Spineway-Improvement of the activity: significant increase of 1st 2022 semester turnover

Ecully, July 13^th 2022 –

Revenue for the first half 2022 : + 65%

• Acceleration of sales over the 2^nd quarter (+74%)

• Higher activity level than before the health crisis
• Very good performances in France and Latin America

* Non audited figures
** Non audited pro forma 2021 revenue including, for comparison, Distimp from January 1^st, 2021, while the company was acquired on June 25^th, 2021.

Committed to a growth trajectory, Spineway saw its sales accelerate over the 2^nd quarter 2022 to total turnover of 1,8 M€, an increase of 74% compared to last year, despite a still fragile and uneven context of recovery in the areas where it operates. This performance brings revenue for the first half 2022 to 3,1M€ (+65% compared to S1 2021). This allows the Group to exceed the turnover of the 1st half 2019 (before the crisis) by 19%, which amounted to 2,6 M€.

Latin America, the Group’s historic region, remains predominant with a revenue of 1,5 M€ and sales rising up to 72% in the first half 2022.

The Europe zone, up 106% compared to S1 2021 with a revenue of 0,9 M€, fully benefits from the synergies put in place with Distimp, particularly in France, which is now the Group’s second zone.

During the 2^nd quarter 2022, the Group also benefited from good results in the Middle East area (+96%) and achieved in S1 2022 a turnover of 0,4 M€ in this zone, up by +171%. compared to 2021.

A dynamic semester driving growth

Over the semester, the Group was able to highlight the products resulting from the integration of the Distimp ⁽¹⁾ company, which complement the existing Spineway ranges. These new ranges now represent 22% of the Group’s turnover, although they have not yet been deployed on all territories. The historic Mont-Blanc and Mont-Blanc MIS ranges contribute at 57% of Group sales in the first half 2022.

This good commercial performance confirms the relevance of the Group’s positioning, which is returning to its best sales levels. Confirmed in its strategy, combining organic growth and targeted external growth, Spineway will continue its development in order to position itself as a European benchmark player in the spine sector.

Upcoming : July 25th 2022, Extraordinary General Meeting

SPINEWAY IS ELIGIBLE FOR THE PEA-PME (EQUITY SAVINGS PLANS FOR SMES)
Find out all about Spineway at www.spineway.com

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        

Contacts :

Presence at the SFCR (French Society of Spinal Surgery) – Press release of June 24th, 2022