Medical Developments International Limited · ASX:MVP
Medical Developments International — H1 FY2023 Earnings Presentation
20 slides from Medical Developments International's earnings presentation, Feb 24, 2023
Slide 1: FY23 Half Year Results
ASX:MVP FY23 Half Year Results 24 February 2023
Slide 2: Important notice and disclaimer
Important notice and disclaimer This presentation contains summary information about Medical Developments International Limited (ACN 108340667) and its related bodies corporate (together, MDI) and MDI’s activities as at the date of this presentation. It is information given in summary form only and
Slide 3: Financial highlights
FY23 Half Year Financial highlights Revenue Pain Management Revenue Respiratory Revenue $13.9m 1 $7.6m1 $6.2m +45% +27% +81% Underlying EBIT Underlying Adjustments NPAT $(8.1)m $11.5m2 $2.7m +4% (pcp $0.9m loss) (pcp $7.4m loss) 3 1. Excludes Contract termination revenue of $18.9 million (refer to t
Slide 4: Growth opportunities remain attractive
Operational highlights Growth opportunities remain attractive In-market team deployed in Australia to accelerate penetration of Penthrox in hospital emergency departments Penthrox volumes in France up 24% but below expectation, with challenges across the health system Strong growth in partner market
Slide 5: Financial Performance
FINANCIAL PERFORMANCE
Slide 6: Earnings summary
Earnings summary FY23 half year results $million 1H22 1H23 Change % Revenue1 9.6 13.9 45% Underlying EBIT (8.5) (8.1) 4% Underlying Adjustments2 (0.9) 11.5 - Reported EBIT (9.4) 3.4 - NPAT (7.4) 2.7 - Commentary • Higher volumes in both Pain Management and Respiratory segments • Price increases succ
Slide 7: Strong revenue and volume growth
Revenue and volume Strong revenue and volume growth Underlying revenue ($million) 1H22 1H23 Change % Commentary Product revenue 5.9 7.0 19% Pain management revenue up 27% Milestone and other revenue 0.1 0.6 - Pain Management 6.0 7.6 27% • France volumes up 24% against a challenging Respiratory 3.4 6
Slide 8: Volume and pricing drive margin improvement
EBIT bridge Volume and pricing drive margin improvement Commentary Underlying EBIT bridge ($millions) • Higher Penthrox volumes, improved pricing and Investment in commercial and higher milestone income in Pain Management Gross margin functional capability to support improvement growth initiatives •
Slide 9: Investment to support growth
Balance sheet and cashflow Investment to support growth Key balance sheet items Commentary $million FY221 1H23 Change $m • Improvement in customer collections Trade receivables 6.1 5.7 (0.4) • Investment in inventory to support growth Inventory 7.1 10.6 3.5 in both Pain Management and Respiratory Tr
Slide 10: FY23 Priorities and Outlook
BY Z35 PRIGKIMIES AND DUTLOOK|
Slide 11: France growth strategy: Attractive growth opportunity for Penthrox
France growth strategy Attractive growth opportunity for Penthrox Positive customer feedback despite challenging conditions • Ease of use and resourcing efficiency differentiate Penthrox • Attractive customer base with >300 existing customers • Volume growth of 24% in 1H23 with annual run rate of ~6
Slide 12: Australian business expansion: Drive penetration in emergency departments
Australian business expansion Drive penetration in emergency departments Field team deployed, will drive deeper and broader Attractive market market penetration opportunity1 Procedural 17% • In-market team recruited and deployed Ambulance 31% Outpatients • New marketing campaign launched 7% -Support
Slide 13: Partner growth strategy: Momentum building
Partner growth strategy Momentum building Delivering success in new and existing markets • Continued growth in UK and Ireland, monthly in-market Penthrox volumes achieving new thresholds • Re-launch of Penthrox in Canada with motivated new partner, strong forecast demand with additional shipment ord
Slide 14: USA market entry: Plans advancing
USA market entry Plans advancing The USA will drive a new wave of expansion succeeding the current European and Australian growth • Detailed commercial market assessment underway to inform: -Addressable market and commercial pathway -Resource requirements to access -Potential partners • Clinical pro
Slide 15: FY23 priorities: Growth in the 2nd half
FY23 priorities Growth in the 2 half nd Pain Management • Complete US commercial market assessment and advance funding plan • Accelerate growth in France • Grow in Australian hospital emergency departments • Positive momentum to continue in partner markets -Re-launch in Canada -Continue growth in UK
Slide 16: Appendix
Appendix
Slide 17: Company overview
Company overview • Medical Developments International Limited (ASX:MVP) is an Australian based pain management and respiratory company • The Company’s lead product Penthrox (The Green Whistle®), an inhaled, needle- free, non opioid analgesic, is manufactured in Australia and sold globally • The Comp
Slide 18: Penthrox: Over 8 million used worldwide
Penthrox Over 8 million used worldwide The superior efficacy, safety and administration The iconic Green Whistle benefits of Penthrox deliver improved patient outcomes and lower overall costs • Inhaled needle-free analgesic1 • Non-opioid1 • Portable, self administered device1 • Effective pain relief
Slide 19: Respiratory: Assisting patients manage asthma and COPD
Respiratory Assisting patients manage asthma and COPD 1 Providing pharmacies, medical clinics and hospitals with a range of respiratory devices which assist patients to manage At home On the go asthma and COPD1 •Space chambers •Portable nebulisers •Silicon Face Masks 19 1. Chronic Obstructive Pulmon
Slide 20: FY23 Half Year Results
ASX:MVP FY23 Half Year Results 24 February 2023
Medical Developments International — H1 FY2023 Earnings Presentation on 6ix