Ekf Diagnostics Holdings Plc · LSE:EKF
Ekf Diagnostics — H1 2013 Earnings Presentation
30 slides from Ekf Diagnostics's earnings presentation, Sep 16, 2013
Slide 1: Interim Results: Six months ended 30th June 2013
Title subtitle INTERIM RESULTS Six months ended 30th June 2013 Julian Baines, Group Chief Executive Officer Paul Foulger, Interim Finance Director 16th September 2013
Slide 2: EKF Diagnostics Holdings plc
EKF Diagnostics Holdings plc A global point-of-care, central laboratory and molecular diagnostics business 2
Slide 3: Agenda
AGENDA • H1 2013 financial highlights • Strategic and operational overview • Point-of-care • Central laboratory • Molecular diagnostics and kidney biomarkers • H1 2013 financial overview • H2 2013 outlook • Appendix 3
Slide 4: H1 2013 Highlights: Significant financial growth
H1 2013 HIGHLIGHTS Significant financial growth • Group H1 2013 revenues + 17.7% to £14.89m (H1 2012: £12.65m) • Increasing visibility. Average monthly revenues up from £2.1m to £2.5m • Revenues from PoC up 23% 16,000 Thousands • Adj. EBITDA +51.6% to £2.12m (H1 2012: £1.40m) 14,000 • Cash generated
Slide 5: H1 2013 Highlights: Six month comparison 2012-2013
H1 2013 HIGHLIGHTS Six month comparison: 2012 - 2013 H1 2013 H2 2012 H1 2012 16,000 Thousands Revenue £14.89m £13.41m £12.65m 14,000 12,000 +11% +6% 10,000 Adj. EBITDA £2.12m £1.80m £1.40m H1 2012 8,000 H2 2012 +18% +29% 6,000 H1 2013 4,000 2,000 0 Revenue AEBITDA 5
Slide 6: H1 2013 Highlights: A period of achievement
H1 2013 HIGHLIGHTS A period of achievement Strong organic revenue growth in core product lines H1 2013 v H1 2012: • Quo-Lab and Quo-Test +115% • Hemo Control / HemoPoint +15% • Biosen C-Line and S-Line +24% Management restructure: • Richard Evans appointed as Chief Operating Officer • David Corr app
Slide 7: Strategic Focus: Market size and growth
STRATEGIC FOCUS Market size and growth (2012 estimates) Point-of-care Central laboratory Molecular diagnostics • HbA1c: $550m • Clinical chemistry: $6.9bn • MDx: $4bn • CAGR 2007-12: 13% • CAGR 2007-12: 2% • CAGR: 10-20% • Hb: $325m • Companion Dx: $200m • CAGR: 5% • CAGR: 20-30% • Target markets: •
Slide 8: Strategic Execution
STRATEGIC EXECUTION EKF Diagnostics Holdings plc Point-of-care Central laboratory Molecular diagnostics H1 revenues: £9.8m H1 revenues: £5.1m • Revenues +23% v. 2012 • Revenues +9% v. 2012 • Next generation • Rapidly growing market • Mature market healthcare opportunity in with differentiated • High
Slide 9: Point-of-Care: Quo-Lab A1c
POINT-OF-CARE H1 2013 delivery Quo-Lab A1c • Unit sales of analysers: 917 H1 2013 v 254 H2 2012 • 2.9% penetration into NycoCard market (c.42,000*) • OEM deals with Human and IME-DC providing high volume of core business: • Human: 500 analysers and 1.2m tests in year 1. Forecast sales of 1.2k device
Slide 10: Point-of-Care: Quo-Test A1c
POINT-OF-CARE H1 2013 delivery Quo-Test A1c • Multi-distributor approach in China from H2 2013 onwards • Very positive studies from KOLs at Liverpool Royal, Barnet and Chase Farm Hospital Trusts and Swansea University • US FDA CLIA waiver clinical trial scheduled to commence September 2013 Unit sale
Slide 11: Point-of-Care: Hemo Control / HemoPoint
POINT-OF-CARE H1 2013 delivery Hemo Control / HemoPoint • Growing presence in USA through Alere contract • Part of McKesson Medical Surgery Labzone • Incremental growth of microcuvettes: • Correlation with the increase in the base of placed analysers • Consumable sales are the key contributor to mar
Slide 12: Point-of-Care: Biosen C-Line and S-Line
POINT-OF-CARE H1 2013 delivery Biosen C-Line and S-Line • Unit sales of analysers +60% • Rationalised range from six to three models • Significant growth in Russia, Germany and China • China is using Biosen as the gold standard for monitoring performance of blood glucose monitors Unit sales H1 2013
Slide 13: Central Laboratory: Clinical chemistry and laboratory products
CENTRAL LABORATORY H1 2013 delivery Clinical chemistry and laboratory products • Mature clinical chemistry products in mature market • Continuing to deliver high margin sales and cash generation • H1 2013 v H1 2012 sales +9% • Regular bulk orders from Roche, Ortho Clinical Diagnostics, Sekisui Diagn
Slide 14: Molecular Diagnostics: Oncology biomarkers
MOLECULAR DIAGNOSTICS Oncology biomarkers • 360 Genomics acquired H1 2013 • Fully integrated into EKF Diagnostics Group • Three products launched into RUO market ahead of expectations (BRAF, KRAS, EGFR) • Product being evaluated by Central Biotechnology Services, Cardiff University. Early results ha
