Year-end Report 1 October – 31 December 2021
”Approaching the end of the pandemic is a relief on a human level, far beyond business life. However, it is fair to say that wearing the Episurf jersey during the pandemic has been extremely tough. Elective surgery has been severely hit, with experimental elective surgery even more so. Hence, that we have been able to deliver growth throughout the pandemic, and that we now, finally, are expecting a return to normalcy, is just highly encouraging. We are in a better position than ever, with a strengthened organisation, several products in the pipeline, a strong scientific foundation to operate from, regulatory access to several markets globally, and a strong financial position. We are very optimistic about the future, and although Q1 2022 still offers some COVID-related challenges, we expect to take significant steps during 2022”, says Pål Ryfors, CEO Episurf Medical.
Fourth quarter 2021 compared to 2020, Group
- Gross order intake amounted to SEK 1.6m (1.3), an increase of 23%
- Order book amounted to SEK 1.3m (1.3)
- Group net sales amounted to SEK 1.5m (1.5)
- Loss for the period amounted to SEK -18.9m (-16.2)
- Earnings per share amounted to SEK -0.08 (-0.08)
Twelve months 2021 compared to 2020, Group
- Gross order intake amounted to SEK 6.6m (5.6), an increase of 18%
- Group net sales increased by 30% to SEK 6.5m (5.0)
- Loss for the period amounted to SEK -69.3m (-63.9)
- Earnings per share amounted to SEK -0.31 (-0.39)
Significant events during the fourth quarter
- Episurf Medical carried out a directed share issue of SEK 159m. Ilija Batljan entered as the largest shareholder
- Episurf Medical submitted 510(k) application for Episealer® Patellofemoral System
- Episurf Medical’s implants approved for sale in Saudi Arabia
- Episurf Medical hired Stephen Caswell to head Global Sales OUS
Significant events after the fourth quarter
- Episurf Medical’s implants approved for sale in Malaysia
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[HtmlCompanyInformation:protected] => <p style="font-family:arial,helvetica,sans-serif; font-size:10pt"><strong><span style="font-size:10pt">About Episurf Medical</span></strong></p>
<p style="font-family:arial,helvetica,sans-serif; font-size:10pt"><em>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.</em></p>
<p style="font-family:arial,helvetica,sans-serif; font-size:10pt"><em>This information is information that Episurf Medical AB is obliged to make public pursuant to the </em>Swedish Securities Markets Act (2007:528)<em>. The information was submitted for publication, through the agency of the contact person set out above, at 08.30 CET on 11 February 2022.</em></p>
[HtmlContact:protected] => <p><strong><span><span style="font-size:10pt"><span style="font-family:arial,helvetica,sans-serif">For more information, please contact:</span></span></span></strong></p>
<p><span><span style="font-size:10pt"><span style="font-family:arial,helvetica,sans-serif"><span style="font-size:10pt"><span><span style="font-family:arial,helvetica,sans-serif">Pål Ryfors, CEO, Episurf Medical</span></span></span><br>
Tel:<span style="font-size:10pt">+46 (0) 709 62 36 69</span><br>
<span style="font-size:10pt">Email: </span><a href="mailto:pal.ryfors@episurf.com">pal.ryfors@episurf.com</a></span></span></span></p>
<p><span><span><span style="font-size:10pt"><span style="font-family:arial,helvetica,sans-serif">Veronica Wallin, CFO, Episurf Medical</span></span></span></span><br>
<span><span><span style="font-size:10pt"><span style="font-family:arial,helvetica,sans-serif">Tel:</span></span></span></span><span><span><span style="font-size:10pt"><span style="font-family:arial,helvetica,sans-serif">+46 (0) 700 37 48 95</span></span></span></span><br>
<span style="font-size:10pt"><span><span style="font-family:arial,helvetica,sans-serif">Email: </span></span></span><a href="mailto:pal.ryfors@episurf.com"><span><span style="font-size:10pt"><span style="font-family:arial,helvetica,sans-serif">veronica.wallin@episurf.com</span></span></span></a></p>
[HtmlTitle:protected] => <h1 style="line-height:120%"><span style="font-family:arial,helvetica,sans-serif"><strong>Year-end Report 1 October – 31 December 2021</strong></span></h1>
[HtmlHeader:protected] =>
[HtmlIntro:protected] => <ul>
<li><span style="font-size:12pt"><span style="font-family:times new roman,times"><strong><span style="font-size:10pt"><span style="font-family:arial,helvetica,sans-serif">Despite pandemic related challenges: 30% sales growth and surgeries in 15 countries during 2021</span></span></strong></span></span></li>
<li><span style="font-size:12pt"><span style="font-family:times new roman,times"><strong><span style="font-size:10pt"><span style="font-family:arial,helvetica,sans-serif">Episurf Medical’s first 510(k) submission completed in line with timetable. FDA review ongoing</span></span></strong></span></span></li>
<li><span style="font-size:12pt"><span style="font-family:times new roman,times"><strong><span style="font-size:10pt"><span style="font-family:arial,helvetica,sans-serif">Commercial organisation expanded with Head of Sales OUS, re-start of commercial activities following the end of the pandemic</span></span></strong></span></span></li>
</ul>
[Body:protected] => ”Approaching the end of the pandemic is a relief on a human level, far beyond business life. However, it is fair to say that wearing the Episurf jersey during the pandemic has been extremely tough. Elective surgery has been severely hit, with experimental elective surgery even more so. Hence, that we have been able to deliver growth throughout the pandemic, and that we now, finally, are expecting a return to normalcy, is just highly encouraging. We are in a better position than ever, with a strengthened organisation, several products in the pipeline, a strong scientific foundation to operate from, regulatory access to several markets globally, and a strong financial position. We are very optimistic about the future, and although Q1 2022 still offers some COVID-related challenges, we expect to take significant steps during 2022”, says Pål Ryfors, CEO Episurf Medical.
