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ots Ad hoc-Service: aap Implantate AG <DE0005066609> aap Implantate AG issues group financial statement for 1999

Berlin (ots Ad hoc-Service) -

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announcement.
Group turnover: Increase of 18.4% to DM 12.5 million Profit on
ordinary operation: Improvement by 340% to DM 674 thousands Group
result (DVFA/SG): Increase by 880% to DM 453 thousands Cash earnings
(DVFA/SG): Increase of 40% to DM 1.78 million
Gratifying development in result and turnover
Overall, business development in the last financial year was
positive. In the 1999 financial year we succeeded in raising group
turnover by 18.4% to DM12.5 million (previous year: DM10.5 million).
The profit on ordinary operations rose in financial 1999 by about 34%
over the previous year, to DM 674 thousands. Extraordinary costs of
DM 2.58 million incurred in connection with the stock market
flotation led to a negative result for the period of DM 1.01 million.
However, latent taxes on income resulting from the carry-forward of
losses and consolidation of aap companies led to a reduction of DM
1.1 million in the deficit for the period. The annual result for the
group, adjusted according to DVFA/SG, amounts to DM 453 thousands an
increase of more than 880% over the comparable figure in 1998. This
gives a DVFA/SG result per share of DM 0.12 (previous year: DM 0.01).
Cash earnings according to DVFA/SG amount to DM 1,78 million
(previous year: DM 1.27 million).
Above-average growth in Germany
The stepping up of sales activities in the period under review led
to above- average growth in Germany. Turnover in Germany was
increased by 41.2% in comparison with the previous year. The 34%
growth in turnover from direct sales via our sales engineers is
especially gratifying.
Outlook
Management assumes that group turnover of DM 20.6 million will be
achieved in the current financial year. This means a 65% increase in
turnover over the previous year. Profit before taxes on income is set
to reach about DM 3,9 million. The net profit as per DVFA/SG will be
around DM 2 million. This corresponds to an increase in the DVFA/SG
net profit of around 340% to DM 0.53. In 2001 sales revenues will
amount to DM 40,1 million and the profit before taxes on income will
reach DM 9,5 million. The group net profit according to DVFA/SG will
reach 5 million, which corresponds to an DVFA/SG income per share of
DM 1,32 DM.
aap's business strategy is for future corporate growth to take
place by means of controlled expansion of business in Germany and
abroad. The next steps on the road to achieving this are to extend
the international sales network and to translate projects currently
in development into marketable life-science products. The planned
market launch in this financial year of the trauma shoulder and the
Biorigid Femur System (BFS), the market volume for both of which is
very interesting, leads us to expect an extremely positive
development.
The health market is a growth market. With its present product
portfolio aap is just at the start of a development which in the long
term will lead to a life- science corporation which extends the
development, production and marketing of skeletal implants to other
organ systems. In line with this strategic expansion, during the
current financial year aap expects to complete several acquisition
projects which have been initiated.
For further questions please contact:
aap Implantate AG Bruke Seyoum Alemu Member of the Board Finance
und Information Technology Lorenzweg 5 Tel. 030-750 19-170 12099
Berlin Fax. 030-750 19-111
End
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