Amplitude Surgical

Earnings Release • Apr 21, 2022

Amplitude Surgical – Consolidated 9-month sales of €77.3 million, up 4.0% at constant exchange rates

• Consolidated sales of €77.3 million, +4.0% at constant exchange rates
• Sales from knee and hip activity stable, +0.1% at constant exchange rates
• Further growth in Novastep's activity, +29.9% at constant exchange rates

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

Olivier Jallabert, Amplitude Surgical's CEO, commented: "During the first 9 months of our 2021-22 financial year, Amplitude Surgical posted sales growth of 4.0% at constant exchange rates. However, the Group's business continued to be negatively affected by the public health situation associated with the COVID-19 pandemic on a large part of its markets. Health restrictions and cancelled operations, as well as the reduced availability of operating rooms and medical staff, slowed the Group's sales momentum. In March, we saw a gradual return to a more normal level of activity on the French market. Novastep, meanwhile, has continued its development and accounts for approximately 16.4% of Group sales, with growth of 29.9% over the period".

9M 2021-22 sales	31/03/2022	31/03/2021	Δ at current exchange rates	Δ at constant exchange rates
€ thousands - IFRS
Knee and hip activity	64,565	63,980	0.9%	0.1%
Feet and ankles (Novastep)	12,690	9,531	33.1%	29.9%
Total	77,255	73,511	5.1%	4.0%
Q3 2021-22 sales			Δ at current	Δ at constant
€ thousands - IFRS	31/03/2022	31/03/2021	exchange rates	exchange rates
Knee and hip activity	24,378	23,908	2.0%	0.7%
Feet and ankles (Novastep)	4,778	3,693	29.4%	24.9%

Sales by activity

Over the first 9 months of its 2021-22 financial year (to end-March 2022), Amplitude Surgical recorded sales of €77.3 million, up 5.1% in actual terms and 4.0% at constant exchange rates.

In the third quarter of its 2021-22 financial year (from January to March 2022), Amplitude Surgical generated sales of €29.2 million, up 5.6% in actual terms and 4.0% at constant exchange rates. During the quarter, the Group's business was again significantly impacted by the public health situation, and notably the fifth wave of the COVID-19 pandemic in France and across Europe in January and February.

• Knee and hip activity was stable, with sales up 0.9% in actual terms and +0.1% at constant exchange rates, in line with the level of activity seen during the first 6 months of the year. Globally, the health situation observed over the period and the lack of availability of operating rooms and medical staff are continuing to have a substantial negative impact on activity.
• Novastep, innovative solutions for foot and ankle surgery, recorded strong growth over the first 9 months of the year, with sales totaling €12.7 million (+29.9% at constant exchange rates). Novastep's activity now accounts for 16.4% of all Group sales.

9M 2021-22 sales	31/03/2022	31/03/2021	Δ at current exchange rates	Δ at constant exchange rates
€ thousands - IFRS
France	50,311	48,389	4.0%	4.0%
International	26,944	25,122	7.3%	3.9%
of which: Subsidiaries	20,811	19,215	8.3%	4.0%
of which: Distributors	6,133	5,907	3.8%	3.8%
Total	77,255	73,511	5.1%	4.0%

Sales by geographical region

Q3 2021-22 sales	31/03/2022	31/03/2021	Δ at current exchange rates	Δ at constant exchange rates
€ thousands - IFRS
France	19,809	18,775	5.5%	5.5%
International	9,347	8,827	5.9%	0.7%
of which: Subsidiaries	6,986	6,758	3.4%	-3.4%
of which: Distributors	2,361	2,068	14.2%	14.1%
Total	29,156	27,602	5.6%	4.0%

From a geographical perspective, sales evolved as follows:

• On the French market, cumulative sales to the end of March totaled €50.3 million, up 4.0%. Despite the posted growth, activity continued to be negatively impacted by the health situation associated with COVID-19 for most of the first 9 months of the year. Since the start of March, the gradual improvement in the public health situation in France has allowed a return to a more normal level of activity. France accounted for 65% of total Group sales;
• The Group's international activity generated sales of €26.9 million, up 7.3% in actual terms and 3.9% at constant exchange rates thanks to the Group's international subsidiaries. The Group's subsidiaries recorded sales growth of 8.3% in actual terms to €20.8 million thanks to the considerable increase in Novastep's foot and ankle activity in the United States. Business with the Group's distributors increased by 3.8% to €6.1 million;
• Amplitude Surgical's direct business (French market and international subsidiaries), which accounted for almost 92% of the Group's total sales, generated growth of 4.0% at constant exchange rates;

Next press release

2021-22 full-year sales, on Thursday July 21, 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, 2021, Amplitude Surgical had a workforce of 443 employees and recorded sales of nearly 95.5 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