Strong Trauma/LOQTEQ® sales growth in the first nine months of 2013

(PresseBox) ( Berlin, )
aap Implantate AG (XETRA: AAQ.DE) increased its total sales by 3 % to EUR 28.4 million (previous year: EUR 27.5 million) in the first nine months of 2013. EBITDA at EUR 5.3 million (previous year: EUR 4.8 million), was up by 11 % year on year.

In the first nine months and the third quarter, we achieved the following highlights:

- Trauma sales (incl. LOQTEQ®) in the third quarter increased 50% to €2.2 million (previous year: €1.5 million) and increased 63% to €6.5 million in the first nine months (previous year: €4.0 million)
- LOQTEQ® sales increased by €0.5 million to €1.1 million (+83%) in the third quarter of 2013 (previous year: €0.6 million) and by 182% to €3.1 million in the first nine months (previous year: €1.1 million)
- Turnover rate of Working capital (based on last four quarter sales) improved from 2.25 (30.9.2012) to 2.31 (+3%)
- Net debt (interest bearing) reduction from €4.3 million (31.12.2012) to €3.0 million
- Intangible assets percentage (as of the balance sheet total) reduction from 57% (31.12.2012) to 52%

Given the importance of the LOQTEQ® product family and our focus on the Trauma market, we would like to highlight the following activities:

- Signing a new distribution agreement for LOQTEQ® with an Saudi Arabian distributor, first supply will be shipped in the fourth quarter 2013
- Delivering the first supply of LOQTEQ® products to our distributor in Bulgaria
- Receiving CE-approval for four of the six new LOQTEQ® plating systems (phase 2), two of them already received FDA-approval.
- Continuing the LOQTEQ® post marketing study, with initial reports demonstrating very promising fracture repair qualities and ease of use, including no reported cases of cold welding

Outlook 2013

For the fourth quarter of 2013, the management board forecasts sales in the range of €10.5 million to €11.6 million and an EBITDA of €1.3 million to €1.7 million. Sales and profitability will be mainly driven by sales of trauma products, especially LOQTEQ®, and as previously announced, bone cement and cementing devices.

The Outlook for the fourth quarter 2013 supports the reconfirmation of the full year forecast of sales growth of 10% to approx. €40 million and an EBITDA growth of approx. 15% to €7 million.

The evaluation process of the strategic options for EMCM is ongoing.

aap Implantate AG's full Q3 2013 report is available to download at www.aap.de.
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