Press Release – Ad-hoc announcement pursuant to Art. 53 LR
Medacta Group SA revenues grew 14.3% at constant currency1 in 1H 2024
CASTEL SAN PIETRO, 24 July 2024 – Medacta Group SA (“Medacta”, SIX:MOVE) announces today the first semester 2024 preliminary unaudited revenue.
In the first semester 2024 Medacta delivered robust organic growth, progressing with the acquisition of new customers across all geographies and business lines.
Francesco Siccardi, CEO of Medacta, commented: “This is a special year for Medacta. We are celebrating our 25th Anniversary with a World Tour featuring a series of scientific events, underscoring our commitment to sustainable innovation aimed at enhancing care, outcomes, and patient well-being. The excellent performance recorded in this semester (+14.3%) is even more relevant if we consider the extraordinary growth reached in 1H 2023 (+21.4%). This result confirms, once again, our ability to continuously outperform the orthopedic market.”
The Medacta 25th Anniversary celebration included the successful 10th M.O.R.E. International Symposium held in Switzerland, in April, followed by a World Tour hosting a series of global scientific events in Australia and the US. These events brought together renowned experts to share knowledge with other surgeons about the sustainability of personalized medicine, and our latest technological innovations in orthopedics and spine surgery. For Knee, there has been a particular focus on Kinematic Alignment (KA), a personalized and innovative technique intended to increase patient satisfaction, together with the initial results of GMK SpheriKA, the world’s first implant specifically designed for this technique.
Supply chain remains a key factor to sustain the continued solid growth of the company and the expansion of our facilities in Switzerland is progressing as planned.
Revenue by geography
Positive performance was recorded in every market headed by strong growth in EMEA, along with continuous progress in North America and APAC. In every region the increase was sustained by a continued expansion of our salesforce and customer base, together with some new products introduction, particularly in the Knee business line through GMK SpheriKA.
Below we report the 1H 2024 sales break-down by geographic area:
|
(Million Euro) |
1H 2024 |
1H 2023 |
Reported Growth |
Constant Currency Growth |
| EMEA | 144.2 | 123.1 | 17.2% | 16.6% |
| North America | 84.9 | 76.5 | 11.1% | 11.1% |
| Asia Pacific | 54.3 | 51.4 | 5.7% | 12.6% |
| Latin America* | 5.2 | 4.2 | 22.3% | 22.3% |
| TOTAL | 288.6 | 255.1 | 13.1% | 14.3% |
* Latin America (LATAM): includes revenue from countries located in Latin America which were previously named RoW.
Revenue in EMEA grew by 16.6% c.c., to Euro 144.2 million, with significant achievements recorded in every country, and contributions from both existing and new customers.
Revenue in North America increased by 11.1% c.c. to Euro 84.9 million, thanks to a remarkable performance by the Knee and Shoulder business lines.
Revenue in Asia Pacific rose by 12.6% c.c. to Euro 54.3 million, confirmed a very good pace and a convincing execution in all business lines.
Revenue in Latin America was Euro 5.2 million with a robust increase of 22.3% c.c., driven the gain of market share in existing countries.
Revenue by product line
In terms of trend by business lines, the performance was headed by an impressive step up of Knee and Shoulder, which confirmed their excellent progress recorded in 2023. Hip and Spine are progressing with a steady growth trend.
Below we report the 1H 2024 sales break-down by product line:
|
(Million Euro) |
1H 2024 |
1H 2023 |
Reported Growth |
Constant Currency Growth |
| Hip | 123.7 | 116.4 | 6.3% | 7.5% |
| Knee | 116.1 | 98.5 | 17.9% | 18.6% |
| Extremities* | 24.8 | 17.9 | 38.9% | 39.6% |
| Spine | 24.0 | 22.4 | 7.2% | 10.0% |
| TOTAL | 288.6 | 255.1 | 13.1% | 14.3% |
* Extremities include Shoulder and Sportsmed revenues
Hip products grew by 7.5% c.c., to Euro 123.7 million, with good achievements sustained by our Anterior Minimally Invasive Surgery Approach (AMIS) and Hip revision.
