Amplitude Surgical: FY 2015-16 Sales of €80.7 Million, up 13.6% in Actual Terms and 16.5% at Constant Currency

Strong growth of +18.8% in Q4 2015-16 sales, to €22.0 million (constant currency)

• France: sales growth of +12.0% to €12,9 million and further market share gains
• International: further solid growth of +29.7% to €9.1 million at constant currency
• Further buoyant growth for Novastep, the entity covering lower-limb activities

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 2015-16 financial year.

Olivier Jallabert, Chairman and CEO of Amplitude Surgical, says: “This final quarter marks the end of a year of solid growth at every level. With a particularly solid financial base, we have been able to capitalize on the assets that have driven Amplitude Surgical over many years: our ability to innovate and execute. Our Novastep subsidiary, dedicated to lower-limb solutions, recorded a particularly strong performance, with its growth accelerating quarter after quarter. We are fully confident in our ability to continue recording buoyant growth in our global sales and to consolidate our competitive positioning.”

Q4 2015-16 sales € thousands - IFRS	30/06/2016	30/06/2015	Δ actual	Δ constant currency
France	12,940	11,557	+12.0%	+12.0%
International	9,108	7,267	+25.3%	+29.7%
of which: Subsidiaries	6,085	4,662	+30.5%	+37.4%
of which: Distributors	3,023	2,605	+16.1%	+16.1%
Total	22,048	18,824	+17.1%	+18.8%

FY 2015-16 sales € thousands - IFRS	30/06/2016	30/06/2015	Δ actual	Δ constant currency
France	52,318	45,471	+15.1%	+15.1%
International	28,416	25,618	+10.9%	+19.1%
of which: Subsidiaries	20,477	18,000	+13.7%	+25.1%
of which: Distributors	7,939	7,618	+4.2%	+4.9%
Total	80,734	71,089	+13.6%	+16.5%

Over the 4^th quarter of our 2015-16 financial year (from April to June), sales totaled €22.0 million, up +17.1% in actual terms and +18.8% at constant currency. Thus, over the 2015-16 financial year to June 30, 2016, the Group recorded annual sales of €80.7 million, up +13.6% in actual terms and +16.5% at constant currency.

On the French market, Amplitude Surgical continued its growth in the 4^th quarter, with sales increasing by +12.0% to €12.9 million, driven by the acquisition of new clients following an excellent 3^rd quarter. Over the year as a whole, the Group recorded a solid performance in France, marked by a solid growth momentum and an increase in its market share, which was already considerable, through the recruitment of numerous surgeons.

The +29.7% growth in international sales during the 4^th quarter at constant currency was first and foremost driven by the Group’s subsidiaries (+37.4% at constant currency), as well as by distributors (+16.1% at constant currency). The quarter saw substantial growth in Brazil and a continuing solid sales momentum in Benelux. The fine performance of our South African subsidiary should also be noted, with the latter generating sales of almost €136 thousand after less than 4 months of activity. Over the year as a whole, Belgium recorded the greatest improvement of the Group’s subsidiaries (excluding Novastep) with solid and homogenous sales performances in terms of growth.

Sales by Novastep, which provides innovative solutions for lower-limb (foot and ankle) surgery, continued to record buoyant growth over the final quarter, following the launch of its products in July 2014. Quarterly sales totaled €1.1 million, i.e. approximately 5% of total sales, and were thus up +63% compared with the 4^th quarter of 2014/15, while annual sales totaled €3.7 million in 2015/16, i.e. 2.7 times the previous year’s figure. Novastep’s sales doubled in France, while international sales increased almost ninefold, including over €1.4 million already recorded in the United States 16 months after the creation of the American subsidiary, Novastep Inc.

Recent highlights

In early June, Amplitude Surgical filed for 510(k) approval with the U.S. Food and Drug Administration (FDA) for its posterior-stabilized knee prosthesis, ANATOMIC.

Next financial press release: 2015-16 annual results, on Thursday October 6, 2016, 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. Amplitude Surgical operates on the lower-limb market through the intermediary of its Novastep subsidiaries in France and the United States. Amplitude Surgical distributes its products in more than 30 countries. On June 30, 2015, Amplitude Surgical had a workforce of 248 staff and recorded sales of 71.1 million euros and an EBITDA margin of close to 19%.