Slide 1: Q1'12 Results Conference Call
Q1’12 RESULTS Conference Call
Slide 2: Highlights
HIGHLIGHTS
Slide 3: Q1'12 Highlights
Q1’12 HIGHLIGHTS Q1’12 sales stabilizing respect to Q3’11 and Q4’11, although YoY comparison affected by extraordinary events in H1’11 and Vitamin D trends - 5.2% Q1’12 VS. Q1’11 - 6.8% AT CONSTANT EXCHANGE RATE Revenues - 1.9% Q1’12 VS. Q4’11 - 3.1% AT CONSTANT EXCHANGE RATE Profitability partly su
Slide 4: Revenues Breakdown: By Technology
REVENUES BREAKDOWN: BY TECHNOLOGY High single digit growth in CLIA sales ex Vitamin D - 3.8% Q1’12 VS. Q1’11 CLIA sales: - 0.1% Q1’12 VS. Q4’11 +7.6% Q1’12 VS. Q1’11 CLIA sales ex Vitamin D: +5.4% Q1’12 VS. Q4’11 ELISA sales (net of Murex business) affected by Brazilian tender but supported by Murex
Slide 5: Revenues Breakdown: By Geography
REVENUES BREAKDOWN: BY GEOGRAPHY Amounts in millions of euros Q1’12 Q1’11 Change Amount % % at CER Europe and Africa 48.2 49.0 -0.8 -1.7% -1.8% Central and South America 6.4 8.8 -2.4 -27.3% -26.2% Asia Pacific 8.9 9.6 -0.7 -7.3% -12.4% North America 33.2 35.7 -2.5 -7.1% -11.0% Total without Murex 96.
Slide 6: Installed Base Enlargement
INSTALLED BASE ENLARGEMENT Total LIAISON systems installed 4,356 * UNITS AT MARCH 31, 2012 (FROM 4,206 AT DECEMBER 31, 2011) New LIAISON systems installed 150 * NEW MACHINES INSTALLED: + 92* LIAISON XL IN Q1’12 (220* AT MARCH 31, 2012) + 58 LIAISON IN Q1’12 (4,136 AT MARCH 31, 2012) 6 * Out of which
Slide 7: Business Development
BUSINESS DEVELOPMENT
Slide 8: Business Development
BUSINESS DEVELOPMENT NEW PRODUCTS LAUNCHES TIMELINE RESPECTED: HEPS AND RETROVIRUS LIAISON ANTI HBs II PANEL ENRICHMENT FURTHER LIAISON HELICOBACTER PYLORI DEVELOPMENT OF STOOL TESTING LIAISON MEASLES IgM ID PANEL ENRICHMENT LIAISON MUMPS IgM FURTHER STRENGTHENING LIAISON 25 OH VITAMIN D OF BONE & M
Slide 9: FY'12 Pipeline: Immunodiagnostics
FY’12 PIPELINE 2012 Q1 Q2 Q3 Q4 Hormonology Aldosterone IMMUNODIAGNOSTICS GI Stool Testing H. Pylori ✔ GDH ✔ Measles IgM ✔ Infectious Diseases Mumps IgM HTLV I/II PARVO CMV MOLECULAR DIAGNOSTICS EBV Infectious Diseases VZV TOXO BKV HSV 1-2 CML (BCR-ABL p210) CML (BCR-ABL p190) Onco Hematology APL (P
Slide 10: 2012 US Menu Expansion
2012 US MENU EXPANSION 2012 Q1 Q2 Q3 Q4 C-peptide IGF -I fT4 fT3 Anti-TPO FSH IMMUNODIAGNOSTICS Hormonology LH Prolactin HCG Estradiol II Progesterone II Testosterone Renin Hypertension Aldosterone HSV M + cntr Infectious Diseases 10 Rubella M
Slide 11: NorDiag Assets Acquisition
NORDIAG ASSETS ACQUISITION
Slide 12: The Molecular Diagnostic Process
THE MOLECULAR DIAGNOSTIC PROCESS 3 PHASES TO RUN A M MO MOLECULAR STRATEGY ON AGNOSTIC GN NOSTIC TE DIAGNOSTIC TEST MOLECULAR DIAGNOSTIC Sample preparation prreparatii on phase: Extraction ction cti technology ion tech techn hn + + REAGENT KITS LAMP Technology Higher sensitivity DNA/RNA RNA NA A Amp
Slide 13: Extraction Market and DiaSorin
EXTRACTION MARKET AND DIASORIN MOLECULAR TESTING AND ISOLATION AND EXTRACTION OF: RESEARCH NEED • NUCLEIC ACIDS SAMPLE PREPARATION • CELLS • PROTEINS QUALITY MAY DICTATE THE SUCCESS SAMPLE PREPARATION AS OF THE DOWNSTREAM WORKFLOW, PRIMARY STEP OF DOWNSTREAM AVOIDING: BIOLOGY / TESTING • IMPURITIES
