Tristel Plc · LSE:TSTL
Tristel — H1 2022 Earnings Presentation
18 slides from Tristel's earnings presentation, Feb 21, 2022
Slide 1: Tristel plc Interim Results Investor Presentation
Tristel plc Interim Results Investor Presentation 6 Months to 31 December 2021 Paul Swinney, CEO Liz Dixon, FD 21-24 February 2022 1
Slide 2: H1 2021: Refocussing the Business
H1 2021: Refocussing the Business • COVID-19: ➢ Impact upon business receding • North America: ➢ Gearing up for action • Discontinuation of non-core operations: ➢ Refocus on Hospital ClO2 2
Slide 3: North America: Good Progress
North America: Good Progress • EPA state-by-state registrations restarted: Jet & Duo ➢ Completion target June 2022 ➢ Skin surface ultrasound opportunity • FDA dossier preparation phase: Duo ULT ➢ Submission target June 2022 • Canada distribution plan in preparation: Duo OPH 3
Slide 4: Discontinuation of Non-Core: Reasons
Discontinuation of Non-Core: Reasons Underlying Continuing sales Discontinued sales 15,000,000 2,500,000 14,500,000 2,000,000 14,000,000 Sales increase 13,500,000 83% GM 1,500,000 13,000,000 195 SKUs Sales decline 12,500,000 ClO2 active 1,000,000 53% GM 12,000,000 500,000 173 SKUs 11,500,000 15 acti
Slide 5: Discontinuation of Non-Core: Outcomes
Discontinuation of Non-Core: Outcomes • Increase rate of top line growth. 3-year plan 2022-25 to be reset July 22 • Drive up gross margins: 83% in H1 • Allows repositioning of cost to core activities: All company resource focussed on 1 product range, 1 market, 1 technology • Enables regulatory affai
Slide 6: Sharpened Focus: Product Portfolio
Sharpened Focus: Product Portfolio Medical device decontamination Sporicidal surface disinfection 6
Slide 7: H1 2021 Financial Highlights: Continuing Operations
H1 2021 Financial Highlights: Continuing Operations • Underlying revenues* up 5% to £14.5m (H1 21: £13.8m) and 17% higher than pre-pandemic H1 20 • Gross margin of 83% (H1 21: 83%) against 53% for Discontinued products • Adjusted† EBITDA of £3.3m (H1 21: £3.9m) Adjusted† EBITDA margin 24% (H1 21: 26
Slide 8: H1 2021 Sales Growth by Geography
H1 2021 Sales Growth by Geography 2020-21 2021-22 Half on half Region H1 H1 variance £m £m % APAC 2.9 3.2 10% Europe 5.6 5.6 - International distributors 1.5 1.2 (20%) Total overseas sales: Continuing 10.0 10.0 - UK sales: Continuing 4.7 3.6 (21%) Total Continuing sales 14.7 13.6 (7%) Remove Brexit
Slide 9: H1 2021 Sales Growth Through the Pandemic
H1 2021 Sales Growth Through the Pandemic 8,000,000 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 - Jul-Sep 19 Oct-Dec 19 Jan-Mar 20 Apr-Jun 20 Jul-Sep 20 Oct-Dec 20 Jan-Mar 21 Apr-Jun 21 Jul-Sep 21 Oct-Dec 21 -1,000,000 Tristel Medical Devices Cache Surfaces Other Brexit 9
Slide 10: Summary ESG and outlook
SummaryESG and outlook Leadership roles (ex-BOD) Salary range by gender Board gender split Independent NEDs 200,000-250,000 150,000-200,000 Male 100,000-125,000 Female Salary range 75,000-100,000 Male Female Independent Male Female 50,000-75,000 Non-independent 25,000-50,000 0-25,000 ESG actions to
Slide 11: Product Strategy Contributing to ESG
PRODUCT STRATEGY CONTRIBUTING TO ESG SAVING SPACE REDUCING WASTE & EMISSIONS THE CAPSULE
Slide 12: Summary and outlook
Summary and outlook • Underlying first half growth • End of Brexit distortions • COVID impact receding • Sharpened focus on high margin, high growth products • Remain profitable, cash generative & debt-free • Broad geographically based growth strategy continues to deliver • Long term prospects conti
Slide 13: Questions?
QUESTIONS? Tristel 13
Slide 14: Appendix – Income Statement
APPENDIX – INCOME STATEMENT 6 months to 6 months to 31.12.21 31.12.20 CONTINUING OPERATIONS £’000 £’000 Turnover 13,646 14,726 Cost of sales (2,334) (2,453) Gross profit 11,312 12,273 Gross margin % 83% 83% Administrative expenses less other income (8,015) (8,378) EBITDA & shared based payments 3,29
Slide 15: Appendix – Balance Sheet
APPENDIX – BALANCE SHEET 31.12.21 31.12.20 Non-current assets £’000 £’000 Goodwill and other intangible assets 9,190 13,577 Property, plant and equipment 8,263 8,603 Deferred tax 1,990 852 19,443 23,032 Current assets Inventories 3,751 3,993 Trade and other receivables 4,842 5,888 Cash and cash equi
Slide 16: Appendix – Balance Sheet Continued
APPENDIX – BALANCE SHEET …Continued 31.12.21 31.12.20 Capital and reserves £’000 £’000 Share capital 472 465 Share premium account 13,929 12,891 Merger reserve 2,205 2,205 Foreign exchange reserve (128) 367 Retained earnings 11,255 13,150 Non-controlling interests 7 7 Total equity 27,740 29,085 Curr
Slide 17: Appendix – Cash Flow Reconciliation
APPENDIX – CASH FLOW RECONCILIATION 6 months to 6 months to 31.12.21 31.12.20 £’000 £’000 Revenue 15,125 16,751 Less expenses (11,635) (11,842) Changes in working capital (inventory, receivables, 349 288 payables) Purchase of tangible fixed assets (164) (730) Purchase of investments, goodwill & inta
Slide 18: Thank You
THANK YOU Tristel 18