SuperSonic Imagine Reports Revenue Growth of 6% in H1 2019

  • Offer from the Hologic group to acquire 100% of the Company’s capital for a price of 1.50 euros per share
  • Momentary decline in revenues in Q2 (-6%) following the announcement of the Hologic group's offer, which led to postponements of orders
  • Further very buoyant growth in China in H1 2019 (+42%)

AIX-EN-PROVENCE, France--()--Regulatory News:

SuperSonic Imagine (Paris:SSI) (Euronext: SSI, FR0010526814, PEA-PME eligible), a company specialized in ultrasound medical imaging (ultrasound), today announces its revenue for the first half of 2019.

Michèle Lesieur, Chief Executive Officer of SuperSonic Imagine, comments: “The second quarter was marked by the offer received by the Hologic group with a view to acquiring 100% of SuperSonic Imagine’s capital for a price of 1.50 euros per share. This contemplated acquisition of Supersonic Imagine by Hologic meets all our strategic objectives, and would allow us to develop the Ultrasound activity within a group that shares our values. From an operational standpoint, China is continuing to drive SuperSonic Imagine’s growth with a further very buoyant increase in sales, while the United States recorded a first half below expectations”.

In thousands of euros

2019

2018

Change (%)

Products

5,122

4,213

+22%

% of total sales

85%

84%

 

Services

916

817

+12%

% of total sales

15%

16%

 

1st quarter sales

6,038

5,030

+20%

Products

4,783

5,274

-9%

% of total sales

83%

86%

 

Services

972

877

+11%

% of total sales

17%

14%

 

2nd quarter sales

5,754

6,150

-6%

Products

9,905

9,487

+4%

% of total sales

84%

85%

 

Services

1,887

1,693

+11%

% of total sales

16%

15%

 

Other revenue

82

-

-

1st half revenue

11,874

11,180

+6%

Figures under audit

 

 

 

Revenue for the second quarter of 2019

During the second quarter of 2019, the Company generated sales of €5,754 thousand, down 6% compared with the second quarter of 2018. Commercial activity was directly impacted by the announcement of the Hologic group's offer, with many distributors postponing their orders.

Thus product sales fell by 9% to €4,783 thousand (vs. €5,274 thousand in Q2 2018). Services sales, which accounted for 17% of quarterly sales, continued their growth and totaled €972 thousand, compared with €877 thousand in Q2 2018, an increase of 11%.

Over the quarter, China generated a 40% increase in sales to €3.4 million, accounting for 59% of Group turnover. However, sales in France and the United States fell by 12% to €628 thousand and 35% to €520 thousand, respectively. This temporary decrease is due to the postponement of some orders and should be made up for in the next half of the year.

Revenue for the first half of 2019

Over the first six months of the year, SuperSonic Imagine recorded revenue of à €11,874 thousand, up 6% compared with the first half of 2018. Product sales totaled €9,905 thousand, up 4%, while Services sales increased by 11% to €1,887 thousand.

Semester after semester, China is maintaining a very high rate of growth (+42%), and accounts for more than a half of Group revenue. France saw a return to growth (+3%) following a transitional year in 2018 impacted by the marketing of the new Aixplorer MACH 30 platform, while the United States recorded a first half below expectations with sales falling 32%.

Globally, sales were up 30% in Asia but down 8% and 34% in the EMEA zone and the Americas respectively.

Within the framework of the public tender offer intended by Hologic, SuperSonic Imagine has decided, in agreement with the regulator, to bring forward the publication of its first-half by 31 July; publication was initially scheduled for 11th September 2019.

About SuperSonic Imagine
SuperSonic Imagine is a medical technology company (Medtech) specialized in ultrasound imaging. The company designs, develops and markets an ultrasound platform whose exclusive ultrafast technology (UltraFast™) has given rise to new imaging methods, which have now become standards in the non-invasive care path for the characterization of breast, liver or prostate diseases. The first innovative mode UltraFast™ is ShearWave® elastography (SWE™), which allows doctors to instantly visualize and analyze tissue hardness, which is critical information for the diagnosis of many pathologies. To date, more than 600 publications have validated the benefits of its technologies. The latest addition to the Aixplorer® range, Aixplorer MACH® 30 introduces a new generation of imaging UltraFast™ allowing the optimization of all innovative imaging modes: ShearWave PLUS, UltraFast Doppler, Angio PL.U.S, TriVu. With more than 2,300 ultrasound platforms installed worldwide, SuperSonic Imagine is present in more than 80 countries and its main markets are China, the United States and France. In 2018, the company generated revenues of €24.6 million. SuperSonic Imagine is a company listed on Euronext (symbol: SSI).
For more information, visit www.supersonicimagine.fr.

Contacts

FP2COM
Relations Médias - EU
Florence Portejoie
fportejoie@fp2com.fr
+33 6 07 76 82 83

NewCap
Investor Relations – EU
Thomas Grojean / Nicolas Merigeau
supersonicimagine@newcap.eu
+33 1 44 71 98 55

Contacts

FP2COM
Relations Médias - EU
Florence Portejoie
fportejoie@fp2com.fr
+33 6 07 76 82 83

NewCap
Investor Relations – EU
Thomas Grojean / Nicolas Merigeau
supersonicimagine@newcap.eu
+33 1 44 71 98 55