Diasorin S.p.a. · MIL:DIA
Diasorin — 9M 2019 Earnings Presentation
14 slides from Diasorin's earnings presentation, Nov 6, 2019
Slide 1: Q3 and 9M 2019 Results
Q3 and 9M 2019 Results DIASORIN SPA November 6, 2019
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: Highlights
Highlights COMPANY GUIDANCE CONFIRMED Q3’19 9M’19 @ curr @ CER @ curr @ CER FY 2019 at CER(*) compared to 2018 REVENUES €/mln 174.8 +7.4% +5.3% €/mln 525.1 +6.3% +4.2% REVENUES Growth between +5.0% and + 8.0% CLIA EX VIT D +10.8% +9.4% +11.4% +10.2% VIT D +1.3% -1.5% +1.1% -2.3% EBITDA Comparable to
Slide 4: Business and Product Development Highlights
Business and Product Development Highlights H1’19 Q3’19 NEW PANEL LAUNCH: ANAEMIA HEPATITIS & RETROVIRUS: HCV IMMUNODIAGNOSTICS Launch of VITAMIN B12 and FOLATE tests for diagnosis/treatment of anaemia in addition to the Launch of HCV test for qualitative determination of specific hepatitis C antibo
Slide 5: Q3 and 9M 2019 revenues growth
Q3 and 9M 2019 revenues growth Q3’19 vs. Q3’18 9M’19 vs. 9M’18 Q3’19 vs. Q3’18 9M’19 vs. 9M’18 Total Group revenues @ curr +7.4% +6.3% EUROPE & AFRICA +8.8% +6.3% @ CER +5.3% +4.2% Growth driven by CLIA sales (Vitamin D, Latent Tuberculosis, Italy +17.2% +20.2% PCT and GI stool panel) CLIA sales gro
Slide 6: Q3 2019 revenues growth managerial outlook @ CER
Q3 2019 revenues growth managerial outlook @ CER +6.2% Latin +6.6% America Direct Asia Pacific Direct +10.4% Export USA & Canada Direct 171.5 +8.8% Europe & Africa Direct -17.1% 162.8 Direct Sales +8.9% Q3 2018 Q3 2019 Q3 and 9M 2019 Results 6
Slide 7: 9M 2019 revenues breakdown
9M 2019 revenues breakdown by geography by technology Instruments & other revenues 9M’18 9M’18 USA & Canada 11.8% 28.2% Molecular diagnostic tests Europe & Africa 8.2% 46.1% CLIA tests 65.9% ELISA tests 14.1% Asia Pacific 19.3% Latin America 6.4% 9M’19 9M’19 Instruments & other revenues USA & Canada
Slide 8: Installed base expansion
Installed base expansion 7,849 7,952 8,061 8,156 +363 4,001 +124 4,125 +126 4,251 +113 4,364 LAS 3,848 -21 3,827 -17 3,810 -18 3,792 -56 @ Dec 31, 2018 @ March 31, 2019 @ June 30, 2019 @ Sept 30, 2019 Q3 and 9M 2019 Results 8
Slide 9: Q3 and 9M 2019 profitability profile
Q3 and 9M 2019 profitability profile Q3’18 Q3’19 Change % 9M’18 9M’19 Change % EBITDA (€/MLN) 58.9 69.7 +18.3% 187.1 208.9 +11.7% @ CER +16.2% +9.2% EBITDA MARGIN 36.2% 39.9% +366 bps 37.9% 39.8% +191 bps @ CER 40.0% +375 bps 39.7% +182 bps 9M’19 EBITDA increase as a result of the followings: • Gros
Slide 10: Financial schemes
Financial schemes 10
Slide 11: Income Statement
Income Statement Q3 Change 9M Change Data in € million 2018 2019 amount % 2018 2019 amount % Net revenues 162.8 174.8 +12.0 +7.4% 494.0 525.1 +31.1 +6.3% Gross profit 109.2 119.8 +10.7 +9.8% 336.0 363.1 +27.1 +8.1% Gross Margin 67.1% 68.5% +148 bps 68.0% 69.1% +113 bps S&M (32.2) (35.4) -3.2 +9.8% (
Slide 12: Balance Sheet
Balance Sheet Data in € million 12/31/18 09/30/19 Change Goodwill and intangibles assets 373.1 379.9 +6.8 Property, plant and equipment 95.0 125.7 +30.8 Other non-current assets 23.0 27.9 +4.9 Net working capital 201.0 205.8 +4.7 Other non-current liabilities (62.7) (61.3) +1.4 Net Invested Capital
Slide 13: Cash Flow Statement
Cash Flow Statement Q3 9M Data in € million Change Change 2018 2019 2018 2019 Cash and cash equivalents at the beginning of the period 104.6 90.1 -14.5 159.3 73.1 -86.2 Operating activities 45.0 81.8 +36.8 133.4 171.1 +37.8 Investing activities (14.1) (10.2) +3.9 (35.1) (34.6) +0.5 Financing activit
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