Nova Eye Medical Ltd · ASX:EYE
Nova Eye Medical — Investor Presentation (May 2019)
16 slides from Nova Eye Medical's investor presentation, May 27, 2019
Slide 1: Ellex Medical Lasers Limited (ASX:ELX) Investor Presentation
Ellex Medical Lasers Limited (ASX:ELX) Investor Presentation Ged Wallace, CEO 2 7 M AY 2 0 1 9 ADELAIDE, AUSTRALIA
Slide 2: Disclaimer
2 I N V E S T O R P R E S E N TAT I O N M AY 2 0 1 9 Disclaimer This presentation has been prepared by Ellex Medical (Ellex, ELX: ASX; OTCQX: ELXMY, ELXMF). While the information in this presentation has been prepared in good faith and with reasonable care, no representation or warranty, express or
Slide 3: Summary Information
3 I N V E S T O R P R E S E N TAT I O N M AY 2 0 1 9 Summary Information KEY FINANCIAL INFORMATION – 31 DECEMBER 2018* KEY MARKET INFORMATION Revenue $41.6 million Ticker ASX / OTCQX ELX / ELXMY, ELXMF EBITDA ($0.9 million) Shares on issue 143.6 million NPAT ($2.7 million) Market Capitalisation (as
Slide 4: Our Business
4 I N V E S T O R P R E S E N TAT I O N M AY 2 0 1 9 Our Business • Comprehensive range of ophthalmic lasers, evolving consumable device business and diagnostic equipment, targeting: • Glaucoma • Age-related macular degeneration (AMD) • Diabetic eye disease • Secondary cataracts • Vitreous opacities
Slide 5: Restructured Management
5 I N V E S T O R P R E S E N TAT I O N M AY 2 0 1 9 Restructured Management • Appointment of Ged Wallace as CEO in April 2019 • Former President of Europe, Middle East and Africa at Boston Scientific (NYSE:BSX), which generated US$1.7 billion in revenue and comprised 1,650 staff • Former President
Slide 6: Our Strategies
6 I N V E S T O R P R E S E N TAT I O N M AY 2 0 1 9 Our Strategies • At the 1HFY19 results, Ellex presented three corporate strategies relating to: • Ellex Laser & Ultrasound: Leverage dominant market position through a combination of technological innovation, new product releases, marketing and co
Slide 7: Second Half Milestones to Date
7 I N V E S T O R P R E S E N TAT I O N M AY 2 0 1 9 Second Half Milestones to Date • LiGHT Study1 showed Selective Laser Trabeculoplasty (SLT) more effective than eye drops in newly diagnosed (first line) glaucoma patients • Ellex Tango™ and Tango Reflex™ SLT lasers have dominant market position •
Slide 8: Recap of 1HFY19
8 I N V E S T O R P R E S E N TAT I O N M AY 2 0 1 9 Recap of 1HFY19 • Sales revenue of $41.6 million, up 9% on the prior corresponding period (pcp) and up 3% on a constant currency FIVE YEAR SALES REVENUE ($m) FIVE YEAR EBITDA ($m) (cc)1 basis • Four year CAGR of 8%, ahead of typical overall indust
Slide 9: 1HFY19 Revenue by Eye Disease (Capital Equipment)
9 I N V E S T O R P R E S E N TAT I O N M AY 2 0 1 9 1HFY19 Revenue by Eye Disease (Capital Equipment) • Glaucoma lasers, notably the world-leading Ellex SLT lasers grew 21% on pcp (up 18% in cc terms) and has now delivered a three year CAGR of 20%. The market remains underpenetrated, and SLT is now
Slide 10: 1HFY19 Financial Results – Lasers & Ultrasound
10 I N V E S T O R P R E S E N TAT I O N M AY 2 0 1 9 1HFY19 Financial Results – Lasers & Ultrasound • Lasers and ultrasound revenue up 4% to $33.9m (up 2% in constant currency terms), gross margin up 620 bps to 58.9% LASERS & ULTRASOUND REVENUE BY DISEASE ($m) LASERS & ULTRASOUND EBITDA ($m) • Sale
Slide 11: 1H19 Financial Results – 2RT
11 I N V E S T O R P R E S E N TAT I O N M AY 2 0 1 9 1H19 Financial Results – 2RT • 532% increase in revenue to $1.2m ELLEX 2RT REVENUE ($m) ELLEX 2RT EBITDA ($m) • Gross margin declined 300 bps to 57% versus pcp as 1.5 unit sales mix initially skewed to distributor markets 0.0 1.25 • Segment EBITD
Slide 12: Ellex iTrack Units by Region
12 I N V E S T O R P R E S E N TAT I O N M AY 2 0 1 9 Ellex iTrack Units by Region • US unit sales were up 27% versus the pcp reflecting continued expansion of accounts and users and higher re-order rates • Approximately 75% of Ellex iTrack procedures are undertaken in the Ambulatory Surgical Settin
Slide 13: 1HFY19 Financial Results – Ellex iTrack
13 I N V E S T O R P R E S E N TAT I O N M AY 2 0 1 9 1HFY19 Financial Results – Ellex iTrack • Unit volumes increased 14% on pcp and revenues were up 24% (up 16% on a cc basis) to $6.5m • Pricing remained stable in USD terms, reimbursement remains very strong in key US market • Higher Average AUD p
Slide 14: Operating Expenditure
14 I N V E S T O R P R E S E N TAT I O N M AY 2 0 1 9 Operating Expenditure • Total operating expenditure was up 21% (14% in cc) to $26.9m (65% sales versus 59% in pcp), which is consistent with Ellex group strategy to provide an enhanced capability to generate solid growth in the glaucoma and iAMD
Slide 15: Outlook
15 I N V E S T O R P R E S E N TAT I O N M AY 2 0 1 9 Outlook • Ellex group sales growth and improved EBITDA result in FY19, subject to global economic conditions and foreign exchange rates • Ellex iTrack EBITDA expected to be similar to FY18 • Ellex Laser & Ultrasound segment FY19 EBITDA growth ver
Slide 16: Contacts
16 I N V E S T O R P R E S E N TAT I O N M AY 2 0 1 9 Contacts GED WALLACE MARIA MAIELI DR. TOM DUTHY JULIA MAGUIRE Chief Executive Officer CFO & Investor Relations & Media Relations Company Secretary Corporate Development The Capital Network W: +61 8 7074 8273 W: +61 8 7074 8200 M: +61 402 493 727