Safe group announces revenues of €1.5 million in Q1 2023
14 April 2023 - 6:52AM
Safe group announces revenues of
€1.5 million in Q1 2023
- Safe Group consolidated sales
up +6%.
- Safe Orthopaedics sales up
strongly in France by +45% and in the UK by +25%
- Safe Medical sales up
+20%.
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Éragny-sur-Oise,
Fleurieux-sur-l'Arbresle, April 13th, 2023 at 5:45 p.m. CET
- Safe (ALSAF), a company specializing in the design,
manufacture and marketing of ready-to-use technologies for back
surgery, particularly safe for spinal fractures treated in
emergency (the "Company") announces its first quarter 2023 revenues
and cash position.
In thousands euros |
Q1 2023(3 months) |
Q1 2022(3 months) |
2023/2022 |
Safe
Orthopaedics |
915 |
928 |
-1% |
Safe
Medical |
590 |
490 |
+20% |
Total Safe Group |
1 505 |
1 418 |
+6% |
In the first quarter of 2023, the Safe Group's
revenue was €1505k, showing growth of +6% compared with the first
quarter of 2022.
Safe Orthopaedics sales were stable at €915k,
compared with €928k the previous year.
Direct sales amounted to €594k thanks to strong
commercial growth in France (+45%) and the UK (+25%). Indirect
sales contracted by 6% to €321k in the first quarter, explained by
the still limited post-covid investments by distributors.
Sales of new technologies amounted to €73K in
Q1. After their Franco-German evaluation, Sycamore and Hickory are
in full commercial roll-out and are awaiting their approvals in the
United States as well as their availability on indirect markets.
SORA is still being evaluated in France and should be deployed in a
German center in the second quarter.
Safe Medical's business grew by 20% to €590k
compared with the first quarter of 2022. This growth is mainly
generated by historical customers, who are repositioning Safe
Medical as a strategic supplier.
"First-quarter sales amounted to €1.5 million,
up thanks to the strong performance of Safe Orthopaedics in France
and the United Kingdom and the renewed confidence of Safe Medical's
long-standing customers. The new technologies and the partnership
with Wenzel should enable us to boost our commercial execution in
Germany and the United States, the largest European and global
markets respectively," commented Pierre Dumouchel, Chairman
and CEO and co-founder of Safe Orthopaedics. "Thanks to the
new financing agreement announced in March, we have initiated
structural changes that should enable us to reduce operating
expenses and working capital requirements while maintaining the
investments necessary for the commercial growth of our Safe
technologies and services.
Cash positionFollowing a
significant refinancing of Safe SA in the amount of nearly €30
million last March, paid in monthly instalments of €600 thousand
for the first four instalments and €500 thousand for the following
ones, the Group's unaudited cash position at March 31, 2023
amounted to €268k thousand. It is reminded that the press
release published on March 14, 2023 underlines the risks inherent
to this type of financing, which is potentially highly
dilutive. Financial Agenda
Communication financière |
Date1 |
Annual results 2022 |
April 28th 2023 |
2023 first semester revenues |
7 juillet 2023 |
First semester results and Q3 2023 sales |
10 octobre 2023 |
2023 annual sales |
10 janvier 2024 |
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
1 Note (*) : all publications will be made
after market close. Information subject to
modification.
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