Medios Ag · XETR:ILM1
Medios — H1 2020 Earnings Presentation
21 slides from Medios's earnings presentation, Aug 25, 2020
Slide 1: Medios H1 2020 Results
Medios H1 2020 Results Matthias Gaertner, CFO 25 August 2020
Slide 2: Disclaimer
Disclaimer This presentation has been produced by Medios AG (the „Company“). The facts and The forward-looking statements, including but not limited to assumptions, opinions and information contained herein are as up to date as is reasonably possible and are subject views of the Company or informati
Slide 3: Agenda
Agenda • Executive summary Financial Overview Guidance 2020 Appendix
Slide 4: Highlights first months 2020 – Growth strategy on track
Highlights first months 2020 – Growth strategy on track Growth strategy on track • Pharmaceutical Supply: • continues to be a clear growth driver • however, growth weakened at lower margins as a result of the COVID-19 pandemic • Patient-specific Therapies: OPERATIONS • performance on track • acquisi
Slide 5: H1 2020: Overview Key Figures
H1 2020: Overview Key Figures Revenue €m EBITDA pre* €m EBT pre* €m Comments • H1 2020 affected by COVID-19-related effects • Revenue increase mainly driven by wholesale business • Operating results impacted by procurement issues 7.7 292.9 6.5 6.8 228.5 4.9 H1 2019 H1 2020 H1 2019 H1 2020 H1 2019 H1
Slide 6: COVID-19 pandemic–related special effects led to supply bottlenecks and weaker margins
COVID-19 pandemic–related special effects led to supply bottlenecks and weaker margins Previous assumptions (communicated in May) Current assumptions (communicated in Aug) Corona-related effects limited to Q1 20 Corona-related effects will persist in H2 • March: implementation of a quota directive f
Slide 7: Business model intact: Proven growth strategy in place with growth prospects
Business model intact: Proven growth strategy in place with growth prospects VERTICAL GROWTH DRIVER HORIZONTAL GROWTH DRIVER PROFITABILITY DRIVER Grow customer base and Extend product range and expand to partner network further indication areas Leverage economies of scale • Currently >300 pharmacies
Slide 8: Agenda
Agenda Executive summary • Financial Overview Guidance 2020 Appendix 8
Slide 9: H1 2020: Financials
H1 2020: Financials In € million H1 2020 H1 2019 ∆% Comments Revenue 292.9 228.5 28.2 • Strong revenue growth, Pharma- ceutical Supply key contributor (for the COGS* 275.4 214.0 28.7 first time Kölsche Blister included with ratio in % of revenue 94.0% 93.6% €1.9m revenue) Personnel expenses 6.8 4.9
Slide 10: Segments – Growth driven by wholesale business
Segments – Growth driven by wholesale business Patient-specific Internal Services and Pharmaceutical Supply Group Therapies IFRS consolidation In € million H1 2020 H1 2019 H1 2020 H1 2019 H1 2020 H1 2019 H1 2020 H1 2019 Revenue (external) 262.1 204.3 30.6 24.2 0.2 0.1 292.9 228.5 Delta (y-o-y in %)
Slide 11: Financing Power – Strong financial position to invest in future growth
Financing Power – Strong financial position to invest in future growth As of 21 Aug In € million Comments Syndicated loan 62.5 Organic growth • High single-digit million € range to Thereof called/drawn -1.5 be invested in own labs External growth Liquidity 60.0 • M&A strategy: focus on Total liquidi
Slide 12: Medios is playing an active role in the ongoing consolidation process
Medios is playing an active role in the ongoing consolidation process TYPES OF POTENTIAL TARGET COMPANIES RECENT M&A TRACK RECORD Acquisition of Kölsche Blister in April 2020 1 2 3 Headquartered in Cologne, Germany Premium Premium Innovation / with activities across Germany patient-specific pharmace
Slide 13: Agenda
Agenda Executive summary Financial Overview • Guidance 2020 Appendix 13
Slide 14: Updated guidance for 2020 as a result of ongoing COVID-19-related effects
Updated guidance for 2020 as a result of ongoing COVID-19-related effects In € million Outlook as at Feb 2020 Outlook as at Aug 2020 Group revenue 610–670 610–630 Adj. EBITDA* 19.5–22.5 14.0–15.0 Adj. EBT* 17.5–20.5 11.5–12.5 Adj. EBT* margin (in %) 2.9%–3.1% 1.9%–2.0% Reach the 1 billion € revenue
Slide 15: Proven financial track with strong profitable growth
Proven financial track with strong profitable growth Medios Group IFRS 2015*1 2016*1 2017*2 2018*2 2019*2 2020E*2, 4 2023E 1,000 Pharmaceutical Supply Patient–specific Therapies 610-630 517 10% 328 254 12% 160 17% 90% 90 25% 88% 38% 83% Revenue in € m 75% 62% Pharmaceutical Supply Patient–specific T
Slide 16: Appendix
OS AG Appendix PHARMA SOLUTIONS - 1 E * | s > rf
Slide 17: Consolidated statement of comprehensive income H1 2020
Consolidated statement of comprehensive income H1 2020 impacted by COVID-19 pandemic and additional one-time effects In € thousand 01/01-30/06/2020 01/01-30/06/2019 01/04-30/06/2020 01/04-30/06/2019 Revenue 292,884 228,506 130,050 121,496 Change in stocks of finished goods and work-in- 13 21 -17 -47
Slide 18: Consolidated Balance Sheets H1 2020
Consolidated Balance Sheets H1 2020 ASSETS LIABILITIES In € thousand 30/06/2020 31/12/2019 In € thousand 30/06/2020 31/12/2019 Equity Non-current assets 45,594 37,136 Subscribed capital 16,085 14,564 Intangible assets 34,122 31,260 Capital reserves 103,652 51,273 Accumulated Group Result 18,958 15,7
Slide 19: Consolidated cash flow statement H1 2020
Consolidated cash flow statement H1 2020 In € thousand 01/01-30/06/2020 01/01-30/06/2019 01/04-30/06/2020 01/04-30/06/2019 Cash flow from operating activities Net income for the year 3,169 3,971 859 2,079 Depreciation and amortization on non-current assets 1,622 1,104 995 606 Decrease/increase in pr
Slide 20: Financial calendar
Financial calendar Date Event 25 August 2020 H1 2020 Reporting 26 October 2020 Annual General Meeting 12 November 2020 Q3/9M 2020 Reporting 20
Slide 21: Medios H1 2020 Results
Medios H1 2020 Results Matthias Gaertner, CFO 25 August 2020