Fourth quarter 2021 compared to 2020, Group
· Gross order intake amounted to SEK 1.6m (1.3), an increase of 23%
· Order book amounted to SEK 1.3m (1.3)
· Group net sales amounted to SEK 1.5m (1.5)
· Loss for the period amounted to SEK -18.9m (-16.2)
· Earnings per share amounted to SEK -0.08 (-0.08)
Twelve months 2021 compared to 2020, Group
· Gross order intake amounted to SEK 6.6m (5.6), an increase of 18%
· Group net sales increased by 30% to SEK 6.5m (5.0)
· Loss for the period amounted to SEK -69.3m (-63.9)
· Earnings per share amounted to SEK -0.31 (-0.39)
Significant events during the fourth quarter
· Episurf Medical carried out a directed share issue of SEK 159m. Ilija Batljan entered as the largest shareholder
· Episurf Medical submitted 510(k) application for Episealer® Patellofemoral System
· Episurf Medical’s implants approved for sale in Saudi Arabia
· Episurf Medical hired Stephen Caswell to head Global Sales OUS
Significant events after the fourth quarter
· Episurf Medical’s implants approved for sale in Malaysia
[HtmlBody:protected] => <p style="margin-bottom:11px;margin-top:12px"><span><span style="font-size:11pt"><span><span style="font-family:arial,helvetica,sans-serif"><em><span style="font-size:10pt"><span>”Approaching the end of the pandemic is a relief on a human level, far beyond business life. However, it is fair to say that wearing the Episurf jersey during the pandemic has been extremely tough. Elective surgery has been severely hit, with experimental elective surgery even more so. Hence, that we have been able to deliver growth throughout the pandemic, and that we now, finally, are expecting a return to normalcy, is just highly encouraging. We are in a better position than ever, with a strengthened organisation, several products in the pipeline, a strong scientific foundation to operate from, regulatory access to several markets globally, and a strong financial position. We are very optimistic about the future, and although Q1 2022 still offers some COVID-related challenges, we expect to take significant steps during 2022”</span></span></em><span style="font-size:10pt"><span>, says Pål Ryfors, CEO Episurf Medical. </span></span></span></span></span></span></p>
<p style="margin-bottom:11px"></p>
<p style="margin-bottom:11px"><span><span style="page:WordSection1"><span><span style="font-family:arial,helvetica,sans-serif"><strong><span style="font-size:10pt"><span><span style="color:#375f74">Fourth quarter 2021 compared to 2020, Group </span></span></span></strong></span></span></span></span></p>
<ul>
<li style="font-size: 10pt; font-family:arial,helvetica,sans-serif;"><span><span style="page:WordSection1"><span style="font-size:11pt"><span style="font-family:arial,helvetica,sans-serif"><span style="font-size:10pt">Gross order intake amounted to SEK 1.6m (1.3), an increase of 23%</span></span></span></span></span></li>
<li style="font-size: 10pt; font-family:arial,helvetica,sans-serif;"><span><span style="page:WordSection1"><span style="font-size:11pt"><span style="font-family:arial,helvetica,sans-serif"><span style="font-size:10pt">Order book amounted to SEK 1.3m (1.3)</span></span></span></span></span></li>
<li style="font-size: 10pt; font-family:arial,helvetica,sans-serif;"><span><span style="page:WordSection1"><span style="font-size:11pt"><span style="font-family:arial,helvetica,sans-serif"><span style="font-size:10pt">Group net sales amounted to SEK 1.5m (1.5)</span></span></span></span></span></li>
<li style="font-size: 10pt; font-family:arial,helvetica,sans-serif;"><span><span style="page:WordSection1"><span style="font-size:11pt"><span style="font-family:arial,helvetica,sans-serif"><span style="font-size:10pt">Loss for the period amounted to SEK -18.9m (-16.2) </span></span></span></span></span></li>
<li style="font-size: 10pt; font-family:arial,helvetica,sans-serif;"><span><span style="page:WordSection1"><span style="font-size:11pt"><span style="font-family:arial,helvetica,sans-serif"><span style="font-size:10pt">Earnings per share amounted to SEK -0.08 (-0.08)</span></span></span></span></span></li>
