Amplitude Surgical – 2018-19 Annual Results

€102.6m Sales and 21% EBITDA

Regulatory News:

Amplitude Surgical (Paris:AMPLI) (ISIN: FR0012789667, Ticker: AMPLI, PEA-PME eligible) (“Amplitude” or the “Group”), French leader on the global surgical technology market for lower-limb orthopedics, announces its results for its 2018-19 financial year.

Olivier Jallabert, Chairman and CEO of Amplitude Surgical, says: “Despite a context of growing pricing pressure, we have been able to maintain and pursue the growth of our activity, notably thanks to the Group’s solid performance overseas, and particularly in the United States. The measures we have implemented since January 2019 to optimize our performance have enabled us to maintain a high level of EBITDA, the same as in the previous year, and will enable us to deliver an EBITDA margin of more than 23% from next year onwards. Lastly, the generation of positive cash flow will allow us to reduce our net debt to less than €100 million by end-June 2020.”

2018-19 key events:

• Strong activity acceleration in the United States, up 19.4% at constant exchange rates;
• Implementation of an ambitious plan of operational efficiency measures;
• Incorporation of Sofab Orthopédie (acquired in 2016), specialized in implant machining and polishing, within the in-house production flow;
• Launch of the first augmented-reality application for patient consultations (AKnee);
• Amendment to the terms and conditions of the 2014 and 2016 Non-Convertible Bonds¹;
• Favorable Cour de Cassation decision in the URSSAF dispute favorably considering the arguments presented by Amplitude¹.

Financial summary – actual exchange rates:

€ million - IFRS		2018-19	2017-18	2017-18(*)	Δ
Sales		102.6	100.3	100.3	+2.2%
Gross Margin		76.2	75.7	76.1	+0.2%
as a % of sales		74.3%	75.5%	75.8%