Slide 1: FY 2017 Results
FY 2017 Results DIASORIN SPA March 7, 2018
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: Agenda
4 Highlights FY 2017 Guidance achieved FY 2017 Main Topics Revenues Installed Base Expansion Profitability Profile 14 Business and Product Development 16 FY 2018 Company Guidance 19 Annexes 3
Slide 4: Highlights
Highlights
Slide 5: FY’17 guidance achieved
FY’17 guidance achieved FY 2017 Guidance DID NOT include 2 elements with opposite impact on the P&L: positive contribution from the acquired Siemens’ ELISA business (from Sept 29, 2017) both at Revenues and EBITDA level one--off costs related to the Irish manufacturing facility closing, which affect
Slide 6: FY’17 main topics
FY’17 main topics FY’17 PLACEMENTS FY’17 @ Dec 31, 2017 REVENUES €/mln 637.5 +12.0% @ CER +13.1% LIAISON XL +655 3,518 CLIA ex Vitamin D 25 OH +10.6% @ CER +11.4% LIAISON -119 3,880 Vitamin D 25 OH (CLIA) -1.4% @ CER -0.3% ELISA +10.0% @ CER +10.7% TOTAL +536 7,398 Molecular tests +79.5% @ CER +82.7
Slide 7: FY’17 Revenues bridge
FY’17 Revenues bridge DATA IN €/MLN +11.5% +13.1% +12.0% 9.0 65.4 (6.2) 637.5 569.3 2016 Revenues* Siemens ELISA FOREX 2017 business * @ guidance consolidation perimeter (including DiaSorin Molecular contribution and excluding Siemens’ ELISA business contribution) FY 2017 Results Presentation 7
Slide 8: Q4’17 and FY’17 Revenues
Q4’17 and FY’17 Revenues Q4’17 FY’17 vs. vs. Q4’16 FY’16 Growth driven by all CLIA tests, net of Vitamin D 25 OH, with particular evidence on: • Infectious Diseases • Hepatitis @ current +8.2% +12.0% • Torch • Gastro-Intestinal Testing • Vitamin D 1,25 Revenues Siemens’ Elisa business acquisition co
Slide 9: Q4’17 and FY’17 Revenues: breakdown by technology
Q4’17 and FY’17 Revenues: breakdown by technology Q4’17 FY’17 vs. vs. Q4’16 FY’16 @ current +7.2% +10.6% CLIA ex Vitamin D 25 OH tests @ CER +10.1% +11.4% CLIA @ current -2.9% -1.4% Vitamin D 25 OH test (CLIA) @ CER +2.9% -0.3% @ current +30.5% +10.0% ELISA tests @ CER +34.5% +10.7% @ current +7.8%
Slide 10: Q4’17 and FY’17 Revenues: breakdown by geography
Q4’17 and FY’17 Revenues*: breakdown by geography Q4’17 FY’17 Q4’17 FY’17 vs. vs. vs. vs. Q4’16 FY’16 Q4’16 FY’16 EUROPE & AFRICA +17.2% +11.3% ASIA PACIFIC +11.9% +9.2% Germany +21.9% +11.8% China +4.6% +15.5% Increase in Gastro-Intestinal Testing and Vitamin D 1,25. Positive contribution from Siem
Slide 11: FY’17 Revenues Breakdown
FY’17 Revenues Breakdown BY GEOGRAPHY BY TECHNOLOGY Instruments, consumables & others: FY’16 FY’16 11.4% North America: Molecular tests: 29.3% 5.6% Europe and Africa: 44.0% ELISA tests: 13.5% CLIA tests: 69.5% Asia Pacific: 19.2% Central and South America: 7.5% Instruments, consumables & others: FY’
Slide 12: Installed base expansion
Installed base expansion +536 7,398 7,305 7,197 7,035 6,862 2,863 3,048 3,233 3,382 3,518 +185 +185 +149 +136 LAS -12 -23 -41 -43 3,999 3,987 3,964 3,923 3,880 2016 Q1’17 H1’17 9M’17 2017 FY 2017 Results Presentation 12
Slide 13: FY’17 EBITDA bridge
FY’17 EBITDA bridge + 13.0% 4.3 + 11.0% 3.3 245.5 GROWTH % +9.5% VS. 2016 241.2 EBITDA IN €/MLN 237.9 2017 (+) Siemens ELISA business 2017 Adj. FOREX 2017 Adj. @ CER (-) one-off costs for Irish Plant divestiture EBITDA MARGIN +37.3% +38.4%(*) +38.7%(*) (*) on Group revenues, net of Siemens % ELISA b
Slide 14: Business Development
Business Development
Slide 15: Business and product development
Business and product development PORTFOLIO NEW PRODUCT PARTNERSHIPS NEW PLATFORMS DEVELOPMENT ACQUISITION CO-DEVELOPMENT in China in the US Rationale Increase Increase Launch Hepatitis & Market share: New market Access to new mkt Extraction for penetration penetration Retroviruses conversion from op
Slide 16: FY 2018 Company Guidance
FY 2018 Company Guidance
Slide 17: FY 2018 Company Guidance
FY 2018 Company Guidance Revenues Growth equal to around +11% @ CER compared with 2017 (*) EBITDA Growth equal to around +13% @ CER compared with 2017 (*) (*) 2017 €/US$ exchange rate: 1.13 FY 2017 Results Presentation 17
Slide 18: 2017-2019 guidance and strategic goals
2017-2019 guidance 2017-2019 STRATEGIC GOALS ACTUAL RESULTS GUIDANCE DATA IN €/MLN DATA IN €/MLN 2016 2017 2018 2019 Solid growth of Immunoassay franchise with addition of 1 innovative and differentiating new products REVENUES 637.5 3-years plan Launch of LIAISON XS allows penetration of the small 2
Slide 19: Annexes
Annexes
Slide 20: FY’17 results: Income Statement
FY’17 results: Income Statement Change Data in € million 2016 2017 am ount % Ne t re venue s 569.3 637.5 +68.2 +12.0% Gros s profit 389.2 431.9 +42.7 +11.0% Gross Margin 68.4% 67.7% -61 bps S&M (109.5) (123.2) -13.7 +12.5% R&D (37.7) (43.6) -5.9 +15.7% G&A (60.0) (64.7) -4.6 +7.7% Total ope rating e
Slide 21: FY’17 results: Balance Sheet
FY’17 results: Balance Sheet Data in € million 12/ 31/ 2016 12/ 31/ 2017 Change Goodwill and intangibles assets 357.1 344.4 -12.7 Property, plant and equipment 92.1 92.3 +0.2 Other non-current assets 24.0 23.8 -0.2 Net working capital 165.0 190.7 +25.7 Assets held f or sale - 4.0 +4.0 Other non-curr
Slide 22: FY’17 results: Cash Flow Statement
FY’17 results: Cash Flow Statement Data in € million 2016 2017 Change Cash and cash equivalents at the beginning of the period 212.2 130.5 -81.7 Cash provided by operating activities 165.6 167.4 +1.8 Cash used in investing activities (34.9) (38.0) -3.1 Cash provided/ (used) in f inancing activities
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