Report

aap Implantate - Focus is the key foundation

aap Implantate’s recent results for Q317 and the first nine months of 2017 (9M17) justified its recent trauma focus with 11% and 13% increases in trauma sales, respectively. With investments in the Quality First initiative, the evaluation of strategic options and the share buyback, it was pleasing to see that sales and EBITDA (loss) continue to be expected within the guidance range for the full year, albeit towards the lower end of the range.
Underlying
aap Implantate AG

AAP Implantate is engaged in the development, manufacture and marketing of trauma implants for healing fractures, and in biomaterials (bone cements and cementing devices). Co.'s main focus is on human bone and on healing or, if need be, replacing it. In the trauma area, Co. develops solutions to restore fractures (osteosynthesis). These trauma implants are used to fix and stabilize fractures, partly supported by bone graft substitutes. Specifically, Co. develops and manufactures plates and screws for osteosynthesis, while its subsidiary, aap Biomaterials GmbH, focuses on bone cements and cementing devices for arthroplasty and spine surgery and on bone substitutes.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts
Andy Smith

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