Slide 1: Bactiguard Q1 presentation
1 Bactiguard Q1 presentation May 4, 2017
Slide 2: Bactiguard sponsors the Global Sepsis Alliance
2 Bactiguard sponsors the Global Sepsis Alliance The Global Sepsis Alliance a non-profit charity with the aim to raise awareness of sepsis worldwide and reduce sepsis related deaths by 20 % by 2020. World Sepsis Day Every year on September 13, countless events raising awareness of sepsis all over th
Slide 3: Sepsis: a global burden
3 Sepsis: a global burden The main cause of death from infection • 27 million people affected every year, of whom 8 million die • In Sweden, almost 40,000 people suffer from sepsis per year1 • 50% of all-cause sepsis may be due to hospital-acquired infections2 • 1/3 of patients with sepsis in ICUs d
Slide 4: Tackling antimicrobial resistance key in fighting sepsis
4 Tackling antimicrobial resistance key in fighting sepsis • Fighting antimicrobial resistance also helps fight sepsis • More than 200,000 neonatal deaths attributable to resistant sepsis infections globally in 2013. • More than half of these occurred in five countries: India, Pakistan, Nigeria, Dem
Slide 5: Infection prevention a key driver in BD acquisition
5 Infection prevention a key driver in BD acquisition BD’s acquisition of BARD • Infection prevention a major healthcare need and one of four strategic pillars for BD • US cost of healthcare-associated infections ~10bn USD - 1 in 15 patients infected during care • Acquisition of BARD accelerates BD’
Slide 6: Key Priorities 2017
6 Key Priorities 2017 Double sales of our own product portfolio Develop new license businesses Cost control Long-term financing solution Close in on our long-term financial targets of 20% growth and 30% EBITDA margin
Slide 7: Highlights in Q1 2017
7 Highlights in Q1 2017 Revenue growth of 58%. Excluding new license deal 24% EBITDA margin of 33% New license deal, generating 1 MUSD revenue in Q1 (2.5 MUSD in 2017) Stable revenues from C.R. Bard New license application Increased value per product sold, through improved product mix Re
Slide 8: Supplied products
Delivered products Financial overview8 Supplied products • Focus on value rather than volume going forward due to product mix. • Revenue from BIP products in Q1 of MSEK 2.8 (2.9) corresponding to 48 000 (88 000) products. • For the full year 2016, 418 000 BIP products were delivered generating reven
Slide 9: Supplied products
Financial Development value delivered BIP products overview 9 Supplied products • Development value per quarter delivered BIP products, rolling 12 mths. • CAGR in this timeperiod of 17%.
Slide 10: Market update Q1 2017
Market update Q1 2017 Focus on doubling sales value Europe • Strong foothold in DACH region • Focus on adding new sizeable markets • New IC tender won in Sweden CHINA • Training, sales activities and MEA evaluations ongoing at high intensity • Expanding presence to Egypt • Q2 launch preparations ong
Slide 11: Licensing business
11 Licensing business C.R. Bard • Successful partnership since 1995 • Bactiguard coated Foley catheters for the US, Japan and UK/Ireland • Generating stable annual revenues • Acquisition by BD announced in April 2017 Vigilenz Medical Devices • Bactiguard coated orthopaedic implants for the Asean mar
Slide 12: Smartwise license agreement
12 Smartwise license agreement New therapeutic application Advanced Bactiguard-coated vascular injection catheters aimed at delivering high dose, locally targeted therapies to damaged tissue, in remote and critical areas of the body Coating reduces risk of infections, thrombosis and allergic rea
Slide 13: Launch of BIP CIP
Launch of BIP CIP Bactiguard Infection Protection Clinical Implementation Programme • Developed in collaboration with specialists at Karolinska University Hospital • Professional education for proper treatment • Value added service to hospitals and healthcare professionals Reduced infection rates
Slide 14: Financial highlights
14 Financial highlights Highlights First quarter (Oct-Dec 2016) • Revenues of MSEK 41.0 (26.0), plus 58%. Excluding new license agreement, increase is 24 %. • EBITDA of MSEK 13.4 (-1.6), 33% margin
Slide 15: Revenue streams
15 Revenue streams Two revenue streams in the income statement License BIP portfolio C.R. Bard (sales since 1995), BIP Foley BIP ETT BIP CVC Vigilenz and Smartwise 1 2 License BIP revenue From a product perspective Bactiguard has two lines of business; Licenses and the BIP portfolio, acknowledged in
Slide 16: Income distribution
Revenue distribution Financial overview 16 Income distribution Jan-Mar Jan-Mar Full year MSEK 2017 2016 2016 License revenues 27,4 22,8 102,5 New license revenues 8,8 0,0 0,5 Sales of BIP products 2,8 2,9 15,8 Other revenue 2,0 0,4 9,6 Total Revenues 41,0 26,0 128,3
Slide 17: License revenues from C.R. Bard
License revenues from C.R. Bard Financial overview 17 License revenues C.R. Bard (SEKm) Q1 Q2 H1 Q3 Q4 Full year 2013 21,6 19,3 40,9 21,3 20,5 82,7 2014 22,5 22,8 45,3 24,3 20,2 89,7 2015 26,8 25,8 52,6 56,8 15,9 125,3 2016 22,8 27,2 50,0 27,1 25,9 103,0 2017 27,4 Of which currency effect, MSEK +2.5
Slide 18: Key figures
Key figures Financial overview 18 Key figures Jan-Mar Jan-Mar Full year • EBITDA MSEK 13,4 (-1.6), Key figures 2017 2016 2016 33% margin Revenues, SEKm 41,0 26,0 128,3 • Net profit, MSEK 4.1 (-11.2), EBITDA, SEKm 13,4 -1,6 15,1 positively affected by Bard EBITDA margin, % 33% -6% 12% revenues and ne
Slide 19: Financial flexibility and strength
Financial flexibility and strength Financial overview 19 Financial position • Equity ratio of 61 % • Net debt of MSEK 151.3 • Cash position of MSEK 13.7. Overdraft facility of MSEK 30, not utilized at 31 March. Loans • Bank loan: MSEK 100, maturing 31 Dec, 2017 • Loan major shareholders: MSEK 50, ma
Slide 20: Financial targets
20 Financial targets • Average sales growth of 20% per annum for a 5-year period, with 2015 (adjusted for the additional order from C.R. Bard) as the base year – starting point MSEK 118.5 • EBITDA margin of at least 30% at the end of the 5-year period • Equity ratio of at least 30% • Over time uphol
Slide 21: Concluding remarks
21 Concluding remarks Strong financial start in 2017. Good revenue growth and margins in line with long term financial target New license deal with Smartwise Several onging discussions at various stages Stable license revenues from C.R. Bard Expanding in Europe and the Middle east Well
Slide 22: More information is available at www.bactiguard.se
22 More information is available at www.bactiguard.se For questions and additional information, please contact: Christian Kinch, CEO: +46 8 440 58 80 christian.kinch@bactiguard.se Fredrik Järrsten, CFO: +46 725 500 089 fredrik.jarrsten@bactiguard.se Cecilia Edström, SVP Sales & New Business: +46 725
Slide 23: Questions
23 Bactiguard At war against hospital acquired infection Questions