Solid Balance Sheet Medacta's balance sheet remains robust, with total assets increasing to EUR 441.9 million and an equity ratio of 37.3% at the end of the reporting period (29.9% in 2019). The adjusted free cash flow generated in 2020 amounted to EUR 31.9 million after significant investments in new instruments and research and development to sustain the future growth of Medacta. During 2020, in a prudent effort to strengthen our balance sheet and continue to invest in our Group's future growth, and in light of uncertainty due to the pandemic, our Board of Directors decided not to propose to the Annual General Meeting any distribution of the dividend for the 2020 financial year.

2021 Outlook We will continue to monitor the evolution of the Covid-19 pandemic and impact on our reference market, while remaining committed to our future growth. Despite uncertainty remaining in some geographies, we believe Medacta is well positioned to deliver growth as a result of our global geographic presence and product mix, continued innovation with several new product introductions expected during the year, hiring plans for expansion in all geographies, and a focus on the US market. We are targeting 2021 revenue in the range of Euro 333 million to Euro 348 million at constant currency and adjusted EBITDA margin to be largely in line with the previous year, subject to any unforeseen events, specifically from Covid-19 pandemic. Detailed Reporting Medacta's Annual Report 2020 can be downloaded via this link: https://www.medacta.com/EN/financial-reports

Forward Financial Calendar

- 25 May 2021 Annual General Meeting

- 20 July 2021 Publication of 2021 Half-year unaudited top-line figures

- 10 September 2021 Half-year results 2021 Webcast Today at 3:00 pm (CEST) Medacta Group SA will present its Full Year 2020 Financial Results during a webcast today at 3:00 pm (CEST). The results call will be headed by Francesco Siccardi (CEO) and Corrado Farsetta (CFO). The conference will be held in English.

Live-Link: https://www.webcast-eqs.com/medactaint20210331

For participants to the conference call (slides only): https://www.webcast-eqs.com/medactaint20210331/no-audio

Dial-in numbers for conference call function only: CH: +41 445806522 DE: +49 69201744220 UK: +44 2030092470 USA: +1 8774230830

PIN: 37721714# Contact Medacta International SA Gianna La Rana, Head of Investor Relations Phone: +41 91 696 14 95 investor.relations@medacta.ch About Medacta Medacta is an international company specializing in the design, production, and distribution of innovative orthopaedic products, as well as in the development of accompanying surgical techniques. Established in 1999 in Switzerland, Medacta is active in joint replacement, spine surgery, and sports medicine. Medacta is committed to improving the care and well-being of patients and maintains a strong focus on healthcare sustainability. Medacta's innovation, forged by close collaboration with surgeon leaders globally, began with minimally invasive surgical techniques and has evolved into personalized solutions for every patient. Through the M.O.R.E. Institute, Medacta supports surgeons with a comprehensive and tailored program dedicated to the advancement of medical education. Medacta is headquartered in Castel San Pietro, Switzerland, and operates in over 40 countries.

Disclaimer This press release has been prepared by Medacta Group SA ("Medacta" and together with its subsidiaries, "we", "us" or the "Group"). The information contained in the press release does not purport to be comprehensive and is not to be taken as containing any securities advice, recommendation, offer or invitation to subscribe for, purchase or redeem any securities regarding Medacta. The information contained in the press release does not purport to be comprehensive. Please refer to the Medacta 2020 Annual Report available on our website at https://www.medacta.com/EN/investors. Forward-looking information This press release has been prepared by Medacta and includes forward-looking information and statements concerning the outlook for our business. These statements are based on current expectations, estimates and projections about the factors that may affect our future performance. These expectations, estimates and projections are generally identifiable by statements containing words such as "expects", "believes", "estimates", "targets", "plans", "outlook" or similar expressions. There are numerous risks and uncertainties, many of which are beyond our control, that could cause our actual results to differ materially from the forward-looking information and statements made in this press release. Currently, it is very difficult to provide a meaningful prediction on how the Swiss governmental action in response to the ongoing outbreak of a novel coronavirus disease (Covid-19) will affect the Medacta's operations and how long such measures will remain in place. The Covid-19 outbreak has caused, and may continue to cause, economic instability and a significant decrease of total economic output in the affected areas and globally. The impact of the Covid-19 outbreak on the general economic environment in the markets in which Medacta operates remain uncertain and could be significant. In addition, other important factors that could cause such differences include: changes in the global economic conditions and the economic conditions of the regions and markets in which the Group operates; changes in healthcare regulations (in particular with regard to medical devices); the development of our customer base; the competitive environment in which the Group operates; manufacturing or logistics disruptions; the impact of fluctuations in foreign exchange rates; and such other factors as may be discussed from time to time. Although we believe that our expectations reflected in any such forward-looking statement are based upon reasonable assumptions, we can give no assurance that those expectations will be achieved.

Alternative Performance Measures This press release contains certain financial measures of historical performance that are not defined or specified by IFRS, such as "constant currency", "EBITDA", "Adjusted EBITDA" or "CORE EBITDA", "Free Cash Flow", "Adjusted Free Cash Flow", "Net Debt" and "Leverage". Reconciliation of these measures as well as "CORE" financial measures is provided in the "Alternative Performance Measures" (APM) section of our 2020 annual report. These Alternative Performance Measures (APM) should be regarded as complementary information to, and not as a substitute for, the IFRS beginning performance measures. For definitions of APM, together with reconciliations to the most directly reconcilable IFRS line items, please refer section headed "Alternative Performance Measures" of the 2020 annual report. The 2020 annual report is available at https://www.medacta.com/EN/financial-reports. ^[1] Alternative Performance Measures: This press release contains certain financial measures of historical performance that are not defined or specified by IFRS, such as "constant currency", "EBITDA", "Adjusted EBITDA" or "CORE EBITDA", "Free Cash Flow", "Adjusted Free Cash Flow", "Net Debt" and "Leverage". Reconciliation of these measures as well as "CORE" financial measures is provided in the "Alternative Performance Measures" (APM) section of the 2020 annual report. These Alternative Performance Measures (APM) should be regarded as complementary information to, and not as a substitute for the IFRS beginning performance measures. For definitions of APM, together with reconciliations to the most directly reconcilable IFRS line items, please refer section headed "Alternative Performance Measures" of the 2020 annual report. The 2020 annual report is available at https://www.medacta.com/EN/financial-reports. ^[2] Orthopedic industry is expected to decline in the low double digits in 2020. Source ORTHOWORLD^(R), April 2021 Bulletin. ----------------------------------------------------------------------------------------------------------------------- End of ad hoc announcement -----------------------------------------------------------------------------------------------------------------------


Language:     English 
Company:      Medacta Group SA 
              Strada Regina 
              6874 Castel San Pietro 
              Switzerland 
Phone:        +41 91 696 6060 
E-mail:       info@medacta.ch,investor.relations@medacta.ch 
Internet:     www.medacta.com 
ISIN:         CH0468525222 
Listed:       SIX Swiss Exchange 
EQS News ID:  1179842 
 
End of Announcement EQS Group News Service 
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1179842 31-March-2021 CET/CEST

(END) Dow Jones Newswires

March 31, 2021 01:02 ET (05:02 GMT)