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19-May-2021

aap Implantate AG: Significant year-on-year earnings improvement (+91%) in Q1/2021 with almost balanced EBITDA (EUR -0.2 million)

aap Implantate AG / Key word(s): Quarter Results
aap Implantate AG: Significant year-on-year earnings improvement (+91%) in Q1/2021 with almost balanced EBITDA (EUR -0.2 million)

19-May-2021 / 12:20 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

aap Implantate AG ("aap" or "Company") achieved EBITDA of EUR -0.2 million in Q1/2021, significantly above the level in the corresponding period of the previous year (Q1/2020: EUR -2.2 million). Excluding one-time effects, recurring EBITDA in the first quarter of 2021 also improved noticeably year-on-year to EUR -0.2 million (Q1/2020: EUR -1.4 million). The background to this development, in connection with the 9% sales growth to EUR 2.7 million realized in the reporting period, is a significant increase in the gross margin[1] and a strongly reduced cost level. In addition, EBITDA in the first three months of 2021 were positively impacted by an effect in other operating income, primarily due to the recognition in income of a first partial payment from the COVID-19 aid program "Überbrückungshilfe III". Overall, the significant improvement in EBITDA thus visibly reflects the progress realized in the ongoing restructuring.
 

Based on the development in the first quarter, the Management Board is confident that as the COVID-19 pandemic continues to subside in conjunction with the withdrawal of the lockdown measures and thus the opening of the markets, a further dynamization of sales will occur in the coming quarters and thus positive EBITDA can be achieved in the operating trauma business for the first time since the focus on trauma. Accordingly, aap expects sales growth for the second quarter of 2021 and plans a sales level above the EUR 3 million mark (Q2/2020: EUR 1.9 million, H1/2020: EUR 4.4 million). However, based on the current order situation, this only applies under the condition that the COVID-19 pandemic continues to ease, and no additional drastic lockdown measures are imposed.
 

For a more detailed presentation of the main developments in the first quarter of 2021, aap will publish a press release in the coming days.



[1] Gross margin = sales revenues +/- change in inventories of finished goods and work in progress less cost of materials / cost of purchased services.

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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
 

19-May-2021 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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: 1198379

 
End of Announcement DGAP News Service

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Last Updated: 19-May-2021