aap Implantate AG, a medical technology company listed in the Prime Standard segment of the Frankfurt Stock Exchange, achieved in the first quarter of the fiscal year 2010 – according to preliminary figures – sales at product level of EUR 5.7 million. Disregarding project sales, sales in the Analytics division that was sold in December 2009, and other one-time factors totaling EUR 2.4 million, comparable product sales in the first quarter of 2009 were EUR 5.9 million. That leaves Q1 2010 sales EUR 0.2 million, or 3 percent, down on Q1 2009.
For the first half of 2010 the Management Board anticipates double-digit sales growth at product level, compared with adjusted H1 2009 sales revenue amounting to EUR 11.5 million. This sales forecast is based in part on launches of new products such as Allografts as well as increasing sales of existing products such as Bone Cements and Adcon®. The Management Board is convinced thataap will achieve its 2010 sales growth target at product level of around 15 percent to a full year’s total of approximately EUR 30 million. aap is well on its way toward achieving the targets of its Management Agenda 2010.
As of April 1, 2010, aap has strengthened its first- and second-level management team as planned. The Management Board membership has been extended from two to three with the appointment of Marek Hahn as Chief Financial Officer. Dr. Daniel Zukowski as Corporate Director Research & Development is in charge of all R&D activities across the Group. In this role he will, inter alia, take over the responsibilities of Dr. Elvira Dingel dein, who headed the R&D-department of aapBiomaterials for many years. Dr. Dingeldein will continue to be at aap’s disposal in the future and support the Company with her comprehensive competence.
The objective of strengthening the management team is to speed up the implementation of aap´s strategic goals set for 2010 and to further secure its corporate growth.
Along with the strengthening of the management team, aap is making progress on simplifying its group structure, inter alia by merging two sites. In addition, aap is currently evaluating further corporate law actions.
Interest in aap’s R&D partner program continues to be strong, so we can therefore reaffirm our plan to conclude two semi-exclusive license agreements in 2010.
aap also anticipates a further improvement in its financial position in the course of the year as a result of negotiations already concluded and still under way. aaphas, for example, been able to reduce the financing costs for various financial liabilities and to accomplish a further reduction of fixed costs. aap believes that with this related improvement of the company’s rating, additional savings of financing costs for financial liabilities will be achieved shortly.
aap plans to publish its Q1/2010 results in full on May 12, 2010.
