Press release Ecully, 18 July 2017

Confirmed growth
Revenue for the first half of 2017: €6M (+146%)

* Figures not audited

Spineway, specialist in surgical implants and instruments for treating disorders of the spinal column (spine), showed a continued increase in sales during the second quarter reaching €2.9M (+118%), resulting in revenue for the first half of 2017 of €6M, representing growth of +146% compared with HY1 2016.

This strong performance fully benefitted from the actions carried out under the SKYWAY 2018 plan, which continue to bear fruit, particularly as regards the excellent start of the US subsidiary, Spineway USA Inc., which posted revenue of €3M for the first half of the year ($2M of which from 2016 orders). Spineway`s activity outside the US confirms the company`s choices, with a 23% increase compared with HY1 2016.

Latin America, which has a steady demand for implants and instruments from the Mont-Blanc line, posted €1.4M for the first half of 2017, i.e., a 50% increase compared with the previous year.

France, thanks to the demand for Mont-Blanc MIS, posted revenue of €447K, up 35% compared with HY1 2017, bringing the revenue for Europe to €691K (+12%). Both the Asia-Oceania and Middle-East/Africa zones remained stable, with half-year revenues of €444K and €411K respectively.

On the back of the US subsidiary`s success and good performances in its other areas of activity, Spineway confirms once again its SKYWAY 2018 goals of €10M in revenue and a return to equilibrium.

Next communication:
2017 First Semester Results - 26 October 2017, after market closes

Spineway designs, manufactures and markets innovative implants and surgical instruments for treating severe disorders of the spinal column.
Spineway has an international network of over 50 independent distributors and 90% of its turnover comes from exports.
Spineway, which is eligible for investment through FCPIs (French unit trusts specializing in innovation), received the OSEO Excellence award as well as the Deloitte Fast 50 award in 2011. Rhône Alpes INPI Patent Innovation Award (2013) - Talent INPI award (2015).
ISIN code: FR0011398874 - ALSPW

Confirmed growth Revenue for the first half of 2017: €6M (+146%)

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Source: SPINEWAY via GlobeNewswire
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