Bonesupport Holding Ab · OMXSTO:BONEX
Bonesupport Holding Ab — Q2 2021 Earnings Presentation
16 slides from Bonesupport Holding Ab's earnings presentation, Jul 15, 2021
Slide 1: BONESUPPORT Q2 2021
BONESUPPORT Q2(2021) July 15th 2021 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: BONESUPPORT – Second quarter report 2021
BONESUPPORT – Second quarter report 2021 • Net sales SEK 51.8 m, growth: 43% versus Q2 2020, +58% in constant exchange rates • EBIT: SEK -25,9 m (SEK -23,5 m) • Gradual return of orthopedic surgeries as consequence of general lower infection incidence rates and reduced restrictions • Fortify: Last p
Slide 4: COVID-19 impact on market dynamics
COVID-19 impact on market dynamics • Steady reduction in COVID-19 infection incidence, with exception of UK, where the Delta (B.1.617.2) variant has brought infection incidence in June to the same levels as in February 2021 • CERAMENT sales tightly correlated to number of surgeries, in turn determin
Slide 5: Early signs of recovery
Early signs of recovery LTM Quarterly Sales per Segment US distribution with 40 independent 225.0 225.0 distributors (dark blue bar) 197 200.0 200.0 180 181 • New US distribution model 173 175.0 166 165 175.0 continuing to develop US distribution with Zimmer Biomet (light blue bar) 155 150.0 150.0 1
Slide 6: North America – Strong sales growth from gradual increase in surgeries
North America – Strong sales growth from gradual increase in surgeries Q2 2021 • Sales of SEK 29.1 m, reported growth of 35% over Q2 2020, +56% in constant exchange rates • Sales in Q2 2021 grew with 16% over Q1 2021 • Gradual return of surgeries as 46% of population in the US (end of June) is fully
Slide 7: CERAMENT G pathway to US market
CERAMENT G pathway to US market DeNovo Q2-Q3 2021: Data collection on additional comparable clinical controls (Bone infection) of historical bone infection FDA: Max 90 days cases April 2020 CERAMENT G BONESUPPORT: Max 180 days FDA: Max 90 days DeNovo application filed Feb 26th 2021: Oct 2021: Q1 202
Slide 8: EUROW – Strong sales growth from gradual increase in surgeries
EUROW – Strong sales growth from gradual increase in surgeries Q2 2021 • Sales of SEK 22.7 m, a development of 55% vs Q2 2020, 61% in constant exchange rates • Capacity utilization of orthopedic surgery department increasing but with backlog yet increasing • Bringing surgical capacity utilization ba
Slide 9: Financial Review
Financial Review
Slide 10: Q2 2021 net sales SEK 51.8 m
Q2 2021 net sales SEK 51.8 m • A 56 percent growth CER in NA despite influence from the pandemic. 35% reported growth • A 61 percent growth CER in EUROW despite influence from the pandemic. 55 % reported growth 10
Slide 11: Gross Margin – North America and EUROW
North America EUROW +35% 55% Net Sales Net Sales Q2-21 Q2-21 NA 2021 2020 EUROW 2021 2020 SEK m Q2-21 Q1-21 Q4-20 Q3-20 Q2-20 SEK m Q2-21 Q1-21 Q4-20 Q3-20 Q2-20 Net Sales 29.1 25.1 28.6 28.3 21.6 Net Sales 22.7 19.7 24.5 19.8 14.6 Gross profit 27.1 23.3 27.2 27.2 19.6 Gross profit 19.2 16.4 20.6 16
Slide 12: Gradual recovery in sales and gross margin despite the pandemic
Gradual recovery in sales and gross margin despite the pandemic Key Figures 2021 2020 2019 SEK m Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Net Sales 51.8 44.8 53.2 48.1 36.2 43.4 46.2 39.1 Gross Margin (%) 89.5 88.6 89.8 91.4 86.7 88.7 88.9 87.7 Operating Loss -25.9 -19.7 -26.7 -19.2 -23.5 -29.2 -38.6 -32.7 Cash at p
Slide 13: Expenses reversing from substantial cost reductions previous year
Expenses reversing from substantial cost reductions previous year Key Figures 2021 2020 2019 SEK m Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Selling expenses (less 34.1 31.2 33.9 32.0 23.0 35.0 41.3 33.5 commissions) Sales Commissions 9.3 7.9 8.4 9.2 6.9 7.1 8.0 6.0 Research and 15.0 12.3 16.5 11.7 14.0 15.8 18.5 17.
Slide 14: Clear Corporate Strategy Driving Value Creation
Clear Corporate Strategy Driving Value Creation
Slide 15: Strategic execution and situational adoption
Strategic execution and situational adoption • Agile commercial adaptation to local conditions • Entering a phase with gradual return to more normal level of surgical procedures, with: − Strengthened distribution and customer base in the US (incl Premier and Veterans Affairs contracts) − Dutch sales
Slide 16: Q&A
Q&A