Biomerieux Sa · EURONEXT:BIM
Biomerieux Sa — FY2021 Earnings Presentation
23 slides from Biomerieux Sa's earnings presentation, Mar 2, 2022
Slide 1: FY 2021 Results & Outlook
FY 2021 Results & Outlook March 2, 2022 PIONEERING DIAGNOSTICS
Slide 2: Disclaimer
DISCLAIMER • This presentation contains information, assumptions and estimates that were used by the Company to determine its objectives on a reasonable basis. They are subject to change or modification due to economic, financial, medical and competitive uncertainties in markets addressed by bioMéri
Slide 3: Agenda
AGENDA OVERVIEW of FY 2021 ACTIVITY REVIEW FY 2021 FINANCIAL RESULTS 2022 PRIORITIES & OUTLOOK BIOMÉRIEUX 3
Slide 4: Key Highlights
KEY HIGHLIGHTS SALES Contributive EBIT FREE CASH FLOW €3,376m +10.5% €801m €541m at constant exchange rates and scope of consolidation 23.7% of sales vs. €328m in FY 2020 Remarkable commercial & financial performance Strong cash flow generation & positive net cash position Set up of our new CSR v
Slide 5: Syndromic Testing Keeps on Expanding
SYNDROMIC TESTING KEEPS ON EXPANDING +14% FY sales growth Solid growth of all BioFire reagents • BIOFIRE® affirming leadership in syndromic testing, at 1.2 Bn€ sales RP +14% • Strong growth of reagents sales for RP and non-RP +18% • Very high demand of Respiratory Panels in Q4 NON-RP +35% • Solid ex
Slide 6: Microbiology: Steady Growth Showing Resilience Throughout the Pandemic
MICROBIOLOGY: STEADY GROWTH SHOWING RESILIENCE THROUGHOUT THE PANDEMIC +13% FY sales growth • Solid performance of microbiology, both in ID/AST and in Blood culture, growing above pre-pandemic levels • Leveraging offer across portfolio, especially between microbiology and molecular solutions Promisi
Slide 7: Steady Growth on Immunoassays
STEADY GROWTH ON IMMUNOASSAYS +8% FY sales growth • Tailwinds from pandemic: • High demand on assays used to monitor COVID-19 patients • Some volume on SARS-COV-2 serology tests • Headwinds : • Continued competitive pressure in the US on PCT 2021 Launches on VIDAS : • Significant impact on Q4 sales
Slide 8: Robust Growth in Industrial Applications
ROBUST GROWTH IN INDUSTRIAL APPLICATIONS +10% FY sales growth • 2021 Performance led by reagents sales across both market segments, as well as equipment sales in the US and in China • In HealthCare, • Good trend on environment control testing • Positive impact from vaccine manufacturers especially i
Slide 9: Agenda
AGENDA FY 2021 ACTIVITY REVIEW FY 2021 FINANCIAL RESULTS 2022 PRIORITIES & OUTLOOK BIOMÉRIEUX BIOMÉRIEUX
Slide 10: Solid Performance Across All Ranges
SOLID PERFORMANCE ACROSS ALL RANGES 2% MOLECULAR +8% • Syndromic solutions growing at a significant INDUSTRY +10% 38% pace (+14%) • Solid performance in the US & OUS • Robust growth in both Food and 15% Healthcare segments • Non-syndromic molecular down after an GROUP exceptional 2020 €3,376m +10.
