Surgical Innovations : Interim Report 2022

2022 Interim Results

David Marsh, Chief Executive Officer Charmaine Day, Chief Financial 1Officer

Company Overview

Founded by Prof. Michael

McMahon, leading

Laparoscopic surgeon

Leading the change to

sustainable surgical devices

Design & Manufacturing expertise in innovative surgical devices

Direct sales in UK.

Global distribution through

a network of Global

Partners

Focus on Minimally

Invasive Surgery (MIS)

Strong industry partnerships,
most recently in robotics,
leveraging design expertise	2

Financials

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Financial Highlights

	2022 H1	Change vs.	2021 H1	Change	2019 H1
	prior
			vs pre-	pre-
		comparative
			pandemic	pandemic
Revenues1	£5.41m	+28%	£4.22m	+6%	£5.10m
Underlying	45.3%	+2.9%	42.4%	+3.0%	42.3%
Gross Margin1
Adj. EBITDA2	£0.29m	+0.44m	£(0.15)m	-0.36m	£0.65m
Adj. operating	(£0.01)m	+0.14m	£(0.15)m	-0.23m	£0.22m
(loss)/profit2
Adj. (loss)/
earnings	(0.004)p	-	(0.004)p	-0.027p	0.023p
per share
(pence)2

1. Comparative information is shown for the six months ended 30 June 2021 ("2021H1"), except where otherwise stated. Information for the six months ended 30 June 2019 ("2019 H1") has been included to provide a comparison with pre-pandemic trading.
2. Adjusted EBITDA, adjusted operating (loss)/ profit and adjusted EPS are stated before deducting non-recurring exceptional costs of £0.03m (2021 H1: nil, 2019 H1: £0.18m), amortisation and impairment of intangible acquisition

costs of £nil (2021 H1: nil, 2019 H1: £0.18m) and share based payment costs of £0.02m (2021 H1 £0.01m, 2019 H1: £0.10m).

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Revenue Analysis

Revenue by Segment £'m

6.00

5.00

4.00

3.00

2.00

1.00

0.00

H1 2022

H1 2021

H1 2020

H1 2019

SI Distribution OEM

SI Brand sales back to relatively normal levels

Distribution showing strong growth, exceeding 2019 and up by 34.7%

OEM recovering with new partner collaborations, additional orders in H2

Continued overall momentum into H2

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