- The health crisis has impacted all regions of
activity
Regulatory News:
SuperSonic Imagine (Paris:SSI) (Euronext: SSI, FR0010526814,
PEA-PME eligible), a Company specializing in ultrasound medical
imaging, today announces its sales for the first half of 2020
Antoine Bara, General Manager of SuperSonic
Imagine, comments: “The first half of 2020 was marked by the
Covid-19 health crisis, the full impact of which was felt in the
second quarter of the year. The Company’s three key markets
recorded a decrease in their sales performance compared with last
year”.
In thousands of euros
2020
2019
Change (%)
Products
4,152
5,122
-19%
% of total sales
85%
85%
Services
733
916
-20%
% of total sales
15%
15%
Q1 sales
4,885
6,038
-19%
Products
2,572
4,783
-46%
% of total sales
82%
83%
Services
581
972
-40%
% of total sales
18%
17%
Q2 sales
3,153
5,754
-45%
Products
6,724
9,905
-32%
% of total sales
84%
84%
Services
1,314
1,887
-30%
% of total sales
16%
16%
H1 sales
8,038
11,792
-32%
Other revenue
680
82
-
Total H1 revenue
8,718
11,874
-27%
Data currently being audited
Q2 2020 sales
SuperSonic Imagine generated sales of €3,153 thousand in the
second quarter of 2020, down 45% on the second quarter of 2019.
Commercial activity was directly impacted by the public health
crisis associated with the COVID-19 pandemic.
Product sales were thus down 46%, at €2,572 thousand (vs. €4,783
thousand in the second quarter of 2019). Service sales, which
accounted for 18% of quarterly sales, were also down, at €581
thousand vs. €972 thousand in Q2 2019, a decrease of 40%.
Sales in China, SuperSonic Imagine’s main market, and France
were down 51% to €1.7 million and 5% to €599 thousand,
respectively. This temporary downturn is due to the impact of the
health crisis resulting from the COVID-19 pandemic.
The United States also recorded a fall in sales in the second
quarter, with no sales booked during the period. Following the
divestment of the US subsidiary SuperSonic Imagine Inc. to Hologic
Inc. at the end of 2019, the comparison is between the sale of
systems to Hologic Inc. in 2020 and sales of systems to American
end clients in 2019. Also, since the divestment Hologic Inc. now
records the Service sales generated in the United States.
H1 2020 sales
Over the first six months of the year, SuperSonic Imagine
recorded sales of €8,038 thousand, a decrease of 32% compared with
the first half of 2019. Product sales totaled €6,724 thousand, down
32%, and Service sales totaled €1,314 thousand, down 30%.
China, the United States and France recorded falls in H1 sales
of 48%, 25% and 28%, respectively.
Globally, sales in the Americas were down by 27% while the EMEA
and Asia zones recorded falls of 31% and 33%, respectively.
Other revenue, which totaled €680 thousand, essentially includes
€654 thousand in management fees billed to Hologic Inc. and €26
thousand in revenue resulting from an industrial partnership
contract signed in 2018.
2020 outlook
At the current time, it is difficult to accurately quantify the
impact the COVID-19 pandemic will have on the Group’s 2020 annual
activity.
The Group has seen a decrease in activity on its three key
markets in France, China and the United States.
Regarding the supply chain, supplier delivery delays were
observed at the height of the lockdown period in March and April.
The trend is towards a reduction in these delivery delays, although
we cannot rule out another deterioration in the COVID-19 situation
that could lead to lockdown measures being applied again in some
regions of the world. Should this happen, this could result in
further supply delivery delays over the coming weeks.
Regarding the ability to deliver, to date logistics flows remain
active, although transit times may be increased by a few days and
prices pushed up on certain routes (some lines have seen their
tariffs double or triple as a result of the decrease in air freight
cargo capacity). This is a rapidly evolving situation that is being
monitored on a daily basis by SuperSonic Imagine’s Supplies and
Logistics teams, in liaison with the suppliers concerned.
The SuperSonic Imagine group’s cash position (strengthened by
the revolving loan concluded between Hologic Hub Ltd and the
Company for a maximum cumulative amount of €67 million) should
enable the Group to be in a position to deal with the uncertainties
related to the ongoing pandemic.
The Group’s Management is closely monitoring the evolution of
this pandemic in each of the geographical regions concerned, and is
implementing all required measures to protect its employees,
clients and partners (thus participating in the global effort to
limit the spread of the virus). Most activities, including R&D
activities, are now being carried out via telecommuting. At the
same time, the Group has implemented all necessary health
protection measures to continue its essential logistical activities
enabling orders to be distributed and shipped. In order to cope
with the lockdown period imposed by the government, the Group
implemented partial unemployment measures.
Within a global economic context that remains extremely
uncertain, the Group is implementing every measure at its disposal
to protect itself within this unprecedented environment. However,
with the pandemic having affected every geographical region in
which the Group operates, SuperSonic Imagine is not in a position
to guarantee that it will not be more seriously impacted, notably
in view of the economic consequences of the extended lockdown
measures in France and every other country in which it is present
(particularly the United States, particularly hard hit by the
Covid-19 crisis). In these conditions, the SuperSonic Imagine
group’s companies could see their sales, profitability and cash
flow affected, although to what extent exactly is currently still
difficult to assess.
Next financial press release: H1 2020 results, on July
23, 2020
About SuperSonic Imagine SuperSonic Imagine is a medical
technology company (Medtech) specialized in ultrasound imaging. The
company designs, develops and markets an ultrasound platform whose
exclusive ultrafast technology (UltraFast™) has given rise to new
imaging methods, which have now become standards in the
non-invasive care path for the characterization of breast, liver or
prostate diseases. The first innovative mode UltraFast™ is
ShearWave® elastography (SWE™), which allows doctors to instantly
visualize and analyze tissue hardness, which is critical
information for the diagnosis of many pathologies. To date, more
than 600 publications have validated the benefits of its
technologies. The latest addition to the Aixplorer® range,
Aixplorer MACH® 30 introduces a new generation of imaging
UltraFast™ allowing the optimization of all innovative imaging
modes: ShearWave PLUS, UltraFast Doppler, Angio PL.U.S, TriVu. With
almost 2,800 ultrasound platforms installed worldwide, SuperSonic
Imagine is present in more than 80 countries and its main markets
are China, the United States and France. The group's sales for the
2019 financial year amounted to €26.4 million. SuperSonic Imagine
is a company listed on Euronext (symbol: SSI). For more
information, visit www.supersonicimagine.fr.
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version on businesswire.com: https://www.businesswire.com/news/home/20200716005541/en/
Investor Relations NewCap Thomas Grojean
supersonicimagine@newcap.eu +33 44 71 94 94