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Safe Orthopaedics SA (ALSAF.PA)

Paris - Paris Delayed price. Currency in EUR
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0.4440+0.0010 (+0.23%)
At close: 5:35PM CEST
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Previous close0.4430
Open0.4490
BidN/A x N/A
AskN/A x N/A
Day's range0.4310 - 0.4490
52-week range0.2001 - 1.4900
Volume136,492
Avg. volume1,442,795
Market cap572,782
Beta (5Y monthly)2.49
PE ratio (TTM)N/A
EPS (TTM)-15.3850
Earnings dateN/A
Forward dividend & yieldN/A (N/A)
Ex-dividend dateN/A
1y target estN/A
  • Globe Newswire

    Safe Orthopaedics announces its 2020 financial results

    Revenues for 2020 of €3.7M, 23% decrease Reduction of external loads of 36%Improvement in operating income of 10%.Cash flow of €4.7M Éragny-sur-Oise, France, on April 30th, 2021, 5:35 pm CET – Safe Orthopaedics (FR0013467123 – ALSAF), holding of the Safe Group (composed of Safe Orthopaedics, a company specializing in the design, manufacturing and marketing of single-use technologies for spinal surgeries, and Safe Medical (Ex-LCI medical), integrated subcontractor for orthopedic medical devices, today announces its 2020 commercial and financial performance. The 2020 Annual Financial Report of Safe Orthopaedics will be available on the website of the Company (www.SafeOrthopaedics.com), under heading Investors > Documentation > Documents and publications, as from April 30, 2020. Thousands of euros – IFRS31/12/202031/12/2019GrowthRevenues – Direct sales1 9552 109-7,3%Revenues – Indirect sales1 6232 683-39,5%Total revenues3 6854 792-23%Cost of goods sold and inventory variation(2 259)(3 420)-34%External loads(2 081)(3 257)-36%Personnel expenses(5 443)(4 633)+17,5%Other operating charges(569)(939)-39,4%Recurring operating income(6 667)(7 456)-10,6%Other operating income and charges18 Operating income(6 666)(7 449) Financial result-1 640-521 Net Income(8 306)(7 970) In 2020, revenues were €3,685k, down 23% due to the impact of the pandemic in 2020 and the impact of IFRS 15, which deducts directly the costs of sales agents from revenues. The control of the Group's expenses has enabled it to reduce purchases and external charges by 34% and 36% respectively, despite the integration of Safe Medical for 5 months in the consolidated accounts and the continuation of major technological developments such as SORA, announced on January, 4th 2021. The strengthening of the sales force in 2019 has impacted the 2020 accounts by +17% compared to the previous year, allowing the maintenance of an operational sales force explaining a strong recovery of sales in Q1 2021 in recovering areas such as Germany where sales are up 121% compared to Q1 2019. Operating profit, which improved by nearly €800k in a year impacted by a contraction in sales and a global pandemic, reflects a control of costs while maintaining a capacity for commercial rebound as the crisis ends. All this while structuring a group with a strong capacity for innovation with the creation of the Centre for Innovation and Industrial Production (CIPI) in Lyon which will be inaugurated in September 2021. After a negative financial result of €1.6m, made up of the costs of financing the depreciation of the current accounts of the British subsidiary, the net result was €8.3m. " 2020 was significantly impacted by the sanitary crisis. The lockdown measures and the reduction of elective surgeries have limited our commercial actions and consequently led to a decrease in our turnover. Historically, the company has delivered double-digit growth and we remain confident that we will return to accelerated growth as early as the second quarter of 2021. At the same time, thanks to rigorous management, we have reduced our external and operational costs, enabling us to improve our operating profit by 10%. The refinancing of the group to the tune of almost €10M by ABO and state support in the last quarter of 2020 strengthens our ability to innovate and deploy internationally” comments Pierre Dumouchel, Chairman and CEO of the Safe Group "2021 is definitely a different year. Offering new technologies and re-inventing our Ready-to-use model is a priority. The construction of our innovation and integrated production site in Fleurieux, the development of SORA, the CE marking of new technologies in the coming days are important steps for our group. Finally, the growing adoption of ready-to-use technologies worldwide, including in the United States, reinforces our potential for double-digit growth by the summer and a clear improvement in our financial results in 2021. " Cash flow With a significant refinancing of €8.4m on Safe Orthopaedics at the end of the year and the receipt of a €0.8m stimulus grant and a €0.5m innovation loan from BPIfrance to Safe Medical, the group's cash position stood at €4.7m on 20 April 2021. Agenda Financial Communication Date1Turnover 1st half 20215 July 2021Results 1st half 2021 30 September 2021Turnover 3rd quarter 2021 07 October 2021Turnover 2021 13 January 2022 About Safe Group Safe Group is a French medical technology company, composed of Safe Orthopaedics, pioneer of ready-to-use technologies for spinal diseases and Safe Medical (ex-LCI medical), subcontractor of medical devices for orthopaedics surgery. The Group employs around 150 employees. Safe Orthopaedics develops and manufactures kits combining sterile implants and single-use instruments, available at any time for the surgeon. These technologies enable minimally invasive approach, reducing the risk of cross contamination and infection, in the interest of the patient with a positive impact on hospitalization durations and costs. Protected by 17 patent families, the SteriSpineTM PS are CE marked and FDA approved. Safe Orthopaedics has its headquarters close to Paris (95610 Eragny-sur-Oise - France) and subsidiaries in the UK, Germany, United States and in the Lyon area where the manufacturing company is located. For more information: www.SafeOrthopaedics.com Contacts Safe Orthopaedics François-Henri Reynaud Chief Financial and Administrative Officer Tél. : +33 (0)1 34 21 50 00 investors@safeorthopaedics.com Press RelationsUlysse CommunicationPierre-Louis Germain / +33 (0)6 64 79 97 61 / plgermain@ulysse-communication.com Bruno Arabian / +33 (0)6 87 88 47 26 / barabian@ulysse-communication.com 1 Note (*): Any publication will be made after market close. Information subject to change. Attachment PR 20210430

