Biomerieux Sa · EURONEXT:BIM
Biomerieux Sa — Investor Day (April 2024)
72 slides from Biomerieux Sa's investor day presentation, Apr 9, 2024
Slide 1: Capital Markets Day 2024
APRIL 91, 2024 CAPITAL MARKETS DAY «2024 BIOMERIEUX BIOMERIEUX'S CAPITAL MARKETS DAY 2024
Slide 2: Disclaimer
DISCLAIMER This presentation has been prepared by bioMérieux solely for use at its Capital Markets Day to be held on April 9, 2024. This presentation contains forward-looking statements concerning bioMérieux’s financial position, results, businesses, strategy or projects based, entirely or partially
Slide 3: Agenda
AGENDA Our New Ambition GO for Growth GO Simple GO Stronger GO Responsible Bringing it all together: bioMérieux’s mid-term ambition Closing Remarks / 2
Slide 4: Pierre Boulud, Chief Executive Officer
PIERRE BOULUD Chief Executive Officer / 3
Slide 5: Why now? Post-COVID-19 era opens a new chapter for the diagnostics industry
WHY NOW? POST-COVID-19 ERA OPENS A NEW CHAPTER FOR THE DIAGNOSTICS INDUSTRY “COVID-19” NOW, MORE VISIBILITY HAS DISRUPTED THE INDUSTRY INTO KEY MID-TERM INDUSTRY TRENDS Growing recognition of the value of IVD Increased demand for POC testing Acceleration of IVD technologies’ Centralization and conso
Slide 6: bioMérieux emerged reinforced from COVID-19 and has solid fundamentals
BIOMÉRIEUX EMERGED REINFORCED FROM COVID-19, AND HAS SOLID FUNDAMENTALS TO DRIVE THE NEXT CHAPTER OF ITS GROWTH STRONG REVENUE GROWTH ENHANCED PROFITABILITY WE ARE READY FOR OUR NEXT GROWTH CHAPTER €3,7bn €610m +37% +50% €2.7bn Diversified portfolio with leadership €412m1 cEBIT positions evolution ~
Slide 7: New governance in place
TO PREPARE THIS NEW CHAPTER, BIOMÉRIEUX HAS A NEW GOVERNANCE IN PLACE SEASONED MANAGEMENT TEAM WITH STRONG IVD EXPERTISE ALEXANDRE MERIEUX, CHAIRMAN, APPOINTED PIERRE BOULUD AS CEO Pierre Boulud Presenting today CEO (Joined in 2016) IN JUNE 2023 Location Guillaume Bouhours Jennifer Zinn EVP Finance,
Slide 8: New strategic roadmap to drive profitable growth, supported by four pillars
WE BUILT A NEW STRATEGIC ROADMAP TO DRIVE PROFITABLE GROWTH, SUPPORTED BY FOUR PILLARS “We help make the world a healthier place” 60 YEARS IN IVD INFECTIOUS DISEASE EXPERT INNOVATION-DRIVEN /7
Slide 9: Grow sales organically by +7% annually through 2028
WE WILL GROW OUR SALES ORGANICALLY BY +7% ANNUALLY THROUGH 2028 FOUR GROWTH ENGINES… …SUPPORTED BY: BIOFIRE®* NON-RESPIRATORY PANELS Leading positioning in high-potential segments SPOTFIRE®* Focused innovation and allocation of resources MICROBIOLOGY Differentiated Data / IT solutions INDUSTRIAL APP
Slide 10: We will reach 20% cEBIT margin by 2028
WE WILL REACH 20% cEBIT MARGIN1 BY 2028 SIMPLIFY ORGANIZATION SIMPLIFY PROCESSES COMMERCIAL SUPPORT COGS OPERATIONS FUNCTIONS /9 1. At constant exchange rate
Slide 11: We will enhance our operating model
WE WILL ENHANCE OUR OPERATING MODEL A SUPERIOR OPERATING MODEL… … STRENGTHENING TEAM MEMBERS ENGAGEMENT … … TO UNLOCK THE FULL POTENTIAL OF OUR TEAMS / 10
