Spineway-2022 first quarter: Income increase by 55%

Ecully, April 15, 2022 GlobeNewswire

Continued growth in Q1 2022
Q1 2022 revenues up +55%

In thousands of euros2022*2021% Variation
Turnover Q11 342865+ 55%

Unaudited consolidated data

In line with the last quarter of 2021, Spineway confirms its growth momentum and totals revenues of €1.3 million for the first quarter of 2022, up 55% compared to the year 2021. The latter benefits from the synergies implemented with Distimp, the growth of sales in France and positive commercial orientation in Latin America.

Sales in Latin America showed strong growth of 31.1% compared to 2021 and represented 41.5% of Group sales (€558 k). Despite the continuing health crisis in the territory, the region is benefiting from a return to a more normalized situation in surgical activity, which has enabled the booking of significant orders.

The significant growth in the Europe region, which doubled compared to Q1 2021 to reach €427 k, was mainly driven by sales in France, which now represent 26.2% of Group sales at €351 k in Q1 2022, following the successful integration of Distimp.

Asia remained stable in Q1 2022 (€181 k), while the Middle East zone amounted to €176 k and increased significantly compared to Q1 2021, following the strengthening of the Group’s presence in North Africa.

On the basis of the upward trend at the beginning of 2022, Spineway confirms the recovery of its business and reinforces its ambition to become a leading European player in spine surgery with Premium positioning.

General Meeting of April 11, 2022

The Annual Ordinary and Extraordinary General Meeting of Spineway was held on second call on Monday, April 11, 2022 at 2:00 p.m. at the Group’s headquarters.

The number of shares held by the two shareholders present or represented was 1,399,425, representing a participation rate of 0.0086%. All resolutions presented to the Ordinary General Meeting were adopted, but the resolutions presented as extraordinary resolutions could not be put to the vote due to a lack of quorum.

Consequently, Spineway’s shareholders will again be convened to the Extraordinary Shareholders’ Meeting on May 18, 2022, at the Group’s headquarters, 7 allée Moulin Berger in Ecully (69), in order to deliberate on the same agenda (extraordinary section) as that appearing in the notice of meeting published in the BALO on 16 February 2022.

In accordance with the provisions of Articles R. 225-77 and R. 225-79 of the French Commercial Code, postal voting forms sent to the Company and proxies given for the Combined General Meeting of March 23, 2022 on the first notice of meeting or for the Combined General Meeting of April 11, 2022 on the second notice of meeting, shall remain valid for the Extraordinary General Meeting convened on the third notice of meeting on the same agenda, provided that the shares are still registered in the accounts. The text of the resolutions remains unchanged.

All the documents and information provided for in Article R.225-73-1 of the French Commercial Code may be consulted on the company’s website, under the heading “Investors/Regulated Information”:

Find out all about Spineway

This press release has been prepared in both English and French. In case of discrepancies, the French version shall prevail.

Spineway designs, manufactures and markets innovative implants and surgical instruments for treating severe disorders of the spinal column.
Spineway has an international network of over 50 independent distributors and 90% of its revenue comes from exports.
Spineway, which is eligible for investment through FCPIs (French unit trusts specializing in innovation), has received the OSEO Excellence award since 2011 and has won the Deloitte Fast 50 award (2011). Rhône Alpes INPI Patent Innovation award (2013) – INPI Talent award (2015).
ISIN: FR0011398874 – ALSPW



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Josh Sandberg

Josh Sandberg is the President and CEO of Ortho Spine Partners and sits on several company and industry related Boards. He also is the Creator and Editor of OrthoSpineNews.

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