US and LATAM businesses continue with double-digit growth; Q2 sales increase of +8%; solid growth of +6% in H1/2023

• Sales Q2: EUR 2.9 million (+8 % yoy); LATAM (+13 % yoy), USA (+7 % yoy) and EMEA (+6 % yoy, resulting from growth in Germany).
• Revenue half-year 2023: EUR 5.9 million (+6 % yoy); LATAM (+29 % yoy) and USA (+11 % yoy) with significant double-digit growth; EMEA at -3 % yoy, recovery trend after Q1 due to upturn in Q2.

aap Implantate AG ("aap" or the "Company") recorded solid sales growth in both the second quarter and the first half of 2023. According to preliminary figures, aap increased sales in the second quarter of 2023 by +8 % year-on-year to EUR 2.9 million (Q2/2022: EUR 2.7 million). In the first six months of the current financial year, sales thus also increased by +6 % compared with the first half of 2022 to EUR 5.9 million (H1/2022: EUR 5.6 million). Overall, aap is still on a growth track after the solid start in the first quarter and underlines its growth targets for the financial year 2023 with the accelerated sales increase in the second quarter.

Sales Q2/2023

in TEUR Q2/2023 Q2/2022 Change Sales
EMEA (= Europe, Middle East, Africa)
North America
LATAM (= Latin America)
APAC (= Asia-Pacific) 2.909
1.328
937
564
80 2.693
1.256
872
500
65 +8 %
+6 %
+7 %
+13 %
+23 % Sales 2.909 2.693 +8 %

 

Sales H1/2023

in TEUR H1/2023 H1/2022 Change Sales
EMEA (= Europe, Middle East, Africa)
North America
LATAM (= Latin America)
APAC (= Asia-Pacific) 5.866
2.861
1.834
1.045
126 5.552
2.940
1.655
810
147 +6 %
-3 %
+11 %
+29 %
-14 % Sales 5.866 5.552 +6 %

 

Looking at the individual regions, aap achieved in some regions very significant sales increases. Business in the LATAM markets developed particularly strongly, with growth in the second quarter and the first half of the year of +13 % and +29 % respectively. This positive development can be attributed to the continuous expansion of our distributors in important markets such as Mexico and Brazil, the progressing market development through the new distributor in Colombia, as well as the growing activities in the entire Latin American region. In the EMEA region, Germany in particular performed well again after a long period of stagnation and grew across the board in the second quarter, resulting in an overall increase in sales of +16 %. As a result of the upswing in the second quarter, Germany recorded an increase of +5 % for the first half of the year. In the other central EMEA markets, customers continued to hold back on new investments and inventory build-up due to the ongoing difficult economic situation, particularly because of severely delayed payment flows from healthcare facilities/systems. Sales excluding Germany declined slightly (Q2: -2 % y-o-y, H1: -8 % y-o-y). aap expects a positive catch-up effect here in the second half of the year.

In the USA, aap continued its growth path with +7 % sales growth in the second quarter and thus half-year growth of
+11 %. In addition to the growing number of surgeries performed, sales growth was also supported by higher-valued cases.

The figures contained in this press release are preliminary as of June 30, 2023, which are subject to change until final publication. aap plans to publish a press release on July 20, 2023, on the study progress of the human clinical trial of the promising antibacterial silver coating technology and to announce the final results of the second quarter and the first half of 2023 on August 14, 2023.





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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, 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 as part 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.

If you have any questions, please contact: aap Implantate AG; Marek Hahn; Member of the Management Board, CFO; Lorenzweg 5; 12099 Berlin; Phone: +49 (0)30 75019 - 134; Fax: +49 (0)30 75019 - 290; E-Mail: m.hahn@aap.de