Q3/2022: Solid third quarter with slight sales growth in persistently volatile market environment; US business back on track with significant +45 % sales increase

EQS-News: aap Implantate AG

/ Key word(s): Preliminary Results/Development of Sales

Q3/2022: Solid third quarter with slight sales growth in persistently volatile market environment; US business back on track with significant +45 % sales increase
25.10.2022 / 07:45 CET/CEST

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

aap Implantate AG (“aap” or the “Company”) achieved slight sales growth in the third quarter in a persistently volatile market environment. According to preliminary figures, aap increased sales by +1 % to EUR 3.0 million (Q3/2021: EUR 3.0 million) in the third quarter of the current year compared to the same period of the previous year. In the first nine months of the current fiscal year, sales decreased by 4 % to EUR 8.5 million compared to 9M/2021 (9M/2021: EUR 8.9 million). Taking constant exchange rates into account, the changes in sales were ‑3 % (Q3) and ‑8 % (9M).

In general, with regard to the regions outside North America, the Company continues to face the existing and now worsening pandemic COVID-19 situation, related bottlenecks in hospitals and also the increasing but persistently too low mobility and the changed mobility behavior of the population, which is reflected in lower case numbers compared to pre-COVID-19 levels. In addition, the still ongoing war in Ukraine, the observable dynamic pressure on global supply chains and the general inflationary (cost) environment are generally affecting business development. In the North America region, on the other hand, the third quarter showed a significant recovery of the market compared to the first half of 2022 and a very dynamic development again overall: thus, starting from a significant growth of +45 % in the third quarter, the company was able to realize an increase in sales of +9 % in the nine-month period as well (constant exchange rates: +24 % in Q3 or almost at the previous year’s level in the nine-month comparison).

Sales Q3/2022 and 9M/2022

Sales in TEUR Q3/2022 Q3/2021 Change
EMEA (= Europe, Middle East, Africa)
North America
LATAM (= Latin America)
APAC (= Asia-Pacific)
1.317
1.012
537
122
1.418
696
687
167
‑7 %
+45 %
-22 %
-27 %
Sales 2.988 2.968 +1 %

 

Sales in TEUR 9M/2022 9M/2021 Change
EMEA (= Europe, Middle East, Africa)
North America
LATAM (= Latin America)
APAC (= Asia-Pacific)
4.257
2.667
1.348
269
4.560
2.446
1.471
462
‑7 %
+9 %
-8 %
‑42 %
Sales 8.541 8.939 4 %

With regard to the result, the Executive Board expects EBITDA between EUR ‑0.8 million and EUR ‑1.0 million (Q3/2021: EUR +20 thousand) for the third quarter and between EUR ‑1.5 million and EUR ‑1.7 million (9M/2021: EUR +0.1 million) for the first nine months of 2022, mainly reflecting the lower operating performance (sales decline and inventory reduction), investments in the expansion of the sales infrastructure, the execution of the clinical trial for the silver coating technology, and unplanned cost increases (e.g. procurement prices for energy and purchased services and inputs) due to the observable increasing pressure on global supply chains and the generally inflationary cost environment.

The figures contained in this press release are preliminary as of September 30, 2022, and are subject to change until final publication. aap plans to announce final results for the third quarter and first nine months of 2022 in a press release on November 14, 2022.

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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, manufactures and markets products for traumatology. In addition to the innovative anatomical plate system LOQTEQ®, the IP-protected portfolio includes 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 problems in traumatology that have not yet been adequately solved. In Germany, aap Implantate AG sells its products directly to hospitals, purchasing groups and group clinics, while at international level it primarily uses a broad network of distributors in around 25 countries. In the USA, the company relies on a hybrid sales strategy through its subsidiary aap Implants Inc. This involves sales both via distribution agents and as part of partnerships with global orthopedic companies. The aap Implantate AG share is listed in the General Standard of the Frankfurt Stock Exchange (XETRA: AAQ.DE). For further information, please visit our website at www. aap.de.

The figures presented in this press release may be subject to technical rounding differences which do not affect the overall presentation.

Forward-looking statements
This release may contain forward-looking statements based on current expectations, beliefs and projections of the Management Board and currently available information. The forward-looking statements are not guarantees of future performance or results. 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 discussed in aap’s public reports. Forward-looking statements therefore speak only as of the date they are made. We assume no obligation to update the forward-looking statements made in this release or to conform them to future events or developments.

Contact:
If you have any questions, please contact:
aap Implantate AG; Marek Hahn; Member of the Management Board/ CFO; Lorenzweg 5; 12099 Berlin
Tel. : +49 (0)30 75019 – 134; Fax: +49 (0)30 75019 – 290; Email: m.hahn@aap.de


25.10.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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