Bactiguard Holding Ab · OMXSTO:BACTI_B
Bactiguard Holding Ab — Q3 2018 Earnings Presentation
21 slides from Bactiguard Holding Ab's earnings presentation, Nov 6, 2018
Slide 1: Bactiguard Infection Protection Q3 presentation
Bactiguard Infection Protection Q3 presentation 6 November, 2018 1
Slide 2: Financial highlights
Financial highlights Stable development following a very strong second quarter ✓ Q3 revenues of MSEK 35.7 (34.8) - 3% higher than in 2017 ✓ License revenues were higher at MSEK 30.1 (28.3) - BD revenues were higher in Q3, while new revenues were higher last year ✓ BIP sales were lower than last year
Slide 3: Operational highlights
Operational highlights ✓ Two more tenders won in Sweden, including first for CVCs ✓ New distribution partnership with Mediplast for Scandinavia – larger sales force in Sweden and access to Denmark and Norway ✓ Partnership with Well Lead moving ahead at high pace ✓ Product approval for Egypt finally
Slide 4: Media and public attention
Media and public attention Varstingbakterie pa uppsegiing KARLSKRONA | Artkeln publiceraces 22 september 2018 En muttiresistent tarmbakterie har tagit plats bland de storsta bekymren for 3 million common procedures in stnittskyddet i Blekinge rapporterar Radio P4 Blekinge. ESBL heter den multiresist
Slide 5: Recent developments in the healthcare sector
Recent developments in the healthcare sector • Getinge - patient safety and quality-related issues (FDA remarks) in US operations - reserved SEK 1.8 billion for future US claims • Boule Diagnostics - US FDA warning for errors in Swedish production • Hansa Medical - fast-track decision by the FDA on
Slide 6: Allbright report October 2018
Allbright report October 2018 • Bactiguard one of the most equal companies ✓ 21 of 329 listed Swedish companies ✓ 50% women in the management team ✓ 2 of 5 on the Board ✓ 60% in the company as a whole ✓ 17 different nationalities • The number of equal, listed Swedish companies has increased to 14% (
Slide 7: Shareholder base
Shareholder base Share of capital % % Shareholders of capital of votes CHRISTIAN KINCH AND COMPANY 18,4% 34,8% THOMAS VON KOCH AND COMPANY 18,4% 34,8% NORDEA INVESTMENT FUNDS 9,4% 4,5% STÅHLBERG, JAN 8,9% 4,3% FJÄRDE AP FONDEN 8,4% 4,0% HANDELSBANKEN INVESTMENT 4,8% 2,3% FUNDS OTHERS 31,7% 17,5% TOT
Slide 8: Market update
8 Market update Europe • Breakthrough CVC tender in Sweden • New partnership for Scandinavia • Upscaling activities in Germany MEA CHINA • Partnership with Well Lead moving ahead • Egyptian registration finally in place • First product delivery made in Q2 • Stable overall development despite • Onboa
Slide 9: Swedish presence
Swedish presence BIP Foleys procured for 70% and BIP CVCs for 13% of total population Stockholm region & County councils Gotland without tenders 23% 30% Blekinge 2% Kronoberg 2% Kalmar 2% Västra Götaland Värmland region 3% Halland 17% 3% Skåne region Östergötland 13% 5% Source: SCB (statistics Swede
Slide 10: Licensing business
Licensing business BD (C.R. Bard) ➢ Successful partnership since 1995 ➢ Bactiguard coated Foley catheters for the US, Japan and UK/Ireland ➢ Generating stable annual revenues Vigilenz Medical Devices ➢ Bactiguard coated orthopaedic trauma implants for the ASEAN markets ➢ Focus on concluding CE proce
Slide 11: Business model
Business model Two lines of business License BIP Portfolio 1 2 3 4 BD, Vigilenz, Smartwise BIP Foley BIP ETT BIP CVC and Well Lead License BIP revenue License agreements for Direct sales of own product portfolio various applications through longstanding partnerships 11
Slide 12: Financial highlights
Financial highlights Third quarter (July-September 2018) Highlights • Revenues of MSEK 35.7 (34.8), an increase of 3% • BIP sales of MSEK 3.9 (5.2), 24% lower than last year following an all-time high in Q2 • New licence revenues from Well Lead of MSEK 3.1 (4.0 from Smartwise last year) • License re
Slide 13: Revenue and EBITDA last twelve months (LTM)
Revenue and EBITDA last twelve months (LTM) Income distribution Last twelve months • Strong revenue development, 11% • Development mainly driven by strong growth in BIP sales, 66% • EBITDA somewhat lower MSEK 27.6 (30.2) • Lower EBITDA since BIP sales represent a larger share of total sales and one-
Slide 14: BIP revenues
BIP revenues Supplied products • Revenues from BIP-products of MSEK 3.9 (5.2) in Q3 • YTD revenues amounted to MSEK 26.1 (14.5), an increase of 80% • For the full year 2017 BIP-products generated revenues of MSEK 21.8
Slide 15: Development in revenues from BIP products
Development in revenues from BIP products Supplied products Value delivered BIP products, rolling 12 mths 40 • Strong Q2 2018 35 30 • Lower activity in Q3 MSEK 25 • 80% increase YTD 20 15 • 17% CAGR over this time period. 10 5 0
Slide 16: Revenue distribution
Revenue distribution Income distribution
Slide 17: Cash flow and liquidity
Cash flow and liquidity Cash flow third quarter (July-September) • Positive operating cash flow of MSEK 4.1 (5.2) • Net Cash position of MSEK 8.4 (19.5) • Liquidity of close to MSEK 40
Slide 18: Financial targets
Financial targets Average sales growth of 20% per annum for a 5-year period, with 2015 as the base year – starting point MSEK 118.5 EBITDA margin of at least 30% at the end of the 5-year period (by 2020) Equity ratio of at least 30% Over time uphold a dividend policy of 30-50% of net profit, taking
Slide 19: Concluding remarks
Concluding remarks ✓ Revenues are growing ✓ BIP sales increased by 80% in first nine months Strong development in China and India, combined with improved product mix Swedish sales growing and breakthrough CVC tender won ✓ License revenues up in Q3, lower in first nine months BD revenues catching up
Slide 20: Our vision
OUR VISION Eliminate healthcare associated infections to 1. save lives 2. reduce cost and 3. limit antimicrobial resistance, through preventive standards of care.. 20
Slide 21: Bactiguard representatives
Bactiguard representatives Christian Kinch, CEO Switchboard +46 8 440 58 80 christian.kinch@bactiguard.se @ChristianKinch Cecilia Edström, CFO Cell phone +46 72 226 23 28 cecilia.edstrom@bactiguard.se @EdstromCecilia For additional information, please visit www.bactiguard.se 21