aap Implantate AG

Earnings Release • Aug 10, 2016

News Details

Ad-hoc | 10 August 2016 09:42

aap Implantate AG: Deconsolidation profit from the sale of aap Biomaterials GmbH leads to an increase of 2016 EBITDA forecast for the group

aap Implantate AG / Key word(s): Change in Forecast/Final Results

10.08.2016 09:42

Disclosure of an inside information according to Article 17 MAR,
transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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• Adjustment of 2016 EBITDA forecast for continued operation due to
  technical IFRS reporting requirements -

aap Implantate AG ("aap") signed a notarized share purchase agreement on 22
March 2016 with Keensight Capital for the sale of 100% of the company
shares in its subsidiary aap Biomaterials GmbH. The transaction was closed
on 11 May 2016. On the basis of the audited interim financial statements of
aap Biomaterials GmbH as at 11 May 2016 and the subsequent audit review of
the resulting effects in aap's consolidated interim financial statements as
at 30 June 2016, there arises, besides the assets and liabilities disposed
of and recognized in the deconsolidation profit so far, an additional
earnings-increasing effect from the assumption and disposal of intra-group
liabilities of aap Biomaterials GmbH by the purchaser of EUR 3.7 million.
That leads to a deconsolidation profit of EUR 23.3 million in aap's
consolidated interim financial statements as at 30 June 2016 that is stated
in the discontinued operation.

Due to the sale of aap Biomaterials GmbH at the end of March 2016, the
company is stated as a so called discontinued operation according to IFRS
5. Contrary to previously published interim financial statements, a
clarification of the relevant reporting standard published at the end of
2015 requires transactions between affiliated group companies to be stated
differently. This change in presentation leads to the fact that economic
and legal services provided by the continued operation totalling EUR 0.4
million have to be presented consolidated. As a result these services are
not being stated as income of the continued operation and at the same time
are not being shown as expenses of the discontinued operation as well.
Overall, this change in treatment leads to a shift in EBITDA from the
continued to the discontinued operation.

Both effects mentioned before result in an EUR 4.1 million increase in
EBITDA of the discontinued operation as at 30 June 2016 to a total of
around EUR 24 million. As a result, aap adjusts its EBITDA forecast for the
financial year 2016 as follows:

• EBITDA of the continued operation of between EUR -5.9 million and EUR
  -4.3 million (previously between EUR -5.5 million and EUR -3.9 million)
  due to technical IFRS reporting requirements for the continued and the
  discontinued operation

• EBITDA of the group (continued and discontinued operation including
  deconsolidation profit from the sale of aap Biomaterials GmbH) of
  between EUR 18.1 million and EUR 19.7 million (previously between EUR
  14.1 million and EUR 15.7 million).

aap plans to publish the final results for the second quarter respectively
the first half of financial year 2016 on 12 August 2016.

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

10.08.2016 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de

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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 (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover,
Munich, Stuttgart, Tradegate Exchange

End of Announcement DGAP News-Service

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