Nova Eye Medical Ltd · ASX:EYE
Nova Eye Medical — Investor Presentation (February 2020)
19 slides from Nova Eye Medical's investor presentation, Feb 20, 2020
Slide 1: Ellex Medical Lasers Limited (ASX:ELX) First Half FY2020 Investor Presentation
Ellex Medical Lasers Limited (ASX:ELX) First Half FY2020 Investor Presentation 20 FEBRUARY 2020 ADELAIDE, AUSTRALIA
Slide 2: Disclaimer
2 F I R S T H A L F F Y 2 0 I N V E S T O R P R E S E N TAT I O N Disclaimer This presentation has been prepared by Ellex Medical (Ellex, ELX: ASX; OTCQX: ELXMY, ELXMF). While the information in this presentation has been prepared in good faith and with reasonable care, no representation or warranty
Slide 3: 1HFY20 Highlights – Proposed Sale of Ellex Lasers & Ultrasound
3 F I R S T H A L F F Y 2 0 I N V E S T O R P R E S E N TAT I O N 1HFY20 Highlights – Proposed Sale of Ellex Lasers & Ultrasound • Ellex announced a sale of its Ellex Lasers & Ultrasound (L&U) business and Brand (Ellex) to Lumibird Group SA (French Manufacturer) for A$100 million in cash in December
Slide 4: 1HFY20 Highlights – Proposed Sale of Ellex Lasers & Ultrasound
4 F I R S T H A L F F Y 2 0 I N V E S T O R P R E S E N TAT I O N 1HFY20 Highlights – Proposed Sale of Ellex Lasers & Ultrasound • Sale expected to complete on May 1st 2020 • Accounting standards require reporting as if Ellex had already exited L&U business as at 31 Dec 2019 • Financials reported di
Slide 5: 1HFY20 Key Summary Information
5 F I R S T H A L F F Y 2 0 I N V E S T O R P R E S E N TAT I O N 1HFY20 Key Summary Information KEY FINANCIAL INFORMATION – 31 DECEMBER 2019 REPORTED DISCONT. OPERATIONS^ PRO-FORMA Revenue $7.4 million $34.4 million $41.8 million EBITDA ($2.9 million) $2.8 million ($0.1 million) NPAT ($2.9 million)
Slide 6: 1HFY20 Group Financial Summary (excluding discontinued operations)
6 F I R S T H A L F F Y 2 0 I N V E S T O R P R E S E N TAT I O N 1HFY20 Group Financial Summary (excluding discontinued operations) • Sales of $7.4 million, down 4% on the prior corresponding period (pcp) • Gross margin (ex-labour) was down 275 bps to 76.8% versus pcp • Operating expenditures were
Slide 7: iTrack™ Canal-Based Glaucoma Surgery
7 F I R S T H A L F F Y 2 0 I N V E S T O R P R E S E N TAT I O N iTrack™ Canal-Based Glaucoma Surgery
Slide 8: 1HFY20 Financial Results – Ellex iTrack
8 F I R S T H A L F F Y 2 0 I N V E S T O R P R E S E N TAT I O N 1HFY20 Financial Results – Ellex iTrack • US unit sales down 11%, Non US sales down 23% due to competitive forces, Chinese unit sales up 31% • Worldwide unit volumes decreased 8.3% on pcp, revenues up 2.3% to $6.6 million • Improved $
Slide 9: Ellex iTrack USA Update
9 F I R S T H A L F 2 0 2 0 I N V E S T O R P R E S E N TAT I O N Ellex iTrack USA Update • Opened 38 new accounts in the half, 434 total accounts up 33% versus pcp • Decrease in 1HFY20 reorders versus pcp, with new order / reorder mix of 8% / 92% • Significant runway of opportunity remains: 1HFY20
Slide 10: 2RT™ Intermediate AMD
10 F I R S T H A L F 2 0 2 0 I N V E S T O R P R E S E N TAT I O N 2RT™ Intermediate AMD
Slide 11: 1HFY20 Financial Results – 2RT
11 F I R S T H A L F F Y 2 0 I N V E S T O R P R E S E N TAT I O N 1HFY20 Financial Results – 2RT • Management has prioritised and accelerated 2RT ELLEX 2RT REVENUE ($m) ELLEX 2RT EBITDA ($m) clinical development (US FDA approval path) 1.3 • Large unmet medical need for AMD therapy, with no -35% reg
Slide 12: 2RT FDA Update
12 F I R S T H A L F F Y 2 0 I N V E S T O R P R E S E N TAT I O N 2RT FDA Update • FDA Application / clinical protocol based on the results of the 2RT LEAD Trial reported in late 3Q CY18 submitted to FDA in September 2019 • During the 1H FY20, a proposed registration-directed, clinical trial protoc
Slide 13: Lumibird Transaction Update
13 F I R S T H A L F F Y 2 0 I N V E S T O R P R E S E N TAT I O N Lumibird Transaction Update • Transaction is pending subject to shareholder approval • On track for EGM late April • Independent Expert appointed in January to assess whether the transaction is fair and reasonable for Ellex sharehold
Slide 14: Outlook
14 F I R S T H A L F F Y 2 0 I N V E S T O R P R E S E N TAT I O N Outlook • Ellex remains focused on completing the necessary restructuring and conditions to implement the Lumibird transaction • Company has delivered on OPEX control, EBITDA improvements and working capital reductions in the first h
Slide 15: Contacts
15 F I R S T H A L F F Y 2 0 I N V E S T O R P R E S E N TAT I O N Contacts VICTOR PREVIN KIMBERLEY MENZIES DR. TOM DUTHY Executive Chairman Global Finance Manager & Investor Relations & Company Secretary Corporate Development W: +61 8 7074 8200 W: +61 8 7074 8200 M: +61 402 493 727 E: vprevin@ellex
Slide 16: Appendix
16 F I R S T H A L F F Y 2 0 I N V E S T O R P R E S E N TAT I O N Appendix
Slide 17: Average FX Rates
17 F I R S T H A L F F Y 2 0 I N V E S T O R P R E S E N TAT I O N Average FX Rates Average FX 1HFY19 1HFY20 AUD:USD 0.716 0.685 AUD:EUR 0.628 0.612 AUD:YEN 81.38 74.04
Slide 18: iTrack 1H/2H revenues (A$m)
18 F I R S T H A L F F Y 2 0 I N V E S T O R P R E S E N TAT I O N iTrack 1H/2H revenues (A$m) 7.9 6.5 6.6 5.8 5.2 4.6 3.6 2.7 3.1 3.2 2.1 1HFY15 2HFY15 1HFY16 2HFY16 1HFY17 2HFY17 1HFY18 2HFY18 1HFY19 2HFY19 1HFY20
Slide 19: iTrack 1H/2H unit sales
19 F I R S T H A L F F Y 2 0 I N V E S T O R P R E S E N TAT I O N iTrack 1H/2H unit sales 9000 8000 1,200 7000 850 1,003 6000 700 2,222 1,309 5000 765 2,039 2,373 4000 400 2,322 1,654 2,057 3000 2,154 2,086 2000 1,333 1,882 1,344 4,488 3,378 3,826 3,418 3,014 1000 2,505 1,368 1,587 1,835 1,842 1,31
Nova Eye Medical — Investor Presentation (February 2020) on 6ix