EQS Group-Ad-hoc: Medacta Group SA / Key word(s): Sales Result
Press Release - 2020 Preliminary unaudited top-line figures
Medacta Group SA continues to outperform the market with a strong revenue acceleration in the second semester 2020
- FY 2020 revenues were €302.5 million, only -2.1% on a constant currency basis, -2.6% reported vs 2019
- 2H revenues to €167.7 million, +7.6% on a constant currency basis, largely compensating 1H results
- 2H acceleration sustained by both pent-up demand and new customers acquired
- Online efforts and tactical changes in Marketing and Medical Education Programs reflected in 2H rebound
- Continuous innovation with 30+ new products registered
- Around 80 new jobs added including significant salesforce expansion across all geographies
CASTEL SAN PIETRO, 21 January 2021 - Medacta Group SA ("Medacta", SIX:MOVE) announces today 2020 preliminary unaudited revenues. Measures adopted by governments in response to the Covid-19 pandemic caused the deferral of elective procedures with an impact on our sales in the first half of the year. In the following months, backlog recovery and continued acquisition of market share allowed to largely compensate the first half sales decrease, although it was limited by further restrictions from the pandemic resurgence starting in the end of October.
Francesco Siccardi, CEO of Medacta, commented: "During a year strongly conditioned by the Covid-19 pandemic in all geographies, Medacta managed to restart growing in 2H20 recovering almost completely the 1H20 negative growth. I am very satisfied with how we were able to protect our business and employees while continue to serve our customers, advance innovations and prepare for our future growth, hoping to quickly overcome the pandemic" concluded Francesco Siccardi.
During the year our Marketing and Medical Education Programs never stopped, thanks to the implementation of several tactical changes and new online based initiatives which proved to be effective in maintaining existing customers and reaching new ones. Also, innovation continued and over 30 new products across our business lines were registered with more expected in the first half of this year. Growth investments carried on with significant salesforce expansion across all geographies and investment in additional surgical instruments to serve new customers.
Revenues recorded in 2020 had significant differences among product lines and geographies due to different levels of Covid-19 related restrictions during the year and diverse patterns of momentum in pre-Covid sales growth.
Medacta registered a negative growth in the core business (Hip -6.1% and Knee -4.1%) because of the already mentioned restrictions and postponement of elective procedures in the first half, partially compensated by an effective backlog recovery. The last few months of the year did see a pandemic resurgence mainly in Europe and North America.
The Extremities product line had a very positive performance (+46.6%), growing in all geographies despite the Covid-19 impact, thanks to the strong momentum carried over by new business and expansion of product range, with an increase of our market share, especially in Europe.
The Spine business line recorded good performance (+14.6%) driven by newly launched products, salesforce expansion and a gain in market share, particularly in the US.
Below we report the 2020 sales break-down by product line:
In terms of geographic trend, Europe registered a negative growth (-6.0%) with a significant recovery in the second half of the year. The most affected markets were France, Italy and Belgium, while the "DACH" area recorded the smallest impact with Germany growing over the prior year.
North America was substantially unchanged compared with the previous year (-1.0%) thanks to our increasing market share that offset the negative Covid-19 effect.
Below we report the 2020 sales break-down by geographic area:
These preliminary figures are unaudited and are based on management's initial analysis of operations for the period ending December 31, 2020 and are therefore subject to change. The company will announce its audited full year 2020 financial and operating results on March 31, 2020.
Medacta's 2020 preliminary unaudited top-line figures conference call will take place at 3:00 pm CET today. The event will be webcast live via this link. The audio webcast of the conference call will be available on our website at https://www.medacta.com/EN/financial-calendar.
The telephone conference can be accessed at:
2021 Financial Calendar
- 31 March 2021 Publication of 2020 Full Year results
- 25 May 2021 Annual General Meeting
- 20 July 2021 Publication of 2021 Half-year unaudited top-line figures
- 10 September 2021 Half-year results 2021
Alternative Performance Measures
End of ad hoc announcement
|Company:||Medacta Group SA|
|6874 Castel San Pietro|
|Phone:||+41 91 696 6060|
|Listed:||SIX Swiss Exchange|
|EQS News ID:||1162100|
|End of Announcement||EQS Group News Service|
1162100 21-Jan-2021 CET/CEST