LYON, France–(BUSINESS WIRE)–The MEDICREA Group (listed on Alternext by NYSE Euronext Paris) (Paris:ALMED), a specialist in the development of innovative surgical technologies for the treatment of spinal disorders, is publishing its 2010 sales.
“Strong and steady sales growth, along with constantly improving margins thanks to volume, will result in positive operating income in 2011”
RECORD SALES IN 2010
- Sales of €18.2 million, up 39% from 2009
- Record invoicing, with €5.7 million in the fourth quarter
- Eighth consecutive half year of sales growth of over 30%
- 50% of business now done in the United States
| Sales in € million | 2009 | 2010 | Variation | |||
| 1st semester | 6.1 | 7.9 | + 30 % | |||
| 2nd semester | 7.0 | 10.3 | + 47 % | |||
| Total | 13.1 | 18.2 | + 39 % |
Sales bounced by nearly 50 % in the second half of the year resulting mainly from the activity of the Group’s three distribution subsidiaries selling directly to hospitals and clinics. MEDICREA USA, MEDICREA EUROPE FRANCOPHONE, and MEDICREA UK now contribute 75% of consolidated sales.
Sales of MEDICREA USA in 2010 were close to $12 million, up nearly 50%. MEDICREA USA is raising its profile on the world’s largest spinal market through its growing network of spine-surgery professionals.
The various implant systems that make up the PASS LP® technological platform account for nearly 75% of Group sales. The product portfolio expanded in 2010, with the launch of the Granvia® C cervical-disc prosthesis, the fruit of MEDICREA’s research and development. Surgeons have given this innovation a warm welcome. So far, 250 patients have benefitted from the treatment with this technology, which positions the Group in the cervical-disc segment, where it was absent until now. Even though it was not officially presented to European markets until the fourth quarter, the Granvia® C contributed 5% of 2010 Group sales.
Denys Sournac, CEO of MEDICREA, stated that “the year 2010 was undoubtedly a turning point in the Group’s development. We reached and surpassed our breakeven point – currently estimated at €1.7 million in sales per month – on several occasions, particularly in the second half. The year ended with a record quarter for invoicing, and for the first time since our IPO, we should generate a positive operating income for this period.”
OUTLOOK FOR 2011
Given the growth momentum now firmly established and the new-product launches planned for 2011, Group sales should continue to grow at a level at least equal to that of 2010.
“Strong and steady sales growth, along with constantly improving margins thanks to volume, will result in positive operating income in 2011,” commented Denys Sournac.
COMING UP
2011 first quarter sales and 2010 annual results will be published on April 14th, 2011, after market close.
ABOUT MEDICREA
MEDICREA specializes in the design, development, manufacture and distribution of orthopedic implants dedicated to spinal surgery. In an $9 billion market, MEDICREA is a very dynamic small to medium-sized business of 100 employees with unique innovation capabilities. MEDICREA enjoys an excellent reputation and develops unique relationships with the most visionary and creative spine surgeons in France, the U.K., and the U.S.A. Products developed and patented by MEDICREA provide neuro-surgeons and orthopedic surgeons specialized in spine with new and less-invasive surgical solutions, which are faster and easier to implement than traditional techniques.
The Group operates from its headquarters based in Lyon, France with a manufacturing facility located in La Rochelle, France and three distribution subsidiaries in the U.S.A, U.K., and France.
ISIN code: FR 0004178572
MNEMO code: ALMED
For more information, visit www.medicrea.com
