Amplitude Surgical Announces Its Results for the First Half of 2022-23

Sales of €45.2 Million and EBITDA of €11.7 Million

Regulatory News:

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

Olivier Jallabert, Amplitude Surgical’s CEO, said: “Amplitude Surgical’s sales for the first half of its 2022-23 financial year, excluding foot and ankle activities for which a strategic review is underway, recorded an increase of 10.8% at constant exchange rates compared with the first half of the previous year. The growth in activity combined with good control over operating costs led to a 14.0% improvement in EBITDA to €11.7 million. There was a recurring operating profit of €4.9 million, a substantial improvement on the previous year”.

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. This review, which is still underway, could lead to the divestment of this activity driven by Novastep and Novastep Inc. As of December 31, 2022, the criteria set out in IFRS 5 are complied with. Therefore, and in accordance with IFRS 5 “Non-current assets held for sale and discontinued activities” principles, the two subsidiaries fulfill the criteria of a discontinued activity and are presented separately in the Group’s income statement as Profit/loss from discontinued activities, after tax. 2021-22 first-half accounts have been restated accordingly.

€m - IFRS		H1 2022-23	H1 2021-2022	Δ
Sales		45.2	40.2	12.5%
Gross margin		32.4	29.5	9.9%
as a % of sales		71.6%	73.3%	-168 bps
Sales & Marketing costs		13.8	12.8	8.0%