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DGAP-News: aap Implantate AG
/ Key word(s): Quarter Results/Preliminary Results
26.04.2021 / 14:35
The issuer is solely responsible for the content of this announcement.
aap Implantate AG ("aap" or the "Company") has started the financial year 2021 with good sales growth. Although the first quarter was still strongly impacted by the still rampant COVID 19 pandemic, aap increased sales by 9% year-on-year to EUR 2.7 million (Q1/2020: EUR 2.5 million) according to preliminary figures. Taking into account constant exchange rates, the growth rate was even 12%. It should be noted that the COVID 19 pandemic last year was not reflected in the business development until mid-March, so that the realized sales growth is to be assessed all the higher against the backdrop of the continuing comprehensive lockdown measures, which were recently even tightened in some cases. Not least, at the end of March aap received customer orders from tenders with a total value of around EUR 0.5 million, which have now been postponed to the second quarter due to their late receipt. If the orders had been received on time, sales in the first quarter would have been visibly above EUR 3 million.
Sales Q1/2021
| in KEUR |
Q1/2021 |
Q1/2020 |
Change |
Sales
Germany
USA
USA Distributors
USA Global Partners
International (without USA)
Europe (without Germany)
BRICS Countries
RoW (Rest of World) |
2,699
653
736
709
27
1,310
466
492
352 |
2,479
566
759
572
187
1,154
535
258
361 |
+9%
+15%
-3%
+24%
-86%
+14%
-13%
+91%
-2% |
| Sales |
2,699 |
2,479 |
+9% |
| in KEUR |
Q1/2021 |
Q1/2020 |
Change |
| Sales (constant exchange rates) |
2,699 |
2,418 |
+12% |
Looking at the individual regions, aap was able to report a recovery in business both in Germany (+15%) and international (excluding the USA; +14%) despite the still noticeable effects of the COVID 19 pandemic and achieved corresponding sales increases. However, the picture at international level is ambivalent: While performance in Europe continues to be impacted by the comprehensive lockdown measures and a vaccination campaign that is only progressing slowly, as reflected in a 13% decline, sales in the BRICS region almost doubled (+91%), mainly due to increased demand in Brazil. In the rest of the world (RoW), however, sales in the first quarter were virtually unchanged from the corresponding prior-year level.
In the USA, aap continues to record dynamic development: In the first three months, more than 500 surgeries were performed with aap products, more than ever before. Based on this, sales in the US distribution business increased by 24% to EUR 0.7 million. In the overall US market, sales development in the first quarter of 2021 stabilized at the level of the previous year, as the first quarter of 2020 was still impacted by a major order from a global partner, which thereafter only ordered consumables on a much smaller scale. Basically, the trend shown - continuous increase in weekly surgeries - supports the achievement of the ambitious growth targets for 2021 in the USA. This momentum is driven particularly by the contracts concluded with US-wide purchasing associations and networks (currently: ten contracts concluded) that give aap access to an extensive network of clinics and surgical operation centers.
For the second quarter of 2021, aap expects sales growth as well and plans a sales level above the EUR 3 million mark (Q2/2020: EUR 1.9 million, H1/2020: EUR 4.4 million). This outlook is supported by an order book that is currently already filled with around EUR 0.6 million. However, this only applies under the condition that the COVID 19 pandemic continues to ease and no additional drastic lockdown measures are imposed.
The figures contained in this press release are preliminary as of 31 March 2021, which may still change until final publication. aap plans to announce the final results for the first quarter of 2021 in a press release in May.
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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 queries, please contact:
aap Implantate AG; Fabian Franke; Head of Investor Relations; Lorenzweg 5; 12099 Berlin, Germany; Phone: +49 (0)30 75019 - 134; Fax: +49 (0)30 75019 - 290; Email: f.franke@aap.de
26.04.2021 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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