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, announces its sales for the third quarter of its 2016-17 financial year.
Olivier Jallabert, Chairman and CEO of Amplitude Surgical, says: “Amplitude Surgical is continuing to record a high level of growth, driven by all its markets. This performance results from the successful implementation of the Group’s development strategy, supported by all members of staff, and, beyond that, our strengthened positioning on the largest markets with an innovative offering to meet the many challenges facing surgeons and their patients represents the bedrock of our future growth.”
Q3 2016-17 sales
|€ thousands - IFRS|
|of which: Subsidiaries||6,510||5,136||26.7%||16.0%|
|of which: Distributors||2,437||2,202||10.7%||10.6%|
9M 2016-17 sales
|€ thousands - IFRS|
|of which: Subsidiaries||17,980||14,392||24.9%||16.6%|
|of which: Distributors||6,927||4,916||40.9%||40.9%|
Over the first 9 months (to end-March 2017) of the Group’s 2016-17 financial year, Amplitude Surgical recorded sales of €69.2 million, up +17.9% in actual terms and +15.8% in organic terms. The buoyant growth at the start of the year has continued at a solid pace, with organic growth of +10.2% in Q3 2016-17, nevertheless affected by a particularly demanding basis of comparison (organic growth of +18.6% in Q3 2015-16).
In France, Amplitude Surgical is continuing to make market share gains, notably by winning over numerous new clients. Sales thus totaled €18.4 million in the 3rd quarter, up +8.3%, and €44.3 million over the first 9 months of 2017, up +12.4%.
The Group is continuing to record buoyant International growth, both via its subsidiaries and through its distributors. In the 3rd quarter, sales totaled almost €9 million, up 21.9% in actual terms and 14.4% at constant currency. Over the first 9 months of 2017, sales totaled €24.9 million, up +29.0% in actual terms and +22.8% at constant currency, with 24.9% growth for its subsidiaries, which accounted for 72% of activity, and 40.9% growth for distributors. The sales performance was particularly satisfactory on most markets, and notably the Group’s European markets, while the first contribution of its new subsidiaries in South Africa and Japan came to almost €1 million.
Marketed since mid-2014, the Novastep range for lower-limb (foot and ankle) surgery continued to record very strong growth. Over the first 9 months to the end of March, its sales totaled €4.5 million, up almost 70%, and accounted for almost 7% of Group activity. Sales were doubled in the United States, which now accounts for over 40% of this activity, while in France they increased by almost 50%.
In the last quarter, Amplitude Surgical completed the setting up of an Iso 7 and Iso 5 clean room in Valence for the cleaning and packaging of surgical implants. As soon as the equipment was received, manufacturing was launched with a view to passing validation tests over a 6-month period. In accordance with the initial schedule, this equipment should thus be certified in time to become operational during the fall of 2017.
Next financial press release: 2016-17 annual sales, on Wednesday July 26, 2017, 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. At June 30, 2016, Amplitude Surgical had a workforce of almost 300 employees and recorded sales of over 80 million euros.