Slide 12: We will continue to deploy our CSR ambition
WE WILL CONTINUE TO DEPLOY OUR CSR AMBITION O U R A M B I T I O N A S P R E S E N T E D I N 2 0 2 2 S T I L L S TA N D S HEALTHCARE EXTENDED HEALTH PLANET EMPLOYEES ECOSYSTEM COMPANY We implement We foster We support We build long-term We pioneer environmentally ethical dialogue with the development
Slide 13: Our strategic roadmap will deliver profitable growth
OUR STRATEGIC ROADMAP WILL DELIVER PROFITABLE GROWTH ORGANIC REVENUE GROWTH cEBIT MARGIN AT CER1 20% +7% 16.6% +340bps Annual organic CAGR (2024 / 2028) 2023 2028E OBJECTIVE OF MID-TERM VALUE CREATION FOR ALL STAKEHOLDERS, WITH FURTHER POTENTIAL UPSIDE FROM M&A / 12 1. Constant exchange rate
Slide 14: Speakers
SPEAKERS Pierre BOULUD I Chief Executive Officer Charles COOPER I EVP CMO Jennifer ZINN I EVP Clinical Operations Yasha MITROTTI I EVP Industrial Applications Celine ROGER-DALBERT I EVP R&D / 13
Slide 15: Comprehensive portfolio strategy through four growth drivers
COMPREHENSIVE PORTFOLIO STRATEGY TO DRIVE PROFITABLE GROWTH THROUGH FOUR GROWTH DRIVERS 2023 REVENUE LEVERS STRATEGY / POSITIONING BIOFIRE® RESPIRATORY PANELS (“RP”) Maximize value of installed base 23% 15% NON-RESPIRATORY PANELS (“Non-RP”) GROWTH ENGINE CLINICAL 1% APPLICATIONS SPOTFIRE® GROWTH ENG
Slide 16: BIOFIRE
Gd FOR GROWTH BIOFIRE® BIOMERIEUX'S CAPITAL MARKETS DAY 2024 / 15
Slide 17: Medical value of syndromic testing
MEDICAL VALUE OF SYNDROMIC TESTING: FULLY ALIGNED WITH CLINICIANS’ MEDICAL APPROACH Non-syndromic approach SYNDROME Syndromic approach (symptoms + signs) # OF TESTED Limited number 29 in average1 PATHOGENS in a single test Hours to day TIME TO RESULT 45mns to 1 hour Faster diagnosis of causative pat
Slide 18: Molecular market: different levels of plexing for different medical needs
MOLECULAR MARKET: DIFFERENT LEVELS OF PLEXING FOR DIFFERENT MEDICAL NEEDS HOSPITALS1 OUT OF HOSPITALS1 Family Urgent Hospital Practice / Physician Retail Emergency Dept Care Others Lab Pediatric Office Clinic Center Practice Higher Plex PATIENT SEVERITY LEVEL Lower Plex HISTORIC CORE BUSINESS POC BU
Slide 19: BIOFIRE technology created a new segment: syndromic testing
BIOFIRE® TECHNOLOGY CREATED A NEW SEGMENT: BIOFIRE® SYNDROMIC TESTING HIGH-PLEX MOLECULAR INFECTIOUS DISEASES HIGH-PLEX MOLECULAR BIOMÉRIEUX IS THE UNDISPUTED LEADER1 DIAGNOSTIC MARKET 23-28E CAGR1 €2.4bn1 +7% 6% Others €1.7bn RP €1.2bn 0 to +5% 4% ~75% Player #3 €1.7bn €1.1bn Non-RP ~15% €1.1bn +10
Slide 20: Unrivaled leading market player with BIOFIRE
UNRIVALED LEADING MARKET PLAYER WITH BIOFIRE® BEST IN-CLASS MENU, LARGEST INSTALLED BASE Best-in-class solution Fastest results (45 mins to 1h) Comprehensive & clinically actionable results Modular and scalable systems Broadest portfolio (6 panels FDA-approved and CE-marked) BIOFIRE® Menu BIOFIRE® s
Slide 21: BIOFIRE respiratory panels: leverage installed base of 25,400 instruments