Slide 14: Deal Structure
DEAL STRUCTURE The acquisition was closed on May 4, 2012 Purchase price: ¤ 7.6 million in cash Funding: entirely with internal DiaSorin Group resources Buying legal entity: Biotrin international Ltd. (DiaSorin Group Irish subsidiary) 14
Slide 15: NorDiag Financials
NORDIAG FINANCIALS NOK 1,000 FY’11 FY’10 Operating revenues 30,282 30,917 Gross margin 52% 35% Other revenues/governmental grants 1,038 2,066 EBITDA -31,514 -38,111 EBIT -39,980 -44,696 Loss from continuing operations -40,871 -43,913 Non-controlling interest 1,195 4,201 Total comprehensive Income, n
Slide 16: NorDiag Business and Products
NORDIAG BUSINESS AND PRODUCTS SAMPLE PREPARATION PHASE: BUSINESS Automated technologies for isolation of nucleic acids and cells from difficult and challenging biological samples, DESCRIPTION making them ready for downstream analysis: Reagent kits and consumables for the extraction of nucleic acids
Slide 17: Arrow and Bullet in Details
ARROW AND BULLET IN DETAILS BULLET ARROW • Fully automated sample preparation • Low cost, small footprint instrument for instrument for molecular diagnostics isolation of nucleic acids and cells from biological samples • CE-IVD approved • CE-IVD approved, all rights held by NorDiag • Throughput capa
Slide 18: Next Steps on Molecular Diagnostic
NEXT STEPS ON MOLECULAR DIAGNOSTIC PHASE 1 THE OFFER STARTING Q4’12 # SPECIALTY TESTS BY Q4’12 INFECTIOUS DISEASES: 7 + ONCO-HEMATOLOGY: 5 NorDiag Arrow LIAISON IAM MOLECULAR PROCESS ISOLATION + EXTRACTION AMPLIFICATION + DETECTION PHASE 2 THE OFFER IN THE FUTURE A 2ND GENERATION, FULLY INTEGRATED M
Slide 19: Q1'12 Financials
Q1’12 FINANCIALS
Slide 20: Q1'12 Results: Income Statement
Q1’12 RESULTS: INCOME STATEMENT €/mln Q1 Change 2012 2011 Amount % Net Revenues 105.7 111.4 (5.8) -5.2% Gross profit 74.7 79.8 (5.1) -6.4% Gross margin 70.7% 71.7% S&M (20.1) (18.5) (1.6) +8.7% R&D (5.5) (5.2) (0.3) +5.0% G&A (11.9) (10.7) (1.2) +10.9% Total operating expenses (37.4) (34.4) (3.0) +8.
Slide 21: Q1'12 Results: Balance Sheet
Q1’12 RESULTS: BALANCE SHEET €/mln 03-31-2012 12-31-2011 Total intangible assets 121.7 121.9 Total tangible assets 61.3 62.7 Other non-current assets 20.3 20.7 Net Working Capital 139.5 133.9 Other non-current liabilities (29.2) (29.7) NET CAPITAL EMPLOYED 313.7 309.5 NET FINANCIAL POSITION 59.9 41.
Slide 22: Q1'12 Results: Cash Flow Statement
Q1’12 RESULTS: CASH FLOW STATEMENT €/mln Q1 Change in value 2012 2011 Cash and cash equivalents at beginning of period 64.1 62.4 +1,8 Operating activities 22.3 27.6 -5.3 Financing activities 0.4 (27.9) +28.3 Investing activities (6.2) (4.2) -2.0 Net Change in net cash and cash equivalents 16.5 (4.4)
Slide 23: FY2012 Guidelines
FY2012 GUIDELINES Full Year 2012 guidelines CONFIRMED: REVENUES IN LINE WITH 2011 OR SLIGHTLY GROWING (NEARLY +2%) EBITDA MARGIN WILL BE INLINE WITH OR SLIGHTLY BELOW 2011 LEVEL (~ 200 BPS) 500-600 NEW SYSTEMS INSTALLED (LIAISON + LIAISON XL) 23