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aap 2009: Without one-time effects sales growth of 13% in the first quarter
Both periods contain one-time effects. In the beginning of the previous year, within an initial order from a global partner, we registered revenues to the amount of EUR 1.0 million mainly for an initial stock of instruments. In March 2009 we were able to sell a product that does not belong anymore to the core business in the amount of EUR 0.5 million. Without the consideration of these not re-occurring revenues, aap realized a sales growth of 13%.
Within the cost reduction program, which was initialized at the end of the previous financial year, first measures such as staff reduction, closing of a site and prioritization of the research & development projects were carried out in the first quarter. These measures will show first effects on the company's performance during the second half of the financial year, a complete impact will occur in 2010.
Besides the capital increase of EUR 1,267,357 placed in March and the financing commitment of a shareholder of EUR 2 million, aap was able to achieve another contribution to securing the company's financing by significantly reducing the terms of payments with major customers.
As a result of the revision of the separating strategy by business segments, the development of the company under one roof and the change of the management structure, the sales figures of the financial year 2009 will not be published anymore with break downs into the business segments Biomaterials and Trauma & Ortho.
The publication of the full report for the first quarter of 2009 is scheduled for May 13, 2009.
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