Slide 15: Kidney Biomarkers
KIDNEY BIOMARKERS sTNFR1 • Studies from France and Finland in draft. Publication Q4 2013 • Established a large scale trial with the Dublin Academic Medical Centre • Identifying reference labs in USA prior to launch • CE marked ELISA kit based on Joslin licence to be launched Q1 2014 • Significant in
Slide 16: H1 2013 Financial Overview
H1 2013 FINANCIAL OVERVIEW H1 2013 H1 2012 +/- Comments £’000 £’000 Revenue 14.89 m 12.65 m 17.7 % Significant sales growth across all regions Gross profit 7.65 m 7.27 m 0.38 m Gross margin 51.3 % 57.4 % - Product mix Operating 0.66 m 0.34 m 0.32 m profit PBT 0.19 m 0.15 m 0.04 m Adj. EBITDA 2.12 m
Slide 17: H2 2013: Outlook
H2 2013: OUTLOOK Continued growth Point-of-care • Tenders in pipeline for HemoPoint and Quo-Lab • Driving growth through powerful distribution base including: • Alere (global and USA) • Cardinal, McKesson Medical Surgery, Fisher (USA) • Human (developing world) • IME-DC (Eastern Europe and former CI
Slide 18: Other Growth Opportunities
OTHER GROWTH OPPORTUNITIES 2014 and beyond STAT-Site M BHB and STAT-Site M Hgb strip-based analysers global launched Q2-Q3 2013 Haematocrit compensation on lactate sensor technology to provide a channel into the obstetric market. Premiere at Medica 2013 C-Reactive Protein to be launched on Quo-Lab p
Slide 19: Thank You
SCIENCE MADE SIMPLE DIAGNOSTICS THANK YOU
Slide 20: Appendix: Product portfolio
APPENDIX Product portfolio 20 20
Slide 21: Quo-Lab
QUO-LAB Glycated haemoglobin (HbA1c) • 4 minutes to result • 4 step procedure with instructions on-screen • Boronate Affinity methodology • Less than 3% CV at 7% A1c • Measuring range: 4-15% A1c • Unaffected by Hb variants • Traceable to IFCC reference method • Dual reporting in IFCC & DCCT values •
Slide 22: Quo-Test
QUO-TEST Glycated haemoglobin (HbA1c) • 4 minutes to result • Minimal training time and no maintenance • Boronate Affinity methodology • Less than 3% CV at 7% A1c • Measuring range: 4-15% A1c • Unaffected by Hb variants • Traceable to IFCC reference method • Dual reporting in IFCC & DCCT values • St
Slide 23: Hemo Control
HEMO CONTROL Haemoglobin • Results in 25 seconds • Simple to use, CLIA waived • Backlit touch screen • 8 μl capillary or venous blood • Less than 2% CV • Calibrated to NCCLS reference • Stores up to 4,000 results • Lightweight and portable • Internal lithium battery • Connectable to hospital LIS 23
Slide 24: Biosen C-Line and S-Line
BIOSEN C-LINE and S-LINE Glucose and lactate • Rapid assay (30-40 seconds to result) • Up to 112 results per hour • 20 μl of capillary or venous blood • Less than 1.5% CV • Multi-lingual touch screen display • Stores up to 1,000 results • Connectable to hospital LIS • Connects to standard printer •
Slide 25: Lactate Scout+
LACTATE SCOUT+ • 10 seconds to result • 0.2 μl of capillary blood • < 3.4mmol/L: +/- 0.2mmol/L • Stores up to 250 results • 2 AA batteries provide 1,000 results • Pre-calibrated sensors • Operates in extreme temperatures • And up to 85% humidity • Integrated Bluetooth • Pocket-sized and just 80g 25
Slide 26: STAT-Site M
STAT-SITE M Haemoglobin • Hemoglobin analysis in seconds • Photometric, azide-methemoglobin method • User friendly features minimise training time • 1,000 tests using just 1 x 3V Li (CR 2032) type battery • Operating range: 16° - 35° C (61° - 95° F) • Humidity: 20% - 80% (non-condensing) • Automatic
Slide 27: Beta-Hydroxybutyrate
BETA-HYDROXYBUTYRATE Clinical chemistry • Beta-Hydroxybutyrate (b-HB) is an enzymatic assay used on clinical chemistry analysers • The test quantifiably detects the presence of the ketones in patients with suspected Diabetic Ketoacidosis (DKA) • b-HB is the primary ketone produced by the body during
Slide 28: Pointman BRAF, KRAS and EGFR
• Better identify patients diagnosed with metastatic melanoma Pointman BRAF who are suitable for treatment with Zelboraf • Help predict which patients diagnosed with colorectal cancer Pointman KRAS will not respond to novel therapies such as Erbitux and Vectibix Pointman • Efficiently identify which
Slide 29: Xtract DNA extraction: problem and solution
The problem: The bottleneck in any DNA/RNA lab analysis is the extraction step Analysis needs a high quality sample The solution: Xtract Fewer steps than existing technology Improves the integrity of the sample Allows for automation and higher throughput Applicable to multiple market sectors inc. ph
Slide 30: Science Made Simple
SCIENCE MADE SIMPLE DIAGNOSTICS
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