Diasorin S.p.a. · MIL:DIA
Diasorin — Q1 2008 Earnings Presentation
11 slides from Diasorin's earnings presentation, May 15, 2008
Slide 1: 1st quarter 2008 Conference Call
1st quarter 2008 Conference Call May, 15
Slide 2: Disclaimer
Disclaimer Save where otherwise indicated, the Company is the source of the content of this Presentation. Care has been taken to ensure that the facts stated in this Presentation are accurate, and that the opinions expressed are fair and reasonable. However, no representation or warranty, express or
Slide 3: Q1 Results: income statement
Q1 Results: income statement millions € Q1 2008 Q1 2007 Δ as reported Net Revenues 56.6 49.9 +13.5% Gross profit 36.6 32.0 +14.4% Margin 64.6% 64.1% G&A (6.4) (5.4) R&D (3.1) (2.6) S&M (11.3) (10.4) Other operating Income/(Expenses) (0.2) (1.7) Ebit 15.7 11.9 +31.5% Margin 27.7% 23.9% Ebit ex except
Slide 4: Solid revenues growth
Solid revenues growth Revenues increase by 13.5% despite of exchange rate effects (+17.8% at comparable fx), improving growth rate from 2007 quarter results, thanks to: ● Steady enlargement of Liaison installed base, grown from around 2070 (31/12/07) to around 2160 (31/03/08) ● Leverage of the Liais
Slide 5: Revenues break down: by technology
Revenues break down: by technology CLIA sales still trigger revenues growth CLIA sales keep growing at higher rate than other technologies +34.2% Q1 08 vs. Q1 07 Revenues mix by technology improved towards CLIA kits, from 47.9% in Q1 07 to 56.6% in Q1 08 of total sales Q1 07 Q1 08 Instruments RIA In
Slide 6: Revenues break down: by geography
Revenues break down: by geography millions € 1st Quarter 2008 2007 Δ% Europe 34.6 30.2 14.3% North America 12.7 10.3 23.2% Rest of the World 9.4 9.3 0.4% Total 56.6 49.9 13.5% ● In Europe, increased market share in consolidated as well as in developing markets: Italy +17.6% Q1 08 vs. Q1 07 Belgium +
Slide 7: Continuous improvement in profitability
Continuous improvement in profitability Profitability continuously improved: Gross Margins +14.4% Q1 08 vs. Q1 07 from 64.1% to 64.6% of tot sales EBITDA +24.6% Q1 08 vs. Q1 07 from 30.9% to 33.9% of tot sales EBIT +31.5% Q1 08 vs. Q1 07 from 23.9% to 27.7% of tot sales EBITDA restated +14.3% Q1 08
Slide 8: 1Q Results: balance sheet & cash flow
1Q Results: balance sheet & cash flow millions € 31/03/08 31/12/07 Total tangible asset 32.3 33.9 Total intangible asset 65.4 65.4 Other non-current asset 9.1 9.2 Net Working Capital 49.2 46.2 Other non-current liabilities (22.3) (22.3) Net Capital Employed 133.7 132.4 Net Debt (6.5) (12.1) Total sh
Slide 9: Healthy financial structure
Healthy financial structure ● Operating cash flow € 8.2 MM in Q1 08 vs. € 7.5 MM in Q1 07 ● Net debt of € 6.5 MM in Q1 08 vs. € 12.1 MM at the end of 2007 ● Cash and equivalents at the end of the period amount to € 13.1 MM. 1Q ’08 Conference Call May, 15 2008 8
Slide 10: Forthcoming events
Forthcoming events June 5 – 6 EUROPEAN MID CAP FORUM New York August 8th 2008 Half Year report September 3 – 4 Goldman Sachs 5th Annual European Medtech and Healthcare Services Conference Londra 1Q ’08 Conference Call May, 15 2008 9
Slide 11: DiaSorin
DiaSorin The Diagnostic Specialist