Amplitude Surgical (AMPLI) H1 24/25 earnings summary

Executive summary

• Revenue for H1 2024/25 reached €51.5M, up 5.0% year-over-year and 6.3% at constant exchange rates.

• Growth was driven by strong international subsidiary performance and continued momentum in France, with France accounting for 71% of activity.

• EBITDA margin improved to 25.4% from 24.1% year-over-year.

• Net result was a loss of €0.6M, compared to a €0.2M loss in H1 2023/24.

• Post-period, negotiations began for a potential acquisition of 85.6% of shares by Zydus Lifesciences.

Financial highlights

• Sales increased 5.0% at current exchange rates and 6.3% at constant exchange rates year-over-year.

• Q2 sales totaled €29.8M, up 5.3% at constant exchange rates from Q2 2023-24.

• Gross margin declined by 53 bps to 70.2%, mainly due to higher input and subcontracting costs.

• Net financial expense increased to €5.3M from €3.9M, driven by higher interest and FX losses.

• Cash and equivalents stood at €19.8M at period end.

Outlook and guidance

• No new major risks identified for the next six months beyond those previously disclosed.

• Ongoing litigation with URSSAF may impact future provisions and cash flows.