Spineway-Increase of 2023 revenue at €10.5 million

Ecully, January 25, 2024 –

2023 income of €10.5 million

* 2022 income consists of the share of income derived from Backbone Improvements since its consolidation on July 21, 2022, i.e. €1.7 million.

Spineway recorded income of €10.5 million in 2023, a rise of 42% in contrast with 2022. This progress was pushed by the robust gross sales efficiency of Distimp merchandise and the consolidation of income from Backbone Improvements, acquired in July 2022.

Europe stays the Group’s main business area (49% of income), with 2023 income of €5.2 million, up 78% in contrast with the earlier 12 months, because of Distimp and Backbone Improvements gross sales. These have strengthened the Group’s positions in France and Germany.

Income in Asia amounted to €1.7 million for the 12 months (+24% 12 months on 12 months) and was quickly penalized by the issues of the Australian distributor of disc prostheses and the tightening of laws (China and Vietnam). The approval in Indonesia of the VEOS¹ vary, designed for posterior strategy intervertebral fixation, ought to contribute to income in 2024.

In Latin America, full-year income amounted to €3.1 million in 2023, up 23% on the earlier 12 months. The Group expects to additional strengthen its positions within the area, notably with the approval in 2023 of the ESP prostheses in Mexico and the VEOS vary in Colombia. As well as, the granting of latest approvals in 2024 will result in additional gross sales progress for the Distimp and Backbone Improvements ranges.

Spineway achieved a great gross sales efficiency in 2023, in a typically unfavorable setting, and in addition stepped up its investments (regulatory, R&D and advertising and marketing) to organize for the approaching years. These bills will weigh on the annual monetary statements however ought to contribute to future progress. Spineway confirms its purpose of turning into an revolutionary participant in France and internationally, chief in much less invasive spine therapies.

                Subsequent occasions: February 7, 2024 – Annual outcomes for 2023

                               February 8, 2024 – Videoconference with the group administration

SPINEWAY IS ELIGIBLE FOR PEA-SME (EQUITY SAVINGS PLANS FOR SMES)
Discover out all about Spineway at www.spineway.com

This press launch has been ready in each English and French. In case of discrepancies, the French model shall prevail.

Spineway designs, manufactures and markets revolutionary implants and surgical devices for treating extreme issues of the spinal column.
Spineway has a world community of over 50 unbiased distributors and greater than 70% of its income comes from exports.
ISIN: FR001400BVK2 – ALSPW        

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1 Press launch of November 24, 2023