EQS-News: aap Implantate AG closes financial year 2025 with earnings improvement and provides outlook for 2026

 aap Implantate AG ("aap" or "Company") informs:

• Further improvement in consolidated EBITDA from EUR -0.85 million to EUR -0.64 million
• Trauma business almost balanced at EBITDA level despite high additional costs
• Recurring EBITDA in Trauma segment: EUR 0.4 million positive
• Clinical human study for the new surface technology successfully completed
• US business: strong sales development in the second half of the year

The 2025 financial year was characterized by a challenging market environment. Geopolitical tensions, in particular the US tariff policy in the first half of the year and the unstable situation in the Middle East in the further course of the year, led to increased uncertainty in the relevant sales markets.

In the 2025 financial year, aap Implantate AG achieved a 2% increase in sales to EUR 12.5 million, which was above the previous year's level.

The sales trend was largely stable regionally; except for the APAC region, the development in the individual regions was largely homogeneous.

2025/2024 – Revenue

The EMEA region remains the company's largest sales region, accounting for around 50% of total sales. The home market of Germany recorded growth of 5%. For the coming year, the contracts with the main hospital groups and purchasing groups have been extended.

The other core markets of Spain/Portugal and South Africa showed consolidation after a strong previous year.

In the LATAM region, Brazil achieved growth of over 60%. In contrast, the other markets recorded predominantly declining sales, which are mainly due to normalization after investment-related special effects in the previous year. This results from different price structures between initial set sales and downstream component sales.

In the APAC region, revenue development was driven by market entry into Taiwan and South Korea as well as corresponding investments in original equipment. Thailand recorded growth of around 30% compared to the previous year, which already showed growth of 43%.

Key financial figures for the full year 2025 aap Group

The Group's EBITDA improved to EUR -0.64 million but remained burdened by one-off effects. In the Trauma segment, EBITDA was almost break-even. Adjusted for one-off effects, EBITDA was positive at around EUR 0.4 million.

The human clinical trial with antibacterial implants has been successfully completed. The participating study sites have reviewed the final clinical report. The assessment by the responsible ethics committee and the Federal Institute for Drugs and Medical Devices (BfArM) is still pending.

The results are scheduled to be submitted to an internationally renowned journal in the second half of the year. This would further underline the scientific relevance of the technology and significantly increase its visibility in the international scientific community.

The clinical trial was funded by the German Federal Ministry of Research, Technology and Space ("BMFTR"). The grant granted to the company (funding codes 13GW0313A+B, 13GW0449A+B) is part of the BMFTR's field of action "Healthcare Economics in the Health Research Framework Program" (= funding body). According to the BMFTR, funding is provided for projects on the topic of "Transferring medical technology solutions into patient care - proving clinical evidence without delay". For further information, please refer to the corresponding guideline on the website of the BMFTR: https://www.bmftr.bund.de/SharedDocs/Bekanntmachungen/DE/2024/07/2024-07-29-Bekanntmachung-Lösungen.html.

The company is working on the approval of the new implants for both the European market under the Medical Device Regulation (MDR) and the US market (FDA).

Work on MDR certification of the LOQTEQ® trauma portfolio has been completed; full certification was achieved in the first quarter of 2026. This creates the prerequisites for the introduction of further products in CE markets. At the same time, internal R&D capacities will be freed up, which will be increasingly invested in the further development of the product portfolio in the future.

In the 2025 financial year, financing measures were implemented to support investments in technology and the expansion of the trauma business.

With the completion of MDR certification and the human clinical trial, significant operational milestones have been achieved that have led to a reduction in previously existing business risks.

Against this backdrop, the company considers itself well positioned for further operational business development.

Outlook for 2026

For the 2026 financial year, aap Implantate AG aims to improve sales and earnings.

In the first quarter of 2026 – except for the markets in the Middle East – there was a stable sales development, which was slightly above the previous year's level. Growth impulses resulted in particular from a positive development in the USA (+23% in local currency vs. Q1/2025 and +11% in EUR) and in Germany (+15% vs. Q1/2025), which largely offset the downturn in the Middle East.

A detailed presentation of the sales development in the first quarter of 2026 will be published in a separate press release.

Following successful MDR certification of the entire Trauma portfolio, it is planned to start launching new products in CE markets as well as CE-relevant markets in the second half of 2026. The market launches will take place gradually; a significant contribution to earnings is expected from the 2027 financial year.

Geopolitical developments in the Middle East are having a negative effect. The conflict is expected to have a negative impact on sales development in the region. The extent of the effects depends in particular on the duration and intensity of the conflicts. Possible declines in sales are to be compensated for – as far as possible – by developments in other regions, which was achieved in Q1/2026.

The Management Board continuously monitors macroeconomic and geopolitical conditions and takes into account their potential impact on the Company's business development and financial results.

Against this backdrop, the company forecasts revenues in a range of EUR 11.5 million to EUR 14.5 million for the 2026 financial year.

At earnings level, EBITDA is expected to be in the range of EUR -1.0 million to EUR +1.5 million, based on expected revenue growth, further efficiency improvements and taking into account a potential complete discontinuation of the MEA 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 global medical technology company headquartered in Berlin. The company develops, produces and markets products for traumatology. In addition to the innovative anatomical plate system LOQTEQ®, the patent-protected portfolio includes a wide range of perforated screws. In addition, aap Implantate AG has an innovative pipeline of promising development projects, such as an antibacterial silver coating technology. This technology addresses critical and so far, insufficiently solved problems of wound infections after surgery (SSI) in traumatology and is also applicable in other medical technology areas. In Germany, aap Implantate AG sells its products directly to hospitals, purchasing groups and affiliated clinics. Internationally, it mainly uses a broad network of distributors in around 41 countries. In the USA, the company and its subsidiary aap Implants Inc. rely on a network of agents and a selective direct sales strategy. The shares of aap Implantate AG are listed in the General Standard of the Frankfurt Stock Exchange (XETRA: AAQ.DE). For more information, please visit our website at www.aap.de.

There may be technical rounding differences in the figures presented in this press release, which do not affect the overall statement.

Forward-Looking Statements

This release may contain forward-looking statements based on the current expectations, assumptions and forecasts of the Management Board and information currently available to it. The forward-looking statements are not to be understood as guarantees of future developments and results referred to therein. Various known and unknown risks, uncertainties and other factors could cause the actual results, financial condition, development or performance of the Company to differ materially from the estimates given herein. These factors also include those described by aap in published reports. Forward-looking statements therefore speak only as of the date on which they are made. We undertake no obligation to update the forward-looking statements made in this release or to conform them to future events or developments.

If you have any questions, please contact: aap Implantate AG; Rubino Di Girolamo; Chairman of the Board of Directors/CEO; Lorenzweg 5; 12099 Berlin
Phone : +49 (0)30 75019 – 141; Fax: +49 (0)30 75019 – 170; Email: r.digirolamo@aap.de