Slide 11: FY 2021 Sales by Geography
FY 2021 SALES BY GEOGRAPHY EMEA +11% AMERICAS +9% 33% of sales 49% of sales Europe: • Strong growth of syndromic North America: molecular • Robust growth in syndromic • Solid growth of Microbiology, molecular & microbiology, IA & Industry • Partially compensated by • UK, Italy, Nordics as top PCT lo
Slide 12: FY 2021 P&L: Contributive EBIT Up 36% Like for Like
FY 2021 P&L: CONTRIBUTIVE EBIT UP 36% LIKE FOR LIKE In €m FY % FY % % % sales sales Change Change LFL(1) 2021 2020 Net sales 3,376 3,118 + 8.3% + 10.5% Gross profit 1,964 58.2% 1,754 56.2% + 12.0% + 15.0% SG&A -818 - 24.2% -789 -25.3% + 3.7% + 5.3% R&D -389 - 11.5% -399 -12.8% - 2.5% - 0.7% Contribu
Slide 13: FY 2021 P&L: Contributive Operating Income to EPS
FY 2021 P&L: CONTRIBUTIVE OPERATING INCOME TO EPS In €m FY % FY % % change sales sales as reported 2021 2020 CEBIT 801 23.7% 613 19.6% + 30.8% BioFire acquisition related costs - 17 - 18 Other non-recurring expenses - 42 Operating income 784 23.2% 553 17.7% + 41.9% Net financial expense - 10 - 29 In
Slide 14: FY 2021 Cash Flow Statement
FY 2021 CASH FLOW STATEMENT In €m FY 2021 FY 2020 EBITDA (1) 1,032 824 • EBITDA up 25% and reaching 31% of sales Working capital requirement - 38 - 86 • Working capital -38 M€: Income tax paid & financial charges - 192 - 141 • Inventory: - €62m Other cash flow from operations 29 9 • Payables: +€24m
Slide 15: Main 2021 Capex
MAIN 2021 CAPEX SALT LAKE CITY Office & Manufacturing SUZHOU bioMérieux & Hybiome Manufacturing BIOMÉRIEUX 15
Slide 16: Agenda
AGENDA FY 2021 ACTIVITY REVIEW FY 2021 FINANCIAL RESULTS 2022 PRIORITIES & OUTLOOK BIOMÉRIEUX BIOMÉRIEUX 16
Slide 17: 2022 Company Priorities
2022 COMPANY PRIORITIES GLOBAL LEADER POSITION IN INFECTIOUS DISEASE DIAGNOSTICS & INDUSTRIAL MICROBIOLOGY CONTROL Antimicrobial Business & Syndromic Innovation & CSR Strategy Resistance Financial Testing R&D Implementation (AMR) Performance Education & Expand the Robust Pipeline Clear targets for S
Slide 18: Diagnostic Has a Key Role to Play in Antimicrobial Stewardship
DIAGNOSTIC HAS A KEY ROLE TO PLAY IN ANTIMICROBIAL STEWARDSHIP Antimicrobial Resistance: the Silent Pandemic Diagnostic Partner of Choice in Stewardship AMR HIV or Malaria Our 2022 Priorities • Medical Education to address knowledge & process gap around infectious diseases testing among health care
Slide 19: Expanding Leadership on Syndromic Testing
EXPANDING LEADERSHIP ON SYNDROMIC TESTING NEW BIOFIRE PLATFORM BUILD ON LARGER ADOPTION TARGETING OUT OF BROADENING THE MENU: HOSPITAL NEAR PATIENT JOINT INFECTION PANEL TESTING LOCATIONS LEVERAGING LARGE BIOFIRE ® R/ST PANEL: INSTALLED BASE AND RESPIRATORY AND SORE CUSTOMERS BASE THROAT PANELS RESU
Slide 20: Investing in Innovation Across Portfolio
INVESTING IN INNOVATION ACROSS PORTFOLIO NEW VIDAS PLATFORM • Large menu as Vidas Legacy INDUSTRY 3P: QC Ecosystem For Pharma • Better connectivity & traceability • Launch of plates, software & equipment • Scalable • Digitalization & Automation of the entire Environmental Monitoring process • Addres
Slide 21: Our Main CSR Commitments
OUR MAIN CSR COMMITMENTS HEALTH PLANET HEALTHCARE EMPLOYEES EXTENDED Antimicrobial Resistance Carbon & ECOSYSTEM Safety, COMPANY (AMR) & Stewardship (AMS) environment footprint Stakeholder dialogue Diversity & Inclusion Partners & Communities +30% -50% Collaboration projects with patient association
Slide 22: 2022 Outlook
2022 OUTLOOK GUIDANCE TRENDS • Microbiology Mid-single digit growth • Immunoassays Stable SALES 3.2 to 3.3 Bn€ • Non-RP panels Double digit growth (7%) – (3%) organic • Industry Mid to high single digit • RP panels Covid-related decrease • Upturn in customers facing activities cEBIT 530 M€ – 610 M€
Slide 23: Pioneering Diagnostics
BIOMERIEUX PIONEERING DIAGNOSTICS