Ekf Diagnostics Holdings Plc · LSE:EKF
Ekf Diagnostics — H1 2019 Earnings Presentation
22 slides from Ekf Diagnostics's earnings presentation, September 2019
Slide 1: EKF Diagnostics Holdings plc Interim results 2019
EKF Diagnostics Holdings plc Interim results for the six months ending 30 June 2019 September 2019
Slide 2: Disclaimer
Disclaimer The information contained in these slides and the accompanying oral presentation (together, the “Presentation”) has been prepared by EKF Diagnostics Holdings plc (the “Company”). The Presentation is subject to updating, completion, revision and amendment without notice and as such it may
Slide 3: Agenda
Agenda Slide no. 4. Financial highlights 5. Strategic outlook 9. Income statement: Extract 10. Business Unit performance 15. Outlook 16. Appendix
Slide 4: Financial Highlights
Financial Highlights 5.58 4.90 4.58 • Revenues up 5.3% to £21.44m (H1 2018: £20.36m) • Adjusted EBITDA* up 13.9% to £5.58m (H1 2018: £4.90m) • Net profit of £1.43m (H1 2018: £0.75m) • Strong cash generation from operations of £4.34m (H1 2018: £4.35m) • Net cash £11.78m (30 June 2018: £8.82m) (31 Dec
Slide 5: Strategic Outlook 1: Point-of-care
Strategic Outlook 1: Point-of-care • Successful full launch of Consult Hb analyser with McKesson-Surgical Inc. and first revenue contribution from 1 April 2019 (Diaspect Tm sold under McKesson’s own branded line) • $280k sales in first 90 days, beating management expectations • Sales strategies in p
Slide 6: Strategic Outlook 2: Central Laboratory
Strategic Outlook 2: Central Laboratory • Pre-launch activities for Glycated Albumin (GA) in USA • GA is a known marker of glycemic control to monitor patients with diabetes • Exclusive distribution agreement with Asahi Kasei Pharma Corporation, Japan • 25+ published studies available • Ongoing recr
Slide 7: Strategic Outlook 3: Life Sciences
Strategic Outlook 3: Life Sciences • EKF Life Sciences Elkhart site at full capacity. Second manufacturing site required for fermentation and purification of enzymes • 25,000 sq. ft facility in South Bend, Indiana leased. First revenues expected in Q4 2019 • New facility to manufacture for existing
Slide 8: Strategic Outlook 4: Commercial partnerships
Strategic Outlook 4: Commercial partnerships • Signed preferred partnership agreement (PPA) with Mount Sinai Innovation Partners (MSIP), NYC • Agreement provides EKF with advanced access to innovative commercial opportunities arising from Mount Sinai Health System owned technologies managed by MSIP
Slide 9: Income Statement: Extract
Income Statement: Extract H1 2019 £k H1 2018 £k +/- £k Revenue 21,436 20,357 1,079 Gross profit 11,532 10,991 541 GM % 54% 54% - Admin. expenses (9,117) (9,099) (18) Other income 24 21 3 Operating profit 2,439 1,913 526 AEBITDA* 5,584 4,897 687 * Adjusted EBITDA excludes exceptional items and share-
Slide 10: Business Unit performance
Business Unit performance H1 2019 £k H1 2018 £k +/- % Hematology 6,664 6,518 2.2% Diabetes 4,815 4,431 8.7% Central Laboratory 7,394 6,557 12.8% Other 2,563 2,851 (10.1%) Total 21,436 20,357 5.3% 10
Slide 11: Hematology H1 2019
Hematology H1 2019 • Revenues up £146k Hematology range • DiaSpect Tm/CompoLab up £596k (42.1%) DiaSpect Tm • Hemo Control/H2 down £526k (-14.0%) HemataStat II • Delivery of Pakistani and Malaysian government tenders in H1 2018 accounts for £424k Hemo Control of the difference • Start of McKesson’s
Slide 12: Diabetes H1 2019
Diabetes H1 2019 • Revenues up £384k (8.7%) Diabetes range • Quo-Test up £380k (41.7%) Biosen • Significant increase in business in Asia Quo-Lab A1c • Quo-Lab up £63k (5.1%) Quo-Test A1c • Biosen down £35k (-1.6%) STAT-Site M b-HB 2019 £k 2018 £k +/- £k +/- % Diabetes analysers £4,815 £4,431 £384 8.
