Diasorin S.p.a. · MIL:DIA
Diasorin — H1 2019 Earnings Presentation
12 slides from Diasorin's earnings presentation, Jul 31, 2019
Slide 1: Q2 and H1 2019 Results
Q2 and H1 2019 Results DIASORIN SPA July 31, 2019
Slide 2: Disclaimer
Disclaimer These statements are related, among others, to the intent, belief or current expectations of the customer base, estimates regarding future growth in the different business lines and the global business, market share, financial results and other aspects of the activities and situation rela
Slide 3: Highlights
Highlights COMPANY GUIDANCE CONFIRMED Q2’19 H1’19 @ curr @ CER @ curr @ CER FY 2019 at CER(*) compared to 2018 REVENUES €/mln 179.5 +7.7% +6.0% €/mln 350.3 +5.8% +3.7% REVENUES Growth between +5.0% and + 8.0% CLIA EX VIT D +14.2% +13.2% +11.7% +10.5% VIT D +0.0% -3.1% +1.0% -2.6% EBITDA Comparable t
Slide 4: Q2 and H1 2019 revenues growth
Q2 and H1 2019 revenues growth Q2’19 vs. Q2’18 H1’19 vs. H1’18 Q2’19 vs. Q2’18 H1’19 vs. H1’18 @ curr EUROPE & AFRICA +4.1% +5.1% Total Group revenues +7.7% +5.8% Growth boosted by CLIA tests (Latent Tuberculosis, PCT and @ CER +6.0% +3.7% Italy +20.4% +21.6% GI stool panel) Growth in CLIA sales (In
Slide 5: H1 2019 revenues breakdown
H1 2019 revenues breakdown by geography by technology Instruments & other revenues H1’18 H1’18 USA & Canada 11.6% 28.1% Molecular diagnostic tests Europe & Africa 8.9% 47.2% CLIA tests 65.6% ELISA tests 13.9% Asia Pacific 18.3% Latin America 6.4% H1’19 H1’19 Instruments & other revenues USA & Canada
Slide 6: Installed base expansion
Installed base expansion 7,849 7,952 8,061 +250 4,001 +124 4,125 +126 4,251 LAS 3,848 -21 3,827 -17 3,810 -38 @ Dec 31, 2018 @ March 31, 2019 @ June 30, 2019 Q2 and H1 2019 Results 6
Slide 7: Q2 and H1 2019 profitability profile
Q2 and H1 2019 profitability profile Q2’18 Q2’19 Change % H1’18 H1’19 Change % EBITDA (€/MLN) 64.9 71.7 +10.6% 128.2 139.3 +8.6% @ CER +8.6% +6.0% EBITDA MARGIN 38.9% 40.0% +105 bps 38.7% 39.8% +105 bps @ CER 39.9% +100 bps 39.6% +89 bps H1’19 EBITDA upward as a result of: • Increase in Gross Profit
Slide 8: Financial schemes
Financial schemes 8
Slide 9: Income Statement
Income Statement Q2 Change H1 Change Data in € million 2018 2019 amount % 2018 2019 amount % Net revenues 166.7 179.5 +12.8 +7.7% 331.2 350.3 +19.1 +5.8% Gross profit 115.6 124.7 +9.0 +7.8% 226.8 243.3 +16.4 +7.2% Gross Margin 69.4% 69.4% +8 bps 68.5% 69.5% +96 bps S&M (33.3) (35.9) -2.6 +7.7% (65.0
Slide 10: Balance Sheet
Balance Sheet Data in € million 12/31/18 06/30/19 Change Goodwill and intangibles assets 373.1 372.0 -1.1 Property, plant and equipment 95.0 125.3 +30.3 Other non-current assets 23.0 29.0 +6.0 Net working capital 201.0 219.6 +18.6 Other non-current liabilities (62.7) (60.7) +2.0 Net Invested Capital
Slide 11: Cash Flow Statement
Cash Flow Statement Q2 H1 Data in € million Change Change 2018 2019 2018 2019 Cash and cash equivalents at the beginning of the period 172,3 70,1 -102,2 159,3 73,1 -86,2 Operating activities 50,8 44,7 -6,1 88,4 92,7 +4,3 Investing activities (10,9) (11,5) -0,5 (21,0) (24,3) -3,4 Financing activities
Slide 12: Slide 12