Slide 1: Spineway Presentation 2014
SPINEWAY PRESENTATION 2014 1
Slide 2: Spineway in short
SPINEWAY IN SHORT Stéphane LE ROUX – Founder Philippe LAURITO -‐ Founder Chairman and CEO General Manager General prac..oner 20 years’ experience in spinal work 20 years’ experience Expert in La.n-‐American and in spinal work Middle-‐Eastern exports Expert in Asian exports Spineway designs, manuf
Slide 3: Spineway, an indisputable success
SPINEWAY, AN INDISPUTABLE SUCCESS Created in 2005 – International sales from the start Offer covering 90% of operating needs 8 lines of state-of-the-art products and 11 patents (2013 INPI Award) A worldwide presence (48 countries), 90% of sales are exports A business model that creates value, a comp
Slide 4: A wide range of products built in 8 years
Turnover in €M A WIDE RANGE OF PRODUCTS BUILT IN 8 YEARS 7 Sonora 2013 Twin-Peaks 50 OLIF 6 X No. of importers / distributors Change in turnover (in €K) 2012 Kili 48 5 Blue Mountain 2011 Mont Blanc Baby 40 Névé 4 Rift 2010 Mont Blanc 36 2009 3 Twin Peaks Ayers Rock 28 2008 Creation of Spineway 21 20
Slide 5: A worldwide network
A WORLDWIDE NETWORK % distribution of 2013 turnover Europe 13% 21% Asia 47% 19% South America and Central America Africa Middle-East 5
Slide 6: Contents
CONTENTS SPINEWAY, A REAL ALTERNATIVE TO THE MAJORS INNOVATION IS AT THE HEART OF OUR APPROACH STRATEGY AND FUTURE PROSPECTS SPINEWAY IN FIGURES 6
Slide 7: A real alternative to the majors
A REAL ALTERNATIVE TO THE MAJORS 7
Slide 8: A strategic position
A STATEGIC POSITION Implant range MAJORS PURE PLAYERS Wide INDEPENDENTS Small Services Standard Personalized 8
Slide 9: Total control over the value chain
TOTAL CONTROL OVER THE VALUE CHAIN Photo DESIGN EXCELLENCE AT MANUFACTURING QUALITY CONTROLLED THE FOREFRONT IN FRANCE CERTIFICATION PACKAGING LOGISTICS DISTRIBUTION 6 R&D engineers 15 subcontractors In-house inspection Packaging Management of Worldwide network that are experts in team inventory 20
Slide 10: A worldwide offer covering the entire market
A WORLDWIDE OFFER COVERING THE ENTIRE MARKET 100% OF PATHOLOGIES Traumatology Cancers 10-15 % 10 % X No. of patents Deformative pathologies Infections <5% BLUE 15 % 1 MOUNTAIN AYERS ROCK Cervical plate Cervical cages in PEEK Degenerative illnesses 60 % 2 MONT BLANC 3D+ 2 1 1 1 MONT BLANC BABY Treatm
Slide 11: Personalized service - distributors
PERSONALIZED SERVICE - DISTRIBUTORS Sales Manager Training Sales conferences Administration Distributors Clinical trials – Marketing Scientific Services studies 11
Slide 12: Personalized service - surgeons
PERSONALIZED SERVICE – SURGEONS R&D Array of Clinical trials specific – Scientific instruments studies Surgeons Wide range of Training products conferences 100% of pathologies Quality: Made in France 12
Slide 13: Innovation is at the heart of our approach
INNOVATION IS AT THE HEART OF OUR APPROACH 13
Slide 14: Innovation: a growth vector (2013 INPI Award)
INNOVATION: A GROWTH VECTOR (2013 INPI Award) 2011/2013 > 55,000 OPERATIONS COMPLETED +286% 6.6 New-generation +286% 17% implants 4.7 3.6 8% 2.7 +66% 2.3 Other Spineway product lines In €M 2009 2010 2011 2012 2013 14
Slide 15: Mont-Blanc Baby: an option unique in the world
MONT-BLANC BABY 1 patent Application • Adapted for very young children: costo-spinal anchoring • Latest generation of operating techniques: specific instruments to accompany growth Major competitive advantages • A product that has no equivalent elsewhere in the world • Adjustable attachment methods
Slide 16: Kili: creation of a new benchmark operating technique
