Diasorin S.p.a. · MIL:DIA
Diasorin — Q1 2023 Earnings Presentation
17 slides from Diasorin's earnings presentation, May 9, 2023
Slide 1: Q1 2023 Results
DiaSorin Q1 2023 RESULTS May 9, 2023
Slide 2: Disclaimer
DISCLAIMER In General. This disclaimer applies to this presentation and any oral No distribution of this Presentation. This Presentation is being furnished to comments of any person presenting it. This document, taken together you solely for your information and may not be reproduced, in whole or in
Slide 3: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This document contains forward-looking statements that are based on current expectations, estimates, forecasts and projections about the industries in which DiaSorin operates and the beliefs and assumptions of the management of DiaSorin. In addition, the management of DiaS
Slide 4: Financial Highlights
FINANCIAL HIGHLIGHTS DiaSorin
Slide 5: Financial Highlights
FINANCIAL HIGHLIGHTS Change Data in €/mln Q1 2023 @ current @ CER Revenues 290 -19% -21% Immunodiagnostics ex-COVID 172 +8% +6% Molecular Diagnostics ex-COVID 51 +9% +6% Licensed Technologies* 46 -16%* -19%* COVID 21 -78% -78% Revenues at constant perimeter1 285 -18% -20% Adjusted EBITDA2 98 -35% -3
Slide 6: Q1 2023 Key Facts
Q1 2023 KEY FACTS PRODUCT & BUSINESS DEVELOPMENT MOLECULAR DIAGNOSTICS • FDA 510(K) clearance of the Simplexa™ COVID-19 Flu A/B assay to detect Flu A, Flu B, and SARS-CoV-2 viruses in about an hour LICENSED TECHNOLOGIES • Sale, in February 2023, of the assets related to the Flow Cytometry & Imaging
Slide 7: Managerial Outlook on Q1 2023 Revenues
MANAGERIAL OUTLOOK ON Q1 2023 REVENUES Q1 2023 Group revenues (data in €/mln) EVOLUTION OF THE BUSINESS IN Q1 2023 (@CER) Data @CER Data @CUR • Total revenues: -21%, driven by: • Immunodiagnostics ex-COVID: +6% (good performance in Europe and the US, offset by negative trend in China) -21% -19% • Mo
Slide 8: Revenues Growth by Geography
REVENUES GROWTH BY GEOGRAPHY Q1’23 vs. Q1’22 BY GEOGRAPHY @CER Q1 2023 NORTH AMERICA DIRECT EX-COVID COVID 7% • Positive trend of immunodiagnostic business (+10% @CER) mainly driven by the strong -3% Rest of the World growth of CLIA tests net of Vitamin D (+15% @CER) as a result of the success of th
Slide 9: Q1 2023 Profitability Profile
Q1 2023 PROFITABILITY PROFILE (data in €/mln) 42% 34% • Gross Margin ratio in line with Q1’22, thanks to Luminex integration synergies 358 and cost reduction initiatives. • Adjusted EBITDA2 margin decrease, mostly due to lower COVID revenues, 290 resulting in operating leverage reduction. 150 98 Q1
Slide 10: FY 2023 Company Guidance
FY 2023 COMPANY. GUIDANCE DiaSorin
Slide 11: FY 2023 Company Guidance
FY 2023 COMPANY GUIDANCE FY 2023 GUIDANCE (@ CER 2022) CONFIRMED • TOTAL REVENUES: approx. -14% • REVENUES AT CONSTANT PERIMETER1: approx. -11%, of which: • ex-COVID revenues, net of molecular respiratory business: +4% / +6% • Molecular respiratory business revenues: approx. -20% • COVID revenues: a
Slide 12: Financial Schemes
FINANCIAL SCHEMES
Slide 13: Income Statement
INCOME STATEMENT Q1 Change (Amounts in million of euros) 2022 2023 amount % Net Revenues 357.6 289.6 -68.0 -19.0% Cost of sales (122.8) (97.7) +25.1 -20.4% Gross profit 234.8 191.9 -42.9 -18.3% 65.7% 66.3% +61 bps Sales and marketing expenses (68.5) (72.6) -4.1 +6.0% Research and development costs (
Slide 14: Reconciliation to Consolidated Financial Statements
RECONCILIATION TO CONSOLIDATED FINANCIAL STATEMENTS The alternative performance measures listed in the table should be used as an information supplement to the provisions of IFRS, to assist users of the document in better understanding the economic, equity and financial performance of the Group. Suc
Slide 15: Balance Sheet
BALANCE SHEET (Amounts in million of euros) 12/31/2022 03/31/2023 Change Goodwill and intangibles assets 1,995.1 1,953.5 -41.6 Property, plant and equipment 268.4 260.1 -8.4 Other non-current assets 38.2 35.4 -2.8 Net working capital 434.0 424.5 -9.5 Other non-current liabilities (309.4) (297.6) +11
Slide 16: Cash Flow Statement
CASH FLOW STATEMENT Q1 (Amounts in million of euros) 2022 2023 Cash and cash equivalents at the beginning of the period 403.0 241.8 Cash provided by operating activities 134.4 41.2 Cash used in investing activities (23.0) (17.6) Cash provided by the sale of Flow Cytometry business - 39.2 Cash provid
Slide 17: Slide 17