Diasorin S.p.a. · MIL:DIA
Diasorin — Q1 2021 Earnings Presentation
15 slides from Diasorin's earnings presentation, May 14, 2021
Slide 1: Q1 2021 Results
Q1 2021 RESULTS May 14, 2021
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: Forward-looking statements
Forward-looking statements This document contains forward-looking statements, including within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. We intend the forward-looking statements contained in this document to be covered
Slide 4: Financial Highlights
Financial Highlights Change Data in €/mln Q1’21 @ current @ CER Revenues 266.7 +52.7% +59.5% CLIA ex Vitamin D +34.0% +38.2% Vitamin D -10.7% -6.2% ELISA tests -34.3% -31.5% Molecular tests +270.4% +292.9% Instruments & Others +33.6% +38.9% Adjusted EBITDA* 129.6 +101.0% +110.4% Adjusted EBITDA Marg
Slide 5: Immunodiagnostics Q1 2021 key facts
Q1 2021 key facts Immunodiagnostic Installed Base Product Development • LIAISON® SARS-CoV-2 TrimericS IgG: a quantitative test for the determination @ March 31, 2021 of IgG antibodies, developed using the full length SARS-CoV-2 Spike protein in its New placements of Liaison XL +183 Trimeric form (CE
Slide 6: Managerial outlook on Q1 2021 revenues
Managerial outlook on Q1 2021 revenues Total Group revenues (data in €/mln) Evolution of the business in the quarter Data @CER Data @CUR Positive results, driven by two separate trends: +59% +53% • BUSINESS EX-COVID: on a strong recovery path, in line with Q1’20 business ex-COVID and growing approxi
Slide 7: Q1 2021 revenue growth by geography and technology
Q1 2021 revenue growth by geography and technology BY GEOGRAPHY Q1’21 vs. Q1’20 BY TECHNOLOGY Q1’21 vs. Q1’20 EUROPE & AFRICA • Positive top line trend, thanks to the contribution of COVID-19 testing reported +34.0% and the recovery of ex-COVID sales +39.7% CLIA EX VITAMIN D TESTS @ CER +38.2% CLIA
Slide 8: Q1 2021 revenues breakdown @ current exchange rate
Q1 2021 revenues breakdown @ current exchange rate BY GEOGRAPHY BY TECHNOLOGY Instruments & other revenues Q1’20 9.4% Q1'20 USA & Canada Molecular diagnostic tests 31.8% 14.0% Europe & Africa CLIA tests 51.3% ELISA tests 64.6% 11.9% Asia Pacific 11.6% Latin America 5.4% Instruments & other revenues
Slide 9: Q1'21 profitability profile
Q1’21 profitability profile DATA IN €/MLN Q1'20 Q1'21 Change % GROSS PROFIT 120.7 185.1 +53.4% ADJUSTED EBITDA* 64.5 129.6 101.0% @ CER +110.4% ADJUSTED EBITDA MARGIN 36.9% 48.6% +1,166 bps Q1’21 increase in profitability is mainly driven by: @CER 48.7% +1,179 bps Strong operating leverage, driven
Slide 10: Company Guidance
Company Guidance 2021 FULL YEAR GUIDANCE at CER REVENUES: growth between 15% and 25%, with EX-COVID BUSINESS REVENUES increasing by approx. 15% ADJUSTED EBITDA(*) MARGIN: between 44% and 47% The wide range on Revenues is due to the uncertainty in forecasting COVID tests’ sales, following the:
Slide 11: Financial schemes
Financial schemes 11
Slide 12: Income Statement
Income Statement Q1 Change (Amounts in million of euros) 2020 2021 amount % Net Revenues 174.6 266.7 +92.1 +52.7% Cost of sales (54.0) (81.5) -27.6 +51.1% Gross profit 120.7 185.1 +64.5 +53.4% 69.1% 69.4% +0.3% Total operating expenses (65.6) (67.7) -2.1 +3.3% 37.6% 25.4% -12.2% Other operating inco
Slide 13: Balance Sheet
Balance Sheet (Amounts in million of euros) 12/31/2020 03/31/2021 Change Goodwill and intangibles assets 356.7 370.1 +13.3 Property, plant and equipment 140.5 149.7 +9.3 Net working capital 217.9 210.0 -7.9 Other non-current assets / (liabilities) (64.2) (59.8) +4.4 Net Invested Capital 651.0 670.0
Slide 14: Cash flow statement
Cash flow statement Q1 (Amounts in million of euros) 2020 2021 Cash and cash equivalents at the beginning of the period 157.6 339.9 Cash provided by operating activities 55.8 101.8 Cash used in investing activities (16.0) (23.0) Cash provided/(used) in financing activities (0.7) 11.3 Acquisitions of
Slide 15: DiaSorin
DiaSorin