KILI 1 patent Application • New intersomatic lumbar cage with unique patented biomechanical properties • More precise correction for degenerative scoliosis Major competitive advantages • Shorter training time • Less time on the operating table • Patient can resume activity immediately 86-year-old wo
Slide 17: Mont-Blanc 3D+
MONT-BLANC 3D+ 2 patents Application • Treatment of idiopathic scoliosis • Unique characteristic: 3D correction of scoliosis and single-maneuver attachment 14-year-old girl – Adolescent idiopathic scoliosis Pre-op Post-op (3 weeks) 17
Slide 18: Mont-Blanc 3D+ sales worldwide as from 2014
MONT-BLANC 3D+ 2 patents The new generation of treatment for idiopathic scoliosis • Already over 50 fitted throughout the world • 1st ones fitted in France in April 2014. Major competitive advantages • Shorter training time • Operating time cut in half • Much improved patient comfort • Unique soluti
Slide 19: Strategy and future prospects
STRATEGY AND FUTURE PROSPECTS 19
Slide 20: High, yet realistic, ambitions
HIGH, YET REALISTIC, AMBITIONS REACH THE FOREFRONT OF THE INDEPENDENT WORLDWIDE PLAYERS IN SPINAL SURGERY 20
Slide 21: Our strategy
OUR STRATEGY STRENGTHEN DEVELOPMENT IN LINE WITH THE SPINEWAY BUSINESS MODEL 1 Widen our range of products and pursue our innovative programs Accelerate deployment in zones with strong growth potential 2 • USA, China, Europe, Brazil, etc. Intensify sales support 3 • Distributor services • Training a
Slide 22: Spineway in figures
@sFineway SPINEWAY IN FIGURES
Slide 23: A business model that generates growth
A BUSINESS MODEL THAT GENERATES GROWTH In €K Change in turnover 6.592 4.724 3.599 2.732 2.314 2009 2010 2011 2012 2013 23
Slide 24: Distribution of turnover by product
DISTRIBUTION OF TURNOVER BY PRODUCT 2013 turnover: 6.6 €M Other Twin Peaks Névé 1.2% 6.9% Sonora 2.8% Blue Mountain Mont Blanc 3.0% 3D+ 0.2% Mont Blanc Baby 7.4% Mont Blanc Ayers Rock product line 7.7% 61.4% Kili 9.4% 24
Slide 25: Why invest in Spineway?
WHY INVEST IN SPINEWAY? • A validated and controlled business model • A new position on a growth market • Strong sales potential • An R&D pipeline allowing for the doubling of the number of our product lines in the medium term Received OSEO Excellence label - Eligible for mutual funds investing in i
Slide 26: Contacts
CONTACTS Chairman and CEO General Manager CFO Stéphane LE ROUX Philippe LAURITO David SIEGRIST Tel: 04 72 77 83 32 Tel: 04 72 77 83 33 Tel: 04 72 77 83 37 slr@spineway.com phl@spineway.com finance.dsg@spineway.com FINANCIAL COMMUNICATION Jérôme GACOIN Solène KENNIS Tel: 01 75 77 54 67 Tel: 01 75 77
Slide 27: Appendices
@sFineway APPENDICES @sFineway 27
Slide 28: Stock market
STOCK MARKET Free float LISTING ON NYSE ALTERNEXT PARIS Stéphane LE ROUX • IPO: February 2013 Others • ISIN code: FR0011398874 2.1% 22.8% • Stock-market code: ALSPW 37.5% • No. of shares: 3 395 503 • Share price as at 21/05/2014: €7.36 37.7% • Capital: 26.15 €M Philippe LAURITO 28
Slide 29: Innovation at the heart of our approach
INNOVATION AT THE HEART OF OUR APPROACH SPINEWAY’s expertise in the treatment of the spine Analysis of operating Offer corresponds with Pathology-oriented R&D international market techniques demand Surgeons Spineway: a package deal § A wide range of products § Specific and personalized services §
Slide 30: The spinal-implant market
THE SPINAL-IMPLANT MARKET OVERVIEW OF THE WORLDWIDE MARKET Latin Predominantly the US market China America Asia 2% 3% • 73% in value 11% Europe • 33% in volume (no. of operations) 10% Middle-East Strong and steady growth over the last 20 years 1% Long-standing French know-how USA 73% AN IMPLANT MARK