(AOF) – Spineway confirms for 2022 an annual turnover of 7.4 million euros, up 73% compared to 2021. The specialist in ranges of implants and surgical instruments for pathologies severe spine stresses that its gross margin rate on sales “continues to improve” and rose by 1.4 points to 69%, with 5.1 million euros in amount. The group posted an operating loss of 3.2 million euros, due to expenses related to the integration of Spine Innovations and “the intensification of investments”.
The loss amounted to 1.4 million euros in 2021.
The investments “necessary for development” made in 2022 relate to regulatory and scientific expenditure, the increase in R&D and marketing activities, as well as an increase in the workforce.
The group emphasizes that its financial structure “remains healthy” with cash of 5.5 million euros and cash net of financial debt of 4.1 million euros for shareholders’ equity of 22.0 million euros at December 31, 2022.
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Loss of speed in European research
European research is losing ground to American and Chinese research. In twenty years, Europe’s share has fallen from 41% to 31% in global R&D. China’s share jumped from 1% to 8%. As for the United States, which supplanted Europe, in 2001 it devoted only 2 billion euros per year more than Europe to R&D, whereas now this gap has reached 25 billion! Some experts accuse the European authorities of not having deployed effective policies. The financing of pharmaceutical research should therefore have been better targeted via the “Horizon 2020” programme. France only comes in eighteenth position in European funding despite the quality of its research. Conversely, the United States concentrates funding on Boston and a few centers of excellence.