- Impact of the health crisis across all regions of activity
confirmed, but gradual upturn in sales momentum
Regulatory News:
SuperSonic Imagine (Paris:SSI) (Euronext: SSI, FR0010526814,
PEA-PME eligible), a company specializing in ultrasound medical
imaging (echography), today announces its revenue for the third
quarter of 2020.
Antoine Bara, General Manager of SuperSonic
Imagine, comments: “After a first half of 2020 marked by the
Covid-19 public health crisis, the Company is continuing to be
impacted by the pandemic. SuperSonic Imagine’s three key markets
have recorded a decrease in sales compared with the same period of
2019. However, commercial activity saw an upturn in the third
quarter, with sales increasing by over 65% compared with the second
quarter. This momentum can be seen in all three regions in which
the Company is present”.
In thousands of euros
2020
2019
Change (%)
Products
4,153
5,122
-19%
% of total sales
85%
85%
Services
732
916
-20%
% of total sales
15%
15%
1st quarter sales
4,885
6,038
-19%
Products
2,572
4,783
-46%
% of total sales
82%
83%
Services
581
972
-40%
% of total sales
18%
17%
2nd quarter sales
3,153
5,754
-45%
Products
4,508
5,498
-18%
% of total sales
86%
85%
Services
704
950
-26%
% of total sales
14%
15%
3rd quarter sales
5,212
6,448
-19%
Products
11,232
15,403
-27%
% of total sales
85%
84%
Services
2,018
2,837
-29%
% of total sales
15%
16%
9-month sales
13,250
18,240
-27%
Other revenue (*)
1,059
241
339%
Total 9-month revenue
14,309
18,481
-23%
Unaudited data. NB (*): this revenue is non recurrent by nature
and is not part of the Company’s core business.
Revenue for the third quarter of 2020
The Company generated sales of €5,212 thousand in the third
quarter of 2020, versus €6,448 thousand in the third quarter of
2019, a decrease of -19%, with sales activity continuing to be
impacted by the public health crisis associated with COVID-19.
Product sales thus fell by -18% to €4,508 thousand (vs. €5,498
thousand in the third quarter of 2019). Services sales, which
account for 14% of quarterly revenue, also fell and totaled €704
thousand, versus €950 thousand in the same quarter of 2019, a
decrease of -26%.
Sales in China, France and the United States, SuperSonic
Imagine’s 3 key markets, were down -31% to €2,185 thousand, -18% to
€719 thousand and -35% to €699 thousand, respectively. These
temporary falls were a direct result of the global health crisis
associated with Covid-19.
As a reminder, the revenue recorded in the third quarter of 2020
in the United States concerns sales of systems to Hologic Inc.,
versus sales of systems to American end clients in 2019.
Furthermore, Hologic Inc. now records Services revenue in the
United States.
Revenue for the first nine months of 2020
Over the first nine months of 2020, SuperSonic Imagine recorded
a -27% decrease in revenue to €13,250 thousand (vs. €18,240
thousand for the first nine months of 2019).
Product sales totaled €11,232 thousand versus €15,403 thousand,
a -27% fall, while Services sales fell -29% to €2,018 thousand.
Altogether, the Company’s three key markets generated revenue of
€8,638 thousand, down -37%, as a direct result of the public health
crisis that affected China (-42%), then France (-25%) and finally
the United States (-30%).
Across all regions, Asia recorded a more limited decrease in
sales of -28%. EMEA and the Americas saw sales fall by -26% and
-31%, respectively.
2020 outlook
The Group has observed a decrease in activity on its key
markets: France, the United States and China.
The SuperSonic Imagine group’s cash position (strengthened by
the revolving loan concluded between Hologic Hub Ltd and the
Company for a maximum cumulative amount of €67 million) should
enable the Group to be in a position to deal with the uncertainties
related to the ongoing pandemic.
The Group’s Management is closely monitoring the evolution of
this pandemic in each of the geographical regions concerned, and is
implementing all required measures to protect its employees,
clients and partners (thus participating in the global effort to
limit the spread of the virus). Most activities, including R&D
activities, are now being carried out via telecommuting. At the
same time, the Group has implemented all necessary health
protection measures to continue its essential logistical activities
enabling orders to be distributed and shipped. In order to cope
with the lockdown period imposed by the government, the Group
implemented partial unemployment measures.
Within a global economic context that remains extremely
uncertain, the Group is implementing every measure at its disposal
to protect itself within this unprecedented environment. However,
with the pandemic having affected every geographical region in
which the Group operates, SuperSonic Imagine is not in a position
to guarantee that it will not be more seriously impacted, notably
in view of the economic consequences of the extended lockdown
measures in France and every other country in which it is present
(notably the United States, particularly hard hit by the Covid-19
crisis). In these conditions, the SuperSonic Imagine group’s
companies could see their sales, profitability and cash flow
affected, although to what extent exactly is currently still
difficult to assess.
About SuperSonic Imagine SuperSonic Imagine is a medical
technology company (Medtech) specialized in ultrasound imaging. The
company designs, develops and markets an ultrasound platform whose
exclusive ultrafast technology (UltraFast™) has given rise to new
imaging methods, which have now become standards in the
non-invasive care path for the characterization of breast, liver or
prostate diseases. The first innovative mode UltraFast™ is
ShearWave® elastography (SWE™), which allows doctors to instantly
visualize and analyze tissue hardness, which is critical
information for the diagnosis of many pathologies. To date, more
than 600 publications have validated the benefits of its
technologies. The latest addition to the Aixplorer® range,
Aixplorer MACH® 30 introduces a new generation of imaging
UltraFast™ allowing the optimization of all innovative imaging
modes: ShearWave PLUS, UltraFast Doppler, Angio PL.U.S, TriVu. With
almost 2,800 ultrasound platforms installed worldwide, SuperSonic
Imagine is present in more than 80 countries and its main markets
are China, the United States and France. The group's revenues for
the 2019 financial year amounted to €26.4 million. SuperSonic
Imagine is a company listed on Euronext (symbol: SSI). For more
information, visit www.supersonicimagine.fr.
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Contacts – Investor Relations NewCap Thomas Grojean
supersonicimagine@newcap.eu +33 44 71 94 94