Safe Group announces half-year sales of €2.75 million, 27% growth
07 Juillet 2022 - 5:45PM
- Direct sales revenue of €1.183M
in Q2 2022, up +59% compared to Q1 2022
- Doubling of Sycamore and
Hickory users
- Fully integrated production of
SteriSpineTM technologies within the group
Eragny-sur-Oise, Fleurieux sur l’Arbresle,
France, July 7th, 2022 5:45pm CET – Safe
(FR0013467123 – ALSAF), a company specializing in the
design, manufacturing and marketing of single-use technologies for
spinal surgeries, delivering the safest treatment for spinal
fractures urgently treated, announces its half-yearly revenues for
the period ending June 30, 2022.
"Safe Group closes the first half of 2022 with
an overall half-year sales growth of 27% compared to the first half
of 2021 driven by Safe Orthopaedics (+46%) and Safe Medical (+26%)
direct sales growth, while indirect sales are still limited by the
health situation and the financial conditions of our distributors
(+1%)," commented Pierre Dumouchel, Safe Group's Chairman and
CEO. "In the second quarter, all of our Safe Orthopaedics
direct sales forces posted double-digit growth, accelerated by the
promotion of Sycamore and Hickory, even though marketing and sales
headcount was held back by a third. Safe Medical continues to show
steady growth of 26%."
S1 2022 revenues
Thousands euros |
Q1
2022 |
Q2
2022 |
S1
2022 |
Q1
2021 |
Q2
2021 |
S1
2021 |
VariationQ2 22/ Q2 21 |
VariationS1 22/ S1 21 |
Direct Sales (FR, All,
R-U, USA) |
585 |
598 |
1 183 |
437 |
375 |
811 |
+59% |
+46% |
Indirect Sales |
343 |
219 |
562 |
258 |
298 |
556 |
-27% |
+1% |
Subcontracting Production |
490 |
518 |
1
008 |
389 |
412 |
801 |
+26% |
+26% |
Total Sales |
1
418 |
1
335 |
2
753 |
1
084 |
1
085 |
2
168 |
+23% |
+27% |
Safe Orthopaedics' half-year direct sales
amounted to €1,182k versus €811k in the first half of 2021, up 59%,
driven by significant growth in all direct sales territories:
France +19%, Germany +16%, United Kingdom +65% and the United
States where sales amounted to €245k versus €122k for the full year
2021.
In France, first-half sales amounted to €646
thousand, compared with €545 thousand in the first half of 2021. In
the second quarter, sales jumped by 44%, driven by the acceleration
of Sycamore sales. In Germany, French sales amounted to
€228,000 compared with €197,000 in the first half of 2021. In the
second quarter, sales jumped by 19%, driven by the new
ClinikPartners centers and the introduction of Hickory. In the
United Kingdom, half-year sales were €94 thousand, tending towards
pre-covid volume. In the United States, half-year sales were
€215 thousand under the direction of a single sales manager,
doubling the 2021 sales. For several quarters, resources allocated
to the first three countries have been optimized to maintain
double-digit growth, to move more quickly towards positive national
financial contributions and to release additional resources in the
United States.
Indirect sales in the first half of 2022 are
constant compared to 2021. Sanitary conditions in certain countries
and the financial caution of certain distributors in a anxious
international financial environment are still limiting
international growth. In Japan, the transition of distribution from
Otsuka/Kisco to Teijin slowed sales in the first half of the year,
even though this new partner has invested in the new generation of
SteriSpine PS.
Safe Medical was able to post sales of €517k in
the second quarter of 2022, showing a 26% increase in sales
compared with the previous year, and a 26% increase in the first
half of the year to €1m, reflecting the stability of industrial
growth and confirming the recovery of the sector and a strong
commercial dynamic.From an innovation point of view, the new
Sycamore and Hickory technologies continue to be deployed in direct
territories. The number of Sycamore and Hickory French-German user
centers doubled between the first and second half of 2022.The
increase in Hickory inventory was achieved in the first half of the
year to allow for international deployment from the second
quarter.The presentation of the first clinical results of Sycamore
at 3 and 6 months by Professors Jean-Charles Le Huec and Kevin
Buffenoir at the SCFR gives a very good outlook. As a reminder,
this novel technology aims to secure the treatment of vertebral
fractures and reduce the risk of adjacent fractures. Following CE
Mark approval in 2021, Safe Orthopaedics had initiated an
observational study in 5 centers on 50 cases and is working on
setting up a long-term clinical registry and registration of
Sycamore in the United States.
From a structural point of view, the group now
produces all its products in-house. Starting in 2021 with the
SteriSpine PS range, the production of the LC, CC and VA ranges is
effective on the Fleurieux-sur-l'arbresle site, which allows a
drastic reduction in manufacturing lead times, working capital
requirements and a significant improvement in margins.
Cash position
As of June 30, 2022, the Group's cash position
amounted to 0.1 M€, compared to 3.94 M€ at the end of June 2021. As
a reminder, the balance of financing to be received amounts to 4 M€
over the next 10 months.
Next financial publication
Results for the first half of 2022, on September
29, 2022 (after the close of trading)
About Safe GroupSafe Group is a French
medical technology group that brings together Safe Orthopaedics, a
pioneer in ready-to-use technologies for spine pathologies, and
Safe Medical (formerly LCI Medical), a medical device subcontractor
for orthopaedic surgery. The group employs approximately 150
people.
Safe Orthopaedics develops and manufactures kits
combining sterile implants and single-use instruments, available at
any time to the surgeon. These technologies are part of a minimally
invasive approach aimed at reducing the risks of contamination and
infection, in the interest of the patient and with a positive
impact on hospitalization times and costs. Protected by
18 patent families, SteriSpineTM kits are CE marked and FDA
approved. Safe Orthopaedics is headquartered in the Paris region
(95610 Eragny-sur-Oise) and has subsidiaries in the United Kingdom,
Germany, the United States and the Lyon region
(Fleurieux-sur-l'Arbresle).
For more
information: www.safeorthopaedics.com
Safe Medical produces implantable medical
devices and ready-to-use instruments. It has an innovation center
and two production sites in France (Fleurieux-sur-l'Arbresle,
69210) and in Tunisia, offering numerous industrial services:
design, industrialization, machining, finishing and sterile
packaging. Supported by the French stimulus plan in 2020, the
companýinvests in additive printing and will be operational in
2022 on this new technology.
For more
information: www.safemedical.fr
Contacts
Safe
Group
François-Henri
Reynaud Chief
Financial and Administrative
Officer Tél.
: +33 (0)1 34 21 50
00 investors@safeorthopaedics.com
SAFE (EU:ALSAF)
Graphique Historique de l'Action
De Mar 2024 à Avr 2024
SAFE (EU:ALSAF)
Graphique Historique de l'Action
De Avr 2023 à Avr 2024