Closing of a development and supply agreement supports positive outlook for 2013

(PresseBox) ( Berlin, )
aap Implantate AG (XETRA: AAQ.DE) today closed an in the second quarter of 2012 signed development and supply agreement with a global medtech company. The effectiveness of the agreement was depended on the achievement of various conditions precedent, which came into effect today. The contract relates to the development of a biomaterial and its mixing and application device followed by the transfer of the know-how. When all of the milestones of the development agreement are reached, aap will receive payments totalling EUR 6.9 million (based on current exchange rates). The following milestone payments will be booked in the first quarter of 2013: a EUR 2.8 million upfront-payment is to be presented as "other operating income", two other milestone payments totalling EUR 1.5 million will be accounted for as "sales".

The supply agreement has a term of 24 months with an option for renewal. At least EUR 1.4 million in sales arising from the supply agreement is anticipated in 2013.

The conclusion of the development and supply agreement supports our positive outlook for 2013. For now, we reaffirm our forecast for 2013: Sales and EBITDA growth to be at least 10% and 15% respectively.

This release contains 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.
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