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EQS-Adhoc: Medacta Group SA: Medacta Half-year 2020 revenue equal to Euro 135M, down 11.1% over the prior year due to COVID-19 related deferrals of orthopedic elective surgeries. Good backlog recovery in June with a double-digit growth rate.

EQS Group-Ad-hoc: Medacta Group SA / Key word(s): Half Year Results 
Medacta Half-year 2020 revenue equal to Euro 135M, down 11.1% over the prior 
year due to COVID-19 related deferrals of orthopedic elective surgeries. 
Good backlog recovery in June with a double-digit growth rate. 
 
22-Jul-2020 / 07:00 CET/CEST 
Release of an ad hoc announcement pursuant to Art. 53 KR 
The issuer is solely responsible for the content of this announcement. 
 
*Press Release* 
 
*Medacta Half-year 2020 revenue equal to Euro 135M, down 11.1% over the 
prior year due to COVID-19 related deferrals of orthopedic elective 
surgeries. Good backlog recovery in June with a double-digit growth rate.* 
 
_CASTEL SAN PIETRO, 22 July 2020_ - The response to the COVID-19 pandemic 
from the local governments and health care authorities worldwide, including 
the deferral of elective procedures, had a significant negative impact on 
our operations and sales volume. After closing the first quarter 2020 with a 
single digit growth, we registered a decrease in the second quarter 2020. 
Good backlog recovery was achieved in June with a double-digit growth rate. 
 
"Sales in 1H 2020 were heavily affected by the COVID-19 impact, generating 
for the first time in the company's history a negative growth rate. The 
deferral of orthopedic surgeries, particularly in the months of March, April 
and May is generating waiting lists, and the encouraging double-digit growth 
reached in June confirms that the backlog recovery can occur quicker than we 
were expecting. Nevertheless, the uncertainty about the future and the new 
partial lockdown in certain geographies makes the near-term outlook very 
difficult to predict" said Francesco Siccardi, CEO. _"During the first 
semester, Medacta was able to redesign most of its Marketing and Medical 
Education Programs, implementing several online based initiatives, reaching 
over 1800 Surgeons. Also, innovation continued and over 25 new products 
among our business lines were cleared, culminating with the FDA approval on 
our proprietary NextARTM Augmented Reality platform technology in July. I am 
very proud of what we have been able to achieve during these difficult 
months_" concluded Francesco Siccardi. 
 
First semester 2020 recorded significant differences among product lines and 
geographies due to different level of COVID-19 restrictions and different 
pre-COVID momentums in sales growth. 
 
The decrease in the core business (Hip -17.5%, Knee -13.0%) reflects 
COVID-19 restrictions and lock-downs impact in almost all countries. 
Spine (+11.9%) and Extremities (+41.7%) performances were heavily affected 
in the second part of the semester, however they were able to recognize 
positive performances in all geographies thanks to the strong momentum 
carried over into the beginning of 2020. 
 
Below we show the 1H 2020 sales break-down by product line: 
 
(Thousand Euro) 30.06.2020 30.06.2019 Reported     Constant 
                                      Growth       Currency 
                                                   Growth 
Hip             68'873     82'919     -16.9%       -17.5% 
Knee            47'343     53'664     -11.8%       -13.0% 
Extremities*    6'060      4'181      44.9%        41.7% 
Spine           12'532     10'874     15.3%        11.9% 
TOTAL           134'808    151'638    -11.1%       -12.2% 
 
* Extremities include Shoulder and Sports Med sales 
 
Revenue in Europe had the largest decline (-17.3%) within the key markets, 
with "DACH" area countries (Germany, Austria, Switzerland) recording the 
smallest impact. 
North America was heavily affected as well (-14.3%), with the deepest 
negative peak in April and the strongest acceleration in June among all 
Medacta's markets. 
APAC (+5.8%) had the best performance thanks to strong pre-COVID19 momentum, 
a limited COVID-19 impact in Japan and a short lock-down period in 
Australia. 
RoW (-28.4%) was primarily affected by the situation in Latin America, 
South-Africa and Israel. New distributors in the Middle East and Eastern 
Europe areas are in the pipeline to further expand the Distributors network. 
 
Below we show the 1H 2020 sales break-down by geographic area: 
 
(Thousand Euro) 30.06.2020   30.06.2019  Reported    Constant 
                                         Growth      Currency 
                                                     Growth 
Europe          59'289       70'587      -16.0%      -17.3% 
North America   39'665       45'202      -12.2%      -14.3% 
Asia Pacific    31'857       30'328      5.0%        5.8% 
RoW*            3'997        5'521       -27.6%      -28.4% 
TOTAL           134'808      151'638     -11.1%      -12.2% 
 
* Other includes all other geographic locations, including 
Middle East. 
 
These preliminary sales figures are unaudited for the periods ended June 30, 
2020 and are therefore subject to change. The company expects to announce 
its second quarter and reviewed 2020 half-year financial and operating 
results on September 7. 
 
*2020 Annual Guidance* 
The positive sales performances in June confirms that backlog recovery can 
occur quickly if the environmental conditions allow. Even if this is 
encouraging, speed and size of recovery in the second semester of 2020 
depend on the evolution of the COVID-19 crisis in key markets, which remain 
unpredictable. 
 
Given these uncertainties and the inability to forecast future developments, 
we are not able to provide a short-term outlook. Overall, we believe that 
mid and long-term fundamentals haven't changed. 
 
*Conference Call Information* 
Medacta's 1H 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 [1]. The audio webcast of the conference call will be available on 
our website. 
 
The telephone conference can be accessed at: 
CH: +41 445806522 
DE: +49 69201744220 
UK: +44 2030092470 
USA: +18 774230830 
 
PIN: 28756483# 
 
*Contact* 
Medacta Group SA 
Corrado Farsetta, CFO 
Phone: +41 91 696 60 60 
investor.relations@medacta.ch 
 
*About Medacta* 
Medacta is an international company specialized in the design and production 
of innovative orthopaedic products and the development of accompanying 
surgical techniques for joint replacement, spine surgery, and sports 
medicine. Established in 1999 in Switzerland, Medacta's products and 
surgical techniques are characterized by innovation. Medacta is a pioneer in 
developing new offerings on the basis of minimally invasive surgical 
techniques, in particular its Anterior Minimally Invasive Surgery (AMIS) 
technique for hip replacements. Medacta has leveraged its orthopaedic 
expertise and comprehensive understanding of the human body to develop the 
sophisticated MySolutions technology, which offers surgeons highly 
personalized pre-operative planning and implant placement methodologies by 
creating advanced personalized kinematic models and 3D planning tools for 
use in hip, knee, shoulder and spine procedures. 
 
*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. 
 
*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. 
 
End of ad hoc announcement 
Language:    English 
Company:     Medacta Group SA 
             Strada Regina 
             6874 Castel San Pietro 
             Switzerland 
Phone:       +41 91 696 6060 
E-mail:      info@medacta.ch,investor.relations@medacta.ch 
Internet:    www.medacta.com 
ISIN:        CH0468525222 
Listed:      SIX Swiss Exchange 
EQS News ID: 1098895 
 
End of Announcement EQS Group News Service 
 
1098895 22-Jul-2020 CET/CEST 
 
 
1: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=redirect&url=7bb4290ea4e993f707cb9dc63ee21206&application_id=1098895&site_id=vwd&application_name=news 
 

(END) Dow Jones Newswires

July 22, 2020 01:01 ET (05:01 GMT)

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