</ul>
<p><span><span style="page:WordSection1"><span style="font-family:arial,helvetica,sans-serif"><strong><span style="font-size:10pt"><span style="color:#375f74">Twelve months 2021 compared to 2020, Group</span></span></strong></span></span></span></p>
<ul>
<li style="font-size: 10pt; font-family:arial,helvetica,sans-serif;"><span><span style="page:WordSection1"><span style="font-size:11pt"><span style="font-family:arial,helvetica,sans-serif"><span style="font-size:10pt">Gross order intake amounted to SEK 6.6m (5.6), an increase of 18% </span></span></span></span></span></li>
<li style="font-size: 10pt; font-family:arial,helvetica,sans-serif;"><span><span style="page:WordSection1"><span style="font-size:11pt"><span style="font-family:arial,helvetica,sans-serif"><span style="font-size:10pt">Group net sales increased by 30% to SEK 6.5m (5.0)</span></span></span></span></span></li>
<li style="font-size: 10pt; font-family:arial,helvetica,sans-serif;"><span><span style="page:WordSection1"><span style="font-size:11pt"><span style="font-family:arial,helvetica,sans-serif"><span style="font-size:10pt">Loss for the period amounted to SEK -69.3m (-63.9)</span></span></span></span></span></li>
<li style="font-size: 10pt; font-family:arial,helvetica,sans-serif;"><span><span style="page:WordSection1"><span style="font-size:11pt"><span style="font-family:arial,helvetica,sans-serif"><span style="font-size:10pt">Earnings per share amounted to SEK -0.31 (-0.39)</span></span></span></span></span></li>
</ul>
<p style="margin-bottom:11px"><span><span style="font-size:11pt"><span><span style="font-family:arial,helvetica,sans-serif"><strong><span style="font-size:10pt"><span><span style="color:#375f74">Significant events during the fourth quarter</span></span></span></strong> </span></span></span></span></p>
<ul>
<li style="font-size: 10pt; font-family:arial,helvetica,sans-serif;"><span><span style="font-size:11pt"><span style="font-family:arial,helvetica,sans-serif"><span style="font-size:10pt">Episurf Medical carried out a directed share issue of SEK 159m. Ilija Batljan entered as the largest shareholder</span></span></span></span></li>
<li style="font-size: 10pt; font-family:arial,helvetica,sans-serif;"><span><span style="font-size:11pt"><span style="font-family:arial,helvetica,sans-serif"><span style="font-size:10pt">Episurf Medical submitted 510(k) application for Episealer® Patellofemoral System</span></span></span></span></li>
<li style="font-size: 10pt; font-family:arial,helvetica,sans-serif;"><span><span style="font-size:11pt"><span style="font-family:arial,helvetica,sans-serif"><span style="font-size:10pt">Episurf Medical’s implants approved for sale in Saudi Arabia</span></span></span></span></li>
<li style="font-size: 10pt; font-family:arial,helvetica,sans-serif;"><span><span style="font-size:11pt"><span style="font-family:arial,helvetica,sans-serif"><span style="font-size:10pt">Episurf Medical hired Stephen Caswell to head Global Sales OUS</span></span></span></span></li>
</ul>
<p style="margin-bottom:11px"><span><span><span style="font-family:arial,helvetica,sans-serif"><strong><span style="font-size:10pt"><span><span style="color:#375f74">Significant events after the fourth quarter</span></span></span></strong></span></span></span></p>
<ul>
<li style="font-size: 11pt; font-family:arial,helvetica,sans-serif;"><span><span style="font-size:11pt"><span style="font-family:arial,helvetica,sans-serif"><span style="font-size:10pt">Episurf Medical’s implants approved for sale in Malaysia</span></span></span></span></li>
</ul>
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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 Swedish Securities Markets Act (2007:528). The information was submitted for publication, through the agency of the contact person set out above, at 08.30 CET on 11 February 2022.
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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 (pal.ryfors@episurf.com)
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