BIOFIRE® RESPIRATORY PANELS: LEVERAGE OUR BIOFIRE® RP INSTALLED BASE OF 25,400 INSTRUMENTS TO MAINTAIN SALES AND PROFIT DEMONSTRATED ABILITY TO RETAIN KEY PLATFORM DYNAMICS CUSTOMERS, EVEN POST-COVID-19 Opportunities Of customers that started using • Growth potential from OUS expansion 95% respirato
Slide 22: BIOFIRE non-respiratory panels: untapped growth runway
BIOFIRE® NON-RESPIRATORY PANELS: WE SEE FURTHER, BIOFIRE® non-RP Growth engine UNTAPPED GROWTH RUNWAY TO DRIVE +10% GROWTH ANNUALLY THROUGH 2028 Generate demand Drive medical education & support evidence by increasing awareness generation to accelerate product adoption Customers using at least: Leve
Slide 23: R&D pipeline focused on supporting growth strategy
R&D PIPELINE FOCUSED ON BIOFIRE® non-RP SUPPORTING GROWTH STRATEGY Growth engine 2025 2026 2027 BIOFIRE® BIOFIRE® BIOFIRE® Meningitis/ IVD Tropical Fever Gastrointestinal Encephalitis Panel Panel Mid (Refresh) VETFIRE™ BIOFIRE® NEW SEGMENTS Equine Respiratory Forensics WATCHFIRE™1 Panel + CONTINUOUS
Slide 24: SPOTFIRE
Gd FOR GROWTH SPOTFIRE® BIOMERIEUX'S CAPITAL MARKETS DAY 2024 / 23
Slide 25: Medical value of point of care testing
MEDICAL VALUE OF POINT OF CARE TESTING: SPOTFIRE® GETTING CLOSER TO THE PATIENT Growth engine Fast1 Results are provided during patient appointment Easy to use1 Small and intuitive instruments, easy to use by any Healthcare Professional / non-lab professional Convenient1 Testing is done onsite and n
Slide 26: Opportunity with SPOTFIRE to access a very dynamic segment
OPPORTUNITY WITH SPOTFIRE® TO ACCESS A VERY SPOTFIRE® DYNAMIC SEGMENT, IN WHICH BIOMÉRIEUX HAS NO Growth engine SIGNIFICANT PRESENCE TODAY MOLECULAR POINT OF CARE - CLIA WAIVED Global Market Value Opportunity €4.2bn3 Non-Respiratory €3.8bn3 New market (Non-RP) €1.0bn+ STI1, GI2, Vaginitis €3.8bn Sli
Slide 27: SPOTFIRE platform has superior features and capabilities
OUR SPOTFIRE® PLATFORM HAS SUPERIOR SPOTFIRE® FEATURES AND CAPABILITIES, AND IS PERFECTLY Growth engine POSITIONED TO ADDRESS MARKET NEEDS 1,200 modules as of March 2024 SUPERIOR FEATURES AND CAPABILITIES Available in 7 countries Fastest solution in the market McKesson Distribution • ~ 15 minutes vs
Slide 28: Clear strategy to reach €450M of sales by 2028
CLEAR STRATEGY TO GAIN MARKET SHARES AND SPOTFIRE® REACH €450M OF SALES BY 2028 Growth engine Significant opportunities targeting both: • IDNs & large hospitals using entire US sales team Ramp up in the US • Independent Point of Care settings using McKesson Offer both 15-plex and 5-plex to give cust
Slide 29: R&D pipeline focused on menu expansion
R&D PIPELINE FOCUSED ON MENU EXPANSION, TO SPOTFIRE® ADDRESS BOTH NEAR-PATIENT AND LAB SETTINGS Growth engine 2023 2024 2025 2026 2027 2028 SPOTFIRE® SPOTFIRE® SPOTFIRE® SPOTFIRE® SPOTFIRE® Respiratory (R) Respiratory / Sore Vaginitis Panel Meningitis/ Gastrointestinal Panel Throat (R/ST) Panel Ence
Slide 30: Microbiology
