Safe announces its revenues for the first half of 2021 - Corrective
document
- 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 (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 of 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 |
T1 2021 |
T2 2021 |
S1 2021 |
T1 2020 |
T2 2020 |
S1 2020 |
VariationT2 21/ T2 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
As a reminder and in order to allow a better
reading of the financial performance of the company, despite the
impact of Covid-19, the revenue for the first semester of 2019 was
€ 2,041 k and shows that despite the impact of the health crisis
which is still very significant in the first half of 2021, the
group's revenue exceeded its first half of 2019 own level.
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 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 M, compared with € 3.2 M at the end of June
2020. As a reminder, the balance of financing to be received
amounts to 1,300k€, 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. € 600k 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
[1] This press release is the
result of editorial errors in the paragraph Cash Position in the
press release published on July 7, 2021.2 C.I.P.I: Center for
Innovation and Industrial Production3 The turnover of production
subcontracting corresponds to the turnover of Safe Medical
(formerly LCI Medical) integrated into the scope of the Safe Group
in July 2020 and until now included in direct sales
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