aap Implantate AG

Earnings Release • Nov 29, 2002

News Details

Ad-hoc | 29 November 2002 08:35

aap Implantate AG english

aap achieves double-digit sales growth and markedly higher earnings Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– aap achieves double-digit sales growth and markedly higher earnings Sales growth approx. 13%/EBITDA excl. stock options approx. 279% higher/Cash earnings increase by a clear 208%/aap reaffirms 2002 targets aap Implantate AG succeeded in the third quarter in maintaining the positive trend initiated at the beginning of fiscal 2002. Sales revenues in the first three quarters were up 12.7% on the year to approx. EUR 10.3 million from approx. EUR 9.1 million. EBITDA excluding stock options improved by approx. 279% to EUR 2.027 million (previous year: EUR 535,000). Excluding acquisition- related depreciations totaling EUR 1.04 million (previous year: EUR 1.135 million) and EUR 441,000 (previous year: EUR 623,000) in stock options that count as expenditure but do not affect the company’s cash position, EBIT amounted to approx. EUR 1.027 million and was approx. EUR 1.413 million up on the year (previous year: -EUR 385,000). Without these special effects, EBT increased by roughly 110% from -EUR 998,000 to EUR 100,000. Adjusted in this way, DVFA/SG consolidated earnings in the reporting period were -EUR 163,000 (previous year: -EUR 705,000), and DVFA/SG earnings per share were -EUR 0.03 (previous year: -EUR 0.15). Cash earnings adjusted on this basis totaled EUR 753,000 (previous year: EUR 245,000). Despite a strong year-on-year earnings increase, third-quarter results were down on the first half of 2002. Including the above-mentioned special effects (stock options and acquisition-related depreciations), figures are as follows: EBITDA increased to EUR 1.585 million (previous year: -EUR 88,000) and EBIT increased markedly by EUR 1.493 million to -EUR 454,000 (previous year: -EUR 1.947 million). EBT increased to -EUR 1.382 million (previous year: -EUR 2.755 million). DVFA/SG consolidated earnings improved in the reporting period to -EUR 1.134 million from the previous year’s -EUR 1.878 million, DVFA/SG earnings per share were -EUR 0.24 (previous year: -EUR 0.39), and DVFA/SG cash earnings were up nearly 300% to EUR 822,000 (previous year: EUR 205,000). end of ad-hoc-announcement (c)DGAP 29.11.2002 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: The marked improvement in earnings reconfirms the successful implementation of the restructuring program initiated a year ago. Cost structure in particular was further optimized. Against this background and including revenues anticipated in the fourth quarter from the sale of licenses or manufacturing rights from the R&D Services segment, the Management Board reaffirms its full year 2002 target of achieving profitable double-digit sales growth (excluding special effects). aap Implantate AG as a specialist in artificial and biological implants for the musculo-skeletal system sees considerable growth potential in the years ahead, especially in the joint and bone replacement segment. ——————————————————————————– WKN: 506660; ISIN: DE0005066609; Index: Listed: Neuer Markt Frankfurt; Freiverkehr in Berlin, Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 290835 Nov 02