Trendlines Group Ltd. · SGX:42T
Trendlines — The Trendlines Group — H1 2023 Earnings Presentation
29 slides from Trendlines's earnings presentation, August 2023
Slide 1: Investing to improve the human condition: Food and Health
Investing to improve the human condition Food and Health Steve Rhodes Todd Dollinger Haim Brosh Chair and CEO Chair and CEO CFO H1 2023
Slide 2: Legal disclaimer
Legal disclaimer Important notice This presentation is for informational purposes only and does not constitute or form any part of any offer for sale or subscription of, or solicitation of, any offer to buy or subscribe for any securities of The Trendlines Group Ltd. (“Company”) or any of its portfo
Slide 3: Agenda
Agenda • Who we are • H1 2023 selected achievements • Overview of portfolio • Portfolio valuation information • H1 2023 financial sum-up • Eric Loh, CEO Trendlines Medical Singapore • AgriVest • Q&A
Slide 4: We invest in agrifood and medical tech innovation to improve the human condition
We invest in agrifood and medical tech innovation to improve the human condition 16 years’ investment 54* portfolio 20 advanced-stage 10 exits and company companies companies building experience * including consolidated portfolio companies 9.7X return and 175% IRR on exits Equity US$104 million (30.
Slide 5: Half year overview
Half year overview Turnaround in P&L Portfolio value Strategic and growth in growth transformation plan balance sheet for H1 continues yields positive 2023 results ✓ 12.5% increase in IFRS ✓ Operating, General & ✓ Net profit US$4.3 Administrative expenses portfolio value to million US$101.1 million
Slide 6: H1 2023 portfolio achievements
H1 2023 portfolio achievements 6
Slide 7: Selected 2023 achievements
Selected 2023 achievements Selected raises Strategic collaborations Regulatory Clinical & field trials FDA clearance €5.5 million EIC funding FDA clearance S$1.4 million FDA clearance for US$2 million 2nd gen device 7
Slide 8: A taste of our portfolio
A taste of our portfolio. “s: trendlines
Slide 9: Some portfolio stats
Some portfolio stats 54* 17 20 8 portfolio revenue-stage companies with consolidated companies companies strategic portfolio partnerships companies 20 34 agrifood medtech * including 8 consolidated portfolio companies Total portfolio book value (IFRS) US$101.1 million Non-IFRS portfolio value US$152
Slide 10: Nonsurgical prolapse repair device
Nonsurgical prolapse repair device Minimally invasive, nonsurgical, incision-free and mesh-free repair device to treat pelvic organ prolapse (POP) in the ambulatory or office-based settings. Founded 2014 Achievements CEO • Received FDA clearance Edit Goldberg • Successful completion of 1-year follow
Slide 11: 4 more leading medtech companies
4 more leading medtech companies 34 medtech portfolio companies Meniscus repair system Cryotherapy for treatment Next-generation aspiration A small, game-changing • FDA and CE clearance of superficial bladder cancer catheter for treating ischemic device to prevent preterm birth. stroke. • Launched i
Slide 12: The natural food color revolution
The natural food color revolution A broad-spectrum of healthy plant-based colors produced via Founded 2018; fermentation technology, using baker’s yeast as a biofactory. 23 employees; Phytolon’s high-quality and cost-effective pigments offer value Yokne’am Illit, IL for consumers, the environment an
Slide 13: 4 more agrifood frontrunners
4 more agrifood frontrunners 20 agrifood portfolio companies Biological, Technology platform for Artificial intelligence Orally-administered disease environmentally friendly harvesting greenhouse analytics employing drones prevention for shrimp and technology to control tomatoes for user-generated d
Slide 14: Let's look at the numbers
Let’s look at the numbers. “s: trendlines
Slide 15: IFRS portfolio value
IFRS portfolio value 160 US$ millions 140 Portfolio value (w/o 8 consolidated companies) 120 Cumulative exit proceeds 100 80 60 40 20 0 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 H1 2023 15
