Slide 1: Result presentation 2019
28 February 2020, Seppo Kopsala, CEO / Lars Lindqvist, CFO Result presentation 2019
Slide 2: Optomed offers handheld fundus cameras and AI software for screening
“ Optomed offers our customers leading handheld fundus cameras and software solutions with integrated Artificial Intelligence (AI) for screening of blinding eye diseases
Slide 3: Diabetes is a growing chronic disease
Diabetes is a growing chronic disease Total number of adults with diabetes (20-79 years), millions(1) 629 Western Pacific 41 South East Asia 42 425 82 Europe 16 62 26 North America & Caribbean 39 67 46 Middle East and North Africa 58 151 108 82 South and Central America 159 183 Africa 1980(2) 2017 2
Slide 4: Need for increased screening coverage
Need for increased screening coverage % of diabetic screened systematically1 UK Germany Italy Spain USA France 83% 68% 11% 33-82% <50%2 37-50% 1) Source: Retinal Diseases in Europe: Prevalence, incidence and healthcare needs. University Eye Hospital Bonn (2017); 2) Source: Disparities in Adherence t
Slide 5: Need for portable solutions
Need for portable solutions 156 million diabetics expected to live in rural 156m areas by 20451 425m 1) Source: IDF Diabetes Atlas 8th Edition
Slide 6: Optomed products and solutions
Optomed products and solutions AI Solutions
Slide 7: Optomed's growth strategy
Optomed’s growth strategy 1. 2. 3. Aim to grow in existing markets Target expansion into new Focus on bringing new and enter new markets customer segments products and solutions to the market
Slide 8: Execution of growth strategy
Execution of growth strategy Artificial Intelligence (AI) Market expansion • Eye disease AI • US activities started, progress commercialization ongoing and details will be reported • Integrated AI camera during 2020 development and launch during • Expansion of distribution 2020 channels ongoing, ope
Slide 9: Highlights
Highlights October-December and Full Year 2019
Slide 10: Highlights 2019
Successful IPO concluded in Software segment 1. performance was solid all year 4. December 2019: solid cash position, strengthened balance sheet and equity ratio Strong sales in the Devices Growth actions including Highlights 2019 2. segment OEM and Distributor 5. opening new markets and channels du
Slide 11: Q4 2019 Financial highlights (KEUR)
Q4 2019 Financial highlights (KEUR) Q4/2019 Q4/2018 Change % Revenue 4,329 4,688 -7.7% Gross profit 1) 2,745 3,530 -22.2% Gross margin 2) 63.4% 75.3% Adjusted EBITDA -211 1,102 -119.1% Adjusted EBITDA margin -4.9% 23.5% Net profit/ loss -58 449 -116.6% Earnings per share -0.01 0.06 -111.4% Cash flow
Slide 12: FY 2019 Financial highlights (KEUR)
FY 2019 Financial highlights (KEUR) FY2019 FY2018 Change % Revenue 14,977 14,463 3.6% Gross profit 1) 9,944 10,398 -7.8% Gross margin 2) 66.4% 71.9% Adjusted EBITDA -196 1,661 -111.8% Adjusted EBITDA margin -1.3% 11.5% Net profit/ loss -2,875 -1,327 -116.7% Earnings per share -0.32 -0.17 -90.4% Cash
Slide 13: Devices segment highlights
Devices segment highlights October-December and Full Year 2019
Slide 14: Devices segment highlights
In 2019, OEM business of the Devices segment Q4 2019 Q4 2018 Change,% FY2019 FY2018 1. performed well and during Q4 we executed initial Revenue 2,158 2,857 -24.4% 7,309 7,460 shipments to a new OEM Devices segment highlights customer, Topcon Gross profit 1) 1,114 2,087 -46.6% 4,200 5,053 The key dri
Slide 15: Sales split per sales channel (2019)
Sales split per sales 6% channel (2019) 23 % 25 % OEM 3,373 (2,964) +13.8% KEUR China 1,795 (2,686) -33.2% 7,309 Distributors 1,662 (1,370) +21.3% 46 % Other 479 (440) +8.9%
Slide 16: Software segment highlights
Software segment highlights October-December and Full Year 2019
Slide 17: Software segment highlights
Software segment’s 1. performance was strong Q4 2019 Q4 2018 Change,% FY2019 FY2018 Software segment highlights The revenue increase was Revenue 2,171 1,831 18.6% 7,668 7,001 driven by a successful delivery of new solution projects, 2. maintenance and support Gross profit 1,632 1,442 13.2% 5,744 5,3
Slide 18: COVID-19 Coronavirus
COVID-19 Coronavirus • COVID-19 Coronavirus outbreak is currently on-going especially in China and it may become pandemic • Optomed’s business may be affected in the following way: • Chinese sales are already affected by the virus • Optomed cameras have components manufactured by Chinese suppliers t
Slide 19: Outlook 2020
Outlook 2020 OPT@MED
Slide 20: Outlook 2020
Outlook 2020 We continue to progress our expansion The COVID-19 Coronavirus outbreak may towards the US and grow our international have a negative impact on the company’s distributor network. Additionally, we are growth affecting both the business in currently investing in the development of China a
Slide 21: Financial targets
Financial targets Revenue Growth Adjusted EBITDA Optomed’s medium-term target is to deliver Optomed’s target is to prioritise a double-digit annual organic revenue investments in the organisation to growth. In the long-term Optomed’s target support growth in the medium-term and is to deliver an aver
Slide 22: Balance Sheet
Balance Sheet Balance sheet ASSETS 31.12.2019 31.12.2018 Goodwill 4,256 4,256 • Cash, balance sheet and equity ratio Development costs 5,218 5,172 strengthened by IPO, gross proceeds EUR Other intangible assets 3,188 3,368 20 million and net proceeds of EUR 15.8 Total intangible assets 12,662 12,796
Slide 23: Cash Flow
Cash Flow Q4 2019 Q4 2018 FY2019 FY2018 Loss for the financial year -58 449 -2,875 -1,327 Cash flows before change 752 1,033 207 1,267 • Cash strengthened by the IPO: in net working capital • Gross proceeds EUR 20 million Change in net working capital 1,302 344 268 -1,134 • Net proceeds EUR 15.8 mil
Slide 24: Optomed's mission is to prevent blindness
“ Optomed’s mission Expansion into new geographical markets is to prevent blindness by improving access to eye screening globally Opening new customer segments: primary care Bringing AI-integrated health screening to the market