Ekf Diagnostics Holdings Plc · LSE:EKF
Ekf Diagnostics — H1 2017 Earnings Presentation
18 slides from Ekf Diagnostics's earnings presentation, Sep 11, 2017
Slide 1: Financial results for six months ended 30th June 2017
Financial results for six months ended 30th June 2017 Julian Baines, Chief Executive Officer Richard Evans, Finance Director & COO 11th September 2017
Slide 2: Disclaimer
Disclaimer This presentation is the sole responsibility of the directors of EKF Diagnostics Holdings plc (the “Company”). N+1 Singer Advisory LLP (“N+1 Singer”), which is authorised and regulated by the Financial Conduct Authority, is acting as the nominated adviser and broker to the Company. This p
Slide 3: Agenda
Agenda Slide no. 4. H1 Highlights 5. H1 Financial performance 7. Geographic divisional split 8. Business Unit performance 12. Regulatory update 13. H2 2017 Outlook 14. Appendix 1: Financial report 3
Slide 4: H1 Highlights
H1 Highlights 2012 2013 2014 • Revenues up 23% to £21.50m (2016: £17.51m) 2015 2016 2017 • AEBITDA up 127% to £4.58m (2016: £2.02m) • 21.5 Sold 7,496 analysers and c.34m tests • Investment in enzyme manufacturing technology at 17.51 EKF Life Sciences, USA 15.51 14.89 14.86 • Poland manufacturing fac
Slide 5: H1 Financial performance
H1 Financial performance 2012 2013 2014 2015 2016 2017 • Gross profit up 41% to £11.84m (H1 2016 restated: £8.42m) 4.58 • Administration costs up £805k to £10.16m (H1 2016: £9.36) • AEBITDA* up 127% to £4.58m (H1 2016: £2.02m) • Cash generated from operations: £5.07m (H1 2016: £1.35m) • Net cash: £4
Slide 6: Income statement: Extract
Income statement: Extract H1 2017 H1 2016 +/- £’000 £’000 £’000 Revenue 21,498 17,507 3,991 Gross profit 11,839 8,416 3,423 GM % 55% 48% Admin. costs (10,163) (9,358) (805) Other income 19 32 (13) Operating (loss)/profit 1,695 (910) 2,605 AEBITDA 4,577 2,019 2,558 6
Slide 7: Geographical divisional split
Geographical divisional split H1 2017 H1 2016 H1 revenue 2017 v 2016 £’000 £’000 APAC 2,135 1,973 +£162k EMEA 8,128 6,496 +£1,632k EKF LS 1,510 984 +£526k LATAM 1,271 1,636 (£366k) USCAN 8,454 6,497 +1,959k 21,498 17,507 7
Slide 8: Business Unit performance
Business Unit performance H1 2017 £k H1 2016 £k +/- % Point of Care Total 13,974 11,388 23% Hematology 6,664 5,182 29% Diabetes 5,899 4,816 22% Others 1,411 1,390 2% Central Laboratory Total 6,579 5,699 15% Shipping, repairs, Other 945 420 125% discontinued products 21,498 17,507 8
Slide 9: Point-of-Care: Hematology
Point-of-Care Hematology • Revenues up £1,485k (29%) • Hemo Control/H2 up £883k (35%) Hematology range DiaSpect Tm • DiaSpect Tm/CompoLab up £238k (20%) Hematastat II • HemataStat II up £335k (48%) Hemo Control • H2 2017 strategy to focus on: HemoPoint H2 • Consolidate H2 distribution strategy in US
Slide 10: Point-of-Care: Diabetes
Point-of-Care Diabetes • Revenues up £1,083k (22%) YoY • Quo-Test and Quo-Lab up £746k (34%) Diabetes range • STAT-Site M BHB up £152k (52%) Biosen C-Line • Biosen up £338k (16%) Biosen S-Line Quo-Lab A1c • H2 2017 strategy to focus on: Quo-Test A1c • New Biosen distributors in China STAT-Site M b-H
Slide 11: Central Laboratory
Central Laboratory Clinical chemistry, centrifuges and enzymes • Total central laboratory sales +£880k (+15%): Central • Beta-Hydroxybutyrate Liquicolor reagent up £351k (+11%) Laboratory range • Incremental sales from launch of Altair 240 clinical chemistry analyser Clinical chemistry Contract • Cl
Slide 12: Regulatory update
Regulatory update Product registrations • Further investment in FDA submissions • China FDA registration of Quo-Test in lab testing phase • Brazilian registration for Hemo Control, DiaSpect Tm, Quo-Test and Quo-Lab • Indian registration of DiaSpect Tm anticipated Q1 2018 IVDR • New IVDR come into ef
Slide 13: H2 2017 Outlook
H2 2017 Outlook • Build on the success of the streamlined Group and lower cost base • Achieve further manufacturing savings based on CapEx spend • Achieve sales growth from current key markets and customers: – USA: Continued growth of b-HB and HemoPoint H2 – China: Identified new distributors for Bi
Slide 14: Appendix: Financial report
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Slide 15: Income statement: Extract
Income statement: Extract H1 2017 H1 2016 +/- £’000 £’000 £’000 Revenue 21,498 17,507 3,991 Gross profit 11,839 8,416 3,423 GM % 55% 48% Admin. costs (10,163) (9,358) (805) Other income 19 32 (13) Operating (loss)/profit 1,695 (910) 2,605 AEBITDA 4,577 2,019 2,558 Exceptional items 23 (387) 410 Depr
Slide 16: Balance Sheet / Cashflow: Extract
Balance Sheet / Cashflow: Extract June 2017 Dec 2016 +/- £’000 £’000 £’000 Intangible assets 45,165 46,503 (1,338) PPE 12,096 12,124 (28) Inventories 5,638 6,025 (387) Trade / other receivables 9,366 9,370 (4) Cash and cash equivalents 5,719 7,874 (2,155) Borrowings (1,283) (5,718) 4,435 Net cash /
Slide 17: Cashflow
Cashflow H1 2017 H1 2016 +/- £’000 £’000 £’000 Cash at beginning of period 7,874 2,017 5,857 Cash generated in operating activities 5,068 1,354 3,993 Cash used in investing activities (1,115) (1,129) 42 Cash generated by financing activities (5,959) 736 (6,473) Net increase/ decrease in cash (2,006)
Slide 18: Thank you
Thank you Diagnostics | — <r | for life
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