Interim Report 2016 Half-Year Report - 32 Pages

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Catalogue excerpts

Interim Report Half-Year Report

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Interim Report | 2nd quarter 2016 | Half-Year Report Selected figures Sales and result1) Sales (KEUR) EBITDA (KEUR) EBIT (KEUR) Cash-EBT2) (KEUR) Net result (KEUR) Cash flow and investments3) Operative Cash flow (KEUR) Investing activities in intangible assets (KEUR) Investing activities in tangible assets (KEUR) Total investing activities (KEUR) Value development1) Intangible assets (KEUR) Tangible assets (KEUR) Working capital (KEUR) Working capital ratio4) (sales) Non-current assets (KEUR) Current assets (KEUR) Capital structure3) Total assets (KEUR) Shareholders’ equity (KEUR) Equity ratio Share5)...

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Interim Report | 2nd quarter 2016 | Half-Year Report Table of Contents Selected Figures Foreword by the Management Board Interim Group Management Report • Business and General Conditions • . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7 • Economic Report • Earnings Position Asset Position Financial Position • Risk and Opportunity Report • . . . . . . . . . . . . . . . . . . ....

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Interim Report | 2nd quarter 2016 | Half-Year Report Foreword by the Management Board Ladies and Gentlemen, Dear Shareholders, Employees, and Business Partners, The second quarter of 2016 was a very eventful quarter, in due to the tense economic and political framework conditions which we were able to make further significant progress to- in a number of BRICS and SMIT states markets such as China, wards meeting the objectives of our Management Agenda and Turkey and Russia continued in the second quarter to make no strategy implementation. contribution towards sales. In terms of sales and EBITDA,...

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Interim Report | 2nd quarter 2016 | Half-Year Report a part of them to our shareholders. In this context we still eval- Last but not least, we would like to once again mention this uate different options without having taken a measure into year’s annual general meeting, which took place in Berlin on closer consideration or decided on it. For example a dividend 17 June 2016. The main discussion point was the counter-mo- payment in financial year 2017 based on the annual financial tions brought by Westlake GmbH & Co. Beratungs KG, an un- statements 2016 seems to be conceivable. successful bidder in...

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Interim Report | 2nd quarter 2016 | Half-Year Report The Share General Information about aap’s Share International Securities Identification Number (ISIN) Securities Identification Number (WKN) Listing Stock Symbol Market Segment market, consequently reaching the quarterly low of EUR 1.33 on both June 14 and 30, 2016, which therefore also marked the closing price for the reporting period. Thus, in the second 506 660 All German stock exchanges, XETRA AAQ Prime Standard quarter, the share lost a total of about 16% of its value. Also in view of the first half of 2016, the capital market envi- Prime...

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Interim Report | 2nd quarter 2016 | Half-Year Report  DAXsubsector Medical Technology Analysts‘ Recommendations Research Company Warburg Research GmbH Edison Investment Research GmbH Harald Hof Dr. Linda Pomeroy Target Price All research reports by the analysis firms are available at www.aap.de/en/investoren/aktie/research. The reports by Edison Investment Research GmbH are only available in English.

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Interim Report | 2nd quarter 2016 | Half-Year Report Investor Relations company’s equity story and participated in several one-on-one In the second quarter of 2016, as usual, aap focused on regular meetings with existing and in particular potential new in- and transparent communication with its stakeholders as part vestors. In addition, numerous conference calls with investors of its investor relations activities. A focal point of the reporting were held in the second quarter. period was certainly the 7th DVFA Spring Conference in Frankfurt am Main. There, the Management Board presented the Later...

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Interim Report | 2nd quarter 2016 | Half-Year Report Interim Group Management Report Business and General Conditions AEQUOS Endoprothetik GmbH There is a 4.57% stake in AEQUOS Endoprothetik GmbH that Organizational and Legal Structure has no decisive influence on the operating and financial poli- In the consolidated financial statements, aap Implantate AG cies. The company is based in Munich. and all of its companies have been consolidated using the full consolidation method, in which the parent company aap Im- Former Subsidiaries plantate AG directly or indirectly holds the majority of voting rights...

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Interim Report | 2nd quarter 2016 | Half-Year Report Osteosynthesis Trauma Course” was held under the patronage In the magnesium technology area, aap focused on further of University Professor Dr. Christian Heiß and was attended by technological development of the resorbable implants in the doctors and distributors of the company. Product Developments and Approvals In the trauma business, the focus of research and development As at the reporting date of 30 June 2016, a total of 172 em- activities in the second quarter of 2016 was on new polyaxial ployees were employed in the continued operation...

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Interim Report | 2nd quarter 2016 | Half-Year Report dicate a deconsolidation profit of EUR 23.3 million, which was recorded sales of EUR 1.3 million in the USA, compared to EUR shown in the discontinued operation in the consolidated state- 0.3 million in the previous year. Together with this, we have ment of income. Sale costs totaled EUR 1.6 million within the seen a growing number of weekly operations with our LOQTEQ® transaction. Of this amount, a total of EUR 0.8 million was al- products and thus have access to US hospitals, either directly ready paid as at 30 June 2016. The purchaser is also...

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Interim Report | 2nd quarter 2016 | Half-Year Report In accordance with IFRS, aap, as a development-intensive com- manufacturing costs sustainably. In this regard, a reduction in pany, capitalizes not only internally produced capital goods but the share of external services and an increase in in-house man- also expenses for its own projects and development projects for ufacturing are essential to achieving an improvement in mar- which approval and economically successful sales are highly gins. In this context, further progress has been recorded. For ex- likely. aap capitalized EUR 0.4 million...

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