Navamedic Asa · OSL:NAVA
Navamedic Asa — Q2 2019 Earnings Presentation
24 slides from Navamedic Asa's earnings presentation, 2019
Slide 1: Second quarter and half year results 2019
Q2 2019 Second quarter and half year results 2019 Navamedic ASA Kathrine Gamborg Andreassen, CEO Toril Marie Ås, CFO
Slide 2: Navamedic – Q2 highlights
Navamedic – Q2 highlights Continued topline growth Continued growth in Medical nutrition and Obesity categories Demerger and separate listing of the REVENUE GROSS MARGIN EBITDA Medtech division planned for Q4 47.2 MNOK 34.4% 0.9 MNOK Launching Alflorex® for IBS in Norway in Up 4.4% 34.9% Q218 5.6 MN
Slide 3: Navamedic at a glance
Navamedic at a glance Nordic pharma and Medtech company with high growth ambitions Navamedic ASA provides a state-of-the-art market access platform for delivering healthcare products to patients, hospitals and pharmacies in the Nordics Navamedic is also commercializing Sippi®, our proprietary digita
Slide 4: Our strategy: Building a leading Nordic pharma company
Our strategy Building a leading Nordic pharma company Strengthen the core Untapped potential within existing products, categories and territories Ongoing negotiations for attractive new distribution agreements Launch of Navamedic proprietary products, with RX to OTC switch potentials Secure and incr
Slide 5: Operational update
Highlights Navamedic at a glance Operational update Separate listing of the Medtech division Financials Summary and outlook 6
Slide 6: The preferred partner
The preferred partner Highly scalable pharma marketing and distribution platform and competence-driven value creation across categories State-of-the-art market access platform Maximising product potential throughout the value chain, based on economies of scale, sales excellence and regulatory expert
Slide 7: Products: Growth in all key categories
Products Growth in all key categories YoY 1H 2019 Operational highlights per category rev. growth • Lower sales of Nitrolingual CARDIOLOGY -7% • Successful launch of Imdur in Greece MEDICAL • Strong performance of newly NUTRITION 10% launched products and continued growth of main products • Strong u
Slide 8: Sippi: Simplifies Patient care – Prevents Infections
SIPPI Simplifies Patient care – Prevents Infections ® Global potential for Innovative, patented Ongoing next generation technology commercialisation digital, wireless, urine addressing with long-term measurement and a global market need revenue potential infection prevention system 9 Q2 2019
Slide 9: Sippi: Addressing two major problems
Sippi® Addressing two major problems Hospital acquired infections Last manual mile at ICUs • 2.5 million Europeans die every • Urine monitoring is the last year from hospital acquired entrenchment of manual infections measurement at the ICUs • Treatment of infections is a • Today, urine measurement
Slide 10: Sippi Technology
Sippi® Technology Base unit SippLink Wireless data transfer PDMS Alert for biofilm = replace bag Disposable unit Biofilm prevention Q2 2019 11
Slide 11: Multiple market opportunities, addressing a global market
Sippi® Multiple market opportunities, addressing a global market representing 250 MNOK in annual revenue potential Sippi® Sippbag® • Automated urine meter for • Urine bags in hospitals, ICUs, OR*s and wards care centres and for home • Launched at use selected hospitals • Launch or license ready in 2
Slide 12: Separate listing of the Medtech division
Highlights Navamedic at a glance Operational update Separate listing of the Medtech division Financials Summary and outlook 13
Slide 13: Demerger and separate listing: Rationale and future opportunities
Demerger and separate listing Rationale and future opportunities Different businesses – limited synergies Accelerating growth from separate platforms • Medtech/Sippi® has global market potential while • In Pharma (Navamedic ASA), value-creating re- Pharma is focused on the Northern European investme
Slide 14: Preliminary timeline
Demerger and separate listing Preliminary timeline Milestone reached Milestone ahead November 2019 19 June 2019 5 August 2019 EGM Approval of Demerger Introductory approved prospectus First day of plan meeting with demerger for Observe listing approved the OSE plan Medical ASA Q2 2019 15
Slide 15: Financials
Highlights Navamedic at a glance Operational update Separate listing of the Medtech division Financials Summary and outlook 16
Slide 16: Segments
Financials Segments P&H incl. Nava. ASA Medtech • Pharma segment on track focusing on (in NOK million) Q2 2019 Q2 2018 Q2 2019 Q2 2018 profitable products and leveraging on the Operating revenues 47,2 45,2 0,0 0,0 growth platform • EBITDA development affected by increased Gross profit 16,2 15,8 0,0
Slide 17: Key consolidated profit and loss figures
Financials Key consolidated profit and loss figures 1) (in NOK million) Q2 2019 Q2 2018 YTD 2019 YTD 2018 Year 2018 • P&L figures re-presented for Operating revenues 47,2 45,2 92,7 87,8 183,9 discontinued operations Gross profit 16,2 15,8 28,6 28,7 60,8 • Positive Q2 revenue Gross profit % 34,4 % 34
Slide 18: Financial position data: Assets
Financial position data Assets (in NOK million) 30.06.2019 31.12.2018 • Main changes in intangible assets, Intangible assets 5,6 30,1 goodwill and total current assets due to reclassification to assets held for Goodwill 58,8 79,6 distribution Deferred tax assets 9,2 9,9 Tangible assets 1,8 0,1 • Acq
Slide 19: Financial position data: Equity and liabilities
Financial position data Equity and liabilities (in NOK million) 30.06.2019 31.12.2018 Equity 95,4 99,3 • Equity of 45.2% Contingent consideration 0,0 12,2 • Decrease in non-current liabilities due Long term part of license liabilities 10,2 10,2 to reclassification to current liabilities Loans and bo
Slide 20: Cash flow Group – total operations
Financials Cash flow Group – total operations* (in NOK million) Q2 2019 Q2 2018 YTD 2019 YTD 2018 Year 2018 • Negative cash from from operating activities in Q2, mainly due to reduced Net cash flow from operating activities -2,8 -9,4 6,3 -37,0 -36,0 accounts payable offset by reduced inventory and o
Slide 21: Summary and outlook
Highlights Navamedic at a glance Operational update Separate listing of the Medtech division Financials Summary and outlook 22
Slide 22: Summary and outlook
Navamedic Q2 2019 Summary and outlook Pharma platform Medtech - Sippi® • Navamedic will exploit the existing platform to • Based on a high-retention business strengthen the core. Rising demand for model, Navamedic is approaching main products, combined with a unique and attractive markets with a uni
Slide 23: Definitions of Alternative Performance Measures (APM)
Appendix Definitions of Alternative Performance Measures (APM) Navamedic’s financial information is prepared in accordance with international financial reporting standards as adopted by the EU (IFRS). In addition, the company presents alternative performance measures (APMs). The APMs are regularly r
Slide 24: Copyright and disclaimer
Appendix Copyright and disclaimer Copyright Copyright of all published material including photographs, drawings and images in this document remains vested in Navamedic and third party contributors as appropriate. Accordingly, neither the whole nor any part of this document shall be reproduced in any