aap Implantate AG reports Q1 trauma sales growth of 46%, fueled by LOQTEQ® growth of more than 180%
On a like for like basis, the continued operations (aap Implantate AG without EMCM B.V.) show, without project sales, a sales growth to EUR 6.1 million, a 32% increase compared to the corresponding sales of EUR 4.6 million in the first quarter of 2013. The trauma sales for the same period increased by 46% to EUR 2.1 million; driven especially by LOQTEQ® sales growth of more than 180%. The sales growth without project sales of more than 30% in the first quarter for the Biomaterials business (Biomaterials, bone cements and cementing devices) sets a good trend for the financial year 2014.
Bruke Seyoum Alemu, COO, comments: "First quarter sales, especially those for trauma, represent a strong start of 2014. The growth of the LOQTEQ® portfolio is a confirmation of the positive market feedback of our LOQTEQ® technology."
The divestment of the contract manufacturing subsidiary EMCM underlines the initiated strategic orientation to become a focused Trauma company. aap reports it has received the 2nd instalment of EUR 6 million for the sales of its shares in EMCM; a total of EUR 12 million has been received so far. The last payment of EUR 6 million is scheduled to be paid before April 30th.
Next to the dynamic Trauma business, in combination with the issued silver coating patent in the USA in February and the development in the magnesium technology, the company shows progress in building a broad based platform that can address the fundamental challenges in trauma healthcare, enabling new standards for infection prevention and resorbable implants.
Publication of the interim report for the first quarter of 2014 is scheduled for May 15, 2014.
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.
This release may contain 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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