aap Implantate AG

Earnings Release • Apr 22, 2016

News Details

Ad-hoc | 22 April 2016 17:35

aap Implantate AG: Annual financial statements 2015: Sales at EUR 28 million within the guidance and EBITDA KEUR 400 below the forecast

aap Implantate AG / Key word(s): Profit Warning/Final Results

22.04.2016 17:35

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• EBITDA 2015 burdened by one-time value adjustment on inventories (KEUR
  700) due to portfolio streamlining and potential cannibalization effects -

aap Implantate AG ("aap") recently signed a purchase agreement for the sale
of all shares in its subsidiary aap Biomaterials GmbH and is currently
working on the fulfillment of the conditions precedent in order to close
the transaction. Upon closing of the transaction, aap becomes a pure player
in trauma with a portfolio of IP-protected innovative technologies. Against
this background and after an extensive feedback from customers in the first
quarter of 2016 as well as due to the substantial expansion of the
LOQTEQ(R) portfolio in the 2015 financial year, a cannibalization of
standard trauma products by LOQTEQ(R) products may occur in future. In
course of the focusing on the trauma business aap intends to sell the
remaining 33% share in aap Joints GmbH (Recon products for knee, hip and
shoulder) in 2016 and to discontinue its supplier activities in this
non-core area. In order to adequately address the potential future sales
risk for standard trauma products, and to take into account the decision in
the context of aap Joints GmbH, the Management Board made in course of
preparing the consolidated and annual financial statements 2015 an
extraordinary and one-time value adjustment on inventories of standard
trauma and recon products in the amount of KEUR 700. This value adjustment
leads to a reduction in EBITDA in the 2015 financial year to the same
extent. As a result, the EBITDA in the 2015 financial year amounts to EUR
-1.9 million and is therefore KEUR 400 below the forecast made in November
2015 of EUR -1.5 million to EUR 1.0 million. The sales in the 2015
financial year amount to EUR 28.0 million and are therefore within the
guidance of EUR 27.5 million and EUR 31.5 million.

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

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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

End of Announcement DGAP News-Service

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