Ekf Diagnostics Holdings Plc · LSE:EKF
Ekf Diagnostics — FY2018 Earnings Presentation
24 slides from Ekf Diagnostics's earnings presentation, Mar 13, 2019
Slide 1: Financial results for year ending 31 December 2018
Financial results for year ending 31 December 2018 13th March 2019
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. 2018 Highlights 4. 2018 Financial performance 7. Income statement 8. Business Unit performance 9. Geographic performance 14. 2019 Objectives and outlook 17. Appendix 18.
Slide 4: Operational highlights
Operational highlights 42.5 41.6 • Revenues up 2% to £42.5m (2017 £41.6m) 38.6 37.1 • Hemo Control / HemoPoint H2 sales up £1.37m • b-HB Liquicolor sales up £0.7m 31.8 30.0 • Quo-Lab A1c sales up £0.4m • Sold c. 14,087 analysers and 76m tests 26.1 • Adjusted EBITDA* up 15% to £10.7m (2017 £9.3m) • £
Slide 5: 2018: Deliverables
2018: Deliverables Successfully delivered in the last 12 months: ✓ DiaSpect Tm FDA 510 (k) clearance for POC use and CLIA waiver ✓ McKesson OEM for DiaSpect Tm in the US ✓ Upgrade of EKF Life Sciences’ facilities in the US ✓ Contract with Oragenics at EKF Life Sciences ✓ Quo-Test FDA 510 (k) clearan
Slide 6: McKesson OEM
McKesson OEM • Initial launch 6 February 2019 – 70 McKesson sales reps trained • Exceeded initial launch goals – 20+ accounts won within first month – Won Maricopa County (AZ) tender for 20 sites • McKesson National Sales Manager: “This has gone as well as we could have possibly hoped. We are going
Slide 7: Financial highlights
Financial highlights Cash generated from • Gross profit broadly flat at £22.7m (2017: £22.9m) operations 12 • Adjusted EBITDA up 15% to £10.7m (2017: £9.3m) • Profit before tax £12.2m (2017: £4.3m) 10 • Basic earnings per share of 2.21p (2017: 0.59p), underlying basic 8 earnings (excluding exception
Slide 8: Income Statement: Extract
Income Statement: Extract FY 2018 £k FY 2017 £k +/- £k Revenue 42,543 41,584 959 Gross profit 22,696 22,863 (167) GM % 53.3% 55.0% (1.7%) Admin. expenses (10,586) (18,186) 7,600 Other income 89 52 37 Operating (loss)/profit 12,199 4,729 7,470 AEBITDA 10,675 9,304 1,371 8
Slide 9: Business Unit performance
Business Unit performance FY 2018 £k FY 2017 £k +/- % Point of Care Total 29,254 28,987 1% Hematology 13,728 12,911 6% Diabetes 10,964 11,547 (5%) Others 4,562 4,529 1% Central Laboratory Total 13,289 12,597 5% Total 42,543 41,584 2% • 6.3% year on year organic growth excluding the Saudi Arabian con
Slide 10: Hematology FY 2018
Hematology FY 2018 • Revenues up £817k (6%) Hematology range • Hemo Control/H2 up £1,370k (20%) DiaSpect Tm HemataStat II • DiaSpect Tm/CompoLab up £135k (6%) Hemo Control • SSM Hgb discontinued (revenues down 90%) HemoPoint H2 UltraCrit 2018 £k 2017 £k +/- £k +/- % Hematology 13,728 12,911 817 6% a
Slide 11: Diabetes FY 2018
Diabetes FY 2018 • Revenues down £583k (-5%) Diabetes range Biosen • Cessation of Saudi Arabian tender in Q1 2018 Quo-Lab A1c • Quo-Test (excluding Saudi Arabia) up 6% Quo-Test A1c • Quo-Lab up £441k (20%) STAT-Site M b-HB • STAT-Site M b-HB up £448k (46%) 2018 £k 2017 £k +/- £k +/- % Diabetes analy
Slide 12: Central Laboratory
Central Laboratory Clinical chemistry, benchtop lab analysers and enzymes • Revenues up £692k (5%) Central Lab range Clinical chemistry • β-HB Liquicolor reagent up £710k (10%) Beta-Hydroxybutyrate Small lab analysers • Clinical chemistry up £36k (2%) Fermentation and enzymes • Altair 240 analysers
Slide 13: Central Laboratory
