Fisher & Paykel Healthcare Corporation Limited · NZX:FPH
Fisher & Paykel Healthcare — Q3 FY2002 Earnings Presentation
16 slides from Fisher & Paykel Healthcare's earnings presentation, February 2016
Slide 1: FY02 Third quarter results review
FY02 Third quarter results review
Slide 2: Forward looking statements
2 Forward looking statements This presentation may include forward-looking statements and actual results could vary. For a discussion of factors that could cause actual results to vary from any forward- looking statements, please see our prospectus, especially Risk Factors.
Slide 3: FY02 Q3: Corporate highlights
3 FY02 Q3: Corporate highlights • Completion of F&P separation • Buyback of 18.2 million shares • Placement of 20.2 million shares as ADSs • Listing on NZSE, ASX, Nasdaq • Termination of Datex Ohmeda distribution agreement • Financial performance for 9 months: – Core revenue growth up 19% – Higher g
Slide 4: Recent product launches
4 Recent product launches Timing Product Last 6-12 months Aclaim™ Mask* Oracle Mask* Infant CPAP System HC150 Humidifier HC221 Integrated Flow Generator* Next 6-12 months Oracle mask# HC221 Integrated Flow Generator# Neonatal breathing circuits Infant CPAP System# MR810 Humidifier à New products int
Slide 5: Update on performance drivers
5 Update on performance drivers 1. Respiratory humidification: Environment: - Warm northern winter - Softer hospital capex - Mild flu season Performance: - Reduced humidifier sales to OEMs - Strong growth in single-use adult breathing circuits/ chambers - Revenue +4% in Q3, +13% YTD - 56% of core re
Slide 6: Update on performance drivers
6 Update on performance drivers 2. CPAP sleep apnea: Environment: - Increasing acceptance of humidification benefits - Product price reductions Performance: - 23% volume growth in integrated flow- generator humidifiers - Revenue +10% in Q3, +28% YTD - 38% of core revenue YTD
Slide 7: Update on performance drivers
7 Update on performance drivers 3. Neonatal and patient warming: Environment: - US distribution network strengthened - Volumes driven by tenders Performance: - Revenue +9% in Q3, +21% YTD - 6% of core revenue YTD
Slide 8: Other factors
8 Other factors Ongoing: • Revaluation of FX hedging • Quarterly sales pattern • Currency impact on revenue – 60% of FY01 revenue US$ denominated – 10% in each of Euro, Stg in FY01
Slide 9: Financial overview - 9 months
9 Financial overview - 9 months Dec-01 Dec-00 NZ$m NZ$m %ê Operating revenue (Core) 146.9 123.8 +19 Gross profit 110.5 94.4 +17 Operating profit 60.3 54.1 +11 SG&A 42.6 34.4 +24 R&D 7.6 6.0 +27 Earnings after tax 39.8 28.7 +39 Gross margin 70% 69%
Slide 10: Financial overview - Q3
10 Financial overview - Q3 Dec-01 Dec-00 NZ$m NZ$m %ê Operating revenue (Core) 52.4 49.2 +7 Gross profit 37.1 36.0 +3 SG&A 14.5 12.4 +17 R&D 2.6 2.4 +8 Operating profit 20.0 21.2 -6 Earnings after tax 14.1 11.0 +28 Gross margin 66% 65%
Slide 11: Revenue by core products
11 Revenue by core products 9 months Dec-01 Dec-00 NZ$m NZ$m %ê Respiratory humidification 82.0 72.6 +13 CPAP sleep apnea 55.5 43.4 +28 Patient warming/ neonatal 9.4 7.8 +21 146.9 123.8 +19 3 months Dec-01 Dec-00 NZ$m NZ$m %ê Respiratory humidification 29.0 27.9 +4 CPAP sleep apnea 19.8 18.0 +10 Pat
Slide 12: Key operating expenses
12 Key operating expenses SG&A • Expense +17% in Q3, 24% YTD • Increase reflects higher personnel and related expenses supporting global growth: – Additional staff in NZ, UK, US, France, Germany – Regional staff in India, Spain R&D • Expense +8% in Q3, +27% YTD • Ongoing spend 4.5 – 5% of revenue
Slide 13: Outlook – Financial guidance
13 Outlook – Financial guidance • Q4 revenue growth expected to be similar to Q3 • FY03 core product growth rate in low teens • FY03 revenue growth expected to be similar to pcp • FY03 operating margin similar to FY02 nine month figure
Slide 14: Outlook - Respiratory humidification
14 Outlook - Respiratory humidification • Integrated humidifier, Revenue growth chamber, circuit system 60 • Bundled consumable CAGR 8.3% sales will be driven by 50 breathing circuit and 40 MR850 sales US$m 30 • Full breathing circuit range (adult to neo- 20 natal) now available for 10 use on with M
Slide 15: Outlook - CPAP
15 Outlook - CPAP • Leveraging heated Revenue growth humidification expertise 40 into rapidly growing CAGR 56.2% 35 market 30 • Benefits of integrated 25 US$m flow-generator humidifier 20 • Innovative masks 15 launched recently 10 5 0 FY99 FY00 FY01
Slide 16: Fisher & Paykel Healthcare
Fisher é Paykel HEALTHCARE Fisher & Paykel HEALTHCARE
Fisher & Paykel Healthcare — Q3 FY2002 Earnings Presentation on 6ix