Spineway (ALSPW) H1 2024 earnings summary

Executive summary

• Achieved half-year turnover of €6.5 million, up 20% year-over-year, reflecting continued organic growth.

• Operating result improved by nearly €500,000 to -€770,000 compared to -€1,256,000 in S1 2023 (+39%).

• Gross margin stable at 69%, in line with forecasts and prior periods.

• Ongoing cost optimization and regulatory investments, with full savings impact expected in H2 2024.

Financial highlights

• Net result at -€3,381,000, impacted by a non-cash exceptional Negma financial charge of €1.4 million.

• Restated net result (excluding Negma charge) stable at -€1.9 million.

• Cash position of €1.6 million and low net debt of €0.3 million as of June 30, 2024.

• Gearing (net debt/equity) at 1.3% with equity of €20.7 million.

Outlook and guidance

• Full effect of cost-saving measures to be realized in H2 2024.

• Aims to regain operational balance in the medium term and return to profitability.

• Focused on launching a premium range for degenerative spinal pathologies and internalizing ESP prosthesis production.