Amplitude Surgical

Earnings Release • Apr 22, 2021

Amplitude Surgical – consolidated 9-month sales of €73.5 million, down 1.8% at constant exchange rates

• Consolidated sales of €73.5 million, -1.8% at constant exchange rates
• Activity impacted by the COVID-19 pandemic, with an acceleration in the first half of April
• Further growth in Novastep's activity: +32.7% at constant exchange rates

Valence (France), April 22, 2021, 6:00 pm CEST - Amplitude Surgical (ISIN: FR0012789667, Ticker: AMPLI, eligible for PEA-PME plans) ("Amplitude" or the "Group"), leading French player on the global surgical technology market for lower-limb orthopedics, announces its sales for the third quarter of its 2020-21 financial year.

Olivier Jallabert, Amplitude Surgical's CEO, commented: "Amplitude Surgical's activity is continuing to be impacted on most of its markets following the deterioration in the public health situation associated with COVID-19, and notably the adoption of restrictions on access to operating rooms. As a result, the Group's activity was down by 1.8% at constant exchange rates compared with the same period last year, which saw an almost total shutdown in activity from mid-March 2020. During the first half of April 2021, we have observed an acceleration in the impact of the public health crisis, notably on our markets in France, Germany and Brazil. Novastep, meanwhile, is continuing its growth and now accounts for around 13% of the Group's sales, with growth of almost 33% at constant exchange rates over the first 9 months of the year".

Q3 2020-21 sales	31/03/2021	31/03/2020	Δ current exchange rates	Δ constant exchange rates
€ thousands - IFRS
France	18,775	17,721	5.9%	5.9%
International	8,827	8,895	-0.8%	2.1%
of which: Subsidiaries	6,758	6,253	8.1%	12.0%
of which: Distributors	2,068	2,641	-21.7%	-21.4%
Total	27,602	26,616	3.7%	4.7%

9M 2020-21 sales	31/03/2021	31/03/2020	Δ current exchange rates	Δ constant exchange rates
€ thousands - IFRS
France	48,389	48,125	0.5%	0.5%
International	25,122	28,324	-11.3%	-5.9%
of which: Subsidiaries	19,215	20,617	-6.8%	0.6%
of which: Distributors	5,907	7,707	-23.4%	-23.3%
Total	73,511	76,449	-3.8%	-1.8%

Over the first 9 months of its 2020-21 financial year (to end-March 2021), Amplitude Surgical recorded sales of €73.5 million, down 3.8% at current exchange rates and 1.8% at constant exchange rates.

For the third quarter of its 2020-21 financial year (from January to March 2021), Amplitude Surgical posted sales of €27.6 million, up 3.7% at current exchange rates and +4.7% at constant exchange rates. The Group's activity is continuing to be affected by the public health situation and the third wave of the COVID-19 pandemic, however the cumulative impact of this situation over the last three months was slightly below the estimated €4.2 million impact of the first wave of the pandemic in March 2020 that led to an almost total shutdown in the Group's activity.

• In France, cumulative sales to the end of March totaled €48.4 million, a slight increase of 0.6%. During the Group's current financial year, activity has been negatively impacted by the successive waves of the COVID-19 pandemic, while last year the estimated negative impact of €3.5 million was only recorded over the second half of March 2020. France thus accounts for 64% of sales;
• The Group's international activity generated sales of €25.1 million, down 11.3% at current exchange rates and 5.9% at constant exchange rates. The Group's subsidiaries recorded a slight increase of 0.6% at constant exchange rates, to €19.2 million. These subsidiaries were notably negatively impacted by the public health situation associated with COVID-19 in Brazil and Germany, while Novastep's activity in the United States increased. Activity with the Group's distributors fell by 23.4% to €5.9 million;
• Amplitude Surgical's direct business (French market and international subsidiaries), which accounts for almost 92% of total Group sales, increased by 0.6% at constant exchange rates;
• Novastep, innovative solutions for foot and ankle surgery, recorded further sales growth over the first nine months of the financial year to €9.5 million (+32.7% at constant exchange rates), driven by the United States (+62.0% at constant exchange rates). Novastep's activity now accounts for approximately 13% of total Group sales.

Next press release

2020-21 full-year sales, on Thursday July 22, 2021, after market.

About Amplitude Surgical

Founded in 1997 in Valence, France, Amplitude Surgical is a leading French player on the global surgical technology market for lower-limb orthopedics. Amplitude Surgical develops and markets high-end products for orthopedic surgery covering the main disorders affecting the hip, knee and extremities, and notably foot and ankle surgery. Amplitude Surgical develops, in close collaboration with surgeons, numerous high value-added innovations in order to best meet the needs of patients, surgeons and healthcare facilities. A leading player in France, Amplitude Surgical is developing abroad through its subsidiaries and a network of exclusive distributors and agents distributing its products in more than 30 countries. Amplitude Surgical operates on the lower-limb market through the intermediary of its Novastep subsidiaries in France and the United States. At June 30, 2020, Amplitude Surgical had a workforce of 436 employees and recorded sales of nearly 88 million euros.

Contacts:

Amplitude Surgical Dimitri Borchtch CFO finances@amplitude-surgical.com +33 (0)4 75 41 87 41

NewCap Investor Relations Mathilde Bohin/Thomas Grojean amplitude@newcap.eu +33 (0)1 44 71 94 94

NewCap Media Relations Nicolas Merigeau amplitude@newcap.eu +33 (0)1 44 71 94 98