• Sharp increase for quarterly direct sales : +28%
  • Worldwide sales still hit by the pandemic
  • First effects of LCI Medical acquisition

Éragny-sur-Oise, France, October 8, 2020, 17h35 CEST – Safe Orthopaedics (FR0013467123 – 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 revenues for the third quarter of 2020 and its cash position at September 30, 2020.

In thousands of eurosQ3 2020
(3 months)
 Q3 2019
(3 months)
9M 2020 9M 2019

 
Direct sales618+28%4841 500+1%1 492
Indirect sales 325-52%6751 173-31%1 708
Total revenues943-19%1 1592 673-16%3 201

Safe Orthopaedics’ third quarter in 2020 were €943k, a decrease of 19% compared to the third quarter 2019, entirely due to the impact of successive sanitary measures for the global pandemic in different countries. Indirect sales from distributors produced €325k, a decrease of 44% compared to the third quarter 2019. The sales made under the Japanese agreement, strategical partnership initiated in 2019, amounted to €46k versus €296k for the third quarter 2019.
Direct sales (France, Germany and United Kingdom) amounted to €618k versus €484k, an increase of +28% following the integration of LCI Medical on July 24th, 2020; €450k at constant structure.

The cumulated net sales on September 30th, 2020, amounts to €2 573k, a decrease of 16% compared to 2019. Direct sales increased slightly (+1%) while indirect sales decrease by 31% due to the global pandemic. Cumulated sales under the Japanese contract amounted to €387k versus €757k for the same period in 2019.

In spite of the pandemic, the turnover for direct sales during the third quarter show a growth of 28%, recovering the economic growth thanks, in particular, to the acquisition of LCI Medical end of July. The sanitary crisis on the international market still strongly impacts the prospection work with surgeons of our distributors, severely affecting our indirect sales for this third semester” comments Pierre Dumouchel, President of Safe Orthopaedics. “The transformation of the industrial site in Fleurieux-sur-l’Arbresle is well underway and will allow, on the fourth quarter of 2020, to accelerate the commercial launch of new technologies and to benefit from shorter production cycles. The recovering of the economic growth for direct sales and emerging new industrial partnership allow us to consider a return to economic growth in a still unstable context of Covid-19”.
  
Cash Position

At the end of the third quarter 2020, Safe Orthopaedics had cash of €575k versus €581k a year earlier. As a reminder, the General Assembly of Shareholders approved on June 7th, 2019, a €12.15M financing line of which 5 monthly installments of €450k each remain to be paid.

Next financial publication

Annual turnover 2020, Monday, January 14th, 2021 (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 fractures treatments. The company develops and manufactures kits combining sterile implants and single-use instruments, available at any time for the surgeon. These technologies enable minimally invasive approach, reducing the risk of cross contamination and infection, in the interest of the patient with a positive impact on hospitalization durations and costs. Protected by 17 patent families, the SteriSpineTM PS are CE marked and FDA approved. Safe Orthopaedics has its headquarters close to Paris (95610 Eragny-sur-Oise – France) has subsidiaries in the UK, Germany, United States and in the Lyon area where the manufacturing company is located. The Group employs around 150 employees.

For more information: www.SafeOrthopaedics.com


Contacts 

Safe Orthopaedics                                                                                                                
François-Henri Reynaud                                                     
Chief Financial and Administrative 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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