in balance sheet, income statement and cash flow - LOQTEQ(R): FDA approval for polyaxial LOQTEQ(R) VA foot and calcaneus systems - Launch in USA and further markets planned for beginning of 2020; continuous focus on adaption of processes and documents to new regulatory requirements of MDR and development of sterile packaging for implants - Silver coating technology: BfArM approval received for human clinical study; further funding of human clinical study applied for at BMBF, funding decision expected shortly; training of doctors participating in study and preparation of equipment of corresponding clinics with silver-coated implants; for start of study in Germany approval of ethics committees still required, documents submitted, approval expected - Resorbable magnesium implant technology: Talks with technology-savvy investors to jointly further develop technology; progress on approval pathway agreement with FDA; pilot animal study with University of Colorado started end of September 2019 to generate key preclinical data
Q3 Sales
9M Sales
Q3 EBITDA
*Includes cost of external staff and correction of legacies from inventory of US stocks from previous years. 9M EBITDA
* Includes cost of personnel measures, termination of legal disputes (net effect), external staff and correction of legacies from inventory of US stocks from previous years. In the traditionally weaker third quarter, aap recorded solid sales growth (+4%) in Germany, while a slight temporary decline was recorded in the USA (-3%) and in international business (-1%). In the USA, this was due to the termination of a sales relationship with an US distributor, while in international business a quarterly fluctuation was recorded in the BRICS states. In the USA, aap has seen a positive development since the end of September 2019. The number of weekly operations almost doubled compared to the same period of the previous year. In addition, aap is registering an increasing interest from national group purchasing organizations with negotiations on first contracts, which is reflected in the current negotiations on the first contracts. These developments should also be reflected in the corresponding sales momentum in the coming months. On a nine-month basis, the existing growth trend (+6%) was mainly driven by Germany (+5%) and international business (+7%), while the sales development in the USA (+1%) was further stabilized. Outlook The Management Board will further consistently continue its analysis to identify cost reduction and efficiency enhancement potentials. In this context, measures have already been implemented, such as the change of the stock exchange listing and the discontinuation of parts of the standard trauma portfolio. In addition, aap will in future focus even more on sales expansion with higher-margin customers and products, as well as on further driving forward the marketing of its innovative and promising technologies. With a view to its antibacterial silver coating technology, aap will further intensify talks and negotiations with interested global medical technology companies following the approval of the human clinical study by the Federal Institute for Drugs and Medical Devices ("BfArM"). For its innovative resorbable magnesium implant technology aap aims to push forward the further development of this promising technology jointly with partners under aap's management. In this context the Company is currently in talks with technology-savvy investors. All of these measures shall form the basis for sustainable and profitable growth. [1] Relating to sales revenues, changes in inventories of finished and unfinished products and cost of materials / purchased services. [2] In the consolidated balance sheet of 30/09/2019 EUR 3.7 million is stated as cash and cash equivalents, while cash with banks totalling EUR 0.7 million is shown under current and non-current other financial assets as it was pledged to secure financial liabilities respectively cash payments were made to secure bank guarantees granted to third parties. [3] In the previous year, sales with Puerto Rico were reported as part of North America (distributors); from Q3/2019 as part of RoW (= Rest of World).
aap Implantate AG; Fabian Franke; Investor Relations; Lorenzweg 5; 12099 Berlin, Germany; Phone: +49/30/750 19 - 134; Fax: +49/30/750 19 - 290; f.franke@aap.de 14.11.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
Language: | English |
Company: | aap Implantate AG |
Lorenzweg 5 | |
12099 Berlin | |
Germany | |
Phone: | +49 (0) 30 75 01 90 |
Fax: | +49 (0) 30 75 01 91 11 |
E-mail: | info@aap.de |
Internet: | www.aap.de |
ISIN: | DE0005066609 |
WKN: | 506660 |