• Revenues of 1,731 M€ for the first half of 2020, a decline of only 15% despite the impact of the sanitary crisis
  • Significant resumption of business on direct distribution markets in June 2020
  • Confirmation of the creation of a French leading group for ready-to-use technologies for spinal surgery, submitted to the Annual General Meeting on July 24th, 2020 for approval

Eragny-sur-Oise, France, July 8th, 2020, 17h45 CEST – Safe Orthopaedics (FR0013467123 - ALSAF), a company specializing in the design and marketing of ready-to-use technologies for spinal surgeries, delivering the safest treatment of spinal fractures urgently treated, today announces its revenues for the first half of 2020.

“Safe Orthopaedics ends the first Semester of 2020 with a global decrease of half-year sales of only 15% compared to the first Semester 2019, despite a decrease in activity on direct distribution of -39% in April and on indirect distribution of -87% in May. The efficiency of our ready-to-use technologies, particularly suitable for emergency surgeries, limited the decrease in sales, despite the exceptional context of the COVID-19 pandemic, and allowed a quick return to business activity in June, following the recovery of surgeries in hospitals that were postponed during the lockdown period. The implementation of governmental measures and the support of ABO were a key to reinforce our cash position and to launch strategical operations” Pierre Dumouchel, CEO and co-founder of Safe Orthopaedics, comments. “This episode of worldwide pandemic strengthens our confidence in our strategy of integrating the entire value creation chain in France, and in our decision to acquire our main supplier LCI Medical. The optimization of the innovation and implantation (time between production and use in operating rooms) cycles will allow this new Safe group to ensure its customers a reactivity and an accrued medico-economical service offering”.

 Revenues on June 30th, 2020

Thousands of euros Q1 20Q2 20S1 2020Q1 19Q2 19S1 2019Variation
Q2 20/ Q2 19
Variation
S1 20/ S1 19
Direct sales (FR, Ger, UK) 530353 8835464581 003-23%-12%
Indirect sales 5512978485275051 032-41%-18%
Total revenue 1 0816501 7311 0739632 036-32%-15%

In this context of lockdown, entered into force mid-March and progressively lifted mid-May, the recorded sales during the second quarter for the French team amount to 710k€ versus 853 k€ in 2019, a decrease of only 26%, knowing that the revenues for April were 50% lower compared to the previous year.

UK sales are 25% lower for the same period, with a lowest point in May with -57%, overtaken in June with a growth of 13% compared to June 2019. Germany shows a growth of 82% for the second quarter, bringing the first semester to a growth of +106%.
The 41% decrease on international sales recorded on the second quarter, due to the multiple regional lockdowns, was a major drag on the economic growth but only impacted the sales of the first semester to 18%.
  
Cash position

As at June 30, 2020, Safe Orthopaedics’ cash position amounted to 3,2 M€, versus 1,1 M€ at the end of June 2019. As a reminder, the general meeting of June 7th, 2019, approved a € 12.15 million financing line, of which 9 mensual tranches of 450k€ remain to be paid, amounting to 4M€ over the next 9 months.

  

Next financial publication

Results for the first half of 2020, on September 28th (post-market).


About Safe Orthopaedics 

Founded in 2010, Safe Orthopaedics is a French medical technology company, a pioneer of the design and marketing of innovative ready-to-use technologies (single-use implants and instruments) for spinal diseases, delivering the safest treatment of spinal fractures. The technologies include sterile implants and ready-to-use instruments available to the surgeon at any time and anywhere, enabling minimally invasive approaches, reducing the risks of cross contamination and infection in the interest of the patient. Protected by 17 patent families, the SteriSpineTM Kits are CE marked, FDA and CFDA approved. Safe Orthopaedics, has its headquarter close to Paris (95610 Eragny-Sur-Oise - France) and has created a subsidiary in the UK, Germany and in the US, employing around 50 employees for a total sales of 4.7M€ in 2019.

For more information : www.SafeOrthopaedics.com   
Contacts 

Safe Orthopaedics                                                                                                                
François-Henri Reynaud                                                     
Chief Financial Officer                       
Tél. : +33 (0)1 34 21 50 00                                              
investors@safeorthopaedics.com                  

Press 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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