  • Globe Newswire

    Safe Orthopaedics announces a €1,1M turnover for the first quarter of 2021 despite the Covid-19 sanitary crisis

    Flat group sales compared to Q1 2020 121% sales growth in Germany Back to direct sales growth in March 53% Covid-19 Impact on indirect sales 4,8M€ in cash at March 31st,2021 Éragny-sur-Oise, France, on April 8th, 2021, 5 :35 pm CET – Safe Orthopaedics (FR0013467123 – ALSAF), holding of the Safe Group (composed of Safe Orthopaedics, a company specializing in the design, manufacturing and marketing of single-use technologies for spinal surgeries, and Safe Medical (Ex-LCI medical), integrated subcontractor for orthopaedic medical devices, today announces its turnover for the first quarter of 2021 and its cash position. In thousands eurosQ1 2021Q1 2020Growth(3 months)(3 months)Direct sales (FR, All, R-U)818 528 55%Indirect sales258 551 -53%SO total sales1,077 1,079 0% On the first quarter 2021, the sale of the group were €1,077k, stable compared to the first quarter of 2020, despite the sanitary crisis that impacted the whole quarter, contrary to the previous year. Despite the restriction measures and the postponement of surgeries in France, United Kingdom and Germany, direct annual sales grew by 55%, with heterogeneous performances depending on the country: while the United Kingdom showed a 69% contraction in sales due to strict confinement in the first quarter, Germany showed a growth of 121% despite a constrained health context. The growth in direct sales is explained on one hand by the market penetration of SterispineTM PS 2nd generation launched in 2020 and on the other hand by the acquisition of LCI Medical acquired in July 2020 and renamed Safe Medical in January 2021. The underperformance of indirect sales, down by more than 50%, still reflects an international situation impacted by the health crisis. In thousands eurosJan-Fev 2021Jan-Fev 2020 Jan-Fev 2020/2021March-21March-20 March 2020/2021 Direct sales (FR, All, R-U)471 377 25%347 152 129% Indirect sales190 407 -53%69 144 -52% SO total sales661 784 -16%416 296 41% An analysis of the distribution of growth over the first quarter shows that while the counter-performance of indirect sales was fairly uniform over the quarter, an acceleration of growth can be seen in March, from direct sales. "This first quarter of 2021 is still impacted by the sanitary crisis, limiting our commercial actions and the reactivity of our industrial partners. In January and February, the total confinement in the UK and the reinforced confinement in France, contracted our sales even if we note an improvement in March. At the same time, the German restructuring carried out at the beginning of 2020 is bearing fruit, enabling us to record very strong growth of 121% in the largest European market. The loss of revenue from Safe Orthopaedics' indirect business was fully offset by sales of Safe Medical, which also contributed to the improvement in our margins” comments Pierre Dumouchel, chairman and co-founder of Safe Orthopaedics. « Offering new technologies and re-inventing our Ready-to-use model is a priority since April 2020. The construction of our innovation and integrated production site in Fleurieux, the development of SORA, and the CE marking of new technologies as of April are important steps for our group. Finally, the growing adoption of ready-to-use technologies worldwide, including in the United States, confirms our potential for double-digit growth by the summer of 2021. » Cash flows With a significant refinancing of €8.4 million at Safe Orthopaedics at the end of the year, and the receipt of a €0.8 million grant from the French stimulation plan and a €0.5 million innovation loan from BPIfrance to Safe Medical, the Group's cash position on March 31, 2021 was €4.9 million. Financial Agenda Financial CommunicationDate12020 Annual financial results April 23rd, 20212021 1st semester turnover July 5th, 20212021 1st semester financial resultsSeptember 30th, 20212021 3rd quaterly turnover October 7th, 20212021 2nd semester turnoverJanuary 13th, 2022 About Safe Group Safe Group is a French medical technology company, composed of Safe Orthopaedics, pioneer of ready-to-use technologies for spinal diseases and Safe Medical (ex-LCI medical), subcontractor of medical devices for orthopaedics surgery. The Group employs around 150 employees. Safe Orthopaedics develops and manufactures kits combining sterile implants and single-use instruments, available at any time for the surgeon. These technologies enable minimally invasive approach, reducing the risk of cross contamination and infection, in the interest of the patient with a positive impact on hospitalization durations and costs. Protected by 17 patent families, the SteriSpineTM PS are CE marked and FDA approved. Safe Orthopaedics has its headquarters close to Paris (95610 Eragny-sur-Oise - France) and subsidiaries in the UK, Germany, United States and in the Lyon area where the manufacturing company is located. For more information: www.SafeOrthopaedics.com Contacts Safe Orthopaedics François-Henri Reynaud Chief Financial and Administrative Officer Tél. : +33 (0)1 34 21 50 00 investors@safeorthopaedics.com Press RelationsUlysse CommunicationPierre-Louis Germain / +33 (0)6 64 79 97 61 / plgermain@ulysse-communication.com Bruno Arabian / +33 (0)6 87 88 47 26 / barabian@ulysse-communication.com 1 Note (*): All publications will be published after market. Information subject to change. Attachment PR 20210408

