Aap Implantate Ag · XETR:AAQ1
Aap Implantate — German Spring Conference 2022
24 slides from Aap Implantate's conference presentation, May 24, 2022
Slide 1: aap Implantate AG Corporate Presentation
aap Implantate AG Corporate Presentation German Spring Conference Rubino Di Girolamo, CEO Marek Hahn, CFO Frankfurt Main, May 24, 2022
Slide 2: Safe Harbor Statement
Safe Harbor Statement Our publication may include predictions, estimates or other information that might be considered forward-looking. While these forward-looking statements represent our current judgment on what the future holds, they are subject to risks and uncertainties that could cause actual
Slide 3: Table of contents
Table of contents 1 Executive Summary 4 2 Trauma Business 10 3 Antibacterial Silver Coating Business 14 3
Slide 4: Investment highlights
Executive Summary Investment highlights New management team that executed extensive restructuring over the last 24 1 months with a now profitable operating trauma business (EBITDA) 2 Scale up company striving for accelerated and profitable growth with significantly improved bottom-line; doubling sal
Slide 5: aap at a glance
Executive Summary aap at a glance Organisation Technologies ➢ Innovative medical technology company founded in 1990 ➢ Headquartered with manufacturing site in Berlin, Germany, one US subsidiary (100%) ➢ Employees (March 31, 2022): 119 heads (FTE: 106) ➢ Pure Player in Trauma ➢ Development, manufactu
Slide 6: Highlights FY/2021
Executive Summary Highlights FY/2021 Total Sales Revenue Growth EUR 12.2m + 30% vs PY (+32% CER¹) • Exceeding 2019 sales • All markets with double-digits growth • >20% in all regions • EMEA accounting for >50% total sales EBITDA • US (+21%) with further + 84% vs PY (-0.8m; PY: -4.8m) expansion on op
Slide 7: Visible restructuring successes in the last 24 Months
Executive Summary Visible restructuring successes in the last 24 Months *** kEUR Sales/ EBITDA recurring/Gross Margin kEUR Sales/ Sales per FTE kEUR 12.500 95% 12.500 140 10.000 90% 120 10.000 7.500 85% 100 5.000 80% 7.500 80 2.500 75% 5.000 60 0 70% 40 2.500 -2.500 65% 20 -5.000 60% 0 0 31.12.2019
Slide 8: Highlights Q1/2022
Executive Summary Highlights Q1/2022 Total Sales Revenue Growth EUR 2.9m + 6% vs PY • Solid growth over Q1/2021 • Main growth driver EMEA and US • EMEA (+19% yoy) accounting for ~ 60% total sales with solid growth EBITDA • US (+9% yoy) with further -0.5m (PY: -0.2m) growth following a hesitant • Pla
Slide 9: Table of contents
Table of contents 1 Executive Summary 4 2 Trauma Business 10 3 Antibacterial Silver Coating Business 14 9
Slide 10: Differentiated and broad aap LOQTEQ trauma portfolio
Trauma Business Differentiated and broad aap LOQTEQ® trauma portfolio Hand portfolio Pelvis Surgical intervention areas Plating Plating SystemSystem not fully covered today but foreseen in current portfolio roadmap Surgical intervention areas recently addressed (already FDA approved) Cannulated Cann
Slide 11: LOQTEQ technology has tangible benefits for surgeons
Trauma Business LOQTEQ® technology has tangible benefits for surgeons… Technology Key Achievements ✓ Unique technology with comprehensive patent protection ✓ 4 superior patent families that place strong demands on the design and fixation technology of the LOQTEQ® system ✓ Locking & Compression in ON
Slide 12: Revenue share growth 2019 – 2024 (E)
Trauma Business Revenue share growth 2019 – 2024 (E) Sales Growth Contribution 2019-2024E (only continued Trauma¹) 20 aap CAGR: ~11% 15 10 5 0 2019 2020* 2021 2022 (E) 2023 (E) 2024 (E) EMEA USA direct USA BD LATAM APAC Discont. Portfolio Upper range sales 2022 ¹ Effects of discontinued portfolio de
Slide 13: Table of contents
Table of contents 1 Executive Summary 4 2 Trauma Business 10 3 Antibacterial Silver Coating Business 14 13
Slide 14: "Game-Changer" for medical device industry
Antibacterial Silver Coating Business “Game-Changer” for medical device industry Unmet Need Our Response Antibacterial Silver Coating by aap Biofilm formed on an TiAl6V4 implant surface • Healthcare-associated infections (HAI) ✓ Pioneer in the development of an are one of the major challenges in ant
Slide 15: Intended Purpose
Antibacterial Silver Coating Business Intended Purpose Silver Coating T e c h n o l o gy P l a t f o r m Trauma Recon Other Plates + screws Cannulated screws Nails External fixation Hip prosthesis Cardiovascular Knee prosthesis Extremities Spine Dental Surgical instruments VET The general intended p
Slide 16: Investigator initiated trial (IIT)/ compassionate use
Antibacterial Silver Coating Business Investigator initiated trial (IIT)/ compassionate use Investigator Initiated Trial Compassionate Use Cases • Prof. Dr. Dr. Volker Alt (Chair and • Prof. Dr. Dr. Volker Alt (Chair and director for trauma surgery, director for trauma surgery, University University
Slide 17: Approval and market launch
Antibacterial Silver Coating Business Regulatory pathway – Milestones* Human clinical study ➢ Prospective, controlled, blinded, multicenter study with ~230 patients in Germany and USA ➢ Patient recruitment ➢ Implantation and ➢ Data evaluation follow-up ➢ Submission of application 1 – 1 ½ year 1 year
Slide 18: Investment highlights
Executive Summary Investment highlights New management team that executed extensive restructuring over the last 24 1 months with a now profitable operating trauma business (EBITDA recurring) 2 Scale up company striving for accelerated and profitable growth with significantly improved bottom-line; do
Slide 19: aap stock clearly undervalued in peer group comparison
Executive Summary aap stock clearly undervalued in peer group comparison Small & Mid Cap Peers FY/2021 (E) ➢ EV/Sales: 7.1 ➢ EV/EBITDA: 21.0 FY/2021 (E) ➢ EV/Sales: 6.6 ➢ EV/EBITDA: 38.3 FY/2021 (E) ➢ EV/Sales: 6.7 ➢ EV/EBITDA: 22.5 FY/2021 ➢ EV/Sales: 1.5 ➢ EV/EBITDA: <0 → EV multiples indicate hug
Slide 20: Disclaimer
Disclaimer All information in this presentation is provided without guarantee for the correctness and completeness of the content. The presentation is provided for the recipient's internal use only. The content including texts, pictures and graphics are subject to copyright protection and other laws
Slide 21: …and continuing committed to innovation
aap: 30 years of… Great Service Highest Quality Excellent State of the Art Training Research & Development at the Berlin site Safe Products …and continuing committed to innovation 21
Slide 22: Lorenzweg 5 12099 Berlin, Germany Phone: +49 30 75019 - 0
Rubino Di Girolamo Chairman of the Management Board / CEO Phone: +49 (0)30 75019 - 170 Mobile: +49 (0)172 975 6012 Email: r.digirolamo@aap.de Lorenzweg 5 12099 Berlin, Germany Phone: +49 30 75019 - 0 Agnieszka Mierzejewska Fax: +49 30 75019 - 111 info@aap.de Member of the Management Board/ COO Phone
Slide 23: Notes
cap Notes
Slide 24: Notes
cap Notes