Amplitude Surgical: Further Solid Momentum in Q3, 9-Month Sales of €74M, +6% and +8% at Constant Currency

  • France: €47 million, +7%, further market share gains
  • International: €26 million, +10% at constant currency, of which Subsidiaries: €20 million, +16% at constant currency

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, announces its sales for the third quarter of its 2017-18 financial year.

Olivier Jallabert, Chairman and CEO of Amplitude Surgical, says: “Within the context of the continuation of our solid momentum on all markets, our commercial strengthening – notably in France and the United States – will continue to drive the Group’s growth. Moreover, the acquisition of the remaining shares in SOFAB Orthopedie, a long-standing and strategic industrial subcontractor, will consolidate our industrial base and our supply chain in this context of the continuous development of our activities”.

Q3 2017-18 sales

  31/03/2018   31/03/2017   Δ actual  

Δ constant
currency*

€ thousands - IFRS        
France   19,394   18,338   5.8%   5.8%
International   9,539   8,947   6.6%   13.6%
of which: Subsidiaries   6,708   6,510  

3.0%

  12.5%
of which: Distributors   2,831   2,437   16.2%   16.5%
Total   28,934   27,285  

6.0%

 

8.3%

9M 2017-18 sales   31/03/2018   31/03/2017   Δ actual  

Δ constant
currency *

€ thousands - IFRS        
France   47,413   44,261   7.1%   7.1%
International   26,142   24,907   5.0%   10.0%
of which: Subsidiaries   19,516   17,980   8.5%   15.5%
of which: Distributors   6,626   6,927   -4.3%   -4.2%
Total   73,555   69,168   6.3%   8.2%

(*) Changes at constant currency are determined by applying year Y-1 exchange rates to year Y sales

Over the first 9 months of its 2017-18 financial year (to end-March 2018), Amplitude Surgical recorded sales of €73.6 million, up +6.3% in actual terms and +8.2% at constant currency, despite a high comparative base (growth of 15.8% at constant currency over the first 9 months of 2016-17). The solid growth observed at the start of the year continued at a similar pace in the 3rd quarter, +6% actual and +8.3% constant currency.

  • In France: Amplitude Surgical continued to increase its market shares. Sales for the 9 months to end-March totaled €47.4 million, an increase of +7.1%. You are reminded that, on the initiative of the Health Ministry’s Economic Committee for Healthcare Products (CEPS), a 3.5% price reduction has been applied to all implants in August 2017.
  • The Group’s International activity (comments at constant currency) also recorded strong growth, +10% at end-March, notably driven by a very good 3rd quarter performance, +13.6%. Globally, growth is being driven by the Group’s subsidiaries, both in Europe and the Rest of the World, which saw 9-month sales increase by 15.5% to €19.5 million. At the end of March, these subsidiaries accounted for 75% of international sales. Sales achieved through distributors continued to fall, -4.2% over the first 9 months, despite a +16.5% rally in the 3rd quarter.

    Amplitude Surgical’s direct activity - the French market and international subsidiaries - recorded growth of nearly 10% at constant currency and accounted for more than 90% of total Group sales at end-March.
  • Novastep, the range of products for foot and ankle surgery marketed since mid-2014, continued to record significant growth in activity, notably in France: +30% to €2.3 million over the first 9 months of the year. Thus, at the end of March, Novastep’s sales totaled €5.2 million and accounted for 7% of total Group activity.

Recent events

Having acquired an initial 50% stake in September 2016, Amplitude Surgical has just doubled this stake in SOFAB Orthopédie - a long-standing and strategic industrial subcontractor specializing in the end-to-end manufacturing of implants, from computer numerically controlled machining to polishing, engraving and laser welding - to 100%.

Next financial press release: 2017-18 annual sales, on Thursday July 26, 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