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Berlin (ots Ad hoc-Service) -
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.
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
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Original-Content von: aap Implantate AG, übermittelt durch news aktuell