Slide 1: Q3’15 and 9M’15 Results
Q3’15 and 9M’15 Results
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: Overview
Overview Highlights Q3’15 and 9M’15 Main Topics Revenues Revenues: breakdown by technology Revenues: breakdown by geography Installed base expansion Profitability profile Business and Products Development Q3’15 and 9M’15 Financials FY 2015 Company Guidance 3
Slide 4: Q3’15 and 9M’15 highlights
Q3’15 and 9M’15 highlights Revenues: Q3’15 9M’15 Liaison & Liaison XL placements Ongoing worldwide success of Liaison XL @ CUR +13.0% +13.1% @ CER +7.0% +5.7% Placements Q3’15 9M’15 @ Sept 30th,2015 Acceleration of: ● Liaison XL +125 +479 2,144 CLIA ex Vit D @ CUR +27.3% + 24.1% @ CER +22.5% +18.5%
Slide 5: Revenues
Revenues Q3’15 9M’15 vs. vs. Q3’14 9M’14 • Growth driven by clia ex vitamin d products in particular Torch, Tumor Markers, Stool testing and Vit D 1,25 @ current +13.0% +13.1% • Positive impact of Quest agreement on Vitamin d sales SALES @ cer +7.0% +5.7% • Positive impact of forex on total sales 5
Slide 6: Revenues: Breakdown by Technology
Revenues: Breakdown by Technology Q3’15 9M’15 vs. vs. Q3’14 9M’14 @ current +27.3% +24.1% • Growth of infectious Diseases, Torch panel, Hepatitis, CLIA ex Vit D Stool testing and Vitamin D 1,25 @ CER +22.5% +18.5% @ current +14.2% +10.6% • Positive impact of sales coming from Quest in the us • Growt
Slide 7: Revenues by Geography
Revenues by Geography Europe North America Vit D +6.5% +5.0% +4.8% +4.1% +6.1% +0.7% Q3’15 9M’15 Q3’15 9M’15 Q3’15 9M’15 France Germany +0.0% -3.9% +10.5% +8.8% CLIA ex Vit D Q3’15 9M’15 Q3’15 9M’15 +39.4% +43.0% Italy -2.0% +1.8% Q3’15 9M’15 Q3’15 9M’15 Apac +15.7% +16.9% Q3’15 9M’15 Mexico China +
Slide 8: Revenues: Breakdown by Geography (1 of 2)
Revenues: Breakdown by Geography (1 of 2) Q3’15 vs. 9M’15 vs. Q3’15 vs. 9M’15 vs. Q3’14 9M’14 Q3’14 9M’14 • Increase in Vitamin d sales Europe +6.5% +5.0% Italy -2.0% +1.8% • Delay of a few important tenders in q3’15 • Increase of Vitamin D sales Germany +10.5% +8.8% • Growth of clia ex Vitamin D pr
Slide 9: Revenues: Breakdown by Geography (2 of 2)
Revenues: Breakdown by Geography (2 of 2) Q3’15 vs. 9M’15 vs. Q3’15 vs. 9M’15 vs. Q3’14 9M’14 Q3’14 9M’14 • Increase in sales driven by CLIA Apac +15.7% +16.9% China +43.2% +32.2% • Slowdown of ELISA products • CLIA ex Vitamin D sales increase compensating Vitamin D negative trend Australia +1.5% -3
Slide 10: Installed Base Expansion
Installed Base Expansion Total units Net placements in Net placements in Total units at December 31st, Q3’15 9M’15 at September 30th, 2014 2015 4,207 -37 -119 4,088 1,665 +125 +479 2,144 TOTAL 5,872 +88 +360 6,232 10
Slide 11: Profitability profile
Profitability profile Q3’14 Q3’15 9M’14 9M’15 EBITDA 40.0 mln 45.0 mln 118.1 mln 136.4 mln @ cur +12.5% +15.5% growth @ CER +9.3% +6.7% @ cur 36.7% 36.5% 36.2% 37.0% EBITDA Margin @ CER 37.5% 36.6% EBITDA trend in Q3’15 and 9M’15 driven by: Higher gross margin Lower incidence of operating costs on t
Slide 12: Overview
