Press release BoxID: 226337 (aap Implantate AG)
  • aap Implantate AG
  • Lorenzweg 5
  • 12099 Berlin
  • Contact person
  • Marc Heydrich
  • +49 (30) 75019-134

aap reduces growth expectation for fiscal 2008

(PresseBox) (Berlin, ) aap Implantate AG, a medical technology company listed on the Frankfurt stock exchange in the Prime Standard segment, will achieve a growth in sales, but not of the 20% planned.

The reduction of the sales targets is due to the Biomaterials division falling well behind its projected sales in the fourth quarter. The main reasons for this are the significant changes in environmental customers' order behavior (reduction of inventories) as well as delays in planned approvals of new products. Fourth-quarter growth expectations of the Biomaterials division will be below expectations, so aap does not anticipate a year-on-year improvement on the very strong fourth quarter of 2007 (Q4/2007: sales EUR 6.3 million).

The Trauma & Orthopaedics division has shown in the fiscal 2008 a significant overall above-average improvement in sales as well as the result and therefore could continue last year's growth trend with a significant double digit sales increase.

The reduced growth expectation for the entire company will have negative implications on the planned overall company result. That is why aap is preparing an extensive cost reduction program to offset the reduced growth expectations in 2008 and achieve a marked result improvement in 2009. In view of sales developments to date and of one-time effects due to cost reductions and possible value adjustments, the full-year overall result will probably not reach its previous years earnings before taxes on income of EUR 2.4 million.

The company plans to publish interim full year 2008 sales figures during January 2009.