Ekf Diagnostics Holdings Plc · LSE:EKF
Ekf Diagnostics — FY2020 Earnings Presentation
20 slides from Ekf Diagnostics's earnings presentation, Mar 30, 2021
Slide 1: EKF Diagnostics Holdings plc Results for the year ended 31 December 2020
EKF Diagnostics Holdings plc Results for the year ended 31 December 2020 30 March 2021
Slide 2: Disclaimer
Disclaimer The information contained in these slides and the accompanying oral presentation (together, the “Presentation”) has been prepared by EKF Diagnostics Holdings plc (the “Company”). The Presentation is subject to updating, completion, revision and amendment without notice and as such it may
Slide 3: Agenda
Agenda Slide no. Financial highlights 4 Operational highlights 5 Contract manufacturing & COVID-19 6 Life Sciences 7 Global revenue breakdown 8 Performance by Business Unit in detail 9 Commercial partnerships 12 2021 Outlook 13 Financial report 14
Slide 4: Financial highlights
Financial highlights 65.3 Revenues up 45% to £65.3m (2019: £44.9m) • DiaSpect Tm up £548k (15%) • 44.9 Quo-Lab up £210k (9%) 42.5 41.6 • Contract manufacturing up from £175k to £26.3m 38.6 Gross profit up 58% to £37.4m (2019: £23.7m) £M 30.0 Adjusted EBITDA1 up 113% to £25.5m (2019: £12.0m) Profit b
Slide 5: Operational highlights
Operational highlights Significant improvements in revenue and profit, resulting from successful COVID-19 related contract manufacturing business Core business held up well. Revenues down £6.5m YoY (-14%) however there were strong performances and signs of a steady recovery are apparent: • DiaSpect
Slide 6: Contract manufacturing upscaled in response to COVID-19
Contract manufacturing upscaled in response to COVID-19 Existing relationship with Longhorn Vaccines & Diagnostics, based in San Antonio • c. 20,000 tubes of PrimeStore MTM sold in 2019 • 2019 revenue: £44,095 Demand for PrimeStore MTM increased exponentially in Q2 2020 in US • Filled and capped tub
Slide 7: Life Sciences
Life Sciences Overall core business from customers such as Roche continued with minor loss of business Oragenics: Business continued more slowly as their focus switched from the lantibiotic to the COVID vaccine. Despite this progress was achieved: • Scale-up development phase starting Q3 2022 onward
Slide 8: Global revenue breakdown
Global revenue breakdown USA & Canada APAC ▪ £15.9m sales of PrimeStore MTM ▪ Biosen up 21% ▪ McKesson Consult up 35% ▪ Quo-Lab up 3% ▪ b-HB down 9% ▪ Chemistry down 11% ▪ HemoPoint H2 down 42% ▪ DiaSpect Tm down 37% ▪ Lactate Scout down 63% ▪ Quo-Test down 50% ▪ UltraCrit down 39% EMEA ▪ £9.7m sale
Slide 9: Central Laboratory & Life Sciences FY 2020
Central Laboratory & Life Sciences FY 2020 Clinical chemistry, lab analysers, contract fermentation and enzymes Revenues up £24.9m (405%) to £31m Contract manufacturing up from £175k to £26.3m Central Lab & Life • PrimeStore MTM tube and bulk liquid manufacturing Sciences • PBS solution introduced i
Slide 10: Diabetes FY 2020
Diabetes FY 2020 Revenues down £1,551k (-7.5%) Quo-Lab up £210k (9%) Diabetes range • 24% growth in sales of reagents in EMEA markets Biosen C-Line STAT-Site β-HB and STAT-Site WB up £39k (2%) Quo-Lab A1c Quo-Test A1c β-HB LiquiColor reagent down £847k (9%) STAT-Site WB • Sales in 2020 impacted by t
Slide 11: Hematology FY 2020
Hematology FY 2020 • Revenues down £2,771k (-20%) Hematology range • DiaSpect Tm up £548k (15%) • Strong performances from McKesson and Fresenius OEM agreements DiaSpect Tm • Kenyan tender c. 2m tests HemataStat II • Won first blood bank tender in Scotland c. 400k tests Hemo Control • Hemo Control a
Slide 12: Commercial partnerships
Commercial partnerships Preferred partnership agreement with Mount Sinai Innovation Partners (MSIP), NYC (Sept. 2019) • Agreement provides EKF with advanced access to innovative commercial opportunities arising from Mount Sinai Health System (MSHS) owned technologies managed by MSIP in the field of
Slide 13: 2021 Outlook
2021 Outlook The Board is confident that trading for the year ending 31 December 2021 will be significantly ahead of already upgraded management expectations throughout 2021 • 30 March 2021 announced the signing of a multi-million dollar global supply contract with a private sector partner • Core bu
Slide 14: Financial report
Appendix Financial report ekfdiagnostics.com
Slide 15: Consolidated Income Statement (Extract)
Consolidated Income Statement (Extract) FY 2020 £k FY 2019 £k +/- £k Revenue 65,260 44,917 20,343 Gross profit 37,420 23,727 13,693 GM % 57% 53% 4% Administrative expenses (20,658) (18,280) (2,378) Other income 133 337 (204) EBITDA 25,516 12,005 13,511 Share based payments (5,292) (2,118) (3,174) Ex
Slide 16: Consolidated Balance Sheet (Extract)
Consolidated Balance Sheet (Extract) FY 2020 £k FY 2019 £k +/- £k Property, plant, equipment 12,620 12,179 441 Intangible assets 37,051 37,767 (716) Inventories 8,487 6,073 2,414 Trade / other receivables 13,553 8,097 5,456 Cash and cash equivalents 21,913 12,074 9,839 Trade / other payables 14,435
Slide 17: Balance Sheet: Assets at 31 December 2020
Balance Sheet: Assets at 31 December 2020 Selected items FY 2020 £k FY 2019 £k +/- £k Non-current assets Property, plant, equipment 12,620 12,179 441 Right-of-use assets 1,019 1,002 17 Intangible assets 37,051 37,767 (716) Investments 6,608 9,900 (3,292) Deferred tax assets 14 34 (20) Total non-curr
Slide 18: Balance Sheet: Equity and Liabilities at 31 December 2020
Balance Sheet: Equity and Liabilities at 31 December 2020 Selected items FY 2020 £k FY 2019 £k +/- £k Total equity 78,200 71,172 7,028 Total non-current liabilities 3,649 3,099 550 Current liabilities Trade and other payables 14,435 7,470 6,965 Lease liabilities 380 286 94 Deferred consideration 2,9
Slide 19: Cash Flow
Cash Flow FY 2020 £k FY 2019 £k +/- £k Net cash generated by operating activities 13,809 5,100 8,709 Net cash generated by /(used) in investing 1,336 (2,396) 3,732 activities Net cash used in financing activities (5,209) (634) (4,575) Net increase in cash and cash equivalents 9,936 2,070 7,866 Excha
Slide 20: Thanks
Thanks for your attention
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