Financial

Amplitude Surgical: 2017-18: a Year of Achievement

July 26, 2018

VALENCE, France–(BUSINESS WIRE)–regulatory News:

Amplitude Surgical (Paris:AMPLI) (ISIN: FR0012789667, Ticker: AMPLI, PEA-PME eligible), a leading French player on the global surgical technology market for lower-limb orthopedics, today announces its sales for its 2017-18 financial year.

Olivier Jallabert, Chairman and CEO of Amplitude Surgical, says: “Exceeding €100 million in annual sales illustrates Amplitude Surgical’s positive momentum, with continuous organic growth since the Company’s creation in 1997. Our ongoing innovation strategy, our developments – notably on the major American market – and our solid financial structure will continue to drive our growth and our future economic and financial performances, our target being to double our sales in five years”.

Q4 2017-18 sales

30/06/2018 30/06/2017 Δ actual

Δ on a
comparable
basis*

€ thousands – IFRS
France 16,223 13,883 16.9% 7.8%
International 10,569 10,285 2.8% 9.4%
of which: Subsidiaries 7,118 7,400 -3.8% 5.3%
of which: Distributors 3,451 2,885 19.6% 19.7%
Total 26,791 24,168 10.9% 8.5%

FY 2017-18 sales

30/06/2018 30/06/2017 Δ actual Δ on a comparable basis*
€ thousands – IFRS
France 63,636 58,145 9.4% 7.2%
International 36,710 35,192 4.3% 9.8%
of which: Subsidiaries 26,633 25,380 4.9% 12.5%
of which: Distributors 10,077 9,812 2.7% 2.8%
Total 100,346 93,337 7.5% 8.2%

* constant currency and perimeter

During its 2017-18 financial year to June 30, 2018, Amplitude Surgical maintained a solid commercial momentum with sales totaling €100.3 million, up +7.5% in actual terms and +8.2% on a comparable basis (constant currency and perimeter).

Over the fourth quarter alone (April to June), sales totaled €26.8 million, up +10.9% in actual terms and +8.5% on a comparable basis.

On the French market, Amplitude Surgical recorded further solid growth with annual sales totaling €63.6 million, +9.4%, and fourth-quarter sales totaling €16.2 million, +16.9%. The strengthening of the teams, with the newly-acquired direct management of key territories in the East of the country and the Paris region leading to the recruitment of numerous surgeons, has enabled the Group to continue increasing its market share. The sales figure also benefited from the non-Group activity of the SOFAB industrial subsidiary, now completely consolidated.

Amplitude Surgical also continued to record strong international growth, with sales totaling €36.7 million over the year, up +9.8% at constant currency, notably thanks to the fine performance recorded by subsidiaries, which generated sales of €26.6 million, +12.5% at constant currency.

Over the financial year, the activity of the Group’s subsidiaries, which now account for 73% of international sales, beyond the French market, notably benefited from the dynamism of the Australian, Swiss and Benelux markets as well as the contribution of more than €2 million from the new subsidiaries in Japan and South Africa.

For the fourth year of marketing of Novastep’s products, innovative solutions for lower-limb (foot and ankle) surgery, sales totaled €6.6 million, up close to +9%, and accounted for 7% of Group sales with over 50% of its activity recorded abroad.

Good cash position at end-June

With cash and cash equivalents of almost €30 million at the end of its 2017/2018 financial year, Amplitude Surgical has the necessary means to finance its growth.

Recent highlights

  • Amplitude Surgical has just launched EVOK®, a cementless femoral stem. Having obtained CE marking, Amplitude Surgical will soon initiate the marketing of this high-added-value product;
  • In the United States, Amplitude Surgical has signed a contract with a distributor in Illinois. With more than 25 years of experience in the orthopedic industry and accompanied by 5 employees, this representative will quickly present Amplitude’s portfolio with the main users of the state;
  • On the industrial side, the new recently-certified white room delivered its first batches in June. It should be remembered that the insourcing of this key stage in the production process will have a positive impact on the Group’s EBITDA from the 2018-19 financial year.

Next financial press release: 2017-18 annual results, on Wednesday October 17, 2018, after market.

About Amplitude Surgical
Founded in 1997 in Valence, France, Amplitude Surgical is a leading French player on the global surgical technology market for lower-limb orthopedics. Amplitude Surgical develops and markets high-end products for orthopedic surgery covering the main disorders affecting the hip, knee and extremities, and notably foot and ankle surgery. Amplitude Surgical develops, in close collaboration with surgeons, numerous high value-added innovations in order to best meet the needs of patients, surgeons and healthcare facilities. A leading player in France, Amplitude Surgical is developing abroad through its subsidiaries and a network of exclusive distributors and agents distributing its products in more than 30 countries. Amplitude Surgical operates on the lower-limb market through the intermediary of its Novastep subsidiaries in France and the United States. At June 30, 2018, Amplitude Surgical had a workforce of nearly 400 employees and recorded sales of over 100 million euros.

Contacts

Amplitude Surgical
Philippe Garcia
CFO
finances@amplitude-surgical.com
+33 (0)4 75 41 87 41
or
NewCap
Investor Relations
Marc Willaume
amplitude@newcap.eu
+33 (0)1 44 71 00 13
or
NewCap
Media Relations
Nicolas Merigeau
amplitude@newcap.eu
+33 (0)1 44 71 98 55

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Mason Krell

Mason began his career in the Orthopedic Industry in 2017 when he joined The De Angelis Group as a Research Manager. He has developed a strong network within the industry and is very dedicated to helping companies maximize opportunities and disrupt markets.

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