Financial

Amplitude Surgical – First quarter 2021-22: Sales of €20.2 million, -7.1% at constant exchange rates

  • Consolidated sales of €20.2 million, -7.1% at constant exchange rates
  • Sales from knee and hip activity down -11.8% at constant exchange rates
  • Further growth in Novastep activity: +30.8% at constant exchange rates

November 18, 2021

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

Amplitude Surgical (ISIN: FR0012789667, Ticker: AMPLI, eligible for PEA-PME 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 2021-22 financial year.

Olivier Jallabert, Amplitude Surgical’s CEO, commented: “In the first quarter of our 2021-22 financial year, Amplitude Surgical recorded a 7.1% decrease in sales, impacted by the level of knee and hip sales in France. Over the same period last year, activity benefited from a catch-up effect following the first wave of the COVID-19 pandemic, which wasn’t the case in 2021-22. On the contrary, we have seen lower operating room availability and a tendency by patients to postpone surgical procedures. Novastep, meanwhile, has continued its expansion, now accounting for approximately 15.6% of Group sales with growth of close to 31% over the period”.

Q1 2021-22 sales30/09/202130/09/2020Change at current
exchange rates
Change at constant
exchange rates
In thousands of euros – IFRS
Knee and hip activity17,03719,180-11.2%-11.8%
Feet and ankles (Novastep)3,1512,40331.1%30.8%
Total20,18821,583-6.5%-7.1%
Q1 2021-22 sales30/09/202130/09/2020Change at current
exchange rates
Change at constant
exchange rates
In thousands of euros – IFRS
France12,26114,147-13.3%-13.3%
International7,9287,4366.6%4.7%
o/w subsidiaries6,2755,51913.7%11.2%
o/w distributors1,6521,917-13.8%-13.8%
Total20,18821,583-6.5%-7.1%

Over the first quarter of its 2021-22 financial year (July-September 2021), Amplitude Surgical recorded sales of €20.2 million, down 6.5% in actual terms and -7.1% at constant exchange rates.

  • Knee and hip activity saw sales fall by 11.2% in actual terms and -11.8% at constant exchange rates. This decrease in activity corresponds primarily to the French market, with activity in the first quarter of 2020-21 having benefited from a catch-up effect in terms of surgical procedures following the first wave of the COVID-19 pandemic, which wasn’t the case this year. On the contrary, the first quarter of 2021-22 saw lower operating room availability and patients opting to postpone their surgical procedures.
  • Novastep, innovative solutions for foot and ankle surgery, recorded strong growth in the first quarter, with sales totaling €3.2 million (+30.8% at constant exchange rates), driven by the United States. Novastep’s activity thus accounted for 15.6% of total Group sales.
  • On the French market, across all segments, Amplitude Surgical’s activity was down by 13.3% last quarter, with sales totaling €12.3 million and accounting for 60.7% of total Group sales. This decrease in activity corresponds primarily to the impact of the knee and hip segments.
  • The Group’s international activity generated sales of €7.9 million, up 6.6% in actual terms and +4.7% at constant exchange rates thanks to the Group’s international subsidiaries. The Group’s subsidiaries recorded sales growth of 11.2% at constant exchange rates to €6.3 million thanks to the strong improvement in Novastep activity in the United States. Activity with the Group’s distributors was down 13.8% to €1.7 million;
  • Amplitude Surgical’s direct activity (French market and international subsidiaries), which accounted for close to 92% of the Group’s total sales, recorded a decrease of 6.5% at constant exchange rates.

Next financial press release

H1 2021-22 sales, on Thursday February 17, 2022, 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, 2021, Amplitude Surgical had a workforce of 443 employees and recorded sales of nearly 95.5 million euros.

Contacts

Amplitude Surgical
Dimitri Borchtch
CFO
finances@amplitude-surgical.com
+33 (0)4 75 41 87 41

NewCap
Investor Relations
Mathilde Bohin/Thomas Grojean
amplitude@newcap.eu
+33 (0)1 44 71 94 94

NewCap
Media Relations
Nicolas Merigeau
amplitude@newcap.eu
+33 (0)1 44 71 94 98

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Chris J. Stewart

Chris currently serves as President and CEO of Surgio Health. Chris has close to 20 years of healthcare management experience, with an infinity to improve healthcare delivery through the development and implementation of innovative solutions that result in improved efficiencies, reduction of unnecessary financial & clinical variation, and help achieve better patient outcomes. Previously, Chris was assistant vice president and business unit leader for HPG/HCA. He has presented at numerous healthcare forums on topics that include disruptive innovation, physician engagement, shifting reimbursement models, cost per clinical episode and the future of supply chain delivery.

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