Safe Orthopaedics announces its revenues for the third quarter of 2020

€943k

• Sharp increase for quarterly direct sales : +28%
• Worldwide sales still hit by the pandemic
• First effects of LCI Medical acquisition

Éragny-sur-Oise, France, October 8, 2020, 17h35 CEST – Safe Orthopaedics (FR0013467123 – ALSAF), a company specializing in the design and marketing of single-use implants and instruments for the minimally invasive treatment of spinal fracture conditions, is today announcing its revenues for the third quarter of 2020 and its cash position at September 30, 2020.

In thousands of euros	Q3 2020 (3 months)		Q3 2019 (3 months)	9M 2020		9M 2019
Direct sales	618	+28%	484	1 500	+1%	1 492
Indirect sales	325	-52%	675	1 173	-31%	1 708
Total revenues	943	-19%	1 159	2 673	-16%	3 201

Safe Orthopaedics’ third quarter in 2020 were €943k, a decrease of 19% compared to the third quarter 2019, entirely due to the impact of successive sanitary measures for the global pandemic in different countries. Indirect sales from distributors produced €325k, a decrease of 44% compared to the third quarter 2019. The sales made under the Japanese agreement, strategical partnership initiated in 2019, amounted to €46k versus €296k for the third quarter 2019.
Direct sales (France, Germany and United Kingdom) amounted to €618k versus €484k, an increase of +28% following the integration of LCI Medical on July 24^th, 2020; €450k at constant structure.

The cumulated net sales on September 30^th, 2020, amounts to €2 573k, a decrease of 16% compared to 2019. Direct sales increased slightly (+1%) while indirect sales decrease by 31% due to the global pandemic. Cumulated sales under the Japanese contract amounted to €387k versus €757k for the same period in 2019.

“In spite of the pandemic, the turnover for direct sales during the third quarter show a growth of 28%, recovering the economic growth thanks, in particular, to the acquisition of LCI Medical end of July. The sanitary crisis on the international market still strongly impacts the prospection work with surgeons of our distributors, severely affecting our indirect sales for this third semester” comments Pierre Dumouchel, President of Safe Orthopaedics. “The transformation of the industrial site in Fleurieux-sur-l’Arbresle is well underway and will allow, on the fourth quarter of 2020, to accelerate the commercial launch of new technologies and to benefit from shorter production cycles. The recovering of the economic growth for direct sales and emerging new industrial partnership allow us to consider a return to economic growth in a still unstable context of Covid-19”.