Sisram Medical Ltd Announces 2022 Interim Results

Strong revenue momentum with solid growth and global expansion, Continue First the wellness ecosystem

HONG KONG, August 19, 2022 /PRNewswire/ — Sisram Medical Ltd (the “Company” Where “Siram”, stock code: 1696.HK; with its subsidiaries collectively referred to as the “Band”), a global consumer wellness group with a one-of-a-kind synergistic ecosystem of business building blocks and consumer-driven branding ranging from energy-based devices, injectables, aesthetics and digital dentistry, personal care and more, today announced its unaudited consolidated interim results for the six months ended June 30, 2022 (there “Reporting period“). Sisram will organize a corresponding conference call at 8:30 p.m. PT / 8:30 a.m. ET on August 22, 2022 (Monday) to discuss interim results and provide activity update, registration listed below.

FINANCIAL HIGHLIGHTS

  • The turnover was $174.5 millioni.e. an increase of 39.3% compared to the half-year ended June 30, 2021.

  • Profit for the period attributable to owners of the parent company was $20.6 millioni.e. an increase of 25.9% compared to the half-year ended June 30, 2021.

  • Revenue from direct sales for the period represented 64.8% of total revenue, compared to 59.7% for the corresponding period in 2021.

  • The Company experienced significant growth in all regions, primarily in North America and APAC. North America recognized revenue $69.9 million over the reference period, which represents an increase of 42.2% compared to $49.1 million for the corresponding period in 2021. Revenues generated by APAC increased by 42.0% to reach $47.9 million in the reporting period from $33.7 million for the corresponding period in 2021.

MAJOR ACHIEVEMENTS IN H1 2022

  • Constant investment in R&D, successful introduction of three new products: “Alma TED™”, “CBD+ Professional Skincare Solution™” and “LMNT one™”.

  • Diversified and enriched injectable businesses: Sisram has invested in a company focused on the research and development of composite silk fibroin-sodium hyaluronate gels and spun products for facial implants. An innovative regenerative material new to the injectable market, silk fibroin and its derivatives should enrich Sisram’s comprehensive portfolio and its solutions offerings for the wellness ecosystem.

  • Expansion of aesthetics and digital dentistry business areas: investment in innovative bio-glass materials, combined with high-end technologies, enhances Sisram’s product portfolios with aesthetic computer-aided design, restorative products and non-invasive veneers.

  • Creation of a new direct office at UK to support the rapid growth in demand for Sisram products and services on the European continent.

  • Building brand awareness and improving customer loyalty: We discussed industry developments and trends with hundreds of physicians, academics and business partners around the world at Global Alma events Academy. Meanwhile, the company is continuously improving the global customer experience, reaching potential customers from multiple channels, achieving tremendous conversion, and exploring cross-selling opportunities in the wellness ecosystem.

Solid financial performance reflected in sustainable and profitable growth

In the first half of 2022, Sisram recorded a turnover of $174.5 millionwhich represents an increase of 39.3% compared to the corresponding period in 2021. This increase is mainly attributable to Sisram’s continued expansion of its existing distribution network, the successful introduction of new products and a new B2C activity.

Profit for the period attributable to owners of the parent company was $20.6 millionincreased by 25.9% compared to the corresponding period of 2021. During the first half of 2022, the Group’s gross margin was $99.6 million compared to US$71.5 million for the corresponding period in 2021, representing an increase of 39.4%, driven by the Company’s continued expansion of direct sales and high-yield product launches in key markets. During the period, revenue from direct sales amounted to 64.8% of total revenue versus 35.2% of total revenue attributed to sales through distributors.

During the reporting period, the Group recorded a pre-tax profit of $23.1 million and the profit recorded for the period of $20.5 millionwhich represents an increase of 14.6% and 18.2%, respectively, compared to the corresponding period of 2021. The increase in profit before tax and profit for the period is mainly due to the increase in the volume of sales and increased gross margin.

During the reporting period, the Group recorded an adjusted net profit of $24.9 millionan increase of 27.5% compared to the corresponding period of 2021.

Steady growth across all regions with an enhanced family of ecosystem brands

As a multinational entity, Sisram goes to great lengths to tailor its head office operations to local country/state characteristics, while simultaneously creating an ecosystem brand experience. During the reporting period, sales in all regions increased significantly, with North America showing a 42.2% increase, APAC with a 42.0% increase, Middle East and Africa with an increase of 40.5%, Latin America with an increase of 38.2% and Europe with an increase of 28.9%.

Regarding the diversified portfolio of ecological products, Sisram will continue to introduce innovative technologies and products through continuous investment in R&D. With the expansion of direct sales, we can also effectively collect customer feedback to close the loop with R&D and meet the needs of different regions. Eventually enhance the impact of our family of global brands.

H2 2022 OUTLOOK

In the second half of 2022, Sisram intends to follow its strategy of constructive disruption by evaluating and implementing near-future technologies, businesses and synergies to strengthen its global position. The Group’s efforts throughout 2022 will strategically focus on lean innovation, digitization and building a wellness ecosystem.

True to its corporate vision of “Improving the Quality of Life”, Sisram will continue to establish its global positioning as a one-of-a-kind business group in the wellness industry by improving global direct operations and exploring direct untapped opportunities in North AmericaACPA, Europeand the Middle East. In addition, the company will expand its product offerings from energy-based devices to broader wellness areas with a focus on leading global sexual wellness products, and continue to invest in research and development in the fields of injectables and aesthetics and digital dentistry in China.

Looking forward, Mr. Liu YiChairman and CEO of Sisramcommented, “Sisram has always adhered to the customer-centric philosophy, providing consumers and beauty enthusiasts with effective wellness solutions. Looking at the first half of the year, Sisram continued to consolidate its global structure in an orderly manner. Until the second half of the year, we will remain true to the company’s mission, fostering the synergy of four business segments and providing customers with diversified and beneficial wellness solutions around the world. “

Mr. Lior DayanCEO of Sisram and Almasaid: “During the first half of 2022, significant efforts were invested in ramping up production to meet growing global demand. For the second half, we will focus on following the strategic planning of our ecosystem by strengthening our R&D capabilities, portfolio products and distribution channels, to achieve internal organic growth as well as external expansion.”

Conference call

Sisram will organize a conference call at 8:30 p.m. PT / 8:30 a.m. ET on August 22, 2022 (Monday) to discuss intermediate results and take stock of activities. Those interested in listening to the conference call can do so by registering using the following link:

https://AlmaLasers.activetrail.biz/Sisram-IR-form.

After registration, you will immediately receive the login details. To avoid delays, we encourage participants to dial into the conference call fifteen minutes before the scheduled start time.

A replay will also be available on Sisram Medical’s event page at:

Events and presentations – Sisram

About Sisram Medical Ltd

Sisram Medical Ltd (1696.HK) is a global consumer wellness group, with a unique synergistic ecosystem of business building blocks and consumer-driven branding, ranging from devices to energy base, injectables, aesthetics and digital dentistry, personal care and more. The company is majority owned by Fosun Pharma, one of China large health groups. On September 19, 2017Sisram Medical went public, becoming the first Israeli company to list on the main board of the Hong Kong Stock Exchange.

Sisram Medical – Improving the quality of life

http://www.sisram-medical.com

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SOURCE Sisram Medical Ltd

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