Flerie Ab · OMXSTO:FLERIE
Flerie Ab — Q2 2024 Earnings Presentation
17 slides from Flerie Ab's earnings presentation, Jul 17, 2024
Slide 1: Q2 2024 Report presentation and Q&A
Q2 2024 Report presentation and Q&A Led by Ted Fjällman, CEO 17th July 2024 Four of five top shareholders represented at the ringing of the bell ceremony - 27th June ‘24
Slide 2: Disclaimer
Disclaimer IMPORTANT: You must read the following before continuing. The following applies to this document, the oral presentation of the information in this document by Flerie AB publ (the “Company”) or any person on behalf of the Company, and any question-and-answer session that follows the oral p
Slide 3: The biotech challenge: a long and tricky road to success
The biotech challenge: a long and tricky road to success PRODUCT DEVELOPMENT COMMERCIAL GROWTH Major sales Reach Phase 3 / Entry to milestone profitability Pivotal stage new market First product/ service sold Phase 2 A second indication shows Market Collaboration or authorisation promise Phase 1 lic
Slide 4: We provide a unique opportunity to address the challenge
FLERIE’S STRATEGY We provide a unique opportunity to address the challenge 1 Hard to evaluate projects in a highly specialised sector 2 Large capital need through a very long development phase 3 Every new stage in development comes with different risks 4 The final outcome of a single biotech company
Slide 5: Twelve years of strong value creation
Twelve years of strong value creation IRR (2011 – 2023) → 14% per year Active board engagement Flerie continues to achieve through our active Product roadmaps and ownership model and evergreen portfolio platform expansion approach, now as a publicly listed company Peer-to-peer network Collaborations
Slide 6: Active ownership across all stages
FLERIE’S PORTFOLIO Active ownership across all stages Preclinical Phase 1 Phase 2 Phase 3 / Pivotal stage Early commercialisation Commercial growth Frontier Biosolutions Development stage % of total value 11% 27% 23% 16% 13% 10% PRODUCT DEVELOPMENT (77%) COMMERCIAL GROWTH (23%) 6
Slide 7: Highlights of the second quarter 2024
FLERIE’S QUARTERLY HIGHLIGHTS Highlights of the second quarter 2024 1 Reverse take-over and uplisting to Nasdaq Stockholm – NAV reaching SEK 4.4 billion Change in NAV per 2 Oversubscribed capital raise: SEK 1 bn target for deployment in portfolio reached share for the quarter 3 Catalysing SEK 190 mi
Slide 8: Q2 2024: A significant milestone reached
FLERIE IN A NUTSHELL Q2 2024: A significant milestone reached SEK 4,38 bn SEK ~1 bn NET ASSET VALUE CASH & LIQUIDITY Top tier European investment To be invested to create further company with significant assets value in the current portfolio 8
Slide 9: Q2 2024 in numbers
Q2 2024 in numbers Cecilia Schéele, CFO
Slide 10: Financial information in summary
Q2 2024 IN NUMBERS Financial information in summary April – June January - June Full year 2024 2023 2024 2023 2023 Net asset value (SEK million) 4,380 3,511 4,380 3,511 3,566 Net asset value per share (SEK) 56.10 57.80 56.10 57.80 58.71 Net asset value per share, adjusted (SEK) 57.41 57.80 57.41 57.
Slide 11: Product Development
Q2 2024 INNUMBERS FLERIE Product Development The product development segment consists of early-stage biotech, pharma and device companies in product development phase that advance products or technologies to clinical proof of concept and towards marketing approval. April-June January - June Full yea
Slide 12: Commercial Growth
Q2 2024 INNUMBERS FLERIE Commercial Growth The commercial growth segment consists of companies that are already selling product(s) or service(s) and whom Flerie helps to develop their go-to-market strategies, gain more market share and reach profitability. April - June January - June Full year SEKm
Slide 13: Limited Partnerships
Q2 2024 INNUMBERS FLERIE Limited Partnerships The limited partnership segment is where Flerie invests in another investor’s fund, which allows us to access the network, market opportunities and skills of that investment company. This helps to further build Flerie’s brand and knowledge in new geograp
Slide 14: Consolidated income statement
Q2 2024 INNUMBERS FLERIE Consolidated income statement SEKm Net sales Change in fair value of shares in portfolio companies Gains from divested shares in portfolio companies Other operating income Profit/loss from management activities Other external costs Personnel costs Depreciation Other operatin
Slide 15: Q&A with the management team
Ted Fjällman, CEO Cecilia Schéele, CFO Mark Quick, Partner Q&A with the management team Moderated by Paula Andersson, Comms Coordinator & EA
Slide 16: Appendix
> Appendix FLERIE
Slide 17: Overview of valuation methodology
CONTINUOUS AND ACTIVE VALUE CREATION Overview of valuation methodology Conservative valuation approach Methodology (IFRS) Portfolio valuation methodology EVENTS TRIGGERING APPRECIATION 1A Latest trading Based on fair value as of May -24 ✓ A successful capital raise (up round) 2A Other data 6% 2% EVE