Amplitude Surgical – H1 2019-20: Sales up 5.7% at Constant Exchange Rates
20 Février 2020 - 6:00PM
Business Wire
- Consolidated sales of €49.8 million, +5.7% at constant exchange
rates
- Further expansion in international business, +13.9% at constant
exchange rates
- Strong growth in Novastep’s activity: +36.2% at constant
exchange rates
- Cash and cash equivalents of €19.2 million at December 31,
2019
- Amplitude wins its dispute with URSSAF for the period to June
30, 2014
Regulatory News:
Amplitude Surgical (ISIN: FR0012789667, Ticker: AMPLI, eligible
for PEA-PME plans) (Paris:AMPLI) (“Amplitude” or the
“Group”), a leading player on the global surgical technology
market for lower-limb orthopedics, announces its sales for the
first half of its 2019-20 financial year.
Olivier Jallabert, Chairman and CEO of Amplitude
Surgical, states: “In the first half of our 2019-20 financial
year, Amplitude Surgical recorded further growth of 5.7% at
constant exchange rates, driven by the excellent performance of
both the international business generated by the Group’s
subsidiaries and the business recorded by its distributors.
Novastep is continuing to ramp-up and now accounts for 10% of total
Group sales, with growth of close to 98% in the United States. The
Group’s financial structure remains solid with cash and cash
equivalents of more than €19 million, bolstering our deleveraging
objectives. These good first-half performances enable us to
reaffirm our 2019-20 annual targets.”
H1 2019-20
sales
6 months to 31/12/2019
6 months to 31/12/2018
Change at current
exchange rates
Change at constant exchange
rates
In €k - IFRS
France
30,404
30,081
+1.1%
+1.1%
International
19,429
17,021
+14.2%
+13.9%
o/w subsidiaries
14,363
12,658
+13.5%
+13.2%
o/w distributors
5,066
4,363
+16.1%
+16.1%
Total
49,833
47,102
+5.8%
+5.7%
Q2 2019-20
sales
3 months to 31/12/2019
3 months to 31/12/2018
Change at current exchange
rates
Change at constant exchange
rates
In €k - IFRS
France
18,313
18,439
-0.7%
-0.7%
International
10,684
9,126
+17.1%
+16.6%
o/w subsidiaries
7,549
6,780
+11.3%
+10.7%
o/w distributors
3,136
2,346
+33.7%
+33.7%
Total
28,997
27,565
+5.2%
+4.8%
In the first half of its 2019-20 financial year (July to
December 2019), Amplitude Surgical recorded sales of €49.8 million,
up 5.8% and 5.7% at constant exchange rates.
- On the French market, Amplitude Surgical recorded a 1.1%
increase in first-half sales to €30.4 million. France accounted for
61% of total sales;
- The Group’s international activity generated sales of
€19.4 million, up 14.2% and 13.9% at constant exchange rates,
driven by the performances of both its subsidiaries and its
distributors. The Group’s subsidiaries recorded sales growth of
13.2% to €14.4 million, notably thanks to the contribution of
Brazil, South Africa and the United States for Novastep’s business.
Distributors also recorded strong growth of 16.1% to €5.1
million;
- Amplitude Surgical’s direct business (French market and
international subsidiaries), which accounted for close to 90% of
total Group sales, grew by 4.7% at constant exchange rates;
- The sales generated by Novastep, innovative solutions
for foot and ankle surgery, saw further buoyant growth in the first
half and totaled €4.8 million (+36.2% at constant exchange rates),
driven by the United States (+98.0% at constant exchange rates).
The proportion of sales generated abroad was over 62%, and Novastep
now accounts for 10% of total Group sales.
Moreover, Amplitude Surgical has maintained a solid financial
structure with, at end-December 2019, cash and cash equivalents of
close to €19.2 million, vs. €19.6 million at end-June 2019.
Recent events
Amplitude wins its dispute with URSSAF for the period to June
30, 2014
Following the decisions of the Cour de Cassation on November 29,
2018, the Valence High Court on October 10, 2019 and the Grenoble
Court of Appeal on October 29, 2019, as well as the URSSAF letter
of November 7, 2019 indicating its decision not to appeal these
decisions, Amplitude Surgical has won its dispute with URSSAF for
the period to June 30, 2014.
The accounting consequence of this decision in H1 2019-20
accounts will be the €8.6 million partial reversal of the provision
that totaled €19.0 million at June 30, 2019.
Next press release:
H1 2019-20 results, on Wednesday March 25, 2020, 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, 2019, Amplitude Surgical had a workforce of 436 employees
and recorded sales of c.103 million euros.
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version on businesswire.com: https://www.businesswire.com/news/home/20200220005602/en/
Amplitude Surgical Dimitri Borchtch CFO
finances@amplitude-surgical.com +33 (0)4 75 41 87 41
NewCap Investor Relations Théodora Xu amplitude@newcap.eu
+33 (0)1 44 71 20 42
NewCap Media Relations Nicolas Merigeau
amplitude@newcap.eu +33 (0)1 44 71 98 55
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