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21-Feb-2023

Good start in 2023 after challenging fiscal year 2022

EQS-News: aap Implantate AG / Key word(s): Capital Increase/Development of Sales
Good start in 2023 after challenging fiscal year 2022
21.02.2023 / 13:16 CET/CEST
The issuer is solely responsible for the content of this announcement.

 

  • Sales: Good start in January 2023 in the U.S. with double-digit sales growth; international distributors confident of sales expansion in 2023
  • Silver: Restart of human clinical trial after approved clinical trial protocol amendment in April 2023; significant acceleration in patient recruitment expected
  • Successful start of capital increase with subscription commitments of 85 % from anchor shareholders and new investors
  • Outlook FY/ 2023: Revenue between EUR 12.0 and 14.0 million (+4 % to +22 % yoy) planned

 

aap Implantate AG ("aap" or the "Company") has made a good start to the new year after a challenging fiscal year 2022. All three sales units (Germany, International and USA) are making good progress in their markets, led by the USA, which closed January 2023 with a decent double-digit sales increase compared to the same month last year. In Europe, a test distribution is underway with a strategic partner in a promising market. In international business, the company is again recording increased activity in many markets and aap's distribution partners are again more optimistic about the financial year 2023 and thus potentially about a sales level above that of the previous year. Based on the work in the context of preparing the financial statements for the financial year 2022 and as already communicated in November 2022, the Management Board confirms a figure for sales and EBITDA at the lower end of the guidance for the past financial year 2022.

In the field of silver coating technology, aap had to adjust and simplify the clinical trial plan for the ongoing human study at the end of 2022, as the course of the study to date has shown that the originally envisaged number of patients with fractures exclusively of the distal tibia cannot be achieved within a reasonable period of time. In November 2022, the Company received all commitments and approvals from the BfArM and the Ethics Committee for the adapted study plan. aap expects that this will significantly accelerate patient recruitment. Production of the study materials for the adapted target fracture is already underway and the implants will be available for continuation of the study from April 2023. The Company expects to reach the required patient number within 12 to 18 months from the restart of the study. In the meantime, it has been possible to treat out-of-treatment patients with aap's silver-coated implants as part of individual healing trials. Overall, the healing process was very good, which is a positive indication for the ongoing clinical human trial.

The capital increase launched today to secure liquidity achieved firm subscription commitments in advance amounting to approx. 85 % of the size of the capital measure. In order to be able to immediately deliver shares admitted to stock exchange trading to all shareholders accepting the subscription offer as well as to certain investors in the course of the rump placement, existing major shareholders will provide the Company with a sufficient number of shares already admitted to stock exchange trading from their existing holdings by way of a securities loan. In addition, the future holders of non-admitted new shares have committed themselves to a lock-up from the date of signing of a lock-up commitment agreement until the end of a period of six months after admission of the part of the new shares to be admitted in November 2023. The Executive Board acknowledges these commitments as a sign of support for the corporate strategy pursued, both in terms of short-term key performance indicators and long-term value creation.





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aap Implantate AG (ISIN DE0005066609) - General Standard/Regulated Market - All German Stock Exchanges -

 

About aap Implantate AG
aap Implantate AG is a globally active medical technology company headquartered in Berlin, Germany. The company develops, manufactures and markets products for traumatology. In addition to the innovative anatomical plate system LOQTEQ®, the IP-protected portfolio includes a wide range of cannulated screws. In addition, aap Implantate AG has an innovation pipeline with promising development projects such as antibacterial silver coating technology and magnesium-based implants. These technologies address critical problems in traumatology that have not yet been adequately solved. In Germany, aap Implantate AG sells its products directly to hospitals, purchasing groups and group clinics, while at international level it primarily uses a broad network of distributors in around 25 countries. In the USA, the company relies on a hybrid sales strategy through its subsidiary aap Implants Inc. This involves sales both via distribution agents and within the framework of partnerships with global orthopedic companies. The aap Implantate AG share is listed in the General Standard of the Frankfurt Stock Exchange (XETRA: AAQ.DE). For further information, please visit our website at www.aap.de.

 

The figures presented in this press release may be subject to technical rounding differences which do not affect the overall presentation.

 

Forward-looking statements
This release may contain forward-looking statements based on current expectations, beliefs and projections of the Management Board and currently available information. The forward-looking statements are not guarantees of future performance or results. 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. These factors include those discussed in aap's public reports. Forward-looking statements therefore speak only as of the date they are made. We assume no obligation to update the forward-looking statements made in this release or to conform them to future events or developments.



Contact:
aap Implantate AG; Marek Hahn; Member of the Management Board/ CFO; Lorenzweg 5; 12099 Berlin
Tel.: +49 (0)30 75019 - 134; Fax: +49 (0)30 75019 - 290; Email: m.hahn@aap.de



21.02.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: aap Implantate AG
Lorenzweg 5
12099 Berlin
Germany
Phone: +49 (0) 30 75 01 90
Fax: +49 (0) 30 75 01 91 11
E-mail: info@aap.de
Internet: www.aap.de
ISIN: DE000A3H2101
WKN: A3H210
Listed: Regulated Market in Frankfurt (General Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1565007

 
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Last Updated: 21-Feb-2023