Slide 1: MicroPort 2016 Earning Release
MicroPort 2016 Earning Release
Slide 2: Disclaimer
Disclaimer This document is for information purposes only and does not constitute or form part of any offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for any securities of MicroPort Scientific Corporation, and no part of it shall form the basis of,
Slide 3: Contents
1. Annual Results Highlights 2. Financial Review 3. Business Review 4. Outlook *Appendix 1- Business Highlights 5. Appendix *Appendix 2- Financial Statements • Financial Statements
Slide 4: 2016 Results Highlights
2016 Results Highlights $389.9m Revenue: USD389.9m, 6.6%↑YOY; Net Profit: turnaround from (USD$11.4m) in 2015 to USD15.1m in 2016 Higher than market average growth rate in the core segments: Cardiovascular: 11.8%↑YOY, among which Firehawk 127%↑YOY , 115%↑YOY from China market and 212%↑YOY fr
Slide 5: 2016 R&D and Pipeline Progress
2016 R&D and Pipeline Progress CARDIO ENDO EP NEURO ORTHO CRM SURGICAL ROBOT Flashpoint Renal Artery Tubridge™ EVOLUTION Significant progress FiresorbTM MinosTM Revision Tibia BonaFire® Pacing Leads was achieved in the RF Ablation Catheter was granted CFDA completed FIM; 6 & 12- completed patient Gr
Slide 6: Financing and Investment
Financing and Investment Financing of Endovascular Business USD15m with certain investors USD3 million investment for ~ Net proceeds raised from the in LB’s stock and convertible 13.3% ownership in MinInvasive transactions is approximately debt (CB), diluted ownership in 5 year Distribution
Slide 7: Contents
1. Annual Results Highlights 2. Financial Review 3. Business Review 4. Outlook * Appendix 1-Business Highlights *Appendix 1- Business Highlights * Appendix 2-Financial Statements 5. Appendix *Appendix 2- Financial Statements • Financial Statements
Slide 8: Consolidated Financial Performance
Consolidated Financial Performance Revenue Gross Profit Margin USD: million 390 Non-Ortho ↑5% 376 Ortho ↑2% 70% 171 180 67% 205 210 2015 2016 2015 2016 Group revenue up 7% excl. FX, 4% as reported Gross Margin improved 3 percentage points Operating Expenses* Net Profit/(Loss) USD: million USD: milli
Slide 9: Cashflow Summary
Cashflow Summary Net Cashflow from Operating Activities Net Cashflow from Investing Activities* Net Cashflow* USD: million USD: million USD: million 26 (181) 85 83 47 31 2015 2016 2015 2016 2015 2016 *2015 includes (160m) Otsuka loan repayment Net operating cash inflow increased Net investing cash o
Slide 10: Contents
1. Annual Results Highlights 2. Financial Review 3. Business Review 4. Outlook *Appendix 1- Business Highlights 5. Appendix *Appendix 2- Financial Statements • Financial Statements
Slide 11: Orthopedics Business – Non-China Ortho
Orthopedics Business – Non-China Ortho Revenue (Non-China Ortho) FIRST time in 7 years Non-China Ortho achieved GROWTH ON TOPLINE USD：million + 0.4% 300 100 Revenue By Geographic Area 267 88 88 90 USD：million Excl. FX 223 80 204 196 200 + 0.6% 70 58 59 60 2015 50 - 4.5% 2016 40 +11.4% 31 30 30 21 23
Slide 12: Orthopedics Business – China Business
Orthopedics Business – China Business Revenue and Growth 2016 SuperpathTM and EvolutionTM in China USD：million Excl. FX 12 11.1 Hospital Coverage SuperpathTM Surgical Cases 10.6 168 +17% +32% 9.4 +396% 1332 10 9.1 8 7.1 6 2015 99 739 4 2016 SuperPath 2.2 2 Evolution 0 China Ortho Joints GSC 20 after
Slide 13: Cardiovascular Business
