STENTYS: Financial Information for the First Half of 2018

  • Consolidated revenues for the first half of 2018: €3.6 million
  • Consolidated cash position at June 30, 2018: €11.8 million

PARIS--()--Regulatory News:

STENTYS (Paris:STNT) (FR0010949404 — STNT), a French group specialized in medical technologies for interventional cardiology, today reports its consolidated revenues and cash position at June 30, 2018.

Christophe Lottin, Chief Executive Officer of STENTYS, comments:The second quarter of 2018 notably saw the completion of the acquisition of MINVASYS that enables us to enhance our product range, address new markets and strengthen our commercial presence in over 60 countries. The decrease in our revenues over this period reflects both the gradual integration of this acquisition that requires the harmonization, notably regulatory and legal, of the joint sales offer and the adjustment of the sales teams to the new products. The current context, becoming very competitive, illustrates the pertinence of the MINVASYS acquisition by incorporating a comprehensive range of products that complement the Xposition S stent. Regarding the second half of the year, we remain confident following the very positive feedback received from our different partners that we were able to meet during our two companies’ first joint presentation at the world EuroPCR forum on interventional cardiovascular medicine in Paris in May. This event was a success and allowed us to present our new global offer.”

Second-quarter and first-half revenues

€ thousands   H1 2018   H1 2017   % change   Q2 2018   Q2 2017   % change

Europe1

  2,160   2,401   -10%   1,285   1,145   +12%
Rest of the world   1,480   1,147   +29%   1,016   565   +80%
Total revenues   3,640   3,549   +3%   2,301   1,710   +35%

Audited data

In the second quarter of 2018, STENTYS completed the acquisition of MINVASYS, whose activity was consolidated from

May 1, 2018. Subsequently, over the quarter, the Group recorded revenues of €2.3 million, an increase of 35% compared with the second quarter of 2017.

Second-quarter and first-half revenues (pro forma)2

€ thousands   H1 2018   H1 2017   % change   Q2 2018   Q2 2017   % change
Europe1   2,941   3,356   -12%   1,466   1,699   -14%
Rest of the world   2,567   2,784   -8%   1,219   1,332   -8%
Total revenues   5,508   6,140   -10%   2,685   3,031   -11%

Unaudited data

Over the first six months of 2018, the Group’s pro forma revenues2 totaled €5.5 million, down 10% compared with the first half of 2017.

The Xposition S stent continued its growth in volume (5% over the second quarter of 2018), resulting in growth of 1.6% in value despite a context of strong price pressure.

Moreover, it is worth noting the excellent performance of the new range of sales of coronary dilation balloons, incorporated within the STENTYS offer following the acquisition of MINVASYS of which sales grew by 38% (pro forma figures2).

However, the quarter was impacted by a sharp decline of activity in the thrombo-aspiration catheters and accessories ranges.

Solid cash position of €11.8 million

The Group had a cash position of €11.8 million at June 30, 2018 compared with €18 million at March 31, 2018. This decrease was essentially a result of the €6.5 million cash disbursed for the acquisition of MINVASYS.

Upcoming financial publication

Results for the first half of 2018 on Friday September 28, 2018 after market close

About STENTYS

STENTYS develops and markets minimally-invasive cardiovascular solutions for the needs of interventional cardiology. Its extensive range of innovative products, including drug-eluting stents, coronary and drug-eluting balloons as well as cardiovascular accessories, is marketed in over 60 countries. Thanks to its flagship product, Xposition S, the self-apposing stent that adapts to vessels with variable diameters and enables the treatment of complex arterial disorders, and to its portfolio of balloons and accessories, STENTYS covers all coronary indications.

Additional information is available at www.stentys.com

STENTYS is listed on Compartment C of Euronext Paris
ISIN: FR0010949404 – Ticker: STNT

Forward-looking Statements

This press release contains forward-looking statements about the Company that are based on numerous assumptions regarding the Company’s present and future business strategies and the environment in which it will operate in the future which may not be accurate. Such forward-looking statements involve known and unknown risks which may cause the Company’s actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, among others, risks associated with the development and commercialization of the Company’s products, market acceptance of the Company’s products, its ability to manage growth, the competitive environment in relation to its business area and markets, its ability to enforce and protect its patents and proprietary rights, uncertainties related to the U.S. FDA approval process, slower than expected rates of patient recruitment for clinical trials, the outcome of clinical trials, and other factors, including those described in the Section 4 “Risk Factors” of the Company’s 2016 Registration Document (document de référence) filed with the French Autorité des Marchés Financiers (AMF) on November 29, 2017 under number D.17-1084.

1 Germany, Italy, Switzerland, Austria, Poland, The Netherlands, France, Belgium, United Kingdom, Spain, Greece, Portugal and Nordic countries.
2 Pro forma data not yet reviewed by the statutory auditors, presented in accordance with IFRS 15 (mandatory application) with no difference compared with IAS 18 applied in 2017. The acquisition of Minvasys by STENTYS was completed on April 30, 2018 and its activity consolidated from May 1, 2018. This data was calculated to provide a comparable vision of the Group’s activity as if the acquisition had been completed on January 1, 2017.

Contacts

STENTYS
André Lerebours, Tel.: +33 (0)1 44 53 99 42
CFO
investor@stentys.com
or
NewCap
Investor Relations / Strategic Communications
Dusan Oresansky / Alexia Faure
Tel.: +33 (0)1 44 71 94 92
stentys@newcap.eu

Contacts

STENTYS
André Lerebours, Tel.: +33 (0)1 44 53 99 42
CFO
investor@stentys.com
or
NewCap
Investor Relations / Strategic Communications
Dusan Oresansky / Alexia Faure
Tel.: +33 (0)1 44 71 94 92
stentys@newcap.eu