aap Implantate AG, a medical technology company specialized in medical biomaterials, fracture healing and joint replacement that is listed in the Frankfurt Stock Exchange’s Prime Standard, reports a 6% sales growth to EUR 25.6 million (previous year: EUR 24.2 million) in the first nine months of the fiscal year 2009. This growth was due primarily to the signing of an exclusive licensing agreement worth EUR 3 million for a medical aesthetics product that no longer forms a part of the Group’s core business and the sale of a patent for a dental bone graft substitute worth EUR 1 million. The Group’s operating result improved on the year from EUR 1.3 million to EUR 3.3 million.
In the first three quarters of 2009 the aap Group’s EBITDA totaled EUR 5.6 million (previous year: EUR 3.7 million). Group EBIT amounted to EUR 3.3 million (previous year: EUR 1.3 million) and EBT to EUR 2.6 million (previous year: EUR 0.6 million). On a balance sheet total assets of EUR 66.8 million (previous year: EUR 67.0 million) the equity ratio was 66%.
Third-quarter highlights were the signing of several important intellectual property agreements that take aap’s focus on the Ortho/Trauma/Spine area into account and will generate sustainable enterprise growth. In addition, concentration on customers, costs and cash enabled the company to further improve its profitability and optimize its capital structure.
aap expects EBITDA for the full year 2009 to be in the upper reaches of the EUR 5 million to EUR 7 million forecast. In respect of capital management the Management Board also reaffirms its plan for the full financial year 2009 to achieve a debt coverage ratio of < 3 and an interest coverage ratio of > 6.