Gd FOR GROWTH MICROBIOLOGY BIOMERIEUX'S CAPITAL MARKETS DAY 2024 / 29
Slide 31: Antimicrobial resistance is a critical global health issue
ANTIMICROBIAL RESISTANCE (“AMR”) MICROBIOLOGY IS A CRITICAL GLOBAL HEALTH ISSUE Growth engine Illustration: TODAY Sepsis, where accurate and rapid diagnostics are key 1,270,000 deaths per year Having a quick diagnostic increases survival rate as a result of AMR1 1 death every 25 seconds 1 delay in t
Slide 32: Leadership position in microbiology, serving the entire market
WE HAVE A LEADERSHIP POSITION MICROBIOLOGY IN MICROBIOLOGY, SERVING THE ENTIRE MARKET Growth engine Key bioMérieux segments: leading positions across the patient testing needs Segment Growth bioMérieux (23-28)2 Positioning2 €3.3BN Blood Culture +6% #1 as of 20232 +4-6% CAGR through 20282 Mass Spectr
Slide 33: Unique offering to focus on what matters and deliver faster results
UNIQUE OFFERING THAT HELPS TO FOCUS MICROBIOLOGY Growth engine ON WHAT MATTERS AND TO DELIVER FASTER ACTIONABLE RESULTS CULTURE / ISOLATION IDENTIFICATION SUSCEPTIBILITY TESTING ~45% of bioMérieux Microbiology sales ~25%1 ~30% NEW NEW Best Time to Results for routine Rapid ID (isolates) ID/AST testi
Slide 34: Broad and scalable offer to deliver +6-8% annual organic growth
OUR BROAD AND SCALABLE OFFER WILL ENABLE US MICROBIOLOGY Growth engine TO DELIVER +6-8% ANNUAL ORGANIC GROWTH THROUGH 2028 Cross-selling of our full solution portfolio to become leader on segments ~48% of VITEK® customers where we are not leading (e.g., Mass are not yet equipped with BACT/ALERT® ins
Slide 35: R&D pipeline focused on supporting growth strategy
R&D PIPELINE MICROBIOLOGY Growth engine FOCUSED ON SUPPORTING GROWTH STRATEGY 2024 2025 2026 2027 VITEK® REVEALTM VITEK® REVEALTM Gram Negative Gram Positive Blood culture Blood Culture (US launch) MENU VITEK® / ETEST® One new drug / year + breakpoints update / year VITEK® VITEK® Next generation INS
Slide 36: Data / IT solutions increase the value of our portfolio
OUR DATA / IT SOLUTIONS INCREASE THE VALUE OF OUR MICROBIOLOGY PORTFOLIO AND TRANSFORM TEST RESULTS INTO Growth engine ACTIONABLE DIAGNOSTIC INFORMATION MAESTRIA™ Connects all instruments, and enables lab workflow monitoring and optimization CLARION™ Monitors trends in organisms' occurrence and resi
Slide 37: Immunoassays
Gd FOR GROWTH IMMUNOASSAYS BIOMERIEUX'S CAPITAL MARKETS DAY 2024 / 36
Slide 38: bioMérieux is a niche player in immunoassays
BIOMÉRIEUX IS A NICHE PLAYER IN IMMUNOASSAYS, IMMUNOASSAYS WITH GROWTH LARGELY DRIVEN BY DEVELOPING SETTINGS Maintain share in DEVELOPED settings Grow in DEVELOPING settings Complementary use of VIDAS® Routine use of VIDAS® by automating labs that are currently running ImmunoAssays manually Innovati
Slide 39: Industrial Applications
INDUSTRIAL APPLICATIONS / 38
Slide 40: Industrial Applications protects consumer safety and patient health