Slide 13: Central Laboratory H1 2019
Central Laboratory H1 2019 Clinical chemistry, benchtop lab analysers and enzymes • Revenues up £837k (12.8%) Central Lab range • β-HB Liquicolor reagent up £437k (11.8%) Clinical chemistry • Clinical chemistry up £94k (8.6%) Beta-Hydroxybutyrate • OEM revenues up due to growth in contract manufactu
Slide 14: Geographical performance
Geographical performance USCAN EMEA H1 2019 £9,308 H1 2019 £8,218 £’000 £’000 APAC H1 2019 £2,262 Revenue H1 2019 £k H1 2018 £k +/- £k LATAM APAC £2,262 £2,479 (£217)* H1 2019 £1,648 EMEA £8,218 £7,534 £684 £’000 LATAM £1,648 £1,828 (£180) USCAN £9,308 £8,516 £792 *APAC up £47k when Pakistan tender
Slide 15: H2 2019 Outlook
H2 2019 Outlook • McKesson OEM of DiaSpect Tm to continue to build momentum in US • Delivery of large tender for Altair auto-analysers and reagents in Jordan • Launch of Biosen R-Line into US research market • Pilot fermentation project for enzyme used on food grade health product • Potential for fu
Slide 16: Appendix: Financial report
Appendix Financial report ektdiagnostics.com
Slide 17: Consolidated Income Statement
Consolidated Income Statement H1 2019 £k H1 2018 £k +/- £k Revenue 21,436 20,357 1,079 Gross profit 11,532 10,991 541 GM % 54% 54% - Administrative expenses (9,117) (9,099) (18) Other income 24 21 3 AEBITDA 5,584 4,897 687 Share based payments (1,135) (1,291) 156 Exceptional items 229 293 (64) Depre
Slide 18: Balance Sheet
Balance Sheet H1 2019 £k H1 2018 £k +/- £k Property, plant, equipment 12,376 12,329 47 Intangible assets 40,759 42,624 (1,865) Inventories 7,220 5,563 1,657 Trade / other receivables 7,775 7,896 (121) Cash and cash equivalents 12,749 9,925 2,824 Deferred considerations 1,341 1,264 77 Trade / other p
Slide 19: Balance Sheet: Assets at 30 June 2019
Balance Sheet: Assets at 30 June 2019 Selected items H1 2019 £k H1 2018 £k +/- £k Non-current assets Property, plant, equipment 12,376 12,329 47 Right-of-use assets 817 - 817 Intangible assets 40,759 42,624 (1,865) Investments 4,764 152 4,612 Deferred tax assets 33 24 9 Available-for-sale financial
Slide 20: Balance Sheet: Equity and Liabilities at 30 June 2019
Balance Sheet: Equity and Liabilities at 30 June 2019 Selected items H1 2019 £k H1 2018 £k +/- £k Total equity 66,882 61,078 5,804 Total non-current liabilities 4,285 4,289 (4) Current liabilities Trade and other payables 11,056 10,198 858 Lease liabilities 277 - 277 Deferred consideration 1,341 1,2
Slide 21: Cash Flow
Cash Flow H1 2019 £k H1 2018 £k +/- £k Profit before income tax 2,788 1,714 1,074 Net cash from operating activities 3,574 3,268 306 Cash used in investing activities (1,203) (1,269) 66 Cash used in financing activities 18 (297) 315 Net increase in cash and cash equivalents 2,389 1,702 687 Exchange
Slide 22: Thanks
Thanks for your attention ee
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