aap Implantate AG
- WKN: 506660
- ISIN: DE0005066609
- Land: Deutschland
Nachricht vom 02.11.2018 | 18:32
aap Implantate AG adjusts outlook for financial year 2018
aap Implantate AG / Key word(s): Change in Forecast/Profit Warning
aap Implantate AG ("aap") announces that based on the figures available for the first nine months of 2018 and its plans for the fourth quarter of 2018 as well as due to one-time costs in connection with the step-up strategy implementation it is adjusting its sales and EBITDA forecast for financial year 2018.
According to preliminary figures, total sales in the third quarter of 2018 and in the nine-month period increased on the same periods in the previous year to EUR 2.7 million (Q3/2017: EUR 2.6 million) and EUR 8.2 million (9M/2017: EUR 8.0 million) respectively, while trauma sales grew by 7% to EUR 2.8 million and by 6% to EUR 8.2 million respectively. EBITDA in the third quarter of 2018 stood at EUR -1.5 million and for the first nine months at EUR -4.6 million. Both key figures, sales and EBITDA, were therefore in the third quarter of 2018 within the forecast published in August.
Despite the reported growth so far an adjustment of the forecast for the full year is necessary. The background is primarily the sales development in North America falling short of expectations. Regarding aap's activities in this region, the company could not sign further contracts with global partners in the current financial year and distribution business was temporarily burdened by the loss of certain distributors. This shortfall in sales could not be offset on a short-term basis elsewhere. In contrast, aap reports for the nine-month period of 2018 a positive development with double-digit growth rates both in Germany (+12% to EUR 2.1 million) and in its international business (+28% to EUR 4.5 million).
EBITDA adjustment is a consequence of the above-mentioned sales development and one-time costs for strategic measures. These non-recurring out of budget expenses for the step-up strategy implementation to develop aap into a sustainably growing pure player in trauma, will burden EBITDA in the fourth quarter and subsequent months.
Against the background of these developments aap is adjusting its outlook for the financial year 2018 and now anticipates sales between EUR 10.0 million and EUR 11.7 million (previous forecast: EUR 13 million to EUR 15 million) and EBITDA of EUR -6.9 million and EUR -5.9 million (previous forecast: EUR -5 million and EUR -3.4 million).
In response to the current development of the distribution business in North America the company has strengthened its sales team. In addition, aap has in recent months already signed 12 new contracts with distributors that should be reflected in corresponding sales dynamics in coming quarters. Furthermore, aap is currently in talks with global partners on some projects whereby the realization is likely expected to be shifted to financial year 2019.
The figures contained in this release for the third quarter of 2018 and the first nine months are preliminary and subject to change until final publication. aap plans to publish the final figures for the third quarter of 2018 and the first nine months on 14 November 2018 in a quarterly statement.
|Company:||aap Implantate AG|
|Phone:||+49 (0) 30 75 01 90|
|Fax:||+49 (0) 30 75 01 91 11|
|Listed:||Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange|
|End of Announcement||DGAP News Service|
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