aap Implantate AG

Earnings Release • Apr 16, 2009

News Details

Ad-hoc | 16 April 2009 21:12

aap expects in the annual consolidated financial statements 2008 one time, non-cash effect adjustments amounting to approx. EUR 6.5 million

aap Implantate AG / Strategic Company Decision/Restructure of Company

Release of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.

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Within the compilation of the annual consolidated financial statements to
the 31st of December 2008, write-offs totaling approx. EUR 6.5 million have
been stated. These one time and non-liquidity-related adjustments in the
annual consolidated financial statements according to IFRS result mainly
from the new strategic direction and the announced restructuring measures
of the aap group.

The focusing of aap on the Ortho/Trauma/Spine areas led to an extraordinary
write-off of capitalized services totaling approx. EUR 4.0 million. The new
strategic direction led among other things to a new prioritization of
research and development projects in the core business segments Ortho,
Trauma & Spine as well as the classification of some business lines (among
others medical aesthetics) as non-core business segments. Development
projects of those non-core business segments were terminated and
extraordinary depreciated.

In addition to that, legal uncertainties regarding ongoing negotiations led
to an extraordinary write off of intangible assets totaling approx. EUR 1.4
million.

Other adjustments to the amount of EUR 1.1 million result from the
execution of cost reduction and restructuring measures like the relocation
of the aap bio implants markets GmbH to Berlin and the subsequent closure
of the site in Düsseldorf as well as the annual impairment tests of
inventories within the compilation of the annual consolidated financial
statements.

Due to the above mentioned adjustments impacts on the amount of the
deferred taxes occur. The change of the deferred tax liabilities result
mainly of the adjustments within the purchase price allocation of
capitalized intangible assets as well as original capitalized services. In
the financial year 2008 aap capitalizes, in accordance with the IFRS,
deferred tax assets based on the anticipated use of the carryforward of
unused tax losses only to the extent that aap has sufficient deferred tax
liabilities. A deferred tax income amounting to approx. EUR 0.2 million
occurs out of the juxtaposition of the tax effects resulting from the above
mentioned measures.

All of the above mentioned figures are based on the unaudited annual
consolidated financial statements 2008 of the aap Implantate AG and
therefore might still change.

aap Implantate AG's audited annual consolidated financial statements for
2008 will be published on April 28, 2009.

Contact:
Bei Rückfragen wenden Sie sich bitte an:
aap Implantate AG; Nanette Hüdepohl; Head of Corporate Communications &
Legal Affairs; Lorenzweg 5; D-12099 Berlin
Tel.: ++49/30/750 19 - 133; Fax.: ++49/30/750 19 - 290; n.huedepohl@aap.de

16.04.2009 Financial News transmitted by DGAP

Language: English
Issuer: aap Implantate AG
Lorenzweg 5
12099 Berlin
Deutschland
Phone: +49 (0) 30 75 01 90
Fax: +49 (0) 30 75 01 91 11
E-mail: aap@aap.de
Internet: www.aap.de
ISIN: DE0005066609
WKN: 506660
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, Hannover, Düsseldorf, Hamburg, München, Stuttgart

End of News DGAP News-Service

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