Slide 1: FY 2014 Results conference call
FY 2014 Results conference call
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: Overview
Overview Highlights 2014 Main Topics Revenues Revenues: breakdown by technology Revenues: breakdown by geography Installed base expansion Profitability profile Business Development Products Development FY 2014 Financials FY 2015 Company Guidance Save the date: DiaSorin Investor Day 2015 3
Slide 4: 2014 Main Topics
2014 Main Topics Revenues: growing at +2.8% at CER: Liaison & Liaison XL placements CLIA ex-Vit D revenues : +17.0% at CER Ongoing worldwide success of Liaison XL and • Growth in all clinical areas due to new products launched in 2014, confirmation of interest on Liaison CLIA menu expansion, contrib
Slide 5: Revenues
Revenues Q4’14 FY’14 vs. vs. Q4’13 FY’13 @ current +6.4% +2.1% • Excellent performance of CLIA ex Vitamin D sales (+ 17.0% at CER vs. 2013) in all clinical areas (Infectivity, Hepatitis and Endocrinology) SALES • Growth of recently introduced products on the market (Infectivity Gastrointestinal and
Slide 6: Revenues: Breakdown by Technology
Revenues: Breakdown by Technology Q4’14 FY’14 vs. vs. Q4’13 FY’13 • Growth of Infectious Diseases, Torch, Hepatitis and @ current +17.1% +16.2% Endocrinology tests. CLIA ex Vit D • Increase of Stool testing (Germany, Spain and Italy) • Strong start of Vit D 1,25 @ CER +15.7% +17.0% • Positive contri
Slide 7: Revenues by Geography (YoY and QoQ comparison)
Revenues by Geography (YoY and QoQ comparison) Europe North America Vit D +4.5% +4.9% +3.7% -0.9% -7.7% -12.1% Q4’14 FY’14 Q4’14 FY’14 Q4’14 FY’14 France Germany -10.8% -8.8% +13.9% +14.4% CLIA ex Vit D Q4’14 FY’14 Q4’14 FY’14 +77.1% +77.2% Italy +3.3% +4.9% Q4’14 FY’14 Q4’14 FY’14 Apac +11.1% +9.3%
Slide 8: Revenues: Breakdown by Geography (1 of 2)
Revenues: Breakdown by Geography (1 of 2) Q4’14 vs. FY’14 vs. Q4’14 vs. FY’14 vs. Q4’13 FY’13 Q4’13 FY’13 Europe +4.5% +4.9% Germany +13.9% +14.4% • Solid and continuous growth on all CLIA products • Good performance of Stool testing and Vitamin D 1,25 • Strong growth of CLIA ex Vitamin D sales Fran
Slide 9: Revenues: Breakdown by Geography (2 of 2)
Revenues: Breakdown by Geography (2 of 2) Q4’14 vs. FY’14 vs. Q4’43 vs. FY’14 vs. Q4’13 FY’13 Q4’13 FY’13 • Sales growth achieved on all CLIA products (+10.3%) Apac +11.1% +9.3% China +12.4% +10.8% and on Murex products (+6.8%) • +99 new LIAISON XL in FY’14, reaching a total number of 124 units in t
Slide 10: Installed Base Expansion
Installed Base Expansion Total units Net placements in Total units at at December 31, 2013 2014 December 31, 2014 4,197 +10 4,207 1,075 +590 1,665 TOTAL 5,272 +600 5,872 10
Slide 11: Profitability Profile
Profitability Profile Q4’13 Q4’14 FY’13 FY’14 Statutory 36.6% 35.8% -80bps 37.5% 36.1% -140bps EBITDA margin Adjusted 36.6% 36.8%* +20bps 37.5% 36.5%* -100bps *Ex non recurring events, at CER Main effects on FY’14 EBITDA VALUE IN ¤/MLN @current in 2014 FX effect + 0.7 Costs sustaining Molecular busi
Slide 12: Overview
Overview Highlights 2014 Main Topics Revenues Revenues: breakdown by technology Revenues: breakdown by geography Installed base expansion Profitability profile Business Development Products Development FY 2014 Financials FY 2015 Company Guidance Save the date: DiaSorin Investor Day 2015 12
Slide 13: FY'14 Business Development
FY’14 Business Development 3-year extension of agreement with LabCorp Expansion of Liaison XL menu offering to LabCorp, while maintaining existing Vitamin D business 15 new assays in addition to the current menu for LabCorp, expanding the offering in new clinical areas U.S. market playing a central
Slide 14: Overview
Overview Highlights 2014 Main Topics Revenues Revenues: breakdown by technology Revenues: breakdown by geography Installed base expansion Profitability profile Business Development Products Development FY 2014 Financials FY 2015 Company Guidance Save the date: DiaSorin Investor Day 2015 14
Slide 15: FY'14 Products Development
FY’14 Products Development Expansion of Immunodiagnostics menu with key and unique specialty products + Menu expansion in key markets (USA, China, Brazil) The 5th launch in GI Stool testing area, for the qualitative detection of Rotavirus on stool samples Rotavirus in stool samples The 6th launch in
Slide 16: Overview
Overview Highlights 2014 Main Topics Revenues Revenues: breakdown by technology Revenues: breakdown by geography Installed base expansion Profitability profile Business Development Products Development FY 2014 Financials FY 2015 Company Guidance Save the date: DiaSorin Investor Day 2015 16
Slide 17: FY'14 Results: Income Statement
FY’14 Results: Income Statement €/mln FY Change 2014 2013 Amount % Net revenues 443.8 434.8 +8.9 +2.1% Gross profit 298.7 299.7 -0.9 -0.3% Gross margin 67.3% 68.9% - -1.6% S&M (88.9) (85.6) -3.3 +3.9% R&D (25.0) (23.9) -1.0 +4.4% G&A (50.6) (49.7) -0.9 +1.8% Total operating expenses (164.5) (159.2)
Slide 18: FY'14 Results: Balance Sheet
FY’14 Results: Balance Sheet FY Change in value €/mln 12/31/2014 12/31/2013 Total intangibile assets 117.0 119.4 -2.5 Total tangibile assets 72.2 66.3 +5.9 Other non-current assets 25.7 23.2 +2.4 Net working capital 142.5 141.7 +0.6 Other non-current liabilities (39.8) (34.4) -5.4 Net capital employ
Slide 19: FY'14 Results: Cash Flow Statement
FY’14 Results: Cash Flow Statement €/mln FY Change in value 2014 2013 Cash and cash equivalents at beginning of the year 105.1 104.6 +0.5 Operating activities 119.8 107.7 +12.1 Investing activities (28.9) (29.9) +1.1 Financing activities (29.4) (77.2) +47.8 Change in net cash and cash equivalents be
Slide 20: Overview
Overview Highlights 2014 Main Topics Revenues Revenues: breakdown by technology Revenues: breakdown by geography Installed base expansion Profitability profile Business Development Products Development FY 2014 Financials FY 2015 Company Guidance Save the date: DiaSorin Investor Day 2015 20
Slide 21: FY 2015 Guidance
FY 2015 Guidance Revenues: Growth between +4% and +5% at CER vs. FY’14 Revenues EBITDA: Growth between +4% and +5% at CER vs. FY’14 EBITDA New systems installed (Liaison + Liaison XL): ~ 550 21
Slide 22: Driving our business through innovation
Driving our business through innovation Investor Day May 12th, 2015 Milan
Slide 23: DiaSorin
DiaSorin ‘The Diagnostic Specialist