THE PURPOSE OF THE INDUSTRIAL APPLICATIONS BUSINESS INDUSTRIAL IS TO PROTECT CONSUMER SAFETY AND PATIENT HEALTH APPLICATIONS Growth engine STRATEGIC GROWING BUSINESS HIGHLY COMPLEMENTARY with Clinical Operations PHARMA QUALITY CONTROL FOOD SAFETY & QUALITY 70% Testing solutions Testing solutions to
Slide 41: Positioned on attractive segments in pharma QC and food safety
BIOMÉRIEUX IS POSITIONED ON HIGHLY ATTRACTIVE INDUSTRIAL SEGMENTS WITHIN THE PHARMA QUALITY CONTROL AND APPLICATIONS FOOD SAFETY & QUALITY MARKETS Growth engine STRONG UNDERLYING MACRO TRENDS SOLID MARKET GROWTH Growing and ageing population to feed, treat & cure €2.4bn Key segments Food €1.9bn Dair
Slide 42: Food safety and quality growth drivers
FOOD SAFETY AND QUALITY INDUSTRIAL APPLICATIONS GROWTH DRIVERS Growth engine • Leverage our leading platform GENE-UP® Accelerate Customer acquisition (~1,000 units installed, growing at 20%+) through Molecular innovation • Rapid innovation capabilities in EU and US for custom tests to develop untapp
Slide 43: Pharma quality control growth drivers
PHARMA QUALITY CONTROL INDUSTRIAL APPLICATIONS GROWTH DRIVERS Growth engine • mRNA and Cell and Gene Therapies (C>) Leverage market growth on new • Strong innovation pipeline to develop rapid sterility developing segments through high medical impact tests • Preferred partner of the market leaders
Slide 44: Innovation powerhouse to drive growth
INNOVATION POWERHOUSE TO DRIVE GROWTH BIOMERIEUX'S CAPITAL MARKETS DAY 2024 / 43
Slide 45: R&D is part of our DNA
R&D IS PART OF OUR DNA WE HAVE UNIQUE CAPABILITIES TO DRIVE FURTHER GROWTH 2023 R&D COSTS (as % of sales) R&D COSTS BREAKDOWN (2023) Partnerships with leading institutions across the world BREAKTHROUGH Peers1 INNOVATION 456 20+ MOLECULAR 12% 13% Patent Patents / IMMUNOASSAYS 34% 12.5% 11% families y
Slide 46: Critical levers to increase efficiency of R&D investment
WE HAVE IDENTIFIED CRITICAL LEVERS TO FURTHER INCREASE THE EFFICIENCY OF OUR R&D INVESTMENT Focus on innovation that brings TARGETED CLINICAL VALUE for patient care and laboratory efficiency Improve Portfolio Increase MARKET EVIDENCE Management to foster AGILITY to support innovation adoption to all
Slide 47: Wave of new instruments and menu expansion delivered and to come
WE DELIVERED AN UNPRECEDENTED WAVE OF NEW INSTRUMENTS AND KEY MENU EXPANSION OVER THE LAST FEW YEARS, AND WILL CONTINUE TO DO SO 2020-2023 2024-2028 Longer-term focus areas BIOFIRE® Evolution of Healthcare MOLECULAR RP2.1 Joint SPOTFIRE® R Mini Infection BIOFIRE® Tropical Fever Panel R/ST + mini For
Slide 48: Agenda
AGENDA Our New Ambition GO for Growth GO Simple GO Stronger GO Responsible Bringing it all together: bioMérieux’s mid-term ambition Closing Remarks / 47
Slide 49: Speaker: Guillaume Bouhours
SPEAKER Guillaume BOUHOURS I EVP Finance, IT & Purchasing / 48
Slide 50: Bottom-up exercise to identify efficiency initiatives
WE HAVE GONE THROUGH AN EXTENSIVE, BOTTOM-UP EXERCISE TO IDENTIY INITIATIVES TO IMPROVE EFFICIENCY 5 teams across 9 different functions Significant involvement throughout the organization SIMPLIFY ORGANIZATION 3 months Bottom-up process, supported by an SIMPLIFY PROCESSES external advisor COMMERCIAL
