Spineway Sa · EURONEXT:ALSPW
Spineway Sa — FY2016 Earnings Presentation
22 slides from Spineway Sa's earnings presentation, June 2017
Slide 1: Spineway
@ SFINewaY YOU all WE FIND
Slide 2: 2016 annual results, 2017 and beyond
SPINEWAY 2016 annual results, 2017 and beyond…
Slide 3: 2016 Turn Over by area
% TO 2016 2016 Turn Over by area TO 2016 : 5,1 M€ (% TO 2015) Europe 24% (20%) USA 12% (NS) Asia/Pacific 18% (19%) EMEA 10% LATAM (20%) 36% (41%) SPW Officerepresentation Worldwide distribution network 3
Slide 4: Key highlights of 2016: USA
KEY HIGHLIGHTS OF 2016: USA Acceleration of deployment to the US • Establishment of Spineway USA Inc – Based in Florida (August 2016) • First strategic partner in the US: California distributor • Sales orders totaling $2 million (delivery in 2017) New approvals from the FDA (510k) • Autorisation to
Slide 5: Key highlights of 2016: China
KEY HIGHLIGHTS OF 2016: CHINA China: a strategic partner • Agreement with TINAVI Medical Technologies (Beijing) – shares listed on NEEQ (Since Nov. 2015) • Development and marketing of highly innovative surgical systems • TiRobot ™: the world’s only robot that can perform surgery on the entire spina
Slide 6: Key highlights of 2016: Ranges/Products
KEY HIGHLIGHTS OF 2016: RANGES/PRODUCTS Successful presentation of Mont-Blanc MIS at the Eurospine congress: Germany (Berlin) • Distributors meeting • First step: applications for degenerative disease • Rapid appropriation: known surgical techniques • Positioning by Spineway in a new segment • Line
Slide 7: Key highlights of 2016
KEY HIGHLIGHTS OF 2016 Laurent Ricquart RoW Sales Director Philippe Laurito Président of Spineway USA Inc. Lucas Langevin Cédryc Douillet Asia-Pacific Middle East Africa Shawn McQuinn VP Sales USA Stéphane Morvan Thibault Marnay Europe Latin America Structuration des équipes commerciales pour une ac
Slide 8: Annual Results 2016
INTRODUCTION Annual Results 2016
Slide 9: Breakdown of 2016 turn over per range
BREADOWK OF 2016 TURN OVER PER RANGE 2016 Turn Over : 5,1 M€ Innovative products Twin Peaks Névé Sonora 2% 23 % 13% Autres 3% Of Turn Over Blue Mountain 3% Vs 25% in 2015 Ayer Rock Mont Blanc 7% 49% Kili 5% MIS Mont- Blanc 12% Mont Blanc 3D+ Mont Blanc 2% Baby 4% 9
Slide 10: 2016 P&L
2016 P&L In thousands of euros 31/12/2015 31/12/2016 Turn Over 5 680 5 120 Gross Margin on products sold 3 798 3 361 In % of the Turn Over 66,9% 66% External expenses - 2 234 - 2 374 Taxes - 98 - 98 Wages - 2 561 - 2 312 Other expenses and operating revenues 16 0 EBITDA - 1 078 - 1 424 Depreciation
Slide 11: 2016 Balance Sheet
2016 Balance Sheet In thousands of euros 31/12/2015 31/12/2016 In thousands of euros 31/12/2015 31/12/2016 SHAREHOLDERS EQUITY FiXED ASSETS 1 428 1 297 3 021 2 168 AND OTHER EQUITY Inventory 2 210 3 363 Provisions - 255 Financial Debts 4 119 4 125 Receivables (clients) 3 041 2 147 Other receivables
Slide 12: 2016 Cash Flow Statement
2016 Cash Flow Statement In K€ Investing Operating activities Financing activities activities - 759K€ - 626K€ 1 416K€ 1 388 1 419 Cash at beginning of period 456 - 364 Cash at end of period - 1 026 1 324 268 - 626 Cash generated Change in Tangible and Capital increase Advances Loans from operations
Slide 13: To summarise
To summarise • Transitory decrease of activity • Good control of operating expenses • Strong investments in R&D maintained • 2016 results supporting the future speeding-up • Group's financial structure strengthened 13
Slide 14: 2017, return to growth
INTRODUCTION 2017, return to growth
Slide 15: Very dynamic start to 2017
VERY DYNAMIC START TO 2017 Consolidated US accounts to 1 January 2017 Sales T1 2017 Strong sales growth for the first trimester: + 176% 3.1 M euros • 3.1 M euros vs 1.1 M euros (consolidated figures) vs 1.1 M euros • Sales increases in the US (1.7 M euros) • Good momentum in the rest of the world (+
Slide 16: 2017 and beyond: Group structuring
2017 AND BEYOND: GROUP STRUCTURING Spineway USA Inc: basis for strategic deployment in the US • World’s largest market for spinal products • US subsidiary management overseen by Philippe Laurito – founding partner of Spineway New achievements in the US • New distribution contracts • First exposure f
Slide 17: 2017 and beyond: Development of new products
2017 AND BEYOND: DEVELOPMENT OF NEW PRODUCTS Continuation of R&D work • New applications for MIS: to be pioneered in new market segments • New product launches to complete the lines: Ongoing pipeline for 15 products in R&D • Fast-growing segment Success of the new Mont-Blanc MIS line confirmed • Inc
Slide 18: 2017 and beyond: Geographic strategy
2017 AND BEYOND: GEOGRAPHIC STRATEGY Stronger positioning in mature markets • Development in Australia • Study of growth drivers for improvement in Europe • Active exploration in the Japanese market Continued growth in established areas • Asia: emerging strength of the partnership with Tinavi • Lati
Slide 19: Outlook confirmed: Targets SKYWAY 2018
OUTLOOK CONFIRMED Targets SKYWAY 2018 • Turn Over of 10 M€ • Break even 19
Slide 20: Thank you for your attention
INTRODUCTION Thank you for your attention
Slide 21: Stock exchange
STOCK EXCHANGE LISTING ON ALTERNEXT PARIS VOLUMES • Stock exchange listing: February 2013 • Nb of shares : 3 907 846 • ISIN code : FR0011398874 • MNEMONIQUE : ALSPW • 3 010 530 securities traded in 2016 vs 262 112 in 2015 • June 22nd share price : 3,43 € • Trading x 11 between 2016 and 2015. • Capit
Slide 22: Contacts
CONTACTS Président Directeur Général Directeur Général Délégué Directeur Financier 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 COMMUNICATION FINANCIÈRE Jérôme Gacoin Solène