Central Laboratory Beta-Hydroxybutyrate LiquiColor test • b-HB Liquicolor 2018 sales: b-HB Liquicolor revenues • Revenues of £7,936k up by 10% (2017: £7,225k) 9 US hospitals using b-HB on clinical chemistry analysers: 8 • • December 2018: c.1,250 7 • December 2017: c.1,190 6 • December 2016: 1,111 5
Slide 14: Geographical performance
Geographical performance USCAN EMEA FY 2018 £18,253 FY 2018 £15,498 £’000 £’000 APAC FY 2018 £4,867 LATAM Revenue FY 2018 £k FY 2017 £k +/- £k FY 2018 £3,925 £’000 APAC 4,867 4,210 657 EMEA 15,498 17,005 (1,507) LATAM 3,925 3,195 730 USCAN 18,253 17,174 1,079 14
Slide 15: Analysers sold 2014-2018
Analysers sold 2014-2018 Units sold 2014-2018 Hemo Control 24,003 DiaSpect T/Tm 19,842 Lactate Scout+ 8,204 Quo-Lab A1c 7,077 STAT-Site M Hgb 2,765 Quo-Test A1c 1,973 Biosen C-Line / S-Line 1,963 Hematastat II 3,995 Hemo Control/H2 DiaSpect T/Tm/Compolab/T-Low Lactate Scout+ Quo-Lab SSM Hgb Hematast
Slide 16: Tests sold 2018
Tests sold 2018 2018 2017 DiaSpect T / Tm / CompoLab 25,151,850 22,742,500 Hemo Control / HemoPoint H2 22,150,500 19,033,500 Biosen 19,174,400 18,502,400 UltraCrit 3,547,150 3,629,500 Hematastat II 2,110,000 2,397,000 Quo-Lab A1c 2,014,650 1,324,300 Lactate Scout+ 894,144 769,224 Quo-Test A1c 828,30
Slide 17: 2019 Objectives and outlook
2019 Objectives and outlook Objectives • Capitalise on 2018 investment and new product registrations: • Drive DiaSpect Tm in USA • Quo-Test FDA 510 (k) approval • Drive growth of Oragenics in Elkhart as well as attract new customers • Continue growth in APAC with emphasis on China • Re-establish gro
Slide 18: Appendix: Financial report
Appendix Financial report End of year results 2018
Slide 19: Consolidated Income Statement
Consolidated Income Statement FY 2018 £k FY 2017 £k +/- £k Revenue 42,543 41,584 959 Gross profit 22,696 22,863 (167) GM % 53.3% 55.0% (1.7%) Administrative expenses (10,586) (18,186) 7,600 Other income 89 52 37 AEBITDA 10,675 9,304 1,371 Share based payments (939) (1,514) 575 Exceptional items 6,45
Slide 20: Balance Sheet
Balance Sheet FY 2018 £k FY 2017 £k +/- £k Intangible assets 41,773 43,600 (1,827) Property, plant, equipment 12,469 12,121 348 Inventories 6,115 5,638 477 Trade / other receivables 7,434 7,396 38 Cash and cash equivalents 10,282 8,203 2,079 Deferred considerations 1,104 1,062 42 Trade / other payab
Slide 21: Balance Sheet: Assets
Balance Sheet: Assets Selected items FY 2018 £k FY 2017 £k +/- £k Non-current assets Property, plant, equipment 12,469 12,121 348 Intangible assets 41,773 43,600 (1,827) Investments 3,271 152 3,119 Deferred tax assets 36 47 (11) Total non-current assets 57,549 55,920 1,629 Current assets Inventories
Slide 22: Balance Sheet: Equity and Liabilities
Balance Sheet: Equity and Liabilities FY 2018 FY 2017 Selected items +/- £k £k £k Equity attributable Total equity 63,904 60,498 3,406 Non-current liabilities Borrowings 695 872 (177) Deferred tax liabilities 3,179 3,490 (311) Total non-current liabilities 3,874 4,362 (488) Current liabilities Trade
Slide 23: Cash Flow
Cash Flow FY 2018 £k FY 2017 £k +/- £k Cash flow from operating activities 9,861 10,118 (257) Net cash from operating activities 8,323 9,053 (730) Cash used in investing activities (4,928) (2,032) (2,896) Cash used in financing activities (1,491) (6,419) 4,928 Net increase / (decrease) in cash 1,904
Slide 24: Thanks for your attention
Thanks for your attention
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