- Consolidated revenues for the fourth
quarter of 2018: €3.0 million
- Q4 2018 sales up +31% compared
with the previous quarter
- Consolidated cash position at December
31, 2018: €9.9 million
Regulatory News:
STENTYS (FR0010949404 – STNT) (Paris:STNT), a French
group specialized in medical technologies for interventional
cardiology, today reports its revenues for the fourth quarter of
2018 and its consolidated cash position at December 31, 2018.
Christophe Lottin, Chief Executive Officer of STENTYS,
comments: “STENTYS has recorded its best quarter, the highest
of the year, with revenues of €3.0 million, up 31% compared to the
third quarter of 2018. The positive sales momentum recorded by the
MINVASYS products over the final quarter of 2018 confirms the
pertinence of this acquisition and our strategy. Indeed, 2018 was a
year of change during which STENTYS strengthened its offering with
the integration of the MINVASYS portfolio, enabling us to better
resist the substantial pricing pressure and the market’s
commoditization. With a solid cash position, we remain confident in
our ability to find appropriate solutions allowing us to cope with
this complex market environment. ”
Annual and fourth quarter revenues by geographical
zone
€ thousands
2018 2017
% chg.
Q4 2018 Q4 2017
% chg.
Europe1
4,911 4,407 +11%
1,593
1,028 +55% Rest of the world
3,962
2,629 +51%
1,371 844 +62%
Total revenues 8,873 7,036
+26% 2,965 1,872
+58%
Audited data
Annual and fourth quarter revenues by product
category
€ thousands
2018 2017
% chg.
Q4 2018 Q4 2017
% chg. Stents
6,157 6,792 -9%
1,791
1,856 -4% Balloons & accessories
2,716 244 n.a.
1,174 16
n.a.
Total revenues 8,873 7,036
+26% 2,965 1,872
+58%
Audited data
Incorporating the activity of MINVASYS, consolidated from May 1,
2018, the STENTYS group recorded revenues of €3.0 million in the
fourth quarter of 2018, up +58% compared with the fourth quarter of
2017.
In pro forma terms2, the STENTYS group recorded a quarter of
growth in all geographical zones apart from Asia, which weighed on
the global performance (-6%).
Annual and fourth quarter 2018 revenues (pro forma
information)2 by geographical zone
€ thousands
2018 2017
% chg.
Q4 2018 Q4 2017
% chg. Europe1
5,708 6,542 -13%
1,593
1,501 +6% Rest of the world
5,033
5,676 -11%
1,371 1,639
-16%
Total revenues 10,741
12,218 -12% 2,965 3,140
-6%
Unaudited data
Annual and fourth quarter revenues (pro forma
information)2 by product category
€ thousands
2018 2017
% chg.
Q4 2018 Q4 2017
% chg. Stents
6,763 8,209 -18%
1,791
2,138 -16% Balloons & accessories
3,978 4,008 -1%
1,174
1,003 +17%
Total revenues 10,741
12,218 -12% 2,965 3,140
-6%
Unaudited data
This good performance was principally the result of the growth
driven by the sale of the range of conventional drug-eluting stents
(DES), coronary dilation balloons and accessories that are now
integrated thanks to the acquisition of MINVASYS.
The MINVASYS product range thus recorded growth of +30% in the
fourth quarter of 2018 and +5% over the entire 2018 financial year,
pro forma2.
However, this strong activity was unable to offset the decrease
in sales of the Xposition S stent (-19%). Although it has been
possible to maintain the average selling price of the Xposition S
stent, sales volumes decreased due to public policies leading to
intense pricing pressure and increasingly restrictive regulations,
notably in Europe. Within this context, STENTYS has undertaken a
strategic planning process on the optimization of its production
costs and its price positioning in order to preserve its
differentiation and increase sales volumes on its niche market.
Excluding the acquisition, STENTYS recorded a 29% decrease in
revenues to €1.3 million over the quarter compared with the fourth
quarter of 2017.
Over 2018 as a whole, the pro forma revenues2 of the Group
totaled €10.8 million, down 12% on 2017, with a 13% decrease in
Europe and an 11% decrease in the rest of the world.
Solid cash position of €9.9 million
The Group had a cash position of €9.9 million at December 31,
2018, compared with €10.5 million at September 30, 2018, reflecting
excellent spending control and an improvement in client
receivables.
About STENTYS
The STENTYS group develops and markets minimally-invasive
cardiovascular solutions for the needs of interventional
cardiology. Its extensive range of innovative products, including
drug-eluting stents, coronary and drug-eluting balloons as well as
cardiovascular accessories, is marketed in over 60 countries.
Thanks to its flagship product, Xposition S, the self-apposing
stent that adapts to vessels with variable diameters and enables
the treatment of complex arterial disorders, and to its portfolio
of balloons and accessories, STENTYS covers all coronary
indications.
Additional information is available at www.stentys.com
STENTYS is listed on Compartment C of Euronext ParisISIN:
FR0010949404 – Ticker: STNT
Forward-looking Statements
This press release contains forward-looking statements about the
Company that are based on numerous assumptions regarding the
Company’s present and future business strategies and the
environment in which it will operate in the future which may not be
accurate. Such forward-looking statements involve known and unknown
risks which may cause the Company’s actual results, performance or
achievements to differ materially from any future results,
performance or achievements expressed or implied by such
forward-looking statements. Such factors include, among others,
risks associated with the development and commercialization of the
Company’s products, market acceptance of the Company’s products,
its ability to manage growth, the competitive environment in
relation to its business area and markets, its ability to enforce
and protect its patents and proprietary rights, uncertainties
related to the U.S. FDA approval process, slower than expected
rates of patient recruitment for clinical trials, the outcome of
clinical trials, and other factors, including those described in
the Section 4 “Risk Factors” of the Company’s 2016 Registration
Document (document de référence) filed with the French Autorité des
Marchés Financiers (AMF) on November 29, 2017 under number
D.17-1084.
1 Germany, Italy, Switzerland, Austria, Poland, Netherlands,
France, Belgium, United Kingdom, Spain, Greece, Portugal and Nordic
countries.2 Pro forma data not yet reviewed by the statutory
auditors, presented in accordance with IFRS 15 (mandatory
application) with no difference compared with IAS 18 applied in
2017. The acquisition of Minvasys by STENTYS was completed on
April 30, 2018 and its activity consolidated from May 1, 2018. This
data was calculated to provide a comparable vision of the Group’s
activity as if the acquisition had been completed on January 1,
2017.
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version on businesswire.com: https://www.businesswire.com/news/home/20190110005467/en/
STENTYSAndré LereboursCFOTel.: +33 (0)1 44 53 99
42investor@stentys.com
NewCapInvestor Relations / Strategic CommunicationsDusan
Oresansky / Alexia FaureTel.: +33 (0)1 44 71 94
92stentys@newcap.eu