APP IMPLANTATE : achieved Full Year 2009 Sales of EUR 33.0 Million (+3%)
01/14/2010 | 12:20pm CEST
aap Implantate AG / aap achieved Full Year 2009 Sales of EUR 33.0 Million (+3%) processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.
aap Implantate AG, a medical technology company listed in the Prime Standard
segment of the Frankfurt Stock Exchange, achieved according to preliminary
figures EUR 7.4 million in sales in the fourth quarter of the fiscal year 2009
(down 4 percent on the fourth quarter of 2008). Sales for the full year 2009
were increased by 3 percent on the previous year to EUR 33.0 million.
In the fiscal year 2009 aap also reached important milestones in its strategic
realignment to the Ortho, Trauma and Spine lines of business, optimizing its
cost and corporate structure. Employee numbers as at the end of the fiscal year
2009 were down by 23 percent on the year to 242 from 315. After the transfer of
dental sales to an exclusive distributor, closure of the Düsseldorf site, the
concentration of R&D activities on the three core lines of business, and the
sale of the Analytics division in December of last year, aap was able to boost
its agility and flexibility and to make its business model more transparent and
more attractive for investors. In the fiscal year 2009 aap also achieved the
strategic targets it had set itself for capital management: a debt coverage
ratio of 6.
The aap group of companies earns its total sales in two ways: for one by means
of product sales of biomaterials and implants sold under its own label and
manufactured for OEM partners and for another by means of project sales and
outlicensing. For 2010 the Management Board anticipates sales growth at the
product level of at least 15 percent, that is, on the basis of 2009 sales
revenue of around EUR 26 million (excluding Analytics) product sales of at least
EUR 30 million in 2010. In addition, aap is planning in the current fiscal year
to finalize two semi-exclusive license agreements for development projects with
partner companies. Including product and project sales, aap continues to expect
2009 an EBITDA in the upper reaches of its forecasted range of EUR 5 million to
EUR 7 million.
Corporate strategy at aap will continue in the fiscal year 2010 to concentrate
on customers, costs, and cash with a view to reducing working capital and
achieving profitable growth. Our aim is to take aap forward with own label
products to which we hold the intellectual property rights from a generics
manufacturer to a leading manufacturer of medical products. Our focus will be on
the growth carriers anatomic stable-angle plate system, anatomic knee
endoprosthetics, bone cement and collagen products. To step up the
implementation speed of at which strategic targets are reached and continue to
secure growth, aap plans in the first half of 2010 to strengthen the management
team in areas that include research and development and business development.
aap plans to publish the full annual report for 2009 on March 31, 2010.
aap is a medical technology company that develops, manufactures and markets
biomaterials and implants for trauma and orthopaedics. Its product portfolio
includes bone cements, bone graft substitutes, antibiotic carriers, and implants
for fracture healing and joint replacement. In addition to its Berlin HQ the
Company has sites in Dieburg and Obernburg near Frankfurt am Main and Nijmegen
in the Netherlands. aap Implantate AG stock has been listed in the Prime
Standard segment of the Frankfurt Stock Exchange since May 16, 2003.
For inquiries please contact:
aap Implantate AG, Nanette Huedepohl, Head of Corporate Communications,
Lorenzweg 5, 12099 Berlin, Germany, Tel.: +49 30 7501 9133, fax: +49
30 7501 9290, email@example.com
For more details please visit www.aap.de and www.aap-bioimplants.com
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aap Implantate AG
Lorenzweg 5 Berlin Germany
WKN: 506660;ISIN: DE0005066609;Index:CDAX,TECH All Share;Prime All Share;