Slide 51: Efficiency driver #1: COGS
EFFICIENCY DRIVER #1: COGS Key initiatives Case study: Internalization of Enzyme production Purchasing / re-sourcing • Manufacturing of a key enzyme needed for our reagents, which was mostly outsourced Internalization / “make or buy” • Internalize manufacturing of 75% of the enzyme volumes Optimize
Slide 52: Efficiency driver #2: Commercial operations
EFFICIENCY DRIVER #2: COMMERCIAL OPERATIONS Key initiatives Case study: “Service in Motion” initiative Salesforce efficiency • Improve our Customer Service model to increase customer satisfaction and enhance efficiency Pricing optimization • Improve remote resolution rate (upon first contact) • Impr
Slide 53: Efficiency driver #3: Support functions
EFFICIENCY DRIVER #3: SUPPORT FUNCTIONS Key initiatives Case study: IT Nearshoring • 40% of IT resources sourced from 3rd party in the Leverage Shared service centers US/France • Existing suppliers‘ lower cost countries offering improved on technological skills Smartly optimize service levels • Sour
Slide 54: Initiatives will result in 20% cEBIT margin by 2028
INITIATIVES WILL RESULT IN IMPROVED PROFITABILITY REACHING 20% cEBIT MARGIN AT CER1 BY 2028 TARGET cEBIT MARGIN AT CER1 AT LEAST +340 20% +10% bps annual organic cEBIT growth at CER1 16.6% Implementation costs in 2024-2025 to drive efficiency Acceleration of margin improvement post-2025 2023 D&A COG
Slide 55: Agenda
AGENDA Our New Ambition GO for Growth GO Simple GO Stronger GO Responsible Bringing it all together: bioMérieux’s mid-term ambition Closing Remarks / 54
Slide 56: Speaker: Pierre Boulud
SPEAKER Pierre BOULUD I Chief Executive Officer / 55
Slide 57: Enhance operating model by building high performing teams
WE WILL ENHANCE OUR OPERATING MODEL BY BUILDING HIGH PERFORMING TEAMS … SUPPORTED BY THE DEPLOYMENT OF A SUPERIOR OPERATING MODEL… 5 CORE BEHAVIORS Reinforced delegation to Group senior I cultivate Trust and act as ONE bioMérieux committees to strengthen empowerment I am accountable and empowered Cl
Slide 58: Agenda
AGENDA Our New Ambition GO for Growth GO Simple GO Stronger GO Responsible Bringing it all together: bioMérieux’s mid-term ambition Closing Remarks / 57
Slide 59: Speaker: Pierre Boulud
SPEAKER Pierre BOULUD I Chief Executive Offices / 58
Slide 60: Our ambition is to act for a positive CSR impact
OUR AMBITION IS TO ACT FOR A POSITIVE CSR IMPACT Targets As of end 2023 HEALTHCARE EXTENDED HEALTH PLANET EMPLOYEES ECOSYSTEM COMPANY +30% patient results -50% GHG absolute X2 collaboration projects Lost Day Incident Rate ≥1% of net income supporting AMS by 2025 emissions in 2030 vs. with patient as
Slide 61: We act concretely
