Bonesupport Holding Ab · OMXSTO:BONEX
Bonesupport Holding Ab — Q3 2021 Earnings Presentation
17 slides from Bonesupport Holding Ab's earnings presentation, Nov 4, 2021
Slide 1: BONESUPPORT Q3 2021
BONESUPPORT Q3(2021) November 4th, 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 – Third quarter report 2021
BONESUPPORT – Third quarter report 2021 • Net sales SEK 54.9 m, growth: 14% versus Q3 2020, +26% in constant exchange rates • EBIT: SEK -13,3 m (SEK -19,2 m) • Uneven return of orthopedic surgeries in the back-drop of regional pandemic surge and staff shortage • Fortify: Inconclusive outcome due to
Slide 4: COVID-19 impact on market dynamics
COVID-19 impact on market dynamics • Returning COVID-hospitalization peak in several key markets (mainly US Southern States) with incidence rates matching levels in late Q1 2021. • CERAMENT sales tightly correlated to number of surgeries, in turn determined by pandemic impact • Shortage of staff has
Slide 5: Uneven return of surgeries with influence from pandemic and staffing challenges
Uneven return of surgeries with influence from pandemic and staffing challenges LTM Quarterly Sales per Segment 225,0 US distribution with 40 independent 225,0 distributors (dark blue bar) 205 197 200,0 200,0 180 181 173 175,0 166 165 175,0 US distribution with Zimmer Biomet (light blue bar) 155 150
Slide 6: North America: Strong sales growth with a continuously expanding customer base
North America: Strong sales growth with a continuously expanding customer base Q3 2021 • Sales of SEK 32,7 m, reported growth of 16% over Q3 2020, +34% in constant exchange rates • Southern states with major impact from re-surging pandemic (Delta-variant) wave After period end: • Launch of subchondr
Slide 7: New indication and area of use for CERAMENT: subchondral area
New indication and area of use for CERAMENT: Promoting bone healing and bone remodeling in the subchondral area Delivery option for surgeons using CERAMENT in targeted delivery and controlled minimally- invasive access to subchondral area CERAMENT with potential benefits versus bone cement, given th
Slide 8: CERAMENT G pathway to US market – Indication Bone Infection
CERAMENT G pathway to US market Indication Bone Infection App: 150 days Q2-Q3 2021: Q1 2022: Q2 2022: Oct 2022: Feb 2021: Potential FDA Potential Data collection on additional Potential FDA Request for data and comparable clinical approval CERAMENT G renewed NTAP – additional data, mainly CERAMENT G
Slide 9: EUROW – uneven pandemic recovery
EUROW – uneven pandemic recovery Q3 2021 • Sales of SEK 22.2 m, a growth of 12% vs Q3 2020, +16% in constant exchange rates • Regional return of surgeries. Rate of surgery influenced by COVID-hospitalization rate and staff capacity • Complete pandemic lock down in Australia Highlights • Return of co
Slide 10: Financial Review
Financial Review
Slide 11: Q3 2021 net sales SEK 54.9 m
Q3 2021 net sales SEK 54.9 m • A 34 percent growth CER in NA despite influence from the pandemic. 16 percent reported growth • A 16 percent growth CER in EUROW despite influence from the pandemic. 12 percent reported growth 11
Slide 12: Gross Margin – North America and EUROW
North America EUROW +16% 12% Net Sales Net Sales Q3-21 Q3-21 North America 2021 2020 EUROW 2021 2020 SEK m Q3-21 Q2-21 Q1-21 Q4-20 Q3-20 SEK m Q3-21 Q2-21 Q1-21 Q4-20 Q3-20 Net Sales 32.7 29.1 25.1 28.6 28.3 Net Sales 22.2 22.7 19.7 24.5 19.8 Gross profit 30.6 27.1 23.3 27.2 27.2 Gross profit 18.3 1
Slide 13: All time high in Net Sales and a reduced loss
All time high in Net Sales and a reduced loss Key Figures 2021 2020 2019 SEK m Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Net Sales 54.9 51.8 44.8 53.2 48.1 36.2 43.4 46.2 Gross Margin (%) 89.0 89.5 88.6 89.8 91.4 86.7 88.7 88.9 Operating Loss -13.3 -25.9 -19.7 -26.7 -19.2 -23.5 -29.2 -38.6 Cash at period end 225.5 30
Slide 14: Selling expenses growing following a gradual return of sales- and marketing activity
Selling expenses growing following a gradual return of sales- and marketing activity Key Figures 2021 2020 2019 SEK m Q3 Q2 Q1 Q4 Q3 Q2 Q1 Q4 Selling expenses (less 35.5 33.3 31.2 33.9 32.0 23.0 35.0 41.3 commissions) Sales Commissions 10.0 9.3 7.9 8.4 9.2 6.9 7.1 8.0 Research and Development 11.3 1
Slide 15: Clear Corporate Strategy Driving Value Creation
Clear Corporate Strategy Driving Value Creation
Slide 16: Strategic execution and situational adoption
Strategic execution and situational adoption • Agile commercial adaptation, navigating through pandemic hurdles • Strengthened commercial set up to benefit from post-pandemic dynamic: − Solid and continuously growing customer base in US (incl very strong GPO presence) − Dutch sales team established
Slide 17: Q&A
Q&A