Slide 16: Portfolio cluster values
Portfolio cluster values Non-IFRS Value Fair Value of Trendlines’ Share To better evaluate our portfolio, we divided Cluster of Trendlines’ (additional Share (US$'000) information) it into 12 “clusters”, based on their activities. (US$'000) Aquaculture & Animal Health US$5,488 US$8,796 Here is the t
Slide 17: Book value vs. exit value
Book value vs. exit value US$ millions 60 50 40 30 4.4X is the increase in value 20 of our ten exits, compared to 10 their pre-exit book value. 0 Trendlines’ pre-exit book value Trendlines’ book value at exit 17
Slide 18: H1 2023: Key Financial Metrics
H1 2023: Key Financial Metrics 30 June 2023 31 December 2022 Portfolio value: US$101.1 million US$89.8 million Total Equity: US$104.1 million US$95.9 million NAV per share: US$0.11 (S$0.15*) US$0.11 (S$0.15*) Net profit/(loss) US$4.3 million profit vs (US$11.9) million loss in H1 2022 * exchange rat
Slide 19: Consolidated balance sheet
Consolidated balance sheet Assets (US$’000) (US$’000) Current assets 30 June 2023 31 December 2022 Non-current assets 30 June 2023 31 December 2022 Cash and cash Investments in portfolio 4,574 4,565 101,031 89,777 equivalents companies Short-term bank Accounts and other 2,156 2,092 57 1,489 deposits
Slide 20: Consolidated balance sheet (contd.)
Consolidated balance sheet (contd.) Liabilities (US$’000) (US$’000) Current liabilities 30 June 2023 31 Dec 2022 Long-Term liabilities 30 June 2023 31 Dec 2022 Lease liability 352 419 Loans from the Israel 2,785 2,469 Innovation Authority Short-term loan 292 292 Deferred revenues 331 888 Trade and o
Slide 21: Consolidated report of income
Consolidated report of income Statements of profit or loss (US$’000) Income 30 June 2023 30 June 2022 Gain/(Loss) from change in fair value of investments in portfolio companies 9,192 (7,442) Income from services to portfolio companies 1,723 1,257 Income from contracted R&D services 371 390 Financia
Slide 22: Consolidated report of income (contd.)
Consolidated report of income (contd.) Consolidated statements of profit or loss (US$’000) Expenses H1 2023 H1 2022 Operating, general and administrative expenses 4,430 5,020 Marketing expenses 134 167 R&D expenses, net 999 1,164 Financial expenses 1,471 2,287 Total expenses 7,034 8,638 Gain/(loss)
Slide 23: Trendlines Medical Singapore
Trendlines Medical Singapore • Establishment of Trendlines Singapore Medical - 2017 • Eight portfolio companies • Partnerships • NICE Surgical
Slide 24: Driving Natural Orifice Specimen Extraction to reality
Driving Natural Orifice Specimen Extraction to reality • Purse-string-stapler-cutter • Extraction device: Safe device: All-in-one device and easy resected enables stapling, purse specimen extraction string suture, and tissue through anal canal resection Low anterior anastomosis
Slide 25: AgriVest 2023
AgriVest 2023 6 Nov 2023 Tel Aviv www.agrivestisrael.com
Slide 26: Q&A
Q&A. “s: trendlines
Slide 27: Investing to improve the human condition
Investing to improve the human condition SGX: 42T Steve Rhodes, Chair and CEO OTCQX: TRNLY steve@trendlines.com +972.72.260.7000 Todd Dollinger, Chair and CEO www.trendlines.com todd@trendlines.com Haim Brosh, CFO August 2023 haim@trendlines.com
Slide 28: Notes and Disclaimer
Notes and Disclaimer The additional information (Non-IFRS value) which, as stated, differs from the IFRS fair value at which we carry these investments on our balance sheet, were calculated on the basis of recent portfolio company transactions (last 12 months), as follows: 1. In cases where the last
Slide 29: General Announcement: Earnings Call Presentation
GENERAL ANNOUNCEMENT::EARNINGS CALL PRESENTATION Issuer & Securities Issuer/ Manager THE TRENDLINES GROUP LTD. Securities THE TRENDLINES GROUP LTD. - 1L0011328858 - 42T Stapled Security No Announcement Details Announcement Title General Announcement Date &Time of Broadcast 13-Aug-2023 16:49:47 Statu