Organic growth of 20% of the revenue as of June 24
15 July 2024 - 5:00PM
UK Regulatory
Organic growth of 20% of the revenue as of June 24
Press
release Ecully,
July 11, 2023 – 6 p.m.
First-half 2023 revenue of €5.4 million
(+75%)
- Continued ramp-up of Distimp products
- Strong sales growth in Europe
In thousands of euros
Unaudited data |
2023 |
2022 |
% change
2023/2022 |
Q1 revenue |
2,399 |
1,342 |
+79% |
Q2 revenue |
3,033 |
1,770 |
+71% |
H1 revenue |
5,432 |
3,113 |
+75% |
Spineway’s total revenue for the
first half of 2023 was €5.4 million, up 75% compared with the first
half of 2022. Growth was driven mainly by the contribution of sales
of Spine Innovations, acquired in July 2022. However, organic
growth1
remained sustained, representing 12% in the first half
of 2023, thanks to the steep increase in Distimp sales (+66%),
demonstrating the momentum spurred by the Group’s commercial
activity over the period.
In Latin America, Spineway
benefited from a catch-up in sales in the second quarter, enabling
it to record revenue of €1.5 million for the first half of 2023
(28% of Group revenue). This includes initial sales of Spine
Innovations products, now approved in Mexico.
In Europe, growth continued,
driven by sales of Distimp and Spine Innovations products. This
geography, now the largest contributor to Group revenue (48% of the
total), reported €2.6 million over the first half of 2023 (vs €0.9
million in H1 2022). This strong growth, which will smooth out
over the second half, perfectly illustrates the Group’s strategy of
strengthening its positions in higher-margin countries with Premium
ranges.
Asia and the Middle
East represented cumulative revenue of €1.3 million in the
first half of 2023.
On the strength of this solid start
to the year, Spineway aims to pursue its commercial development and
regulatory procedures dedicated to the approval of Spine
Innovations and Distimp products for export. In line with its
strategy, the Spineway Group is consolidating its positions and
confirming its aim of becoming a leading international player in
the spinal implant sector.
Next event:
September 19, 2023 – H1 2023 results
SPINEWAY IS ELIGIBLE FOR PEA-SME
(EQUITY SAVINGS PLANS FOR SMES)
Find out all about Spineway at
www.spineway.com
This press release has been prepared in both
English and French. In case of discrepancies, the French version
shall prevail.
Spineway
designs, manufactures and markets innovative implants and surgical
instruments for treating severe disorders of the spinal
column.
Spineway has an international network of over 50
independent distributors and 90% of its revenue comes from
exports.
Spineway, which is eligible for investment through
FCPIs (French unit trusts specializing in innovation), has received
the OSEO Excellence award since 2011 and has won the Deloitte Fast
50 award (2011). Rhône Alpes INPI Patent Innovation award (2013) –
INPI Talent award (2015).
ISIN: FR001400BVK2 -
ALSPW
Contacts:
SPINEWAY
Shareholder-services line
Available Tuesday through Thursday
+33 (0)806 706 060 |
Eligible PEA PME
ALSPW
Euronext Growth
|
AELIUM
Finance & Coomunication
Investor relations
Solène Kennis
spineway@aelium.fr |
1 Adjusted for the contribution of Spine Innovations in
H1 2023
- 2023_07_11_CP_SPW_CAS12023_ENG_VD