STENTYS

2018 Annual Results

Regulatory News:

STENTYS (Paris:STNT) (FR0010949404 – STNT), a French group specialized in medical technologies for interventional cardiology, today reports its annual results for the year ending on December 31, 2018, as approved by the Board of Directors on March 29, 2019.

Christophe Lottin, Chief Executive Officer of STENTYS, comments: “2018, marked by the acquisition of MINVASYS, was a transformative year for STENTYS. This first external growth operation has allowed us to expand our product portfolio and cope with the substantial pricing pressure and the commoditization of the stent market. We generated revenues of €9 million, a third of this in the final quarter, the most dynamic quarter of the year. Despite the integration costs inherent to this acquisition, our spending remained under control and our operating cash burn was cut by 60% over the year. Our financial structure was strengthened by the rights issue, and will enable us to continue the development of STENTYS on an interventional cardiology market that has become very restrictive.”

2018 annual results: 8% reduction in the net loss
€ thousands – IFRS2			December 31, 2018			December 31, 2017
Revenues and other income			8,890			7,036
Cost of goods sold			-4,900			-3,493
Research & Development costs			-2,578			-2,377
Sales & Marketing costs			-4,689			-4,472
General & Administrative costs			-2,742			-2,141
Core operating loss (before share-based payments)			-6,019			-5,447
Other operating expenses/income			-119			-92
Share-based payment			-92			-139
Operating loss			-6,229			-5,678
Financial result			-2			-192
Tax			-57			0
Deferred tax			890			0
Net loss			-5,398			-5,870

During 2018, the main financial indicators of STENTYS have evolved as follows: