Safe announces its revenues for the first half of 2021
07 Juli 2021 - 5:35PM
Safe announces its revenues for the first half of 2021
- Revenues of €1.085M in Q2 2021, up 67%, despite the
impact of the health crisis
- Revenues of €2.168M in the first half of 2021, up 25%,
despite the impact of the health crisis
-
Significant recovery of activity in all markets
from the second quarter of 2021.
Éragny-sur-Oise, France, July 7th, 2021
at 5:35 p.m. CET – Safe Orthopaedics (FR0013467123 –
ALSAF), a company specialising in the design, manufacture and
marketing of ready-to-use technologies for back surgery, with a
particular focus on the safety of emergency vertebral fractures,
announces today its half-yearly revenues for the period ending June
30, 2021.
"The Safe Group closes the first half of 2021
with an overall half-year sales growth of 25% compared to the first
half of 2020 driven by a 67% sales growth in the second quarter,
and this in all geographical sectors in which the Group is present
even if commercial actions were still limited by the health crisis
until the end of May" comments Pierre Dumouchel, Chairman
and CEO of Safe Group. "The acceleration of vaccination
and the improvement in virus contamination curves in many countries
give us confidence that the situation will return to normal in the
coming months. Our group is working on accelerated growth in the
second half of the year in its two activities: Safe Medical is
recording an increase in customer orders and will be offering new
industrial services from the third quarter onwards, thanks to the
completion of our C.I.P.I 1and qualification of the clean rooms at
Fleurieux. Safe Orthopaedics is speeding up surgeries with its new
Sycamore and Hickory technologies, which will be CE marked in May
2021, and is gaining access to new commercial territories, with
distribution in Colombia and direct sales in the United
States.”
Revenues as of June 30,
2021
Thousands euros |
d |
Q1 2021 |
Q2 2021 |
S1 2021 |
Q1 2020 |
Q2 2020 |
S1 2020 |
VariationQ2 21/ Q2 20 |
VariationS1 21/ S1 20 |
Direct sales (FR, All,
R-U) |
|
437 |
375 |
811 |
529 |
352 |
881 |
+6% |
-8% |
Indirect sales |
|
258 |
298 |
556 |
551 |
297 |
1 032 |
+1% |
-34% |
Subcontracting
Production |
|
389 |
412 |
801 |
- |
- |
- |
- |
- |
Overall Revenues |
|
1 084 |
1085 |
2 168 |
1 080 |
649 |
1 729 |
+67% |
+25% |
Excluding IFRS 15 impact
While sales stabilized in the first quarter of
2021 compared with the previous year, due in particular to the
effect of the acquisition of Safe Medical in Q3 2020, the second
quarter of 2021 saw a return to strong growth of 67%, bringing
first-half growth to 25% for the same reasons.
In the context of the health crisis experienced
in 2021, which has impacted the availability of intensive care beds
and triggered hospital restriction plans resulting in the
postponement of surgeries designated as "non-urgent", sales
recorded in the second quarter by the French team amounted to €545k
compared to €711k in 2020, down 28% in the first quarter and only
17% in the second, following the resumption of surgery. Sales
in the UK market were down 68% in the first quarter and only 8% in
the second quarter. Germany, on the other hand, posted growth of
+346% in the second quarter, bringing first-half growth to +189%.
The stability of international sales in the second quarter of 2021
compared with the second quarter of 2020 also reflects the effect
of the recovery of surgeries in the areas where Safe Orthopaedics
products are marketed. Finally, with the success of this German
success, the second quarter of 2021 saw the first surgeries
performed in the United States following the first referrals
recorded in hospital groups and ambulatory surgery centers
(ASC).
Safe Medical was able to post sales of €412k for
the second quarter of 2021, showing a 61% increase in sales
compared with the previous year, confirming the sector's recovery
and strong commercial momentum. This is without counting the impact
of the construction of the Integrated Innovation and Production
Center (CIPI), which will be delivered at the end of July in view
of the first qualifications of the 180m2 of clean rooms that will
go into production in the summer of 2021.
Cash position
At June 30, 2021, the Safe Group's cash position
amounted to €3.94 million, compared with €3.2 million at the end of
June 2020. As a reminder. The balance of financing to be received
amounts to k€, including a PGE of 300k€ from Safe Medical, the
balance of the stimulus plan grant of 400k€ and the balance of the
financing line set up in December 2020 is 3 monthly tranches of
200k€, i.e. 0.6€ over the next 3 months.
Next financial publication
Half-year results 2021, September 30, 2021
(after market closing)
About Safe GroupThe Safe Group
is a French medical technology group that brings together Safe
Orthopaedics, a pioneer in ready-to-use technologies for spinal
pathologies, and Safe Medical (formerly LCI Medical), a
subcontractor of medical devices for orthopaedic surgery. The group
employs approximately 150 people.
Safe Orthopaedics develops and manufactures kits
combining sterile implants and single-use instruments, available at
all times to the surgeon. These technologies are part of a
minimally invasive approach aimed at reducing the risk of
contamination and infection, to the benefit of the patient and with
a positive impact on hospitalisation 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 - France) and has subsidiaries in the UK,
Germany, the USA and the Lyon region where the manufacturing
company is located.For more information:
www.SafeOrthopaedics.com
Safe Medical (formerly LCI Medical) produces
implantable medical devices and ready-to-use instruments. It has an
innovation centre and two production sites in France and Tunisia,
offering numerous industrial services: design, industrialisation,
machining, finishing and sterile packaging. Supported by the French
recovery plan in 2020, the company is investing in additive
printing and will be operational in 2022 with this new technology.
For more information: www.safemedical.fr
Contacts
Safe
Orthopaedics
François-Henri Reynaud
Chief Financial and Administrative Officer
Tel: +33 (0)1 34 21 50
00
investors@safeorthopaedics.com
Press RelationsUlysse
CommunicationPierre-Louis Germain / +33 (0)6 64 79
97 61 / plgermain@ulysse-communication.com Bruno
Arabian / +33 (0)6 87 88 47 26 /
barabian@ulysse-communication.com
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