Safe group announces consolidated annual sales of €5.9M, up 26%
January 11 2023 - 2:30AM
- 43% growth in direct sales for Safe Orthopaedics
- 20% growth in outsourced production sales
- 25,000 surgeries performed with Ready to Use technology
Eragny-sur-Oise, France, January 11th,
2023 8:45 CET – Safe (FR0013467123 – ALSAF), a
company specializing in the design, manufacturing and marketing of
ready-to-use technologies for orthopedic surgeries, especially for
back surgery, announces its 2022 annual revenue and its cash
position.
In thousands euroNon audited figures |
2021(12 months) |
2021(12 months) |
Variation |
Direct sales |
2
587 |
1 810 |
+43% |
Indirect sales |
1
053 |
990 |
+6% |
Subcontracting Sales |
2
212 |
1
836 |
+20% |
Total Sales* |
5 852 |
4 636 |
+26% |
*excluding the impact of IFRS 15
In 2022, the Group's revenues reached €5,852
thousand, up 26%, mainly due to strong growth in direct sales by
Safe Orthopaedics, up 43%, and in subcontracted production sales by
Safe medical, up 20%.
Direct sales by Safe Orthopaedics were up 43% to
€2,587 thousand, with significant growth in France (up 21% to
€1,385 thousand), the United Kingdom (up 25% to €160 thousand) and
the United States (up 534% to €653 thousand). Germany experienced a
9% decline, due to the unavailability of part of the sales
team.
Internationally, the recovery in activity is
returning with a still limited increase in sales of 6% to €2,212
thousand, given the multiple local confinements still observed.
Safe medical's sales growth, up 20% compared
with 2021, is experiencing its strongest growth since its
integration, by focusing on its most significant partners. The
investments in clean rooms made in 2021 and in production in 2022
will ensure significant growth for this industrial activity.
It should be noted that the internalization of
the production of Safe Orthopaedics kits by Safe medical has been
finalized in 2022 and will ensure control of the margin and a
working capital requirement correlated to the growth of Safe
Orthopaedics sales..
In thousands eurosNon audited figures |
Q1 2022(3 months) |
Q2 2022(3 months) |
Q3 2022(3 months) |
Q4 2022(3 months) |
Direct sales |
585 (+34%) |
595 (+59%) |
707 (+40%) |
700 (+43%) |
Indirect sales |
343 (+33%) |
223 (-25%) |
249 (0%) |
245 (+32%) |
Subcontracting Sales |
490 (+26%) |
615 (+49%) |
441 (+5%) |
664 (+8%) |
Total Sales* |
1 418 (+31%) |
1 433 (+32%) |
1 397 (+19%) |
1 610 (+24%) |
*excluding the impact of IFRS 15
"2022 ends with double-digit growth and a record
quarter of €1.6M in sales driven by our two entities Safe
Orthopaedics and Safe Medical. As a pioneer and leader in
ready-to-use products, we are also proud to announce the 25,000th
surgical kit sold and more than 120 sycamore cases with very
promising clinical results at 12 months," commented Pierre
Dumouchel, Chairman and CEO of Safe Group. "After two years of
investment in our Safe Medical production sites, we are entering
2023 with confidence. Our technologies are now 100% produced
in-house, eliminating any risk of disruption during the growth
phase. In addition, the worldwide launches of Sycamore and Hickory,
our partnership with Wenzel in the USA and the development of SORA
offer us solid growth prospects in a global market that is
increasingly receptive to the benefits of Ready-to-Use.
The cash position at December 31, 2022 was €0.1
million (unaudited figures). As a reminder, the maximum remaining
balance of the financing under the Alpha Blue Ocean OCEANE program
amounts to €0.8 million.
It is reminded that the press release published
on December 10, 2021 underlines the risks inherent to this type of
financing, which is potentially highly dilutive.
About Safe Group
Safe Group is a French medical technology group
that brings together Safe Orthopaedics, a pioneer in ready-to-use
technologies for spine pathologies, and Safe Medical (formerly LCI
Medical), a medical device subcontractor for orthopaedic surgery.
The group employs approximately 150 people.
Safe Orthopaedics develops and manufactures kits
combining sterile implants and single-use instruments, available at
any time to the surgeon. These technologies are part of a minimally
invasive approach aimed at reducing the risks of contamination and
infection, in the interest of the patient and with a positive
impact on hospitalization times and costs. Protected by 18 patent
families, SteriSpineTM kits are CE marked and FDA approved. Safe
Orthopaedics is headquartered in the Paris region (95610
Eragny-sur-Oise) and has subsidiaries in the United Kingdom,
Germany, the United States, and the Lyon region
(Fleurieux-sur-l'Arbresle).
For more information:
http://www.safeorthopaedics.com/
Safe Medical produces implantable medical
devices and ready-to-use instruments. It has an innovation center
and two production sites in France (Fleurieux-sur-l'Arbresle,
69210) and in Tunisia, offering numerous industrial services:
design, industrialization, machining, finishing and sterile
packaging. Supported by the French stimulus plan in 2020, the
company invests in additive printing and will be operational in
2022 on this new technology.
For more information:
http://www.safemedical.fr/
Contacts
Safe
Group
François-Henri Reynaud
Chief Financial and Administrative Officer
Tél. : +33 (0)1 34 21 50
00
investors@safeorthopaedics.com
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