Bonesupport Holding Ab · OMXSTO:BONEX
Bonesupport Holding Ab — Q4 2018 Earnings Presentation
18 slides from Bonesupport Holding Ab's earnings presentation, February 2019
Slide 1: BONESUPPORT Q4(18)
BONESUPPORT™ Q4(18) February 2019 Emil Billbäck, CEO Håkan Johansson CFO
Slide 2: Disclaimer
DISCLAIMER This presentation, which includes all information and data on the following slides, any oral statements made when presenting these slides, and any other material distributed or statements made at, or in connection with, such presentation (the “Presentation”), relates to BONESUPPORT HOLDIN
Slide 3: Transformational changes in 2018
Transformational changes in 2018 • Developed a clear strategy • Took the decision to build an independent distributor network in the US • Expansion of European sales force • Signed strategic sourcing agreements with MTF and Collagen Matrix, and firmed up internal development through establishing a P
Slide 4: Q4 2018 highlights
Q4 2018 highlights • Positive top-line data from CERTiFy study comparing CERAMENT® BVF with autograft • Starts selling CERAMENT® BVF directly in the US via own distributor network Financial highlights • Q4(18) net sales SEK 23 m, -15% YoY 2018 net sales SEK 97 m, -25% YoY • Q4 sales growth of 31% in
Slide 5: CERAMENT – strong sales development in EUROW
CERAMENT® – strong sales development in EUROW New US distribution now adding sales -25% SEKm Quarterly sales per segment LTM 140,0 132 129 128 126 119 120,0 114 105 101 CAGR 2014Q1-2018Q4 98 100,0 97 82 80,0 71 TOTAL 27% 62 60,0 52 51 48 47 42 41 EUROW 56% 40,0 36 NA 6% 20,0 0,0 EUROW NA New US sale
Slide 6: EU + ROW – Strong sales growth with antibiotic eluting products
EU + ROW – Strong sales growth with antibiotic eluting products Q4 2018 Sales segment Europe and ROW • Total sales of SEK 18.9 m, growth of 31% • Antibiotic eluting products growth of 45% • Increasing in trauma – continuing to build share in chronic osteomyelitis European Sales Force Expansion • 11
Slide 7: North America – new distribution network live in US
North America – new distribution network “live” in US Q4 2018 Sales North America • Sales under new distribution model started October 23rd • Total sales of SEK 4.2 m New distribution network • 38 independent distributors contracted, totalling over 500 sales reps • Physical and on-line training with
Slide 8: A ground-breaking clinical study
– A ground-breaking clinical study Trial Design Benefits Commercial opportunity • CERAMENT®|BVF compared • The only synthetic bio- EU5 31% to Autograft in treatment of composite with level 1 randomized clinical data 30% tibia plateau fracture- associated bone defects • Access to 160 000 Autograft 34
Slide 9: Financial Review
Financial Review
Slide 10: 2018 Net sales SEK 97 m – Turning point Q3 2018
2018 Net sales SEK 97 m – Turning point Q3 2018 -15% Net Sales Q4 -25% Net Sales Full year 10
Slide 11: North America – first sales under new structure recorded
North America – first sales under new structure recorded Oct-Dec Jan - Dec (SEKm) 2018 2017 2018 2017 Net Sales 4.2 12.6 34.1 78.1 Gross profit 3.7 10.7 29.6 69.9 Contribution -16.8 -3.5 -45.0 18.8 Sale start Oct 23 11
Slide 12: Europe and rest of world – strong Y/Y growth
Europe and rest of world – strong Y/Y growth Oct-Dec Jan - Dec (SEKm) 2018 2017 2018 2017 31% Net Sales Net Sales 18.9 14.5 62.5 51.2 Q4 Gross profit 15.9 11.8 51.8 42.5 Europe increased by 27% Contribution -3.9 0.8 -9.7 -7.6 22% Net Sales Full year Europe increased by 27% 12
Slide 13: Well funded to profitability
Well funded to profitability Key Figures 2018 2017 SEK m Q4 Q3 (i) Q2 Q1 Q4 Q3 Q2 Q1 Net Sales 23.1 14.3 28.2 31.1 27.0 32.7 37.1 32.5 Gross Margin (%) 85.0 81.8 87.4 82.1 83.3 87.8 87.2 88.8 Operating Loss -45.0 -58.4 -37.8 -33.1 -33.4 -20.1 -18.4 -27.4 Cash at period end 261.5 313.2 368.4 397.2 53
Slide 14: Focused investments in commercial acceleration
Focused investments in commercial acceleration Key Figures 2018 2017 SEK m Q4 Q3 Q2 Q1 Q4 Q3 Q2 Q1 Selling expenses 38.8 35.1 31.8 27.6 21.5 24.4 22.2 24.8 Research and 17.6 16.4 17.2 14.8 19.7 12.8 18.7 9.4 Development expenses Administrative expenses 9.3 17.5 14.9 16.5 15.7 11.1 9.2 21.7 Total exp
Slide 15: Clear Corporate Objectives to Drive Value
Clear Corporate Objectives to Drive Value
Slide 16: Exciting journey ahead
Exciting journey ahead • 2018 was a transition year implementing important strategic initiatives • Expect a significant uplift in sales in 2019 ‒ Deliver on updated strategy ‒ Offensive move to new distribution network in US ‒ Bigger, more focused European sales team ‒ New product launches • Potenti
Slide 17: Value generating milestones for CERAMENT
Value generating milestones for CERAMENT® H1 2019 MTF Biologics Launch H2 2018 H1 2019 H1 2019 2020 2021 New US Collagen CERAMENT®|G CERAMENT®|G CERAMENT®|G Commercial Matrix Canada Launch – PMA Filing US Launch Platform Live Launches 2018 2019 2020 2021 H2 2018 H2 2019 H2 2018 H1 2019 2020: Enlarge
Slide 18: Q&A
Q&A