Safe Orthopaedics closes 2019 with its best quarterly performance: 1 502 K€, an increase of 52%
13 Janvier 2020 - 6:53PM
Business Wire
► Annual turnover of 4,7 M€, an increase of 35%
► Transforming Japanese partnership, 102% growth on indirect
sales
Regulatory News:
Safe Orthopaedics (Paris:ALSAF) (FR0012452746 – ALSAF), a
company specializing in the design and marketing of single-use
implants and instruments for the minimally invasive treatment of
spinal fracture conditions, is today announcing its 2019 fourth
quarter turnover, 2019 annual turnover and cash position.
In thousands of euros
2019
(12 months)
2018
(12 months)
Variation
Direct sales (FR, Ger, UK)
2 024
2 134
-5%
Indirect sales
2 677
1 337
+102%
Total revenues
4 702
3 471
+35%
In 2019, Safe Orthopaedics turnover was 4 702 K€, an increase of
+35% compared to the year 2018, driven by indirect sales forces and
mainly the Japanese partnership. The reduction of annual direct
sales by 5% is only recognized on French market. The management had
announced in September 27th, 2019, a restructuration and
reinforcement of sales and marketing forces, in order to
reinvigorate the sales by means of a different commercial approach
and the renewal of SteriSpine PS range.
In thousands of euros
Q1 2019
(3 months)
Q2 2019
(3 months)
Q3 2019
(3 months)
Q4 2019
(3 months)
Direct sales (FR, Ger, UK)
551 (+6%)
458 (-2%)
483 (-7%)
532 (-16%)
Indirect sales
527 (+32%)
506 (+90%)
675 (+123%)
969 (+171%)
Total revenues
1 078 (+16%)
964 (+32%)
1 158 (+41%)
1 502 (+52%)
2019 fourth quarter turnover for the company was the best
quarterly performance of the year, with a turnover of 1 502 K€, an
increase of +52% compared to 2018 fourth quarter turnover.
In 2019, the quarterly growth of the company is between +16% and
+52%. The management pursues the commercial structuration,
necessary for this strategical segment, thanks to the deployment of
the next generation of SteriSpine PS, a clear winner with the
surgeons (see press release of October 16th, 2019).
In France, direct sales fell slightly and amount to 393k€. The
continuing reorganization of the team initiated in 2018, the new
generation of SteriSpine PS and the launching of new technologies
on the first quarter of 2020 should revive growth. In Germany,
annual sales reach 96k€ with a strong growth during the fourth
quarter, which sees sales increasing threefold compared to the
fourth quarter of 2018. In the United Kingdom, the growth of direct
sales during the fourth quarter allowed to ensure a 13% growth
compared to the fourth quarter of 2018, with annual sales amounting
to 297k€, an increase of 62% that contributes significantly to the
gross margin of the company.
Indirect sales are growing rapidly thanks to the strategical
Japanese partnership and some historical distributors. Sales amount
to 969k€ for the fourth quarter, an increase of 171% compared to
2018. The launching of SteriSpine PS at international level should
maintain a double-digit growth in 2020.
In thousands of euros
Q4 2019
(3 months)
Q4 2018
(3 months)
Variation
Direct sales (FR, Ger, UK)
532
631
-16%
Indirect sales
969
358
+171%
Total revenues
1 502
988
+52%
“2019 was again a constructive year for Safe Orthopaedics, with
the reinforcement of its financial resources that cover the cash
requirements of the company until 2022, the release of the new
generation of SteriSpine PS, the realization of the sales related
to the Japanese partnership agreed in 2018 and the change in
governance through the nomination of new board members announced on
November 26th,” explained Pierre Dumouchel, CEO and co-founder
of Safe Orthopaedics. “Through a higher pace of new
technologies, a new commercial approach for the 3 countries on
direct sales, partnerships on markets with strong potential (Japan,
US…), Safe Orthopaedics will maintain growth rates in 2020 at least
equivalent to the strong performance of 2019. Finally, the company
is today reflecting of innovative solutions for commercialization
and production in order to achieve financial equilibrium quicker
and reduce the dilution of each shareholder.”
Cash position
As of today, Safe Orthopaedics’ cash position amounts to 575
k€.
Financial calendar
- Publication of 2019 annual results (URD + PR): April, 28
2020
- Publication of Q2 revenues: July 9, 2020
- Publication of S1 results: September 28, 2020
- Publication of Q3 revenues: October 8, 2020
- Publication of S2 revenues: January 14, 2021
About Safe Orthopaedics
Founded in 2010, Safe Orthopaedics, is a French medical
technology company that offers the safest technologies to treat
spinal fractures. Delivered sterile, all implants and respective
disposable instrumentation are available to the surgeon at any
time, anywhere. These technologies enable minimally invasive
approaches, reducing risks of cross contamination and infection in
the interest of the patient. Protected by 17 patent families,
SteriSpineTM kits are CE marked and FDA cleared. The company is
based in Eragny-sur-Oise (95) and has 45 employees.
For more information : www.SafeOrthopaedics.com
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version on businesswire.com: https://www.businesswire.com/news/home/20200113005791/en/
Safe Orthopaedics François-Henri Reynaud Chief Financial
and Administrative Officer Phone : +33 (0)1 34 21 50 00
investors@safeorthopaedics.com
Investor Relations NewCap Mathilde Bohin Phone:
+33 (0)1 44 71 94 94 / SafeOrtho@newcap.eu
Media Relations Ulysse Communication Bruno Arabian
/ +33 (0)6 87 88 47 26 / barabian@ulysse-communication.com Nicolas
Daniels / +33 (0)6 63 66 59 22 /
ndaniels@ulysse-communication.com
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