aap closes Q1 2024 with sales growth of 5.6% and positive developments at all operating levels and makes a strong start to Q2 2024
EQS-News: aap Implantate AG / Key word(s): Quarter Results/Development of Sales
aap closes Q1 2024 with sales growth of 5.6% and positive developments at all operating levels and makes a strong start to Q2 2024
22.04.2024 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.· *Sales increase by 5.6% compared to the same quarter of the previous year*
· *Major order and parts of Q1 sales form strong basis for growth in Q2*
· *Human clinical trial of the innovative antibacterial implant technology is progressing positively and opens up the possibility of an earlier conclusion*
aap Implantate AG ("aap" or "Company") continued its good start into the new year. The regions LATAM and APAC contributed significantly to growth.
*Q1/2024 – Sales *
*Sales in TEUR* *Q1/2024* *Q1/2023* *Change*
EMEA (= Europe, Middle East, Africa) 1,456 1,533 -5.0 %
North America 731 897 -18.5 %
LATAM (= Latin America) 788 481 +63.8 %
APAC (= Asia-Pacific) 149 46 >+100 %
*Sales * *3,124* *2,957* *+5.6 %*
In the EMEA region, aap achieved double-digit growth, particularly in South Africa (+21% year-on-year), Spain/Portugal (+11% year-on-year) and Germany (+11% year-on-year). An order placed from the Middle East had to be postponed to Q2 2024 at the customer's request, meaning that the EMEA region cannot report any growth. As a result of the reorganization in North America, unprofitable sales were eliminated, resulting in a decline of ~18% compared to the previous year for the first quarter. The Management Board is confident that this decline will be made up for over the course of the year through the continued focused work of the newly established team and new customers.
In Latin America, investments in aap systems to equip new customers led to a larger order volume compared with the same quarter of the previous year, particularly in Brazil and Mexico. These investment orders contributed significantly to the strong growth in the region. aap is confident that the investments in aap systems made in Q1 2024 will sustainably strengthen the business in the region. In the APAC region, existing and new customers also invested in further aap systems.
The Company is making great progress in the ongoing human clinical trial with the antibacterial implant technology and has recruited almost 160 patients to date. Due to the continued very positive progress of the study, there is currently the possibility of significantly reducing the number of patients to be recruited and completing the recruitment phase as early as the middle of this year. This would enable an earlier completion of the follow-up phase and an earlier start to the approval and industrialization phase. This step will again require substantial funds, which the Company will raise together with renowned industry partners and private investors.
The German Federal Ministry of Education and Research ("BMBF") is funding the clinical trial. The grant awarded to the company (funding codes 13GW0313A+B, 13GW0449A+B) is part of the BMBF's "Healthcare industry in the healthcare research framework program" field of action (= funding body). According to the BMBF, projects on the topic of "Transferring medical technology solutions to patient care - proving clinical evidence without delay" are being funded. For further information, please refer to the relevant guideline on the BMBF website: https://www.bmbf.de/foerderungen/bekanntmachung-1376.html.
The Company also made significant progress towards MDR authorization. Several main product files were submitted to the notified body in the first few months. aap remains committed to its plan to finalize MDR approval by the end of 2024. In the financial/legal area, a partial authorization of shares was completed, a vote without a meeting to lift the lock-up period for investors was carried out with 100% success and a 10% capital increase excluding subscription rights was placed at a premium of 37.5%. Due to personnel bottlenecks in the finance department combined with a new auditing company, the annual financial statements could not be finalized as planned and publication had to be postponed.
The second quarter started with a good order basis due to a major order from an international organization and the postponement of orders placed in Q1 2024. The Management Board therefore remains confident about the Company's positive development in 2024.
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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 based in Berlin, Germany. The company develops, produces and markets products for traumatology. In addition to the innovative LOQTEQ® anatomical plate system, 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 internationally it primarily uses a broad network of distributors in around 25 countries. In the United States, the company relies on a sales strategy via distribution agents through its subsidiary aap Implants Inc. 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 that do not affect the overall picture.
*Forward-looking statements*
This release may contain forward-looking statements that are based on the current expectations, assumptions and forecasts of the Executive Board and information currently available to it. The forward-looking statements are not to be understood as guarantees of the future developments and results mentioned therein. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual results, financial situation, development or performance of the company and the estimates given here. These factors include those that aap has described in published reports. Forward-looking statements therefore speak only as of the date on which 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.
If you have any questions, please contact: aap Implantate AG; Rubino Di Girolamo, Chairman of the Management Board/ CEO, Lorenzweg 5; 12099 Berlin
Phone: +49 (0)30 75019 - 170; Fax: +49 (0)30 75019 - 290; Email: r.digirolamo@aap.de
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22.04.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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Language: English
Company: aap Implantate AG
Lorenzweg 5
12099 Berlin
Germany
Phone: +49 (0) 30 75 019-0
Fax: +49 (0) 30 75 019-111
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: 1885219
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