Tristel PLC · LSE:TSTL
Tristel — Investor Presentation (July 2019)
26 slides from Tristel's investor presentation, Jul 23, 2019
Slide 1: Investor Open Day
23 JULY 2019 INVESTOR OPEN DAY CEO PAUL SWINNEY CFO LIZ DIXON
Slide 2: The World of Infection Prevention
The World of Infection Prevention Medical Devices Skin Surfaces Water 2
Slide 3: The World of Chlorine Dioxide
The World of Chlorine Dioxide Commodity Proprietary Formulation Low Concentration High Concentration Suitable For Industrial Applications: Suitable For Speciality Applications: Paper Bleaching Medical Devices Water Disinfection Surfaces 3
Slide 4: How Do We Make Chlorine Dioxide
How Do We Make Chlorine Dioxide Citric Acid Sodium Chlorine Sodium Salt Chlorite Dioxide Citrate 4
Slide 5: Multiple User Sites in Hospitals Worldwide
Multiple User Sites in Hospitals Worldwide Device: Nasendoscope Diagnosis: Cleft Palate Department: Ear, Nose & Throat Device: Endocavity Probe Diagnosis: Endometriosis Department: Ultrasound Device: Laryngoscope Purpose: Intubation Department: Accident & Emergency 5
Slide 6: Regulation Drives Demand
Regulation Drives Demand Semi-Critical Invasive Device Classification High-level Disinfection 6
Slide 7: Tristel's Chlorine Dioxide
Tristel’s Chlorine Dioxide ClO2 Medical Medical devices ClO2 (Core) Non ClO2 (Non-core) Devices £22.7m £3.3m OtherOther ClO2 £2.2m £20.5m 7
Slide 8: Sales Growth: Core vs Non-Core
Sales Growth: Core vs Non-Core £30,000,000 CORE £25,000,000 + 24% ClO2 Medical Devices ClO2 Other £20,000,000 NON-CORE £15,000,000 Non ClO2 £10,000,000 £5,000,000 + 11% - 5% £0 2015-16 2016-17 2017-18 2018-19 8
Slide 9: Intellectual property protection
Intellectual property protection Manufacturers Compatibility (55) Individual Device Compatibility (1,845) Published Papers (29) Guidelines (19) Patents (6) Families (233) Grants (66) Applications In Progress Proprietary Formulation 9
Slide 10: The Key Dynamics of The Business
The Key Dynamics of The Business + International: growing fast (2019: +25%) + Medical devices (ClO2): growing fast (2019: +24%) + Surfaces (ClO2): picking up pace (2019: +11%) - Growth held back by declining non-core sales (2019: -5%) 10
Slide 11: Total Sales Growth History
Total Sales Growth History CAGR 17% £30,000,000 £25,000,000 £20,000,000 £15,000,000 £10,000,000 £5,000,000 £0 11
Slide 12: Total Sales Growth History
Total Sales Growth History £30,000,000 UK sales International sales £25,000,000 £20,000,000 £15,000,000 £10,000,000 £5,000,000 £0 12
Slide 13: International Sales Growth History
International Sales Growth History CAGR 53% £16,000,000 £14,000,000 £12,000,000 £10,000,000 £8,000,000 £6,000,000 £4,000,000 £2,000,000 £0 13
Slide 14: International Sales Growth History
International Sales Growth History £16,000,000 Distributors Europe Direct Asia Pacific Direct £14,000,000 £12,000,000 £10,000,000 £8,000,000 £6,000,000 £4,000,000 £2,000,000 £0 14
Slide 15: Global Distributors
Global Distributors 15
Slide 16: Global Subsidiaries
Global Subsidiaries Active Approvals in process 16
Slide 17: ClO2 Medical Devices
ClO2 Medical Devices CAGR 39% £25,000,000 £20,000,000 £15,000,000 £10,000,000 £5,000,000 £0 17
Slide 18: Sales Performance Vs Target 2016-2019
Sales Performance Vs Target 2016-2019 £27,000,000 £25,000,000 15% £23,000,000 10% 15% £21,000,000 10% 15% £19,000,000 10% £17,000,000 £15,000,000 2015-16 2016-17 2017-18 2018-19 Sales actual 18
Slide 19: Profitability Target 2016-2019
Profitability Target 2016-2019 Targeted PBT* margin: 17.5% Actual PBT* margin: 2016-17 20% 2017-18 21% 2018-19 21% **before share based payments and after expensing USA regulatory costs 19
Slide 20: Profit
Profit* £8,000,000 £7,000,000 £6,000,000 £5,000,000 £4,000,000 £3,000,000 £2,000,000 £1,000,000 £0 2015-16 2016-17 2017-18 2018-19 Adjusted PBT Brokers forecast *before tax and share based payments 20
Slide 21: Cash 2017-2019
Cash 2017-2019 Cash generated: £19m Cash utilisation: Investments & acquisitions £9m Capital expenditure £2m Dividends £7m Working capital & tax £3m Net cash reduction: £2m 21
Slide 22: 2019 Achievements
2019 Achievements A high growth, broadly based business. Three year financial targets beaten. Surplus cash re-invested into sales and profit growth. 22
Slide 23: Major Initiatives
Major Initiatives United States Surfaces Point of Care Julija Shabanova Elanor Dixon Ultrasound (POCUS) Bart Leemans Women’s Health 3T Crystel Danielle Smith Esther Jansen Rob Lewis 23
Slide 24: United States
United States Semi-critical devices High- level disinfectant DeNovo pathway Usability and human factors study: Pre-submission review underway Focus on Ultrasound Spend to date £1.5m 24
Slide 25: Thank you Q&A
Thank you Q&A 25
Slide 26: Tristel
Tristel WE HAVE CHEMISTRY.