Amplitude Surgical – 2022-23 Annual Results

Sales of €100.2 Million and EBITDA of €26.1 Million

Regulatory News:

Amplitude Surgical (ISIN: FR0012789667, Ticker: AMPLI, eligible for PEA-PME plans) (Paris:AMPLI), a leading French player on the surgical technology market for lower-limb orthopedics, announces its 2022-23 annual results.

Olivier Jallabert, Amplitude Surgical’s CEO, commented: “Group sales for the 2022-23 financial year were up by 14.0% on the previous year at constant exchange rates. Activity notably improved thanks to revenue growth of 15.8% in France, which benefited from a favorable sales dynamic. This growth in activity and good control over operating costs led to an 18.7% increase in EBITDA to €26.1 million. The recurring operating profit rose to €10.3 million. The disposal of Novastep’s activities enabled the Group to reduce its debt and strengthen its financial structure, which will allow it to continue its sales development momentum and its investments in technological projects”.

Financial summary – actual exchange rates:

In June 2022, the Board of Directors issued a recommendation that a strategic review of the Group’s foot and ankle activities be launched. On June 29, 2023, the Group announced the completion of the sale of Novastep SAS and Novastep Inc. Therefore, for both financial years, the Group has applied IFRS 5 “Non-current assets held for sale and discontinued activities”. The contribution of Novastep’s activities to the Group’s net profit for 2023 and the proceeds of the divestment are thus presented on a single line as Profit/loss from discontinued activities.

€ millions – IFRS		2022-23	2021-2022	Δ
Sales		100.2	87.6	14.4%
Gross margin		70.9	62.7	13.0%
as a % of sales		70.7%	71.6%	-89 bps
Sales & Marketing costs		29,7	27,3	8.5%