Amplitude Surgical — Earnings Release 2022

Jul 21, 2022

Amplitude Surgical – consolidated annual sales of €104.8 million, up 8.2% at constant exchange rates

• Consolidated annual sales of €104.8 million, +8.2% at constant exchange rates
• Sales from knee and hip activity up 4.8% at constant exchange rates
• Further growth for Novastep (foot and ankle activity), +30.2% at constant exchange rates

Valence (France), July 21, 2022, 6 pm CEST - Amplitude Surgical (ISIN: FR0012789667, Ticker: AMPLI, eligible for PEA-PME plans), a leading French player on the surgical technologies market for lower-limb orthopedics, announces its consolidated sales for its 2021-22 financial year.

Olivier Jallabert, Amplitude Surgical's CEO, said: "The Amplitude Surgical group's annual sales for our 2021-22 financial year were up by 8.2% at constant exchange rates compared with the previous year. Nevertheless, for most of the year the Group's activity continued to be negatively affected by the public health situation associated with the COVID-19 pandemic on most of its markets. Health restrictions and cancelled operations, as well as the reduced availability of operating rooms and medical personnel, slowed the Group's sales momentum. Since March, we have seen a gradual return to near-normal activity on the French market. Novastep, meanwhile, has continued its development and now accounts for approximately 16.9% of Group sales, with growth of almost 30.2% over the period."

FY 2021-22 sales	30/06/2022	30/06/2021	Δ actual	Δ at constant currency
€ thousands - IFRS
Knee and hip activity	87,119	82,341	5.8%	4.8%
Feet and ankles (Novastep)	17,695	13,161	34.5%	30.2%
Total	104,815	95,502	9.8%	8.2%

Sales by activity

Q4 2021-22 sales € thousands - IFRS	30/06/2022	30/06/2021	Δ actual	Δ at constant currency
Knee and hip activity	22,813	18,608	22.6%	20.9%
Feet and ankles (Novastep)	4,747	3,382	40.4%	31.0%
Total	27,560	21,990	25.3%	22.4%

During the fourth quarter of its 2021-22 financial year (i.e. from April to June 2022), Amplitude Surgical recorded sales of €27.6 million, up 25.3% in actual terms and 22.4% at constant currency. This quarter's growth was primarily attributable to the ongoing growth of Novastep's activity and to a near-normal health situation in France for knee and hip activity over the quarter, a quarter that had been negatively impacted in 2020-21.

Over the 2021-22 financial year as a whole, Amplitude Surgical recorded sales of €104.8 million, an increase of 9.8% in actual terms and 8.2% at constant currency.

• Sales from Knee and hip activity were up by 5.8% in actual terms and 4.8% at constant currency. This growth was a result of activity returning to normal in France in the fourth quarter and of the growth generated in Brazil.

Nevertheless, over the year as a whole, the health situation and limited availability of operating rooms and medical personnel had a substantial negative impact on activity.

• Novastep, innovative solutions for foot and ankle surgery, generated strong growth over the year, with sales totaling €17.7 million (+30.2% at constant currency). Novastep's activity accounted for 16.9% of total Group sales.

FY 2021-22 sales	30/06/2022	30/06/2021	Δ actual	Δ at constant currency
€ thousands - IFRS
France	68,235	62,391	9.4%	9.4%
International	36,580	33,110	10.5%	6.0%
o/w subsidiaries	27,830	25,192	10.5%	4.6%
o/w distributors	8,750	7,919	10.5%	10.5%
Total	104,815	95,502	9.8%	8.2%

Sales by geographical region

Q4 2021-22 sales € thousands - IFRS	30/06/2022	30/06/2021	Δ actual	Δ at constant currency
France	17,924	14,002	28.0%	28.0%
International	9,636	7,988	20.6%	12.5%
o/w subsidiaries	7,018	5,977	17.4%	6.6%
o/w distributors	2,618	2,012	30.1%	30.1%
Total	27,560	21,990	25.3%	22.4%

By geographical region, sales evolved as follows:

• On the French market, annual sales totaled €68.2 million, up 9.4% on the previous year, thanks to a return to normal for knee and hip activity in the final quarter and to growth through the acquisition of new clients by Novastep on the French market. Despite this posted growth, activity was negatively impacted by the health situation associated with COVID-19 over much of the financial year and by the unavailability of operating rooms and medical personnel. France accounted for 65.1% of the Group's annual sales.
• The Group's international activity generated sales of €36.6 million, up 10.5% in actual terms and 6.0% at constant currency. The Group's subsidiaries recorded growth of 10.5% in actual terms to €27.8 million thanks to the strong growth in Novastep's foot and ankle activities in the United States. Activity with the Group's distributors increased by 10.5% to €8.8 million.
• Amplitude Surgical's direct business (French market and international subsidiaries), which accounts for almost 92% of the Group's total sales, increased by 8.0% at constant currency.

Next financial press release

2021-22 annual results, on Wednesday October 19, 2022, 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, 2022, Amplitude Surgical had a workforce of 460 employees and recorded sales of nearly 104.8 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