Amplitude Surgical – First Quarter 2022-23: Consolidated Sales of €19.4 Million, +11.3% at Constant Exchange Rates

• Consolidated sales after application of IFRS 5: €19.4m, +11.3% at constant exchange rates
• Sales before application of IFRS 5 (including foot and ankle activities): €23.9 million, +14.1% at constant exchange rates
• Further growth in foot and ankle activities (Novastep): +28.8% at constant exchange rates

VALENCE, France--(BUSINESS WIRE)--Regulatory News:

Amplitude Surgical (ISIN: FR0012789667, Ticker: AMPLI, eligible for PEA-PME equity savings plans) (Paris:AMPLI), a leading French player on the surgical technology market for lower-limb orthopedics, announces its sales for the first quarter of its 2022-23 financial year.

Olivier Jallabert, Amplitude Surgical’s CEO, said: “In the first quarter of our 2022-23 financial year, Amplitude Surgical recorded an increase in Group sales before application of IFRS 5 of 14.1%, benefiting from operating room availability returning to almost normal levels, which wasn’t the case in the first quarter of last year. Knee and hip activities generated growth of 11.3% at constant exchange rates. Novastep, meanwhile, continued its expansion and accounted for approximately 18.8% of Group sales before application of IFRS 5, with growth of almost 29% over the period”.

Q1 2022-23 sales	30/09/2022	30/09/2021	Change at current exchange rates	Change at constant exchange rates
In thousands of euros - IFRS
Knee and hip activity	19,406	17,037	13.9%	11.3%
Consolidated sales after application of IFRS 5	19,406	17,037	13.9%	11.3%
Foot and ankle activity (Novastep)	4,480	3,151	42.2%	28.8%
Sales before application of IFRS 5	23,886	20,188	18.3%	14.1%

For its consolidated annual accounts to June 30, 2022, the Group applied IFRS 5 by classifying foot and ankle activities as “Non-current assets held for sale”. The Group’s consolidated sales for the first quarter of 2022-23 thus correspond solely to knee and hip activities. To provide a global view of the Group’s activities, sales before application of IFRS 5 and including foot and ankle activities are indicated in the table above.

Over the first quarter of its 2022-23 financial year (July-September 2022), Amplitude Surgical recorded sales before application of IFRS 5 of €23.9 million, up 18.3% in actual terms and 14.1% at constant exchange rates.

• Knee and hip activity generated sales of €19.4 million, up 13.9% in actual terms and 11.3% at constant exchange rates. Activity in France increased by 12.2%, while international distributors generated growth of 15.3% and the Group’s international subsidiaries saw activity increase by 18.1% in actual terms and 7.9% at constant exchange rates. The first quarter of the previous year (2021-22) saw lower operating room availability and the postponement of surgical procedures, while this year operating room availability was virtually normal last quarter.

Knee and hip activity sales represent the Group’s consolidated sales after application of IFRS 5.

• Novastep, innovative solutions for foot and ankle surgery, generated further strong growth in the first quarter, with sales totaling €4.5 million (+28.8% at constant exchange rates), driven by activity in both France and the United States. Novastep’s activity thus accounted for 18.8% of total Group sales before application of IFRS 5.

Next financial press release:

H1 2022-23 sales, on Thursday February 23, 2023, 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, 2022, Amplitude Surgical had a workforce of 460 employees and recorded sales of nearly 104.8 million euros (including foot and ankle activity and before application of IFRS 5).