Cardiovascular Business Global Cardiovascular Revenue Domestic DES Sales Growth by Products USD：million Adjusted Excl. FX 138 Total: 14.8% ↑ 123 112 116 111 USD：million Excl. FX Firehawk: 127% ↑ 98 102 26 12 3 FH FB2 108 100 96 97 86 2010 2011 2012 2013 2014 2015 2016 2012 2013 2014 2015 2016 Percen
Slide 14: Cardiovascular Business - International business
Cardiovascular Business- International business Overseas DES Revenue FirehawkTM TARGET AC Enrollment Status USD：million Excl. FX 7.9 + 40% +212% 5.7 5.3 1656 pts randomized 21 sites 1.7 Firebird2+Firehawk Firehawk 2015 2016 Highlights New Countries & Distributors Development FirehawkTM available f
Slide 15: Endovascular Business
Endovascular Business Revenue Sales growth by products USD：million Excl. FX 18.9 +19%8.8 15.3 7.4 13.1 12.1 10.2 8.8 +11% 8.1 +26% 3.6 4.0 +71% +44% 2.4 2.4 1.9 1.4 0.9 1.3 2010 2011 2012 2013 2014 2015 2016 HT HBL HBB AB surgical 2015 2016 Extensive product pipeline ~ 17 products expected by 2019 a
Slide 16: Neurovascular Business
Neurovascular Business Revenue Sales growth by products USD：million Excl. FX USD：million Excl. FX 8.8 7.4 6.0 5.8 4.5 4.3 2.9 2.8 3.1 2.6 2.0 2010 2011 2012 2013 2014 2015 2016 Apollo Willis 2015 2016 Pipeline -- Full range of solutions Highlights Revenue growth by 19.5% excl. FX or 12.5% in USD 2
Slide 17: Electrophysiology Business
Electrophysiology Business Revenue Highlights USD：million Excl. FX Total: 28% domestic ↑ overseas The only Chinese company to have 3-D Magnet Mapping System and full EP Domestic: 30% ↑ 0.7 product line. Overseas: 16% ↑ Revenue growth of 28.1% excl. FX or 19.7% in USD 0.6 Columbus® and FireMagi
Slide 18: Contents
1. Annual Results Highlights 2. Financial Review 3. Business Review Contents 4. Outlook *Appendix 1- Business Highlights 5. Appendix *Appendix 2- Financial Statements • Financial Statements
Slide 19: Outlook
Outlook FUTURE II VitaFlow™ Domestically Castor™ and Tubridge™ Domestically Clinical Trial Transcatheter Aortic made knee Reewarm™ Vascular made expected to Valve and Delivery products and expected to obtain Reconstruction pacemaker has launch in the System expected to hip products CFDA
Slide 20: Contents
1. Interim Results Highlights 2. Financial Review 3. Business Review Contents 4. Outlook *Appendix 1- Business Highlights 5. Appendix *Appendix 2- Financial Statements • Financial Statements
Slide 21: Appendix I - Consolidated Income Statement
Appendix I - Consolidated Income Statement (USD '000) 2016 2015 Flux % Revenue 389,921 375,844 4% Cost of sales (118,243) (123,335) -4% Gross profit 271,678 252,509 8% Other revenue & net gain 20,677 15,525 33% Research and development costs (51,897) (60,354) -14% Distribution costs (128,464) (127,7
Slide 22: Appendix II - Consolidated Balance Sheet
Appendix II - Consolidated Balance Sheet USD'000 31 Dec 2016 31 Dec 2015 Fixed assets 270,243 271,203 Intangible assets 68,152 60,217 Prepayments for fixed assets 2,010 2,711 Goodwill 54,458 55,463 Interest in associate 11,432 - Interest in joint venture 676 4,759 Available-for-sale financial assets
Slide 23: Appendix III - Condensed Consolidated Cash Flow Statement
Appendix III - Condensed Consolidated Cash Flow Statement - Adjusted (USD '000) 2016 2015 Flux % Cash generate from operations 89,875 36,132 149% Income tax paid (7,341) (5,412) 36% Net cash from operating activities 82,534 30,720 169% Net cash from investing activities (85,119) (47,177) 80% Net cas
Slide 24: Thank You
Thank You The Patient Always Comes First