Bactiguard Holding Ab · OMXSTO:BACTI_B
Bactiguard Holding Ab — Q4 2020 Earnings Presentation
24 slides from Bactiguard Holding Ab's earnings presentation, Feb 4, 2021
Slide 1: Bactiguard Q4 2020
Bactiguard Q4 2020 Investor presentation – February 4th 2021 Cecilia Edström, CEO Gabriella Björknert Caracciolo, CFO
Slide 2: The silent tsunami
The silent tsunami • > 100 million infected • >10 million annual deaths by 2050 • > 2 million deaths 2
Slide 3: A solid platform for future growth
A solid platform for future growth 3
Slide 4: Financial summary
Financial summary Recovery in fourth quarter • Sales MSEK 55.6 (59.8) down by 7% (- 2% currency adjusted) FY 2020 (2019), MSEK o BD license revenues of MSEK 23.4 (33.7) – approaching normal levels, but 30% lower than last year, which was exceptionally high Sales 186.0 (193.9) where of o License reve
Slide 5: Operational highlights
Operational highlights Important break-through with Zimmer Biomet and improved BIP-sales License business • CE-mark for orthopedic trauma implants from Zimmer Biomet, paves the way for launch in first half of 2021 • BD’s business returning to more ”normalised” levels • First order for coating concen
Slide 6: Licensing partnerships
Licensing partnerships License partner Application area Territory Status Urinary catheter(Foley) The USA, Japan, the Recurring sales and UK, Ireland, Canada revenues and Australia Orthopedic trauma implants Global agreement Milestone driven regulatory excl. South-East Asia phase EU, US Urinary
Slide 7: BD developments
BD developments Improved performance and outlook • Revenues ahead of expectations • Driven by COVID-19 testing and higher revenues in all BD business segments • Greater resiliency in both elective and routine procedures • Interventional segment, including Urology & Critical care grew by high single
Slide 8: Zimmer Biomet milestones
Zimmer Biomet milestones Orthopedic trauma implants Production in BG facilities, recurring revenues EMEA commercialisation, recurring royalties EU 2021 2022 2023 US FDA FDA US commercialisation submission approval recurring royalties Milestone 1 Milestone 2 8
Slide 9: Major potential for growth
Major potential for growth Global market 2017 USD million 9
Slide 10: Bactiguard product portfolio
Bactiguard product portfolio Product portfolio for prevention and best treatment outcome Preventive Advanced wound Wound management Consumables / disinfection / care wash / care implantable devices Domestic Biocide regulation MDD ClassI/ClassIII MDD ClassI/ClassIII MDD ClassII/ClassIII 10
Slide 11: Current market presence & product mix
Current market presence & product mix Major potential in selling full product range across global footprint BIP Foley, CVC, ETT EMEA China Advanced Disinfection BIP Foley India Brazil & Mexico South East Asia Advanced Wound Care 11
Slide 12: New Global Head of Sales
New Global Head of Sales Peter Rådqvist • Joined Bactiguard on 1 February • Many years of international experience from leading companies and positions in MedTech, primarily in the dental area • Track record of driving profitable growth • Most recently held a global role in the development of the se
Slide 13: Strong and dedicated Executive Management Team
Strong and dedicated Executive Management Team Stefan Grass, CMTO and deputy CEO Gabriella Björknert Caracciolo, CFO and deputy CEO Sathish Subramaniam, COO Petra Kaur, CMCO Peter Rådqvist, Gobal Head of Sales 13
Slide 14: Financial update
Financial update
Slide 15: Our Business model
Our Business model Expanding our portfolio for infection protection License agreements for various Proprietary product portfolio – applications with Bactiguard sold through distributors technology 15
Slide 16: Recovery in the fourth quarter
Recovery in the fourth quarter Negative COVID-19 impact on earnings • BD license negatively affected by currency and the pandemic • License revenues of MSEK 9.4 from Well Lead • Lower sales of BIP products, but sequential improvement in Q4. • No major new license revenue in 2020 16
Slide 17: Financial overview
Financial overview 2020 2019 Q4 2020 (Q4 2019) Full Full MSEK Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 year year • Negative revenue growth of -7%, Revenues 48,1 48,2 34,1 55,6 186,0 33,9 33,0 67,2 59,8 193,9 EBITDA 14,4 10,5 -3,1 4,9 26,7 7,2 5,7 36,5 12,2 61,6 adjusted for currency -2% EBITDA margin % 30% 22% -9% 9
Slide 18: Cash flow and liquidity
Cash flow and liquidity • The Vigilenz acquisition was partly financed by debt and by issue of new shares in Q2 2020 • Positive operating cash flow for Q4 of MSEK 3.9 (36.9). Q4 last year included large payment from Zimmer Biomet of 29.4 MSEK • Credit facility of 30 MSEK of which MSEK 8.9 was utiliz
Slide 19: Long term financial targets
Long term financial targets Growth • Average revenue growth of 20% per year over a five year period 2025 Profitability • EDITDA margin of at least 30% at the end of the five-year period Dividend • A long-term goal to achieve a dividend of 30-50% of profit after tax, taking into consideration the com
Slide 20: Clear growth strategy
Clear growth strategy Effective and safe Recurring license Broader product infection revenues and new portfolio and prevention agreements market coverage 20
Slide 21: Infection prevention more needed than ever
Infection prevention more needed than ever 21
Slide 22: Questions & Answers
Questions & Answers Cecilia Edström CEO Phone +46 8 440 58 80 cecilia.edstrom@bactiguard.com Gabriella Björknert Caracciolo CFO Phone +46 8 440 58 80 gabriella.caracciolo@bactiguard.com 22
Slide 23: Upcoming financial reports
Upcoming financial reports March 30, 2021 • Annual report 2020 April 22, 2021 • Interim report Q1 April 28, 2021 • AGM2021 23
Slide 24: COVID-19 impact
COVID-19 impact Increased need for infection control Trends: Calibrating ‘the new normal’ • Increasing awareness of infections • Increased demand for disinfectants and other protective medical devices • Behavioural changes • Hospital acquired infections lead to • Patients cautious in seeking healthc