Biomerieux Sa · EURONEXT:BIM
Biomerieux Sa — FY2023 Earnings Presentation
22 slides from Biomerieux Sa's earnings presentation, March 2024
Slide 1: FY 2023 Results & Outlook 2024
FY 2023 RESULTS & OUTLOOK 2024 March 2023 PIONEERING DIAGNOSTICS 2023 full year results presentation / B I O M É R I E U X
Slide 2: Agenda
AGENDA 1. 2023 Business highlights Pierre BOULUD 2. 2023 Financial performance & CSR Guillaume BOUHOURS 3. 2024 Business outlook Pierre BOULUD
Slide 3: 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 bioMérieu
Slide 4: 2023 Business highlights
Pierre BOULUD, CEO 2023 Business highlights 2023 full year results presentation / B I O M É R I E U X
Slide 5: 2023 Key highlights
2023 Key highlights SALES CONTRIBUTIVE FREE CASHFLOW €3,675m EBIT +6.6%* €610m €115m Net Debt / EBITDA +11%* excl. RP 16.6% of sales 0,2x ▪ Strong sales dynamic of the main franchises, +11% organic growth excl. BIOFIRE® respiratory panels, above +8 to +10% initial guidance ▪ CEBIT up +2% at CER and
Slide 6: Executing on our BIOFIRE strategy
Executing on our BIOFIRE® strategy €1,338M* Evol. +3% ▪ Pursuing the development of non-respiratory panels Non-RP:+24% through cross-selling RP: -8% • Non-RP panels: +24% growth in 2023 • 75% of customers using at least 2 panels (up +3 pp vs 2022) ▪ IB/Customer expansion: +1,900 installed instrument
Slide 7: BIOFIRE SPOTFIRE: a promising launch
BIOFIRE® SPOTFIRE®: a promising launch ▪ Bringing innovation in the molecular POC* market • Fast: 15 minutes Time To Result • Easy to use: CLIA Waived • Highest coverage: 5-plex & 15-plex ▪ Performance aligned with the plan • ~800 instruments installed since launch (7 months) • Outpatients and IDN/h
Slide 8: Microbiology delivering an exceptional year
MICROBIOLOGY delivering an exceptional year ▪ Remarkable sales growth driven by price increases and €1,267M volumes expansion Evol. +13,7% • Double digit growth in all Regions • Increased awareness around AMR/AMS challenges ▪ Large adoption of VITEK® MS PRIME: 400+ instruments* ▪ Continuous commitme
Slide 9: Immunoassays: back to growth in routine testing
Immunoassays: back to growth in routine testing €373M ▪ VIDAS® : designed to fit the needs of developing settings Evol. -3,0% • Routine parameters growing 6% in 2023 • Successful ramp-up of VIDAS® KUBE new platform: 380* instruments installed as of December 2023 ▪ Focused investment to develop the m
Slide 10: Industrial applications: continued expansion
Industrial applications: continued expansion €575M Evol. +9,0% ▪ Robust sales growth (+9%) in 2023 • Solid inflation pass through to customers • Balanced performance: all regions growing +9% ▪ Pharma Quality Control performance mainly fueled by Cell & Gene Therapies and Bioproduction businesses ▪ Fo
Slide 11: Financial performance
Guillaume BOUHOURS, CFO 2023 Financial performance 2023 full year results presentation / B I O M É R I E U X
Slide 12: A remarkable FY 2023 performance vs high COVID 2022
A remarkable FY 2023 performance vs high COVID 2022 MOLECULAR +3% MICROBIOLOGY +14% ▪ +24% BIOFIRE® non-respiratory ▪ Very strong performance led by panels remarkable growth in all automated ID/AST, Blood panels and regions Culture & Lab efficiency ▪ -8% BIOFIRE® respiratory panels, ▪ Volumes & pric
Slide 13: FY 2023 sales by geography
FY 2023 sales by geography EMEA €1,191m 32% of sales +8.5% AMERICAS ASPAC €1,847m €637m 50% of sales 17% of sales +4.5% +9.2% 2023 full year results presentation / B I O M É R I E U X 13
Slide 14: FY 2023 P&L: Contributive operating income up 2% like-for-like
FY 2023 P&L: Contributive operating income up 2% like-for-like FY % FY % % % In €m sales sales Change Change LFL(1) 2023 2022 Net sales 3,675 3,589 + 2.4% + 6.6% Gross profit 2,057 56.0% 2,009 56.0% + 2.4% + 7.4% SG&A -1,021 - 27.8% -955 -26.6% + 6.9% + 10.0% R&D -460 - 12.5% -447 -12.4% + 3.0% + 3.
Slide 15: FY 2023 P&L: contributive operating income to EPS
FY 2023 P&L: contributive operating income to EPS FY % FY % % change In €m sales sales 2023 2022 as reported CEBIT 610 16.6% 664 18.5% - 8.2% Amortization of acquired intangible - 171 - 77 assets & related expenses Operating income 439 11.9% 587 16.4% -25.2% Net financial expense -2 -7 Income tax (e
Slide 16: FY 2023 Cash Flow statement
FY 2023 Cash Flow statement in €m December 2023 December 2022 Inventory - €193 m, incl. inventory re-build & build up for EBITDA (1) 827 864 new products launches Working capital requirement - 205 - 170 Receivables - €14 m, limited increase thanks to solid cash Tax payment & financial cost - 203 - 2
Slide 17: CSR Roadmap – Overall on track at the end of 2023
CSR ROADMAP – Overall on track at the end of 2023 PLANET HEALTHCARE EMPLOYEES EXTENDED HEALTH ECOSYSTEM COMPANY Collaboration projects ≥1 % +30 % -50 % with patient associations Lost Day Incident Rate of net income Group share patient results1 GHG absolute emissions in 2025 vs. 2021 ÷2 to 0.6 in 202
Slide 18: 2024 outlook
2024 outlook 2023 full year results presentation / B I O M É R I E U X
Slide 19: 2024 Growth Drivers & Trends
2024 Growth Drivers & Trends • Focus on non respiratory panels through cross-selling • Non-RP: ~+15% BIOFIRE® • RP: assuming a medium • Continue expansion out of the US respiratory season in 2024 • Ramp up in the US and globalization outside of the US BIOFIRE® SPOTFIRE® • Expected FDA approval of Re
Slide 20: 2024 Outlook
2024 Outlook GUIDANCE TRENDS +6% to +8% ▪ Non-RP ~+15%, Microbiology ~+8%, Immuno ~0%, Industrial Applications ~+9% SALES ▪ Spotfire: ~€80m Organic, including Respiratory ▪ Respiratory panels: Assuming a medium flu season at the end of 2024 At least +10% ▪ Combination of sales growth & opex manageme
Slide 21: Save the date: April 9th, 2024 Capital Markets Day
TE DA H E A P R I L 9 TH, 2 0 2 4 T SAVE C A P I TA L M A R K E T S D AY 2024 Pierre Boulud, Chief Executive Officer and the Executive Committee are pleased to invite you to bioMérieux' Capital Markets Day. The Executive Committee will give a global update on the business and share bioMerieux' mid-t
Slide 22: Pioneering Diagnostics
BIOMERIEUX PIONEERING DIAGNOSTICS