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08-Dec-2020

aap's successful restructuring paves way for follow-up steps in multilayered financing for growth and value creation

DGAP-News: aap Implantate AG / Key word(s): Financing
08.12.2020 / 15:21
The issuer is solely responsible for the content of this announcement.

aap Implantate AG ("aap" or "Company") announces that based on the tangible progress in restructuring and the successfully implemented first two steps of refinancing (capital reduction and issuance of a convertible bond) the Management Board is currently evaluating the realization of various further financing measures for the first quarter of 2021. This progress is reflected despite the tremendous challenges posed by COVID-19 in dynamic sales growth in the US (+43% vs. 9M/2019), an increased gross margin (+10% vs. FY/2019) and a significantly reduced cost level, among other things. As a result, aap was able to significantly improve recurring EBITDA in the first nine months of 2020 (+28% vs. 9M/2019) and at the same time to further reduce the delta to a positive operating cash flow (approx. EUR 1.3 million in Q3/2020). In addition, the balance sheet was sustainably restructured by the recently successfully implemented capital reduction, thus increasing flexibility regarding possible further financing activities. All in all, it can thus be stated that aap was able to absorb the negative effects of the COVID-19 pandemic through its extensive restructuring measures. The positive effects of the restructuring should become even more apparent in future when the Corona pandemic fades out over time.
 

The financing measures currently under examination range from equity-based transactions via the capital market (e.g. capital increase) up to out-licensing or targeted financing for the two platform technologies antibacterial silver coating and resorbable magnesium implants. The innovative future technologies antibacterial silver coating and resorbable magnesium implants could be transferred to separate subsidiaries and managed under the aap holding company umbrella, always under the consideration of making these technologies available to non-competing markets while maintaining the unique competitive advantage for its own aap portfolio of products.
 

Based on the visible results of the restructuring, aap now intends to implement the next steps in refinancing in order to finance the planned profitable growth and create the basis for sustainable value creation.

 

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aap Implantate AG (ISIN DE0005066609) - General Standard/Regulated Market - All German stock markets -

About aap Implantate AG
aap Implantate AG is a globally active medical technology company based in Berlin, Germany. The Company develops, manufactures and markets products for trauma. The IP-protected portfolio includes besides the innovative anatomical plating system LOQTEQ(R) a wide range of cannulated screws. In addition, aap Implantate AG has an innovation pipeline with promising development projects such as the antibacterial silver coating technology and magnesium-based implants. These technologies address critical and unmet needs in trauma. In Germany, aap Implantate AG sells its products directly to hospitals, purchasing groups, and hospital groups, while at international level it primarily uses a broad network of distributors in around 25 countries. In the US the Company pursues a hybrid distribution strategy with its subsidiary aap Implants Inc. Distribution is carried out both through distribution agents and partnerships with global orthopedic companies. aap Implantate AG's stock is listed in the General Standard segment of Frankfurt Stock Exchange (XETRA: AAQ.DE). For more information, please visit our website at www.aap.de.

Forward-looking statement
This release may contain forward-looking statements based on current experience, estimates and projections of the management board and currently available information. They are not guarantees of future performance. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. Many factors could cause the actual results, performance or achievements of aap to be materially different from those that may be expressed or implied by such statements. These factors include those discussed in aap's public reports. Forward-looking statements therefore speak only as of the date they are made. aap does not assume any obligation to update the forward-looking statements contained in this release or to conform them to future events or developments.


For inquiries please contact: aap Implantate AG; Fabian Franke; Manager Investor Relations; Lorenzweg 5; 12099 Berlin, Germany; Phone: +49/30/750 19 - 134; Fax.: +49/30/750 19 - 290; Email: f.franke@aap.de
 


08.12.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Archive at www.dgap.de
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: DE000A3H2101
WKN: A3H210
Listed: Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1153628

 
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Last Updated: 08-Dec-2020