Amplitude Surgical: Q2 2015-16 Sales up +15% (Constant Currency) to €20.3 Million

Regulatory News:

Amplitude Surgical (Paris:AMPLI) (ISIN: FR0012789667, Ticker: AMPLI, PEA-PME eligible), a leading French player on the global surgical technology market for lower-limb orthopedics, today announces its sales for the 2^nd quarter of its 2015-16 financial year.

Olivier Jallabert, Chairman and CEO of Amplitude Surgical, says: "Quarter after quarter, Amplitude Surgical is continuing to record buoyant sales growth and significant increases in market share, both in France and abroad. These excellent performances result from substantial investments both in R&D to foster innovative product development (one third of sales currently generated from products launched over the past three years) and in our teams, notably in order to establish our developments on new markets. The recent initial registration of an Amplitude Surgical implant in Japan, a market identified as a priority development route at the time of our IPO, is a perfect illustration of this. The continuation of this strategy, with a high level of investments, strengthens our confidence in Amplitude Surgical’s ability to seize growth opportunities and continue recording strong activity over coming quarters.”

Over the 2^nd quarter (October to December) of its 2015-16 financial year, Amplitude Surgical recorded sales of €20.4 million, up +12.5% in actual terms and +15.1% at constant currency, given the negative impact of the evolution of the Brazilian currency. Over the first half of the financial year (July to December), sales totaled €34.4 million, up +10.1% in actual terms and 13.4% at constant currency. These performances are the result of the substantial efforts undertaken by our teams and a buoyant marketing momentum to accelerate the adoption of the Group’s products, and in particular Novastep, by an ever-increasing number of practitioners.

In France, the group constantly outperformed the market with revenue up 13.1% in the 2^nd quarter and 10.5% over the semester, with numerous new clients coming onboard.

International sales are continuing to record very strong growth. At constant currency, growth was thus +19.2% in the 2^nd quarter and +18.8% over the semester. Group’s subsidiaries, now generating almost 80% of international sales, recorded particularly robust revenue growth (+44.8% in the 2^nd quarter and +40.7% over the semester at constant currency), notably in Australia, Brazil and the United States, as well as on major European markets such as Belgium and Switzerland.

Sales of Novastep, innovative solutions for lower-limb extremities (foot and ankle) surgery, have taken off and totaled €1.4 million over the half, 4.5 times the figure recorded in H1 2014-15. This performance came both from abroad, especially the American market that is now the largest market following the marketing initiated in December 2014, and from France, where sales doubled over the half after marketing began in July 2014.

Recent highlights
Amplitude Surgical is continuing to implement its strategy on the development routes laid out at the time of the Group’s IPO:

• Product innovation and sales deployment.
  • In Japan, Amplitude Surgical has just, on January 29, been granted registration for a first hip range. Japan is the second-largest lower-limb prosthetic reconstruction market, estimated at close to $2 billion (15% of the worldwide market), behind the United States. The request for this rod’s approval and reimbursement will be filed with the Japanese health authorities on February 10, with an answer then expected within a month.
  • In the 2^nd quarter, Amplitude Surgical took part in numerous congresses in order to meet its clients and distributors, present its products and show how easy to use they are, and increase its visibility.
    • Amplitude Surgical was thus able to present its innovation in the field of in-consultation navigation, the KNEEMAP®, based on accelerometer technology, to more than 1,000 surgeons at the SFA (Société Française d’Arthroscopie) congress in Grenoble, France, in December. The KNEEMAP®’s unprecedented performances sparked great interest, notably among leading anterior cruciate ligament surgeons.
    • Amplitude Surgical also took part in other major congresses:
      • in Penang, Malaysia: ICJR (International Congress for Joint Reconstruction) South-East Asia, in mid-September;
      • in Guangzhou, China: SICOT (Société Internationale de Chirurgie Orthopédique et de Traumatologie), also in mid-September;
      • in Brisbane, Australia: AOA (Australian Orthopaedic Association) annual meeting, in mid-October.
• International developments.
  The group thus established a new subsidiary in South Africa that, following the recent regulatory approval granted for the whole hip, knee and foot product ranges, should start marketing the Group’s products in that region from February 2016.

Next financial press release: H1 2015-16 results, Wednesday March 9, 2016, after market.

About Amplitude Surgical

Founded in 1997 in Valence, France, Amplitude Surgical is a leading French player on the global surgical technology market for lower-limb orthopedics. Amplitude Surgical develops and markets high-end products for orthopedic surgery covering the main disorders affecting the hip, knee and extremities, and notably foot and ankle surgery. Amplitude Surgical develops, in close collaboration with surgeons, numerous high value-added innovations in order to best meet the needs of patients, surgeons and healthcare facilities. A leading player in France, Amplitude Surgical is developing abroad through its subsidiaries and a network of exclusive distributors and agents. Amplitude Surgical operates on the lower-limb market through the intermediary of its Novastep subsidiaries in France and the United States. Amplitude Surgical distributes its products in more than 30 countries. On June 30, 2015, Amplitude Surgical had a workforce of 248 staff and recorded sales of 71.1 million euros and an EBITDA margin of close to 19%.

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