AAP Implantate's (DE:AAQG) Q216 results were in line with the upper end of company guidance, with sales of €3.4m and an EBITDA loss of €1.4m. AAP Implantate continues to focus on its strategic transition to being a pure trauma company, following the recent sale of its Biomaterials business. As the company continues to drive sales of LOQTEQ in Western Europe and the US alongside the implementation of cost reduction measures, we could see a return to sustained growth.
Q216 results
aap Implantate reported sales and EBITDA in line with the upper end of its guidance. It reported sales of €3.4m (guidance €2.5-3.5m) and an EBITDA loss of €1.4m (guidance loss of €1.5-2.5m). This was achieved against the backdrop highlighted by the company in which a number of BRICS and SMIT states’ markets remain volatile such as China, Russia and Turkey and continue to make no contribution to sales. It is encouraging that aap Implantate delivered on guidance as it announced in Q1 that it had started a number of initiatives to drive Trauma sales in more established markets (Western Europe and the US). US sales were reported at €0.7m in Q2, an increase of 250% from Q215 (€0.2m). In our opinion, the progress of uptake in the US market is key to the success of LOQTEQ
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