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SEGMENT INFORMATION

12 Months Ended

Dec. 31, 2020

SEGMENT INFORMATION

SEGMENT INFORMATION

29— SEGMENT INFORMATION

We recently implemented organizational changes in our structure and realigned our activity into three divisions: HIFU, ESWL (including lithotripsy activities) and Distribution to better reflect how we view our businesses and how we measure our progress. Through these three divisions, we develop, produce, market and distribute minimally invasive medical devices, mainly for urological diseases. HIFU division includes sales of Focal One, Ablatherm and related consumables and services, ESWL division includes revenues generated by the existing Sonolith range of lithotripters and, Distribution division includes the sale of complimentary products such as lasers, micro-ultrasound systems and other products from third parties.

The organization of our activities into three divisions better clarified our vision and enhanced our financial reporting of our three businesses HIFU, ESWL and Distribution. This new structure also allows for an improved measurement of our business progress.

The business in which the Company operates is the development, production and distribution of minimally invasive medical devices, primarily for the treatment of urological diseases. Substantially all revenues result from the sale of medical devices and their related license and royalty payments from third parties. The segments derive their revenues from this activity.

The following tables set forth the key Statement of income (loss) figures, by segment for fiscal years 2020, 2019 and 2018 and the key balance sheet figures, by segment, for fiscal years 2020, 2019 and 2018. Segment operating profit or loss and segment assets are determined in accordance with the same policies as those described in the summary of significant accounting policies and they are reviewed by the CODM, who is the CEO. Interest income and expense, current and deferred income taxes are not allocated to individual segments. A reconciliation of segment operating profit or loss to consolidated net loss is as follows:

​

​	​	​	​	​	​	​
​		2020		2019		2018
Segment operating income (loss)		269		2,201		(1,315)
Financial income (expense), net		(98)		(146)		797
Foreign Currency exchange (losses) gains, net		(1,359)		136		538
Income tax (expense) credit		(516)		(679)		(358)
Consolidated net profit (loss)		(1,704)		1,512		(338)

​

A summary of the Company’s operations by segment is presented below for years ending December 31, 2020, 2019 and 2018:

​

​	​	​	​	​	​	​	​	​	​	​
​		HIFU		ESWL		DISTRIB		Reconciling		Total
2020	​	Division	​	Division	​	Division	​	Items	​	consolidated
Sales of goods		6,000		6,248		15,274	​	​		27,523
Sales of RPPs & leases		3,594		927		224	​	​		4,745
Sales of spare parts and services		1,831		5,707		1,844	​	​		9,382
Total sales		11,425		12,882		17,342	​	​		41,649
External other revenues		12		—		—	​	​		12
Total revenues		11,438		12,882		17,342	​	​		41,662
Total COS		(5,144)		(7,232)		(10,906)	​	​		(23,283)
Gross profit		6,293		5,649		6,436	​	​		18,379
R&D expenses		(2,583)		(1,555)		(358)	​	​		(4,496)
Selling and marketing expenses		(3,151)		(2,052)		(4,076)	​	​		(9,279)
G&A expenses		(1,005)		(964)		(900)		(1,465)		(4,335)
Total expenses		(6,738)		(4,572)		(5,335)		(1,465)		(18,110)
Operating income (loss) from operations		(445)		1,078		1,102		(1,465)		269
Total Assets		16,279		15,567		20,795		2,551		55,193
Capital expenditures		1,144		309		557		—		2,011
Non-current assets		3,706		2,466		3,628		—		9,801
Goodwill		645		496		1,271		—		2,412

​

​	​	​	​	​	​	​	​	​	​	​
​		HIFU		ESWL		DISTRIB		Reconciling		Total
2019	​	Division	​	Division	​	Division	​	Items	​	consolidated
Sales of goods		8,311		6,715		15,084		—		30,111
Sales of RPPs & leases		4,162		1,426		158		—		5,747
Sales of spare parts and services		1,618		6,048		1,335		—		9,001
Total sales		14,092		14,190		16,578		—		44,859
External other revenues		52		—		—		—		52
Total revenues		14,144		14,190		16,578		—		44,912
Total COS		(6,152)		(7,816)		(9,941)		—		(23,909)
Gross profit		7,991		6,374		6,637		—		21,002
R&D expenses		(1,962)		(1,394)		(372)		—		(3,728)
Selling and marketing expenses		(4,402)		(2,441)		(4,008)		—		(10,850)
G&A expenses		(1,168)		(904)		(854)		—		(4,224)
Total expenses		(7,533)		(4,738)		(5,233)		—		(18,802)
Operating income (loss) from operations		459		1,635		1,404		—		2,201
Total Assets		16,665		15,892		16,500		4,012		53,068
Capital expenditures		915		298		319		—		1,532
Non-current assets		4,096		4,448		2,427		—		10,971
Goodwill		645		450		1,317		—		2,412

​

​	​	​	​	​	​	​	​	​	​	​
​		HIFU		ESWL		DISTRIB		Reconciling		Total
2018	​	Division	​	Division	​	Division	​	Items	​	consolidated
Sales of goods		5,494		7,069		12,505		—		25,070
Sales of RPPs & leases		3,750		1,254		82		—		5,086
Sales of spare parts and services		1,780		6,157		1,070		—		9,007
Total sales		11,025		14,480		13,657		—		39,163
External other revenues		19		—		—		—		19
Total revenues		11,044		14,480		13,657		—		39,183
Total COS		(5,312)		(8,178)		(8,775)		—		(22,266)
Gross profit		5,732		6,302		4,882		—		16,917
R&D expenses		(2,394)		(1,410)		(285)		—		(4,088)
Selling and marketing expenses		(4,628)		(2,357)		(3,566)		—		(10,551)
G&A expenses		(1,036)		(731)		(580)		(1,247)		(3,593)
Total expenses		(8,057)		(4,498)		(4,431)		(1,247)		(18,232)
Operating income (loss) from operations		(2,325)		1,804		451		(1,247)		(1,316)
Total Assets		13,648		16,700		13,149		5,243		48,740
Capital expenditures		1,154		451		324		—		1,928
Non-current assets		2,855		3,697		1,462		—		8,013
Goodwill		645		403		1,364		—		2,412

​

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The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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