Eden Research Plc · LSE:EDEN
Eden Research — FY2021 Earnings Presentation
28 slides from Eden Research's earnings presentation, Jun 7, 2022
Slide 1: Eden Research plc 2021 Preliminary Results and Investor Update
Eden Research plc 2021 Preliminary Results and Investor Update 7th June 2022
Slide 2: Eden Research plc company description
Eden Research plc is an AIM-quoted company focused on sustainable biopesticides and plastic-free encapsulation technology for use in the global crop protection, animal health and consumer products industries. 2
Slide 3: 2021 Preliminary Results
2021 Preliminary Results 3
Slide 4: 2021 Overview
2021 Overview • Modest product sales growth, on a volume and local currency basis, after two challenging years with considerable growth expected in 2022 and beyond. • Eden signed an exclusive commercialisation, supply and distribution agreement with Corteva Agriscience, the fourth largest agriscienc
Slide 5: 2021 Preliminary Results
2021 Preliminary Results Overview: 2021 2020 Notes: Revenue £1.2m £1.4m Product sales revenue £1.1m £1.1m § Product sales increased 4% by volume and Other revenue £0.1m £0.3m 6% on a constant currency basis. § Sales of Mevalone continued to be negatively impacted for use on wine grapes, due to a Adm
Slide 6: Mevalone – Eden sales to distributors 2018 - 2021
Mevalone® – Eden sales to distributors 2018 - 2021 Eden Mevalone sales (L) § As has been previously communicated to shareholders, post-season sales in 2019 were strong, with good ex-distributor sales growth expected in 2020, following ex-distributor sales growth of 35% seen in 2019. § The global COV
Slide 7: Mevalone – Distributor sales 2018 - 2021
Mevalone® – Distributor sales 2018 - 2021 § Sales of Mevalone made by our Ex-distributor Mevalone sales (L) distribution partners in the same period reflect a positive overall trend driven by the addition of new territories (e.g., Australia) and label expansions (e.g., Spain). § Despite a small decr
Slide 8: Organic Growth: Current Products
Organic Growth: Current Products 8
Slide 9: Product Characteristics
Product Characteristics Protecting plants ‘Residue free’ from potentially damaging Polymer- Tackling chemicals free resistance Low or no pre- Enabling formulation harvest intervals build-up technology sustained delivery, giving growers increasing residual flexibility, security efficacy and and contr
Slide 10: Positive Outlook for Organic Growth
Positive Outlook for Organic Growth How organic growth will be achieved: § The team at Eden now has the necessary capabilities to formulate, develop, test (up to pot plant level) and register products that it has created. § Label extensions and country approvals of Mevalone and Cedroz continue to in
Slide 11: Mevalone – Biofungicide
Mevalone® – Biofungicide Background: Current status: § Mevalone is a foliar biofungicide which § Approved in Southern EU on a wide range of targets and crops was developed initially to target botrytis on grapes. § Approved in Kenya and Australia § Approval in the US and New Zealand expected in 2022
Slide 12: Cedroz – Bio-nematicide
Cedroz™ – Bio-nematicide Background: Current status: § Cedroz is a bio-nematicide targeting root-knot § Approved in Southern and Central EU on a wide range of high-value nematodes in high value crops. crops § A development and commercialisation § Approval in the US expected in 2022 agreement was sig
Slide 13: Return to product sales growth
Return to product sales growth Eden product sales (€) Current status: 2,000,000 § The table shows forecast growth in Eden’s 1,800,000 product sales for Mevalone and Cedroz in 2022 of around 28%, per Cenkos’ forecast*. 1,600,000 1,400,000 § There are additional opportunities for further sales growth
Slide 14: Organic Growth: New Products
Organic Growth: New Products 14
Slide 15: Seed Treatments – Corteva: on the path to commercialisation
Seed Treatments – Corteva: on the path to commercialisation Background: Current status: § Two incumbent ingredients used in Corteva’s seed treatment products § Semi-field studies have shown good efficacy. have been, or will shortly be, banned in key markets. § Field trials, undertaken by both partie
Slide 16: Insecticide: significant opportunities for effective, new products
Insecticide: significant opportunities for effective, new products Current status: Background: § Initial data received from the field trials which are currently underway § Due to a ban on numerous insecticides, such shows good efficacy, consistent with that in 2021. as neonicotinoids, there is a lar
Slide 17: Downy mildew: filling a gap in the market
Downy mildew: filling a gap in the market Background: Current status: § Due to the recent restriction of a number of § Second year regulatory field trials are currently key downy mildew products, there is a Market underway with results expected in Q3,Cap 2022. strong need for replacement products. $
Slide 18: Sustaine projects: addressing the rising microplastics issue
Sustaine® projects: addressing the rising microplastics issue Background: Current status: § In addition to using microencapsulation system, § Field trials underway with multiple industry partners. Sustaine, in our in-house developed products, Market Cap such as Mevalone and Cedroz, it is possible to
Slide 19: Additional growth opportunities
Additional growth opportunities Cannabis: § Eden has been approached by a new potential partner to see if Mevalone, or any other Eden formulation, would be suitable to target the cannabis market in the US and Canada. § The targets for the crop include botrytis, which is well known to Eden and agains
Slide 20: Growth Through Acquisition
Growth Through Acquisition 20
Slide 21: Growth opportunities through acquisition
Growth opportunities through acquisition Current status: § Eden has identified multiple acquisition opportunities which it believes will provide immediate growth in revenue and provide a positive contribution to EBITDA. § The acquisition opportunities are in the consumer products sector. § Having fo
Slide 22: Ideal consumer products target profile
Ideal consumer products target profile Ideal profile: Benefits of acquisition: § UK-based, private companies in the consumer § Immediate expansion in the consumer products ingredients products sector market Market Cap $31.5bn § Owner of patented active ingredients § Opportunity for two-way leverage
Slide 23: Firm Foundations
Firm Foundations 23
Slide 24: A Strong Team
A Strong Team Sean Smith CEO Alex Abrey CFO Laboratories and Head of Product Director of Regulatory Commercial Director Head of R&D Facilities Manager Management Affairs Consultant Development Team Team Leader Team Leader Analytical Scientist Leader Biology R&D Formulations Consultant Scientist Scie
Slide 25: Strong leadership
Strong leadership Chairman – Lykele van der Broek CFO – Alex Abrey Lykele retired as a Member of the Board of Management of Bayer Alex, a Chartered Certified Accountant, joined the Board in September CropScience, a division of Bayer AG, in 2014, being responsible for the 2007, having been Chief Acco
Slide 26: Innovation Capabilities
Innovation Capabilities Background: • Development of in-house R&D – reduces dependency on 3rd parties, CROs, etc. Market Cap • In-house capabilities now include formulation, $31.5bn microbiological screening, plant and seed evaluations and analytical work. • Laboratories are now GLP-ready and operat
Slide 27: Regulatory position
Regulatory position EFSA (EU): § Application for the renewal of Eden’s three active ingredients (eugenol, geraniol and thymol) has been submitted to EFSA for its review. § The renewed approvals will provide an additional ten years of data protection. Market Cap § Much of the newly submitted data wil
Slide 28: Thank you
Thank you 28