  • Globe Newswire

    Safe Group and the american company SpineUp announce the signature of a technological co-development agreement

    Development of a full innovative range of implants for lumbar discopathies, US commercial launch aimed for the end of 2021 and obtaining of CE-marking in 2022 First collaborative project industrialized in the Integrated Manufacturing Company of Safe Group in Fleurieux-sur-l’Arbresle Éragny-sur-Oise, France, on 10 February 2021, 17h35 CET – Safe Orthopaedics (FR0013467123 – ALSAF), holding of the Safe Group (composed of Safe Orthopaedics, a company specializing in the design, manufacturing and marketing of single-use technologies for spinal surgeries, and Safe Medical (Ex-LCI medical), integrated subcontractor for orthopaedic medical devices, today announces the signature of a technological co-development agreement with the American company SpineUp Inc. The treatment for lumbar discopathies is constantly evolving : miniaturization of incisions, multiple surgical approaches, PEEK machined or titane printed implants… and the surgeons wish to have the best options to best treat their patients. Since several quarters, Safe Orthopaedics works on the extension of its SteriSpine LC range, in order to offer a maximum of ready-to-use options. “3 years ago I decided to begin using Safe Orthopaedics’ ready-to-use products in order to enhance the efficiency of my OR team and improve the outcomes for my patients. In collaboration with the Safe Orthopaedics team, I have seen the benefits that the ready-to-use concept can bring to my practice and have been delighted with the clinical results. Surgeons need different options for the disc diseases treatment and I’m proud to collaborate in order to develop their portfolio of products, to expand their SteriSpineLC range and bring the benefits of the ready-to-use model to many more treatment pathways.” explains Dc John Choi… The co-development strategy is a way to minimize conception costs, and to accelerate the commercial launch and clinical evoluation today requested by the new european regulation. SpineUp, a manufacturer of medical devices for spinal surgery established in Florida, already customer of Safe Medical, shares the same interest as Safe Orthopaedics. Together, both companies aim a commercial launche and several other strategical territories by the end of 2021, the achievement of a clinical evaluation, necessary for the CE-marking, in 2022, and any other international homologations. This co-development is perfectly in line with the strategy of Safe Group, which places at disposal its Integrated Manufacturing Company. Funded by the Recovery Plan and by BPIFrance on its innovation projects, Safe Medical continues extension of its French site, where additive manufacturing and sterile packaging of medical device will be conducted, in addition to machining and finishing. “This partnership between manufacturers is an innovation accelerateur. By mutualizing our research and development efforts, our companies, SpineUp and Safe Group, will quickly have a large innovative range of implants for the treatment of lumbar discopathies, while keeping our unique indentities on instrument technologies. For this reason, Safe Orthopaedics works closely on its ready-to-use instrument technologies SteriSpine LC with a group of international surgeons in order to respond to different surgical approaches”, Pierre Dumouchel, President and Chief Executive Officer of Safe Group, explains. About Safe Group Safe Group is a French medical technology company, composed of Safe Orthopaedics, pioneer of ready-to-use technologies for spinal diseases and Safe Medical (ex-LCI medical), subcontractor of medical devices for orthopaedics surgery. The Group employs around 150 employees. Safe Orthopaedics develops and manufactures kits combining sterile implants and single-use instruments, available at any time for the surgeon. These technologies enable minimally invasive approach, reducing the risk ofcross contamination and infection, in the interest of the patient with a positive impact on hospitalization durations and costs. Protected by 17 patent families, the SteriSpineTM PS are CE marked and FDA approved. Safe Orthopaedics has its headquarters close to Paris (95610 Eragny-sur-Oise - France) and subsidiaries in the UK, Germany, United States and in the Lyon area where the manufacturing company is located. For more information: www.SafeOrthopaedics.com Contacts Safe Group François-Henri Reynaud Chief Financial and Administrative Officer Tél. : +33 (0)1 34 21 50 00 investors@safeorthopaedics.com Press RelationsUlysse CommunicationPierre-Louis Germain / +33 (0)6 64 79 97 61 / plgermain@ulysse-communication.comBruno Arabian / +33 (0)6 87 88 47 26 / barabian@ulysse-communication.com Attachment PR 21-02-10