Correction of chart "Change on Year" 2007: Sales EUR28.0 million, EBITDA EUR5.1 million, Net Profit for year EUR1.5 million Q1/2008: Sales c. EUR8.0 million
BERLIN, April 2, 2008 (PRIME NEWSWIRE) -- aap Implantate AG, a medical technology company listed on the Frankfurt stock exchange and active in biomaterials, fracture healing and joint replacement, achieved in financial year 2007 sales growth of 52% to EUR28.0 million (previous year: EUR18.5 million) and an operating result (EBIT) of EUR3.0 million (+36% on the previous year). Net profit for the year was slightly down by EUR0.1 million to EUR1.5 million (previous year: EUR1.6 million) due to one-off deferred tax expenses with no effect on liquidity. The aap group achieved this growth by means of organic growth in the T&O segment (Sales +26% to EUR7.8 million) and by first-time consolidation of Dutch Fame Medical Group acquisition as well as organic growth in the medical biomaterials segment (aap bio implants group, sales +65% to EUR20.2 million), which generated over 70% of overall aap sales in 2007.
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In EUR million 2007 2006 excl. aap Change on
NL year
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Sales 28.0 18.5 +52%
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EBITDA 5.1 3.9 +31%
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EBIT 3.0 2.2 +36%
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EBT 2.4 2.1 +14%
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Net profit for year 1.5 1.6 -6%
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Equity (ratio) 43.4 (64%) 21.2 (77%) +101%
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Total assets 68.0 27.6 +143%
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Employees 289 161 + 80%
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In financial year 2007 the aap group of companies earned a significantly higher EBITDA of EUR5.1 million (previous year: EUR3.9 million).
Group EBIT improved to EUR3.0 million (previous year: EUR2.2 million). EBT amounted to EUR2.4 million and was also up on the previous year's EUR2.1 million.
With total assets of EUR68.0 million (previous year: EUR27.6 million) the equity ratio was 64%.
According to preliminary calculations aap group sales in the first quarter of 2008 were in the region of EUR8.0 million, or around 35% than the EUR5.9 million in the same quarter of the previous year. This organic sales growth year on year was due to triple-digit percental sales growth by the Trauma & Orthopaedics division, due to the delivery of an initial order to a major OEM customer amongst others.
For the financial year 2008 aap anticipates a continuation of this growth trend and aims to achieve organic sales growth of at least 20% and above-average earnings growth.
The consolidated annual financial statements of aap Implantate AG are available to download at www.aap.de. Publication of the report for the first quarter of 2008 is scheduled for May 14, 2008.
aap is a medical technology company that develops, manufactures and markets biomaterials and implants for trauma and orthopaedics. Its product portfolio includes bone cements, bone graft substitutes, antibiotic carriers, and implants for fracture healing and joint replacement. In addition to its Berlin headquarters the company has locations in Dieburg and Obernburg near Frankfurt am Main as well as at Nijmegen in the Netherlands. aap Implantate AG has been listed in the Prime Standard segment at the Frankfurt stock exchange since May 16, 2003.
For further information about aap bio implants, visit www.aap-bioimplants.com