Press Release – Ad-hoc announcement pursuant to Art. 53 LR
Medacta Group SA reports a robust 20.4% revenue growth in 2022 reaching 437.1 M€
CASTEL SAN PIETRO, Switzerland, 3 February 2023 – Medacta Group SA (“Medacta”, SIX:MOVE) announces today the Full Year 2022 preliminary unaudited revenue.
Francesco Siccardi, CEO of Medacta, commented: “In 2022 we had once again a year of robust growth and I am very pleased with the achievement of our challenging target. We made strategic investments in strengthening our supply chain by increasing surgical instrument sets and implant stock to serve new customers and to cope with possible shortages, all around the world. The expansion of our salesforce continued across all geographies and business lines, supported by our Marketing and Medical Education Programs.
In a period still characterized by geopolitical tensions and volatile economic conditions, we remain focused on growth and long-term value creation through innovation and sustainability. I am grateful to all our Employees for their commitment and outstanding performance, and I also extend our thanks to our valued Customers and Suppliers for their partnership during these challenging times.”
Revenue by geography and product line
2022 shows strong growth in all geographies, with the strongest growth rate in Europe, where revenue registered an increase of 17.6% on a constant currency basis to Euro 187.4 million. The growth was driven by customer acquisition, together with normalization of surgical activities.
Revenue in North America increased to Euro 136.8 million, or 11.5% on a constant currency basis, thanks to our customer acquisition, which was limited by the impact of Covid-19 and hospital staffing shortages especially in the first months of the year.
Asia Pacific grew by 11.2% on a constant currency basis to Euro 94.4 million, mainly driven by the attainment of new customers in Japan. Australia was limited by significant longer than expected COVID impact, with recovery only in the last months of the year.
RoW registered revenue for Euro 18.6 million, an increase of 38.7% on a constant currency basis, mainly thanks to increased purchases from stocking distributors in Latin America.
Below we report the FY 2022 sales break-down by geographic area:
| (Million Euro) | FY 2022 (€M) | FY 2021 (€M) | Reported Growth (%) | Constant Currency Growth (%) |
| Europe | 187.4 | 156.4 | 19.8% | 17.6% |
| North America | 136.8 | 109.2 | 25.2% | 11.5% |
| Asia Pacific | 94.4 | 84.9 | 11.1% | 11.2% |
| RoW* | 18.6 | 12.6 | 48.1% | 38.7% |
| TOTAL | 437.1 | 363.1 | 20.4% | 15.0% |
| * RoW includes all other geographic locations, including Middle East. | ||||
Revenue from our Hip products increased to Euro 203.6 million, or 9.2% on a constant currency basis; the good momentum was driven by the AMIS® strategy and roll-out of new products in the revision segment.
Our Knee offerings reached Euro 164.5 million, with an increase of 18.4% on a constant currency basis, thanks to the continuous customer acquisition on Kinematic Alignment, Efficiency single-use instruments, GMK® Sphere platform and related MySolution® technologies.
The Extremities business line reported an increase in revenue of 38.8% on a constant currency basis to Euro 27.5 million; the growth was driven by the acquisition of new customers through the completeness of the Medacta Shoulder System, supported by MyShoulder® and NextAR™ MySolution® technologies.
Revenue from our Spine offering increased by 19.2% on a constant currency basis to Euro 41.5 million, driven by the expansion of MIS Platform and MySpine® offering and NextAR Spine in the second semester.
Below we report the FY 2022 sales break-down by product line:
| (Million Euro) | FY 2022 (€M) | FY 2021 (€M) | Reported Growth (%) | Constant Currency Growth (%) |
| Hip | 203.6 | 179.3 | 13.6% | 9.2% |
| Knee | 164.5 | 131.1 | 25.5% | 18.4% |
| Extremities* | 27.5 | 19.0 | 45.0% | 38.8% |
| Spine | 41.5 | 33.8 | 22.9% | 19.2% |
| TOTAL | 437.1 | 363.1 | 20.4% | 15.0% |
| * Extremities include Shoulder and Sports Med revenues | ||||
These preliminary sales figures are unaudited for the period ending December 31, 2022 and are therefore subject to change. The Company expects to announce its 2022 Full Year Results on March 17, 2023.
Webcast Today at 4:00pm (CET)
Medacta Group SA will present its preliminary unaudited top-line figures during a webcast today at 4:00pm (CET). The results call will be headed by Francesco Siccardi (CEO) and Corrado Farsetta (CFO). The conference will be held in English.
Live-Link: https://event.choruscall.com/mediaframe/webcast.html?webcastid=1FabszAb
Dial-in numbers for conference call function only:
CH: +41 225954727
DE: +49 6917415713
UK: +44 1212818003
US: +1 7187058794
Contact
Medacta International SA
Phone: +41 91 696 60 60
investor.relations@medacta.ch
1 Alternative Performance Measures
This press release contains certain information that it refers to as “constant currency”, 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 may be found on page 14 of the 2022 Half Year Report, available on our website:
https://www.medacta.com/EN/investors.
About Medacta
Medacta is an international company specializing in the design, production, and distribution of innovative orthopaedic products, as well as in the development of accompanying surgical techniques. Established in 1999 in Switzerland, Medacta is active in joint replacement, spine surgery, and sports medicine. Medacta is committed to improving the care and well-being of patients and maintains a strong focus on healthcare sustainability. Medacta's innovation, forged by close collaboration with surgeon leaders globally, began with minimally invasive surgical techniques and has evolved into 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 operates in over 40 countries.
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.