Revenue from our Knee recorded an excellent performance (18.6% c.c.) to Euro 116.1 million, thanks to a solid and innovative product offering, based on our personalized kinematic alignment solutions (MyKA).
Our Extremities business line reported a sharp increase of 39.6% c.c., to Euro 24.8 million, primarily attributable to Shoulder growth in all geographies through the Medacta Shoulder System and Technologies (MyShoulder and NextAR). The Sportsmed business is progressing in the execution of its growth plan.
Revenue from our Spine offering rose by 10.0% c.c. to Euro 24.0 million, primarily driven by EMEA and by the utilization of NextAR Spine solution.
These preliminary sales figures are unaudited for the period ending June 30, 2024, and are therefore subject to change. The Group will announce its 2024 Half Year Results on September 25, 2024.
Webcast Tomorrow at 10:00 am (CEST)
Medacta Group will present its preliminary unaudited top-line figures during a webcast tomorrow at 10:00 am (CEST). The call will be headed by Francesco Siccardi (CEO) and Corrado Farsetta (CFO) and will be held in English.
Live-Link:
https://event.choruscall.com/mediaframe/webcast.html?webcastid=N67aPWqd
Dial-in numbers for conference call function only:
CH: +41 225954728
DE: +49 6917415712
UK: +44 1 212818004
USA: +1 718 7058796
ITA: +39 02 802 09 11
Contact
Medacta
Giorgio Botta, Head of Investor Relations
Phone: +41 91 696 14 95
investor.relations@medacta.ch
About Medacta
Medacta is a global key player specializing in the design, production, and distribution of innovative, personalized, and sustainable solutions for joint replacement, sports medicine, and spine surgery. Established in 1999 in Switzerland, Medacta is committed to improving the care and well-being of patients and maintains a strong focus on healthcare sustainability. Through close collaboration with expert surgeons globally, continuous investments in R&D, and the adoption of cutting-edge technologies, Medacta’s innovation prioritizes minimally invasive surgery and personalized solutions for every patient. Through the M.O.R.E. Institute, Medacta supports surgeons with a comprehensive and tailored program dedicated to the advancement of medical education. Medacta is headquartered in Castel San Pietro, Switzerland, and is present in over 60 countries. Follow us on Medacta TV, YouTube, LinkedIn and X.
Disclaimer
This press release has been prepared by Medacta Group SA ('Medacta' and together with its subsidiaries, 'we', 'us' or the 'Group'). The information contained in the press release does not purport to be comprehensive and is not to be taken as containing any securities advice, recommendation, offer or invitation to subscribe for, purchase or redeem any securities regarding Medacta.
Forward-looking information
This press release has been prepared by Medacta and includes forward-looking information and statements concerning the outlook for its business. These statements are based on current expectations, estimates and projections about the factors that may affect its future performance. These expectations, estimates and projections are generally identifiable by statements containing words such as 'expects', 'believes', 'estimates', 'targets', 'plans', 'outlook' or similar expressions. Although Medacta believes that its expectations reflected in any such forward-looking statement are based upon reasonable assumptions, it can give no assurance that those expectations will be achieved.
1 Alternative Performance Measures
This press release contains certain information that it refers to as “constant currency” or c.c., which is a non-IFRS financial measure and represents the total change between periods excluding the effect of changes in foreign currency exchange rates. The Group believes that the reconciliations of changes in constant currency provide useful supplementary information to investors in light of fluctuations in foreign currency exchange rates. Furthermore, the Group believes that constant currency measures provide additional useful information on the Group’s operational performance and is consistent with how the business performance is measured internally. Definitions of Alternative Performance Measures and reconciliations between such measures and their IFRS counterparts may be found on the financial reports available on our website at: https://www.medacta.com/EN/financial-reports-and-presentations
Related Trademarks
Medacta Group Related Trademarks are registered at least in Switzerland. The products and services listed below may not be all-inclusive, and other Medacta products and services not listed below may be covered by one or more trademarks. The below products and services may be covered by additional trademarks not listed below. Note that Swiss trademarks may have foreign counterparts.
MyShoulder®, NextAR™, GMK SpheriKA®, MyKA™, AMIS®, MySpine®
