MEDICREA Reports 2020 First Quarter Results

The MEDICREA Group (Euronext Growth Paris: FR0004178572 – ALMED ; OTCQX Best Market –MRNTF), pioneering the transformation of spinal surgery through Artificial Intelligence, predictive modeling and patient specific implants with its UNiD ASI (Adaptive Spine Intelligence) proprietary software platform, services and technologies, reports its unaudited results for the first quarter of 2020.

€’million

Q1 2019

Q1 2020

Sales

Gross margin in % of sales

EBITDA (1)

In % of sales

Operating income

Other operating income and expense

Share-based payments

Cost of net financial debt

Income before taxes

Net Income

7.7

78%

0.3

4%

(1.6)

(0.2)

(0.5)

(1.4)

(3.6)

(3.6)

7.4

77%

1.1

15 %

(1.4)

(0.1)

(0.1)

(1.9)

(3.5)

(3.7)

 

(1): Earnings before interest depreciation and amortization

Sales for the first quarter of 2020 reached 7.4 million euros. On a cumulative basis, as of March 15, the Group reported sales growth of +10% in the United States, its priority market, and +15% overall. UNiD patient-specific surgeries were also up 44% compared to the first quarter of 2019. The acceleration of the COVID-19 pandemic and the resulting indefinite postponement of elective surgeries (in accordance with guidelines set forth by the health authorities in many countries) has led to a loss of more than 1 million euros in sales, a large part of it in the United States, in the second half of March. As a result, revenue as of March 31, 2020 was down 4% compared to the same period in 2019.