Amplitude Surgical

Earnings Release • Feb 18, 2021

Amplitude Surgical – H1 2020-21: Sales down 5.3% at constant exchange rates

• Consolidated sales of €45.9 million, -5.3% at constant exchange rates
• Activity impacted by the COVID-19 pandemic: France -2.6%, International -9.6% at constant exchange rates
• Further growth in Novastep's activity: +25.1% at constant exchange rates

Valence, February 18, 2021, 6:00 pm CET - 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 first half of its 2020-21 financial year.

Olivier Jallabert, Amplitude Surgical's CEO, commented: "In the first half of our 2020-21 financial year, Amplitude Surgical's activity was impacted, in the second quarter, by the deterioration in the public health situation associated with COVID-19 on the majority of its markets and by the adoption of restrictions on access to operating rooms. As a result, the Group's activity was down by 5.3% at constant exchange rates compared with the previous year. Novastep has continued its development, and now accounts for approximately 13% of Group sales, with growth of almost 25% at constant exchange rates. Despite the COVID-19 impact, the Group is in a solid financial position and intends to seize any external growth opportunities by looking into openings to acquire rival companies or agents".

H1 2020-21 sales	6 months to	6 months to	Change at current	Change at constant
In €k - IFRS	31/12/2020	31/12/2019	exchange rates	exchange rates
France	29,615	30,404	-2.6%	-2.6%
International	16,295	19,429	-16.1%	-9.6%
o/w subsidiaries	12,457	14,363	-13.3%	-4.4%
o/w distributors	3,839	5,066	-24.2%	-24.3%
Total	45,910	49,833	-7.9%	-5.3%

Q2 2020-21 sales In €k - IFRS	3 months to 31/12/2020	3 months to 31/12/2019	Change at current exchange rates	Change at constant exchange rates
France	15,468	18,313	-15.5%	-15.5%
International	8,859	10,684	-17.1%	-10.4%
o/w subsidiaries	6,938	7,549	-8.1%	1.3%
o/w distributors	1,921	3,136	-38.7%	-38.7%
Total	24,327	28,997	-16.1%	-13.7%

Over the first half of its 2020-21 financial year (from July to December 2020), Amplitude Surgical recorded sales of €45.9 million, down 7.9% in actual terms and 5.3% at constant exchange rates.

• On the French market, Amplitude Surgical recorded a 2.6% fall in H1 sales to €29.6 million, impacted by the second wave of the COVID-19 pandemic in the second quarter of the Group's financial year (October – December 2020) and the adoption of restrictions on access to operating rooms from October 2020. France accounted for 64% of total sales;
• The Group's international activity generated sales of €16.3 million, down 16.1% in actual terms and 9.6% at constant exchange rates. The Group's subsidiaries recorded a 13.3% decrease in sales to €12.5 million, subsidiaries' activity notably being impacted by the public health situation associated with COVID-19 in Brazil, Germany and Australia. Activity with distributors also weakened, falling 24.2% to €3.8 million;
• Amplitude Surgical's direct business (French market and international subsidiaries), which accounted for close to 92% of the Group's total sales, slipped 3.1% at constant exchange rates;
• Sales generated by Novastep, innovative solutions for foot and ankle surgery, continued to grow in the first half and totaled €6.1 million (+25.1% at constant exchange rates), driven by the United States (+42.0% at constant exchange rates). Novastep now accounts for approximately 13% of the Group's sales.

Next press release

H1 2020-21 results, on Wednesday March 24, 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