aap Implantate AG, a medical technology company listed in the Prime Segment of the Frankfurt Stock Exchange, reports for the first-half of 2011 a 10 percent sales increase at product level to EUR 14.1 million (previous year: EUR 12.8 million) and an EBITDA of EUR 2.1 million (previous year: EUR 1.4 million), a 54 percent increase on H1 2010.
The Group’s EBIT was EUR 0.7 million (previous year: EUR 0.03 million). On a balance sheet total of EUR 65.8 million (Dec. 31, 2010: EUR 63.6 million) the equity ratio rose to 73 percent due in part to a second-quarter capital increase. Cash EBIT (EBIT excluding internally produced and capitalized assets and depreciation of them) amounted to EUR -0.3 million (previous year: EUR -1.0 million).
Following the launch of the WSG product line in the German market the Trauma Center of Excellence in Berlin is preparing the launch in countries that recognize the CE mark. At the same time, the company is working on the FDA approval; applications will be submitted at the beginning of the fourth quarter to the responsible authorities. Furthermore, a distribution agreement has been signed with an internationally active orthopaedic enterprise, thereby ensuring deliveries of aap´s cannulated screws to the US market. In Dieburg, the Center of Excellence for Bone Cement and Cementing Techniques has reached an advanced stage in negotiations with a global enterprise on the development of a bone cement for use in joint replacement.
To further improve the Company’s financial position and ensure further profitable growth in 2011 a number of cost saving options are under consideration. They include reducing rental costs, comparing offers made by different service companies and harmonizing raw material suppliers across the Group.
aap Implantate AG’s full Q2 report is available for download at www.aap.de.