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bioretec Half year report H1 Following the road paved by FDA breakthrough designation SIGNIFICANT EVENTS ( During and after the period ) • The company has initiated interactive discussions under the Breakthrough Device Designation program regarding the registration of Reme Os ™ trauma screws for the US market . • The orthopedic market continues to show signs of recovery during the period , after the pandemic market turbulence and net sales grew 44 % compared to the corresponding period of 2020 . • Relocation to new facilities is proceeding as planned and will be completed during Q3 2021 . • The company planned to finalize an IPO and listing on Nasdaq First North Growth Market Finland marketplace in June 2021. The Board of Directors of Bioretec decided to cancel the Offering based on the conclusion of the sole global coordinator and bookrunner of the offering , that the offering could not be completed . The offering , including the over - allotment option , was oversubscribed , but not to a sufficient degree such that the development of the Bioretec share on the secondary market could be expected to be beneficial to Bioretec and the investors . • On June 22 , the company organized funding round in collaboration with Springvest Oy . The share issue was fully subscribed , and the total amount of new equity raised was 7.2 M € . • No significant events have occurred after the period . • Net sales increased by 44 % compared to the same period in 2020 and amounted to 1.0 M € ( H1 / 2020 : 729 k € ) . • The Europe area reported net sales of 526 k € ( 346 k € ) . The increase in sales was due to the market opening after the pandemic , mainly in Austria , Bulgaria , Denmark , Spain , and Slovakia . • The ROW ( Rest of the World ) area reported net sales of 472 k € ( 351 k € ) . A notable increase took place in China having high demand after the pandemic . • The net sales in the USA remained at last year's level . • The Sales Margin was 74 % and in line with the comparison period ( 75 % ) . Key Figures ( 1000 Euros , non - audited ) Net Sales Sales Margin Sales Margin % EBITDA • Net profit ( loss ) amounted to -2.8 M € ( -1.37 M € ) . The costs related to cancelled IPO and listing as well as completed funding round were included in the H12021 income statement and were approximately EUR -1.6 million . • The company continued to invest in the development of the new Reme Os ™ product line . • The Annual General meeting on April 22 , 2021 , decided on a reverse split of company shares , where the number of shares was divided by 15. The impact of the reverse split has been registered in the trade register on April 23 , 2021. As a result , the number of shares has decreased during the period . EBIT Net profit ( loss ) R & D spend on total costs ( % ) Equity ratio ( % ) Cash and cash equivalents HALF YEAR REPORT January - June 2021 KEY FINANCIALS H1 / January - June 2021 Earnings per share ( undiluted ) Earnings per share ( diluted ) Number of shares at the end of the period Number of shares ( diluted ) Personnel¹ Number of personnel at the end of the period H1 2021 1 047 778 74,3 % -1157 -1227 -2 791 39 % 57 % 865 -259,7 -146,1 10 747 858 19 099 006 24 HALF YEAR REPORT BIORETEC H1 / January - June 2021 H1 2020 729 549 75,3 % -970 -1 038 -1 367 21 % 39 % 2 652 -9,1 -5.9 150 007 527 229 998 830 24 FY 2020 1 499 1 103 73.5 % -1787 -1925 -2 259 24 % 35 % 2 273 -15,0 -10.3 150 402 068 218 724 369 23