UK Markets open in 4 hrs 54 mins
  • NIKKEI 225

    26,666.91
    +22.20 (+0.08%)
     
  • HANG SENG

    26,806.13
    -88.55 (-0.33%)
     
  • CRUDE OIL

    45.04
    -0.49 (-1.08%)
     
  • GOLD FUTURES

    1,775.40
    -12.70 (-0.71%)
     
  • DOW

    29,910.37
    +37.87 (+0.13%)
     
  • BTC-GBP

    13,834.70
    +68.91 (+0.50%)
     
  • CMC Crypto 200

    363.97
    +26.47 (+7.84%)
     
  • Nasdaq

    12,205.85
    +111.45 (+0.92%)
     
  • ^FTAS

    3,593.68
    +4.64 (+0.13%)
     

aap Implantate AG: Significant year-on-year improvement in Q3/2020 earnings with almost balanced EBITDA - EBITDA forecast for the full year raised

·4-min read

aap Implantate AG / Key word(s): Change in Forecast/9 Month figures
aap Implantate AG: Significant year-on-year improvement in Q3/2020 earnings with almost balanced EBITDA - EBITDA forecast for the full year raised

26-Oct-2020 / 18:52 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.

Based on preliminary figures, aap Implantate AG ("aap" or "Company") achieved EBITDA in the third quarter of 2020 in the range of EUR -0.2 million to EUR -45K (previous year: EUR -1.7 million). The background to this development are, with sales almost stable, mainly a significant reduction in the cost level as a result of a comprehensive restructuring and efficiency enhancement program, a special effect from foreign currency effects in the context of intragroup transactions with the U.S. subsidiary aap Implants Inc. within inventories and a margin improvement due to the dynamic growth of the U.S. business.
 

Overall, EBITDA after nine months thus amount to between EUR -4.6 million and EUR -4.4 million (previous year: EUR -4.9 million) with sales revenues of EUR 6.9 million (previous year: EUR 8.7 million) despite noticeable effects of the COVID-19 pandemic and comprehensive restructuring expenses.
 

Due to the strong earnings development in the third quarter of 2020 aap is raising its EBITDA forecast. For the financial year 2020 aap now expects EBITDA of EUR -5.9 million to EUR -4.5 million (previously EUR -6.7 million to EUR -5.5 million). From today's perspective, the Company continues to expect sales revenues in the upper half of the guidance of EUR 8 million to EUR 10 million in fiscal year 2020. The adjusted forecast assumes that there will be no comprehensive lockdown measures due to the COVID-19 pandemic in the remaining fiscal year 2020. A more detailed press release on the key developments in the third quarter and first nine months of 2020 will be issued later this week.


 

-----------------------------------------------------------------------------------------------------------------------------------------

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

About aap Implantate AG
aap Implantate AG is a globally active medical technology company based in Berlin, Germany. The company develops, produces and markets products for traumatology. The IP-protected portfolio includes the innovative anatomical plate system LOQTEQ(R) and a wide range of cannulated screws. In addition, aap Implantate AG has an innovation pipeline with promising development projects such as antibacterial silver coating technology and magnesium-based implants. These technologies address critical and as yet unsolved problems in traumatology. aap Implantate AG sells its products in Germany directly to hospitals, purchasing groups and affiliated clinics, while at international level it primarily uses a broad network of distributors in some 25 countries. In the U.S. the company and its subsidiary aap Implants Inc. are pursuing a hybrid sales strategy. Sales are made both through distribution agents and in partnership with global orthopedic companies. aap Implantate AG stock is listed in the General Standard segment of the Frankfurt Stock Exchange (XETRA: AAQ.DE). For further information please visit our website at www.aap.de.
 

Future-oriented statements
This release may contain forward-looking statements based on the current expectations, presumptions and forecasts of the Management Board and information currently available to it. The forward-looking statements are not to be understood as guarantees of the future developments and results mentioned therein. 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. These factors include those described by aap in published reports. Forward-looking statements therefore only apply on the day on which they are made. We assume no obligation to update the forward-looking statements made in this release or to adapt them to future events or developments.
 

For further information 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
 

26-Oct-2020 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:

DE0005066609

WKN:

506660

Listed:

Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange

EQS News ID:

1143144


 

End of Announcement

DGAP News Service

show this
show this