aap: Significant sales increases in Q2 (+74%) and H1 (+37%) underline growth targets for FY/2021; USA for first time with EUR 1 million sales quarter

DGAP-News: aap Implantate AG

/ Key word(s): Half Year Results/Preliminary Results

27.07.2021 / 10:17

The issuer is solely responsible for the content of this announcement.

aap Implantate AG (“aap” or the “Company”) recorded significant sales growth in both the second quarter and the first half of 2021. According to preliminary figures, aap increased sales in the second quarter of 2021 by a noticeable 74% year-on-year to EUR 3.3 million (Q2/2020: EUR 1.9 million). In the first six months of the current financial year, sales also increased significantly by 37% year-on-year to EUR 6.0 million (H1/2020: EUR 4.4 million). Taking into account constant exchange rates, the growth rates were even 79% (Q2) and 41% (H1). Overall, aap thus continues to be on a growth track after the good start in the first quarter and underlines its ambitious growth targets for the financial year 2021 (+29 to +61% vs. FY/2020) with the significant sales increases in the second quarter.

 

Sales Q2/2021

in KEUR Q2/2021 Q2/20201) Change
Sales
Germany
USA
USA Distributors
USA Global Partners

International (without USA)
Europe (without Germany)
BRICS Countries
RoW (Rest of World)
3,264
578
1,006
992
14
1,680
494
339
847
1,875
559
584
559
25

732
248
230
254
+74%
+3%
+72%
+77%
-44%
>+100%
+99%
+47%
>+100%
Sales 3,264 1,875 +74%
 

 

Sales H1/2021

in KEUR H1/2021 H1/20201) Change
Sales
Germany
USA
USA Distributors
USA Global Partners

International (without USA)
Europe (without Germany)
BRICS Countries
RoW (Rest of World)
5,971
1,231
1,750
1,709
41
2,990
960
831
1,199
4,354
1,125
1,343
1,131
212

1,886
783
488
615
+37%
+9%
+30%
+51%
-81%
+59%
+23%
+70%
+95%
Sales 5,971 4,354 +37%
 

 

Looking at the individual regions, against the backdrop of the relaxation of COVID-19 measures implemented in many places and progressing vaccination campaigns, aap was able to record a recovery in business in all major markets and realize in some cases very significant sales increases. International business developed particularly strongly (Q2: >+100%, H1: +59%). This positive development is based on the one hand on recovery trends in important markets such as Brazil, Mexico and South Africa compared with the COVID-19 impacted reference periods of the previous year, and on the other hand on the strong growth rates of Spain and Saudi Arabia, which were even able to overcompensate for their losses from financial year 2020. In Germany, too, the Company continues to recover following the lifting of numerous pandemic measures (Q2: +3%, H1: +9%), although growth here was lower than in the other core markets. This was primarily due to the relatively late end of the lockdown in Germany, where many restrictions were not lifted until the beginning of June this year. Even though Germany has not yet returned to the level of the pre-COVID-19 year 2019, an upward trend was already discernible in June following the easing of the COVID-19 measures, suggesting further growth.
 

In the USA, aap continued its dynamic growth course with significant sales increases (Q2: +72%, H1: +30%) and in the second quarter of 2021 for the first time achieved a sales level above the EUR 1 million mark. In doing so, the Company was able to significantly increase the number of surgeries performed to around 550 in the second quarter (+45% vs. Q2/2020), thus stabilizing at a good level after the positive first quarter (>500 surgeries). Based on this, sales in the US distribution business increased by a strong 77% (Q2) respectively 51% (H1). A decline was recorded in the business with global partners, as the first quarter of 2020 still included a large order from a global partner, which thereafter only ordered consumables in a much smaller volume. The second quarter of 2021 also includes a one-time effect from the termination of a contract with a former distributor, which was recognized in sales with around EUR 0.2 million.
 

The figures contained in this press release are preliminary values as of 30 June 2021, which are subject to change until final publication. aap plans to announce the final results for the second quarter and the first half of 2021 on 13 August 2021.

1) In FY/2020, approx. KEUR 10 that was actually attributable to Germany was reported in Europe. The reclassification has been made as part of the current financial reporting.

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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


27.07.2021 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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