EQS Group-Ad-hoc: Medacta Group SA / Key word(s): Sales Result
Press Release - Ad-hoc announcement pursuant to Art. 53 LR
Medacta Group SA reports 35.4% growth at constant currency of half-year revenue and revises upward the revenue target for 2021
- 1H 2021 revenue increased to Euro 177.5 million, or 35.4% at constant currency (31.7% reported) vs 1H 2020.
- The growth was driven by significant carry-over and customer acquisition, in addition to faster-than-expected normalization of surgery activities, with positive contributions from all business lines and geographies.
- Innovation continued with 50+ new products registered, including CE-marking of the Knee, Shoulder and Spine Applications of the NextAR Augmented Reality Surgical Platform.
- The positive performance and the business outlook allow to revise upward our revenue target for 2021 within a range of Euro 355 million to Euro 375 million at constant currency, compared to the previous range of Euro 333 million to Euro 348 million, subject to any unforeseen events, specifically from the Covid-19 pandemic.
CASTEL SAN PIETRO, 20 July 2021 - Medacta Group SA ("Medacta", SIX:MOVE) announces today first semester 2021 preliminary unaudited revenue.
Francesco Siccardi, CEO of Medacta, commented: "I am really satisfied with the revenue performance achieved in the semester that was driven not only by surgery volumes, but also by the execution of our growth strategy, which continued in 2020 despite the challenging conditions, through the launch of new products, the hiring of salesforce and our continuous medical education programs. The positive semester performance and the business outlook in the remainder of the year allow us to revise upward our revenue guidance for 2021" concluded Francesco Siccardi.
In the first semester 2021 innovation continued and over 50 new products across all our business lines were registered, including entry in new geographies. In June 2021, the first surgeries based on our NextAR Augmented Reality (AR) Surgical Platform were performed in Europe, following the CE-marking of the Knee, Shoulder and Spine Applications. Also, in May 2021, the NextAR Shoulder Application received FDA clearance, further expanding the U.S. NextAR offering, which already included the Knee Application, FDA-cleared in 2020. NextAR enhances our MySolutions Ecosystem, empowering our holistic approach to personalized medicine, and has the potential to improve surgical accuracy. Thanks to its limited upfront capital investment and reduced cost per case compared to other technologies, the platform enhances healthcare system sustainability worldwide. The engineered design has the great advantage of utilizing a single platform for all procedures for both joint replacement and spine applications, allowing for a lean logistics and hardware management. These are key benefits in particular for US Ambulatory Surgery Centers (ASCs).
In the first semester 2021 we had a positive revenue contribution from all business lines and geographies.
Revenue from our Hip products increased to Euro 88.4 million, or 30.7% on a constant currency basis; the good momentum was generated by the acquisition of new customers through the AMIS strategy supported by the roll-out of new products.
Revenue from our Knee offerings were Euro 63.4 million, an increase of 38.4% on a constant currency basis, thanks to the continuous customer acquisition on personalized solutions and GMK Sphere platform.
Our Extremities business line reported an increase in revenue of 56.8% on a constant currency basis to Euro 9.1 million, mainly thanks to the completeness of the Medacta Shoulder System supported by personalized solutions and the expansion of the Sports Med product offer.
Revenue from our Spine offering increased by 39.5% on a constant currency basis to Euro 16.6 million, driven by newly launched products, innovative technologies, and salesforce expansion.
Below we report the first semester 2021 sales break-down by product line:
In terms of geographic trend, revenue in Europe registered a growth of 29.4% on a constant currency basis to Euro 76.2 million. France, Italy and Belgium, the countries most affected by Covid-19 in the first semester 2020, recorded the strongest growth, followed by the "DACH" (Germany, Austria, and Switzerland).
Revenue in North America increased to Euro 52.5 million, or 44.3% on a constant currency basis, thanks to our customer acquisition, salesforce expansion and increased activity level in ASCs.
Revenue in RoW were Euro 5.7 million, an increase of 49.4% on a constant currency basis, thanks to restart of purchases from stocking distributors and the creation of new distributors in the Middle East and Eastern Europe.
Below we report the first semester 2021 sales break-down by geographic area:
These preliminary sales figures are unaudited for the periods ending June 30 of 2021 and are therefore subject to change. The Company expects to announce its 2021 Half-Year Results on September 10, 2021.
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End of ad hoc announcement
|Company:||Medacta Group SA|
|6874 Castel San Pietro|
|Phone:||+41 91 696 6060|
|Listed:||SIX Swiss Exchange|
|EQS News ID:||1220051|
|End of Announcement||EQS Group News Service|
1220051 20-Jul-2021 CET/CEST