Slide 1: Investor Presentation – Full Year 2024 Results
Investor Presentation Full Year 2024 Results August 2024 Treatment focused. Technology driven.
Slide 2: Disclaimer
Disclaimer This document has been prepared as a summary only and does not contain all information about the Company’s assets and liabilities, financial position and performance, profit and losses and the rights and liabilities attaching to the Company’s securities. This document should be read in co
Slide 3: Overview – FY24
Overview – FY24
Slide 4: FY24 result snapshot
FY24 result snapshot Revenue EBITDA1 Net Cash A$91.7m A$0.6m A$16.2m +9.6% vs FY23 vs. guidance of +6-9% growth vs. guidance of A$0.3m – Strengthened balance sheet A$0.8m with debt repaid in full 1 EBITDA does not include AASB16 leases, share/option expenses, unrealised forex gain/(loss) and one-off
Slide 5: Building the foundations for profitable growth
Building the foundations for profitable growth 3-year priorities FY25 Jan 2024 – Jun 2024 Sustainable growth Execution and and innovation delivery Reset • Return to double digit revenue growth • Earnings growth • 10%+ EBITDA1 margins • Operating Cash Flow positive • Rest Assure ® launch • New Co-CEO
Slide 6: Overview – FY24
Overview – FY24 1. Financial information 2. Operations update 3. FY25 outlook
Slide 7: Group revenue has grown 9.6% year on year
Group revenue has grown 9.6% year on year Group Revenue & Growth $120m +9.6% $100m Total units sold exceeded 100,000 for the first time in SomnoMed’s history. $80m +12.9% +6.6% $60m Delivered at the top end of guidance with a strong Q4 recovery. $40m Mix of products shifting year on year to the $20m
Slide 8: Total regional revenues
Total regional revenues Europe North America APAC +10.8% $50m $50m $50m $40m $40m $40m +9.0% +5.9% $30m $30m $30m +16.7% $20m $20m +9.1% +8.8% $20m $10m $10m $10m +3.5% +5.1% +1.9% - - - 1H 2H FY 1H 2H FY 1H 2H FY FY23 FY24 FY23 FY24 FY23 FY24 © August 2024 SomnoMed 8
Slide 9: Profit and loss summary
Profit and loss summary A$m FY24 FY23 % Revenue 91.7 83.6 +10% Gross margin 55.1 51.9 +6% Regional sales & marketing expenses (24.5) (24.5) +0% Regional administrative expenses: Regional administrative expenses (16.5) (13.1) +26% • Full year impact of FY23 incremental headcount, rebalanced in Q4 FY2
Slide 10: Balance sheet summary
Balance sheet summary Statement of financial position Statutory Statutory A$m 30 Jun 2024 30 Jun 2023 Cash and cash equivalents 16.2 12.0 Inventories 6.3 4.1 Trade and other receivables 12.4 11.2 Plant and equipment 5.8 6.2 Goodwill & intangibles 20.3 19.0 Right of use asset (AASB16) 5.4 6.5 Deferre
Slide 11: Cash flow summary
Cash flow summary Statement of cash flows Statutory Statutory A$m 30 Jun 2024 30 Jun 2023 EBITDA(1) 0.6 2.1 Movement in working capital & other non-cash (0.9) (2.4) Tax paid (1.1) (1.8) Net finance costs paid (1.9) (1.8) Net cash flow from operating activities (3.3) (3.9) Operating Activities: • $1.
Slide 12: Overview – FY24
Overview – FY24 1. Financial information 2. Operations update 3. FY25 outlook
Slide 13: Capital allocation - our prioritisation framework
Capital allocation - our prioritisation framework Discipline to maximise long-term shareholder value ✓ 1. DEBT REPAYMENT ✓ 2. INVESTMENT FOR GROWTH 22 Near-term investment focused on increasing capacity to deliver 32 continued leadership at scale with 154 sustainable EBITDA margins 100 FY24 and FY25
Slide 14: Rest Assure: FY24 and update on timeline
® Rest Assure : FY24 and update on timeline Submission finalised and initial response received from FDA Response to FDA questions underway and will be delivered within the required timeline of early September 2024 Following FDA response, next steps will be confirmed, with intention to conduct a glob
Slide 15: Overview – FY24
Overview – FY24 1. Financial information 2. Operations update 3. FY25 outlook
Slide 16: FY25 priorities
FY25 priorities People & culture Build a high performing team and culture of improvement Operational Manufacturing facility capacity Customer Improved turnaround times and product innovation Financial Generate positive earnings and positive operating cashflow © August 2024 SomnoMed 16
Slide 17: FY25 guidance
FY25 guidance Revenue EBITDA1 Capex c. A$100m >A$5m A$3-4m vs. $91.7m FY24 vs. $0.6m FY24 1 EBITDA excludes AASB16 leases, share/option expenses, unrealised forex gain/(loss) and one-off expenses © August 2024 SomnoMed 17
Slide 18: Appendix: Underlying EBITDA reconciliation
Appendix: Underlying EBITDA reconciliation Underlying EBITDA reconciliation A$m FY25 Guidance FY24 FY23 FY22 FY21 EBITDA (as reported)1 >5.0 0.6 2.1 1.3 3.9 AASB16 leases (2.3) (2.3) (2.2) (1.8) (1.6) Underlying EBITDA2 >3.0 (1.7) (0.1) (0.5) 2.3 1 EBITDA excludes AASB16 leases, share/option expense
Slide 19: For further information please contact:
For further information please contact: Investor Relations: IR@somnomed.com.au © August 2024 SomnoMed 19