aap Implantate AG

Earnings Release • Mar 31, 2003

News Details

Ad-hoc | 31 March 2003 08:00

aap Implantate AG english

aap Implantate AG: Publication of consolidated financial statement for 2002 Ad-hoc-announcement transmitted by DGAP. The issuer is solely responsible for the content of this announcement. ——————————————————————————– aap Implantate AG: Publication of consolidated financial statement for 2002 Approx. 11% sales growth to EUR 13.3 million/Clear increase in EBITDA excluding stock options to EUR 1.6 million/ 2003 target: double-digit profitable sales growth At aap Implantate AG, a specialist in biomedical implants for the musculo- skeletal system, the sales and earnings trend in fiscal 2002 was positive. Sales revenues were up EUR 1.4 million to EUR 13.3 million (previous year: EUR 11.9 million), due mainly to expansion of business activity in the Asian market. Total operating performance was up clearly on the year to EUR 14.770 million (previous year: EUR 12.156 million). EBITDA including stock options was increased to EUR 1.03 million (previous year: -EUR 1.97 million). After taking into account acquisition-related depreciations totaling EUR 1.461 million and EUR 579,000 in stock options carried as expenses, EBIT improved markedly by EUR 2.834 million to -EUR 1.853 million (previous year: -EUR 4.687 million). EBITDA excluding stock options improved to EUR 1.6 million (previous year: -EUR 1.171 million). EBIT before acquisition-related depreciations and stock options was EUR 188,000, or EUR 2.635 million above the previous year’s -EUR 2.447 million. end of ad-hoc-announcement (c)DGAP 31.03.2003 Issuer’s information/explanatory remarks concerning this ad-hoc-announcement: The marked improvements in operating result were due to restructuring measures implemented across the group, to the integration of corporate acquisitions, and to the creation of a uniform sales network throughout the group. The cost- reduction program initiated at the end of 2001 also achieved ongoing successes. Personnel expenditure was reduced markedly, the materials usage quota was reduced, and other operating expenditure was reduced in relation to total operating performance. In the current business year aap’s primary concern is to market intensively in Germany and abroad all the product systems developed successfully over the past three years. The focus of our activities will be on expanding our business in bone cement, launching our new ÆQUOS knee endoprosthesis in the market and generating significant sales of our orthobiological products Cerabone and Ostim. In this process, our main sales region Germany will be of prime importance, but to ensure optimal use of these products’ future potential, acquiring additional sales partners in the European region will be an important strategic element. aap’s medium- and long-term growth strategy calls in general for significant investment. In respect of the financing required for its implementation, aap is currently engaged in talks with potential strategic partners on possible market and product cooperation and equity procurement measures. The target for the 2003 business year is to achieve double-digit profitable sales growth excluding acquisition-related depreciations. ——————————————————————————– WKN: 506660; ISIN: DE0005066609; Index: Listed: Neuer Markt in Frankfurt; Freiverkehr in Berlin-Bremen, Düsseldorf, Hamburg, Hannover, München und Stuttgart 310800 Mär 03