Diasorin S.p.a. · MIL:DIA
Diasorin — Q2 2020 Earnings Presentation
16 slides from Diasorin's earnings presentation, Jul 30, 2020
Slide 1: 2020 Results
x > a 2020 RESULTS July 30, 2020
Slide 2: Disclaimer
Disclaimer These statements are related, among others, to the intent, belief or current expectations of the customer base, estimates regarding future growth in the different business lines and the global business, market share, financial results and other aspects of the activities and situation rela
Slide 3: Financial Highlights
Financial Highlights Change Change Data in €/mln Q2’20 H1’20 @ current @ CER @ current @ CER Revenues 207.7 +15.7% +15.4% 382.3 +9.1% +8.7% CLIA ex Vitamin D +11.7% +12.0% +7.4% +7.6% Vitamin D -56.7% -56.6% -35.2% -35.7% ELISA tests -44.0% -43.7% -27.4% -27.5% Molecular tests +286.2% +279.7% +162.9
Slide 4: H1 2020 key facts
H1 2020 key facts Immunodiagnostic Installed Base Product Development @ June 30, 2020 Immunodiagnostics: New placements (net) +241 • LIAISON SARS-CoV-2 S1/S2 IgG test for the identification of antibodies against S1 and S2 proteins of SARS-CoV-2 Overall installed base 8,530 • LIAISON SARS-CoV-2 IgM t
Slide 5: Managerial outlook on Q2 & H1 2020 revenues
Managerial outlook on Q2 & H1 2020 revenues Total Group revenues Key impacting factors Data in €/mln @ CER @ current+9.1% @ CER +8.7% • Volume reduction driven by widespread lockdown measures to contain COVID- 19 pandemic • Growth in CLIA ex Vitamin D and molecular diagnostic sales driven by COVID-
Slide 6: Focus: impact of COVID-19 pandemic at top line level
Focus: impact of COVID-19 pandemic at top line level +1.7% 173.6 • >85% generated mainly in the U.S. + some 170.8 other EU countries (0.3) +3.1 • Contracts signed with 4 governments (Canada, UK, Belgium and Israel) for the supply -0.2% of tests used to run epidemiological studies +8.7% 380.8 350.3 Q
Slide 7: Q2 & H1 2020 revenue growth by technology
Q2 & H1 2020 revenue growth by technology Total Group revenues Key impacting factors Q2'20 vs. Q2'19 H1'20 vs. H1'19 • Volume decrease in routine testing driven by COVID-19, both in CLIA and ELISA @ curr +11.7% +7.4% CLIA ex Vitamin D tests @ CER +12.0% +7.6% • Molecular diagnostic tests growth prin
Slide 8: Q2 & H1 2020 revenue trend by geography
Q2 & H1 2020 revenue trend by geography Deep dive on COVID-19 impact on geographies Q2’20 vs. Q2’19 H1’20 vs. H1’19 EUROPE & AFRICA • Volume increase due to COVID-19 testing in many EU countries, fostered also by +9.0% +9.0% contracts signed with Governments (i.e. UK, Belgium and Israel) • Routine t
Slide 9: H1 2020 revenues breakdown @ current exchange rate
H1 2020 revenues breakdown @ current exchange rate BY GEOGRAPHY BY TECHNOLOGY Instruments & other revenues H1’19 9.8% H1'19 USA & Canada Molecular diagnostic tests 28.9% 8.8% Europe & Africa CLIA tests 46.9% ELISA tests 67.6% COVID tests sales COVID swab tests 13.8% Asia Pacific increased the sales
Slide 10: Q2'20 & H1'20 profitability profile
Q2’20 & H1’20 profitability profile DATA IN €/MLN Q2'19 Q2'20 Change % H1'19 H1'20 Change % GROSS PROFIT 124.7 143.4 +15.0% 243.3 264.1 +8.5% EBITDA 71.7 89.2 +24.3% 139.3 153.6 +10.3% @ CER +18.7% +10.1% EBITDA MARGIN 40.0% 42.9% +298 bps 39.8% 40.2% +43 bps @CER 42.6% +262 bps 40.2% +49 bps EBIT 5
Slide 11: Company Guidance
Company Guidance Given the ongoing uncertainty and unpredictability of the COVID-19 pandemic impact on H2’20, DiaSorin has deemed it appropriate to confirm the decision made during the publication of its Q1’20 results and refrain from providing its business outlook for full year 2020. Nevertheless,
Slide 12: Financial schemes
Financial schemes 12
Slide 13: Income Statement
Income Statement Q2 Change H1 Change (Amounts in million of euros) 2019 2020 amount % 2019 2020 amount % Net Revenues 179.5 207.7 +28.2 +15.7% 350.3 382.3 +32.0 +9.1% Cost of sales (54.8) (64.3) -9.4 +17.2% (107.0) (118.2) -11.2 +10.5% Gross profit 124.7 143.4 +18.8 +15.0% 243.3 264.1 +20.8 +8.5% 69
Slide 14: Balance Sheet
(Amounts in million of euros) Goodwill and intangibles assets Property, plant and equipment Net working capital Other non-current assets (liabilities) Net Invested Capital Net Financial Position Total shareholders’ equity Balance Sheet 14
Slide 15: Cash flow statement
Cash flow statement Q2 H1 (Amounts in million of euros) 2019 2020 2019 2020 Cash and cash equivalents at the beginning of the period 70.1 181.1 73.1 157.6 Cash provided by operating activities 44.7 49.6 92.7 105.4 Cash used in investing activities (11.5) (15.5) (24.3) (31.4) Cash provided/(used) in
Slide 16: DiaSorin
DiaSorin