- 45% sales growth despite transformation of sales organization
- Additional SEK 12m in annual cost savings identified
- Pause of EPIC-Knee trial to the advantage of other initiatives
"We have started considerably faster in the US than what we have seen in any other market. For example, during the second quarter, the US market represents approx. 45% of the turnover in Germany, which is by far our largest market to date. In other words, we follow our strategy. We also see good opportunities to continue the beaten track at an ever-increasing speed. We will continue with our commercial focus, especially with a focus on the US. During the second quarter, personnel expenses continued to decrease, while we had higher expenses for clinical studies. Against this background, we present several initiatives to make us more focused and cost-efficient", says Pål Ryfors, CEO Episurf Medical.
Second quarter 2024 compared to 2023, Group
» Gross order intake amounted to SEK 3.5m (3.1)
» Group net sales amounted to SEK 3.2m (2.2)
» Loss for the period amounted to SEK -21.4m (-28.9)
» Earnings per share amounted to SEK -0.06 (-0.09)
First six mothns 2024 compared to 2023, Group
» Gross order intake amounted to SEK 6.2m (5.6)
» Group net sales amounted to SEK 6.2m (4.8)
» Loss for the period amounted to SEK -42.0m (-52.1)
» Earnings per share amounted to SEK -0.13 (-0.17)
Significant events during the second quarter
» Episurf Medical has carried out a rights issue which incl. issue guarantees were subscribed to 75.0% and the company received SEK 90m before issue costs
» Episurf Medical has entered into four distribution agreement with exclusive distributors of DePuy Synthes, the orthopaedic arm of the Johnson & Johnson Group, for several US states
Significant events after the second quarter
» No material events have occurred after the end of the period
For more information, please contact:
Pål Ryfors, CEO, Episurf Medical
Tel:+46 (0) 709 62 36 69
Email: pal.ryfors@episurf.com
Veronica Wallin, CFO, Episurf Medical
Tel:+46 (0) 700 37 48 95
Email: veronica.wallin@episurf.com
About Episurf Medical
Episurf Medical is endeavoring to bring people with painful joint injuries a more active, healthier life through the availability of minimally invasive and individualised treatment alternatives. Episurf Medical's Episealer® individualised implants and Epiguide® surgical drill guides are developed for treating localised cartilage injury in joints. Episurf Medical's µiFidelity® system enables implants to be cost-efficiently tailored to each individual's unique injury for the optimal fit and minimal intervention. Episurf Medical's head office is in Stockholm, Sweden. Its share (EPIS B) is listed on Nasdaq Stockholm. For more information, go to the company's website: www.episurf.com.
This information is information that Episurf Medical AB is obliged to make public pursuant to the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08.30 CEST on 12 July 2024.