Overview Highlights Q3’15 and 9M’15 main topics Revenues Revenues: breakdown by technology Revenues: breakdown by geography Installed base expansion Profitability profile Business and Products Development Q3’15 and 9M’15 Financials FY 2015 Company Guidance 12
Slide 13: 9M’15 Business and Products Development
9M’15 Business and Products Development Business Development Future growth: ca. +8% Revenues, ca. +9.5% Ebitda and ca. +10% Net results Industrial Plan 2015-2017 cagr over the plan period Agreement with 5 years agreement for the commercialization of Vitamin D, stabilizing DiaSorin Quest Diagnostics
Slide 14: Overview
Overview Highlights Q3’15 and 9M’15 Main Topics Revenues Revenues: breakdown by technology Revenues: breakdown by geography Installed base expansion Profitability profile Business and Products Development Q3’15 and 9M’15 Financials FY 2015 Company Guidance 14
Slide 15: Q3’15 Results: Income Statement
Q3’15 Results: Income Statement €/mln Q3 Change 2015 2014 amount % Net revenues 123.2 109.0 +14.2 +13.0% Gross profit 85.0 72.4 +12.6 +17.4% Gross margin 69.0% 66.4% +2.6% S&M (23.5) (21.6) -1.9 +8.8% R&D (6.3) (6.2) -0.1 +1.2% G&A (13.7) (12.4) -1.4 +10.9% Total operating expenses (43.5) (40.1) -3.
Slide 16: 9M’15 Results: Income Statement
9M’15 Results: Income Statement €/mln 9M Change 2015 2014 amount % Net revenues 368.4 325.8 +42.6 +13.1% Gross profit 251.4 218.3 +33.0 +15.1% Gross margin 68.2% 67.0% +1.2% S&M (72.2) (65.6) -6.6 +10.0% R&D (18.9) (18.6) -0.4 +2.0% G&A (40.7) (36.7) -4.1 +11.0% Total operating expenses (131.9) (120
Slide 17: 9M’15 Results: Balance Sheet
9M’15 Results: Balance Sheet €/mln 9/30/2015 12/31/2014 Change Total intangible assets 116.5 117.0 -0.4 Total tangible assets 73.8 72.2 +1.5 Other non-current assets 22.4 25.6 -3.2 Net Working Capital 145.9 142.3 +3.6 Other non-current liabilities (38.2) (39.8) +1.6 Net Capital Employed 320.3 317.2
Slide 18: Q3’15 Results: Cash Flow Statement
Q3’15 Results: Cash Flow Statement €/mln Q3 Change 2015 2014 Cash and cash equivalents at beginning of period 141.6 88.7 +52.9 Operating activities 40.6 39.0 +1.6 Investing activities (5.4) (6.8) +1.4 Financing activities 0.7 3.1 -2.4 Acquisitions of companies and business operations (1.0) - -1.0 Ch
Slide 19: 9M’15 Results: Cash Flow Statement
9M’15 Results: Cash Flow Statement €/mln 9M Change in value 2015 2014 Cash and cash equivalents at beginning of period 144.9 105.1 +39.7 Operating activities 96.4 91.9 +4.5 Investing activities (21.6) (21.0) -0.6 Financing activities (12.1) (30.2) +18.1 Acquisitions of companies and business operati
Slide 20: Overview
Overview Highlights Q3’15 and 9M’15 Main Topics Revenues Revenues: breakdown by technology Revenues: breakdown by geography Installed base expansion Profitability profile Business and Products Development Q3’15 and 9M’15 Financials FY 2015 Company Guidance 20
Slide 21: FY 2015 Company Guidance
FY 2015 Company Guidance Consistent with the positive sales trend, the improvement in Gross Profit and the lower incidence of operating expenses on revenues, management believes that it should revise upward its earlier expectations for the current year and project: Revenues: growth above 5% at CER c
Slide 22: DiaSorin
DiaSorin ‘The Diagnostic Specialist