aap Implantate AG

Earnings Release • Nov 2, 2015

News Details

Ad-hoc | 2 November 2015 21:47

aap updates forecast for financial year 2015 due to delays in sales development in strategic trauma markets and in project deals in the biomaterials business

aap Implantate AG / Key word(s): Change in Forecast/Profit Warning

02.11.2015 21:47

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
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aap Implantate AG (XETRA: AAQ.DE) announces that it will not achieve the
sales and EBITDA targets it has forecasted for financial year 2015. The
reasons for this adjustment are mainly delays in trauma sales development
in a number of strategic growth markets (China, Russia and Turkey) due to
deteriorated economic framework conditions and in the US market entry due
to protracted administrative processes in hospitals as well as
uncertainties in respect of product approval in Brazil. Furthermore, as a
result of mergers and acquisitions in the global orthopaedic industry and
the related priorities set by decision makers, delays have occurred in
concluding pending project deals in the biomaterials business.

Against the background of these developments aap Implantate AG adjusts its
forecast for financial year 2015 and now anticipates sales between EUR 27.5
million and EUR 31.5 million and an EBITDA of EUR -1.5 million to EUR 1.0
million.

In respect of the outlook for the upcoming financial year and beyond, the
Management Board is nonetheless convinced that with the sales activities
already under way in the United States and Europe the growth story with a
5-year CAGR of 20% in the trauma business is intact. The growth drivers are
the LOQTEQ(R) product portfolio and the silver coating technology. In
addition, the company is intensifying the already existing measures to
improve profitability and efficiency.

From 2016 on, the US will become one of the core markets in the company's
growth strategy. In this strategic market aap Implantate AG has already
carried out first procedures with its LOQTEQ(R) products in various
hospitals and has generated first sales.

In the silver coating technology area the company has achieved substantial
progress in the course of the financial year. It includes to a large extent
the accomplishment of extensive animal studies, that are an important basis
for product approval. On the basis of the current state of development and
subject to the results of current consultations with the approval
authorities the company still plans to submit its CE approval application
this financial year. The approval process with the US Food and Drug
Administration (FDA) is expected to be launched subsequently.

The transformation of aap Implantate AG into a focused trauma company
remains a core objective of our strategic direction.

In January 2016 we will provide in a separate release an initial outlook
for the financial year 2016 and the first quarter of 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

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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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