Diasorin S.p.a. · MIL:DIA
Diasorin — Q1 2017 Earnings Presentation
20 slides from Diasorin's earnings presentation, May 8, 2017
Slide 1: Q1 2017 Results
Q1 2017 Results DIASORIN SPA May 8, 2017
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: Agenda
4 Highlights Q1 Main Topics Revenues • Breakdown by Technology • Breakdown by Geography Installed Base Expansion Profitability Profile 14 FY 2017 Company Guidance 16 Annex 3
Slide 4: Highlights
Highlights
Slide 5: Q1'17 main topics
Q1’17 main topics Q1’17 Q1’17 @ Mar 31, 2017 LIAISON & LIAISON XL PLACEMENTS REVENUES €/mln 157.5 (*) LIAISON XL +185 3,048 +26.5% @ CER +24.1% LIAISON -12 3,987 CLIA ex Vit D 25 OH +12.1% @ CER +10.9% TOTAL +173 7,035 +3.1% Vit D 25 OH @ CER 0.0% EBITDA €/mln 62.5 Product Development +32.4% @ CER +
Slide 6: Q1'17 Revenues
Q1’17 Revenues Q1’17 vs. Q1’16 Growth driven by • all CLIA tests, net of Vitamin D 25 OH, with particular evidence on: @ current +26.5% • Infectious Diseases • Hepatitis • Torch Revenues • Gastro-Intestinal Testing • Vitamin D 1,25 • molecular tests, with a strong flu season @ CER +24.1% Positive pe
Slide 7: Q1'17 Revenues: contribution by technology
Q1’17 Revenues: contribution by technology Q1’16 Q1’17 Instruments, consumables & others: Instruments, consumables & others: 11.3% 11.2% Molecular tests: Molecular tests: 0.5% 11.6% RIA & ELISA tests: CLIA tests: RIA & ELISA tests: CLIA tests: 12.5% 75.7% 11.8% 65.4% Q1 2017 Results Presentation 7
Slide 8: Q1'17 Revenues: breakdown by technology
Q1’17 Revenues: breakdown by technology Q1’17 vs. Q1’16 @ current +12.1% CLIA ex Vitamin D 25 OH tests @ CER +10.9% CLIA @ current +3.1% Vitamin D 25 OH test (CLIA) @ CER +0.0% @ current +19.7% ELISA + RIA tests @ CER +16.6% Instruments & @ current +26.1% Consumables @ CER +24.4% Molecular Diagnosti
Slide 9: Q1'17 Revenues: breakdown by geography
Q1’17 Revenues*: breakdown by geography Europe & Africa North America 66.7 €/mln 42.4% of sales +10.1% 53.1 €/mln 33.7% of sales +59.3% Germany France +8.8% +7.4% USA +60.6% Italy +1.0% China +22.6% Asia Pacific Mexico +21.5% 26.2 €/mln 16.6% of sales +10.2% Brazil Latin America +21.2% 11.5 €/mln 7.
Slide 10: Q1'17 Revenues: breakdown by geography
Q1’17 Revenues: breakdown by geography Q1’16 Q1’17 North America: North America: Europe and Africa: 25.8% Europe and Africa: 33.7% 48.7% 42.4% Asia Pacific: Asia Pacific: 19.0% 16.6% Central and South America: Central and South America: 6.5% 7.3% Q1 2017 Results Presentation 10
Slide 11: Q1'17 Revenues: breakdown by geography
Q1’17 Revenues*: breakdown by geography Q1’17 Q1’17 vs. vs. Q1’16 Q1’16 EUROPE & AFRICA +10.1% ASIA PACIFIC +10.2% Germany +8.8% China +22.6% Growth mainly driven by Gastro-Intestinal testing and Vitamin D 1,25. Growth in CLIA tests driven by Hepatitis, Prenatal diseases, Infectious Diseases and PCT
Slide 12: Installed base expansion
Installed base expansion Units at Net placements Units at December 31, 2016 in Q1 2017 March 31, 2017 3,999 -12 3,987 2,863 +185 3,048 TOTAL 6,862 +173 7,035 Q1 2017 Results Presentation 12
Slide 13: Q1'17 EBITDA
Q1’17 EBITDA* Q1’16 Q1’17 EBITDA (€/mln) 47.2 62.5 +32.4% EBITDA 37.9% 39.7% +180 bps margin Increase compared to Q1’16, mainly driven by: • Higher sales due to change in scope of consolidation and strong flu season; growth of immunodiagnostic products, mainly driven by CLIA ex Vitamin D. • Very
Slide 14: FY 2017 Company Guidance
FY 2017 Company Guidance
Slide 15: FY 2017 Company Guidance
FY 2017 Company Guidance FY 2017 Company Guidance, including Focus business: Revenues Growth equal to around +11% at CER compared with 2016 (*) EBITDA Growth equal to around +11% at CER compared with 2016 (*) (*) 2016 Eur/US$ exchange rate = 1.11 Q1 2017 Results Presentation 15
Slide 16: Annex
Annex
Slide 17: Q1'17 results: Income Statement
Q1’17 results: Income Statement Q1 Change Data in € million 2016 2017 amount % Net revenues 124.5 157.5 +33.0 26.5% Gross profit 85.8 107.9 +22.2 25.9% Gross Margin 68.9% 68.5% -30 bps S&M (24.3) (29.8) -5.5 +22.8% R&D (7.2) (10.2) -3.0 +41.7% G&A (13.6) (16.0) -2.4 +17.6% Total operating expenses (
Slide 18: Q1'17 results: Balance Sheet
Q1’17 results: Balance Sheet Data in € million 12/31/2016 3/31/2017 Change Goodwill and intangibles assets 357.1 351.8 -5.3 Property, plant and equipment 92.1 89.9 -2.2 Other non-current assets 24.0 24.9 +0.9 Net working capital 165.0 159.8 -5.2 Other non-current liabilities (46.1) (47.0) -0.9 Net I
Slide 19: Q1'17 results: Cash Flow Statement
Q1’17 results: Cash Flow Statement Q1 Data in € million Change 2016 2017 Cash and cash equivalents at the beginning of the period 212.2 130.5 -81.7 Operating activities +33.8 +51.2 +17.3 Investing activities -5.8 -8.0 -2.2 Financing activities -5.2 -0.8 +4.4 Acquisitions of companies and business op
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