Strong Trauma/LOQTEQ® sales growth in the first nine months of 2013
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
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.
aap Implantate AG
aap is a global medical device company headquartered in Berlin, Germany that develops, manufactures and markets innovative biomaterials and implants that are used in orthopedic procedures. The Company's products, which include a full line of plating systems, cannulated screws and bone cement products, are primarily used in the orthopedic specialty areas of trauma and spine repair. The Company's products are sold through its direct sales force, distribution partners and license agreements with OEM partners. aap's stock is listed in the Prime Standard segment of the Frankfurt Stock Exchange. For more information, please visit www.aap.de, or download the Company's investor relations app from the Apple's App Store or Google Play.