WE ACT CONCRETELY PLANET 68% 21% of our reagents of our total energy shipped by sea consumption is (vs. 48% in 2019) Renewable Energy EXTENDED COMPANY 40% 62% of targeted emissions from of our purchasing expenditure come from suppliers who adopted SBTi EcoVadis rated suppliers, with an average score
Slide 62: Agenda
AGENDA Our New Ambition GO for Growth GO Simple GO Stronger GO Responsible Bringing it all together: bioMérieux’s mid-term ambition Closing Remarks / 61
Slide 63: Speaker: Guillaume Bouhours
SPEAKER Guillaume BOUHOURS / 62
Slide 64: Contributions to sales growth from our growth engines
CONTRIBUTIONS TO SALES GROWTH FROM OUR GROWTH ENGINES IN THE MID-TERM Average annual organic sales growth to 2028 vs 2024 BIOFIRE® BIOFIRE® INDUSTRIAL Non-RP RP SPOTFIRE® MICROBIOLOGY IMMUNOASSAYS APPLICATIONS €450m +10% ~Flat by 2028 +6-8% ~Flat +7-9% +9% OVERALL +7% AVERAGE ANNUAL ORGANIC SALES GR
Slide 65: Strategic roadmap will deliver strong growth and profitability improvement
OUR STRATEGIC ROADMAP WILL DELIVER STRONG GROWTH AND PROFITABILITY IMPROVEMENT IN THE MID-TERM REVENUE GROWTH cEBIT MARGIN AT CER1 20% AT LEAST +340 +10% +7% bps annual organic cEBIT growth at 16.6% CER1 Annual organic CAGR (2024 / 2028) • Investments in 2024-2025 to unlock savings • Acceleration of
Slide 66: Strong balance sheet and cash flow generation
STRONG BALANCE SHEET AND CASH FLOW GENERATION RECURRING CASH FLOW GENERATION STRONG BALANCE SHEET EBITDA margin expansion outpacing cEBIT’s 0.2x 27% Capex as % of sales: Leverage as of Dec-2023 22.5% +450 bps 8-10% going forward €166M 2023 2028E Net debt as of Dec-2023 STRENGTHENING OF CASH FLOW GEN
Slide 67: We consider M&A as a complementary growth lever
WE CONSIDER M&A AS A COMPLEMENTARY GROWTH LEVER Fill gaps in existing portfolio (e.g., technology, product offering) Or BUSINESS CRITERIA Penetrate adjacent segments where we have the capability to win M&A STRATEGY Leadership positions Sustainably growing Clear target profile: GOING Profitable Tangi
Slide 68: Capital allocation policy focused on maximizing returns
CAPITAL ALLOCATION POLICY FOCUSED ON MAXIMIZING RETURNS FOR ALL STAKEHOLDERS Maintain R&D at ~12% of sales 1 Long-term reinvestment in the business Capex of 8-10% of sales 2 Clear dividend policy Targeted payout ratio1 of ~25% 3 Value-creative M&A Maintain investment grade profile / 67 1. Payout rat
Slide 69: Agenda
AGENDA Our New Ambition GO for Growth GO Simple GO Stronger GO Responsible Bringing it all together: bioMérieux’s mid-term ambition Closing Remarks / 68
Slide 70: Pierre Boulud, Chief Executive Officer
PIERRE BOULUD Chief Executive Officer / 69
Slide 71: Strong confidence to deliver GO plan
STRONG CONFIDENCE TO DELIVER GO 28 PLAN GROWTH DRIVERS AMBITIOUS & ALREADY GROUNDED STRONG LEADERSHIP SUPPORTIVE BOARD DELIVERING STRATEGY 5 new systems launched Owning the plan Aligned with Concrete initiatives GO•28 ambition in the last 18 months : Bringing supporting a high SPOTFIRE®, VITEK® MS I
Slide 72: Capital Markets Day 2024
APRIL 91, 2024 CAPITAL MARKETS DAY - 2024 BIOMERIEUX'S CAPITAL MARKETS DAY 2024