Amplitude Surgical - 1st Quarter 2017-18: Further Growth

  • Solid sales growth despite a high basis for comparison
    • consolidated sales of €18.2 million, +6% at constant currency
    • strong growth for subsidiaries, +22% at constant currency to €6.1 million
  • Director of Sales for the US market takes up his post

VALENCE, France--()--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 the first quarter of its 2017-18 financial year.

Olivier Jallabert, Chairman and CEO of Amplitude Surgical, says: “Beyond the sustained growth in our activity, notably being driven by our international subsidiaries, this quarter is marked as well by the launch of many new products, resulting from our R&D investments. Thus, we have recorded the first commercial successes of Aclip®, for the arthroscopy surgery of the knee anterior cruciate ligament, and of Saturne®II, our dual mobility cup for the hip, with a new design and a new instrumentation allowing a faster and safer surgical procedure.

Q1 2017-18 sales

€ thousands IFRS

  30/09/2017   30/09/2016   Δ actual   Δ constant

currency

France   10,791   10,489   +2.9%   +2.9%
International   7,404   6,779   +9.2%   +11.1%
of which: subsidiaries   6,072   5,094   +19.2%   +21.6%
of which: distributors   1,332   1,685   -20.9%   -20.8%
Total   18,195   17,268   +5.4%   +6.1%

In the first quarter (July to September) of its 2017-18 financial year, Amplitude Surgical recorded sales of €18.2 million, up +5.4%. At constant currency, the increase was +6.1% and +13.5% in mean over two years.

  • On the French market, the quarterly growth in Amplitude Surgical’s activity was +2.9%. France now accounts for 59% of total revenues versus 62% over last financial year;
  • regarding international activity, the +11.1% growth at constant currency is driven by the Group’s international subsidiaries, which grew by +21.6% at constant currency and thus accounted for 82% of international sales. The more cyclical distributors’ activity was affected by a high base effect (+42.6% in Q1 2016-17);
  • Amplitude Surgical’s direct activity, i.e. its domestic market and international subsidiaries, which accounted for almost 93% of total Group sales, grew by +9% at constant currency.
  • Novastep is continuing its rapid development. After almost doubling its sales in Q1 2016-17, in the first quarter of 2017-18 sales totaled €1.3 million, or 7.2% of total Group sales. The +14.6% increase at constant currency was notably driven by the United States, where quarterly sales were up +28.6% at $0.7 million.

Recent events

  • In the United States, Amplitude Surgical completed the recruitment of a Director of Sales, Mark Johnson. Mark joined the Company in late October with over 15 years of experience on the American market with ZimmerBiomet, the aim being to put together his team to commercialize the Group’s hip and knee implants to US surgeons.

Upon taking on his new role, Mark Johnson said: “I am delighted to be joining Amplitude Surgical’s momentum to steer its ambition in the large American market. The substantial interest shown by my many contacts in Amplitude Surgical’s portfolio is promising for our sales development in this territory.

Next financial press release: H1 2017-18 sales, on Thursday February 22, 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, 2017, Amplitude Surgical had a workforce of nearly 370 employees and recorded sales of over 93 million euros.

Contacts

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

Contacts

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