The Management Board of aap Implantate AG ("aap" or "Company") adjusts the forecast for sales and EBITDA for the financial year 2023. In addition, the Management Board today approved a package of measures for extensive staff reductions and further cost reductions.

The Management Board expects sales of EUR 11.2 million to EUR 11.8 million for the 2023 financial year, which is lower than the level of EUR 12.0 million to EUR 14.0 million forecast in the half-year report. The reason for this is that, on the one hand, there is a need to correct sales due to new or adjusted contractual regulations and, on the other hand, distributors are acting cautiously and, particularly in the last few months of the year, there were unexpected delays in the granting of approvals in several new international markets in which aap already has contracts with distribution partners. Originally, the company had anticipated an increase in sales development in the second half of the year compared with the first six months, particularly in the fourth quarter, from new customer business, which is now only materializing to a much lesser extent. These planned new sales will be postponed until the 2024 financial year.

The Executive Board also expects EBITDA of EUR -3.0 million to EUR -2.5 million for 2023, in contrast to the EBITDA forecast in the half-year report (EUR -2.5 million to EUR -1.7 million). In addition to one-off expenses of up to EUR 0.4 million incurred as a result of personnel measures as part of the restructuring, this is also due to lower sales.

Starting from a headcount of 103 as of November 30, 2023, aap will reduce its workforce by around 13% by the end of the current financial year in cooperation with a private-sector transfer company. The aim of the package of measures is to save more than EUR 1 million in personnel costs annually from 2024 and to achieve a positive EBITDA as well as a balanced operating cash flow (including the rental and lease payments shown in the cash flow from financing activities in accordance with IFRS 16) in the operating trauma business.





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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, produces and markets products for traumatology. The IP-protected portfolio includes the innovative anatomical plate system LOQTEQ® and 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 internationally 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. Sales are conducted both through distribution agents and through 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.

Forward-looking statements
This release may contain forward-looking statements that are based on the current expectations, assumptions and forecasts of the Executive Board and information currently available to it. The forward-looking statements are not to be understood as guarantees of the future developments and results mentioned therein. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual results, financial situation, development or performance of the company and the estimates given here. These factors include those that aap has described in published reports. Forward-looking statements therefore speak only as of the date on which they are made. We assume no obligation to update the forward-looking statements made in this release or to adapt them to future events or developments.



Contact:
aap Implantate AG; Marek Hahn; Member of the Management Board; Lorenzweg 5; 12099 Berlin
Tel.: +49/30/750 19 - 134; Fax: +49/30/750 19 - 290; E-Mail: m.hahn@aap.de