Diasorin S.p.a. · MIL:DIA
Diasorin — Non-Deal Roadshow (September 2022)
43 slides from Diasorin's roadshow presentation, September 2022
Slide 1: Roadshow Presentation September 2022
ROADSHOW PRESENTATION SEPTEMBER 2022
Slide 2: Disclaimer
DISCLAIMER In General. This disclaimer applies to this presentation and any oral comments of any person presenting it. This document, taken together with any such oral comments, is referred to herein as the “Presentation”. This Presentation has been prepared by DiaSorin S.p.A. (“DiaSorin” or the “Co
Slide 3: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This document contains forward-looking statements that are based on current expectations, estimates, forecasts and projections about the industries in which DiaSorin operates and the beliefs and assumptions of the management of DiaSorin. In addition, the management of DiaS
Slide 4: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS Any forward-looking statements contained in this document speak only as of the date of this document and DiaSorin disclaim any obligation to update or revise publicly forward-looking statements. Further information concerning the Group and its business, including factors t
Slide 5: The New DiaSorin After Luminex Acquisition
THE NEW DIASORIN AFTER LUMINEX ACQUISITION OUR BUSINESS BY OUR BUSINESS BY OUR PEOPLE GEOGRAPHY TECHNOLOGY* ~3,300 Europe Direct 35% Molecular Diagnostics 36% EMPLOYEES RoW 16% Immunodiagnostics 50% 53%IN NORTH AMERICA Licensed 34%IN EUROPE North America Technologies Direct 14% 49% G R OUP OV E R V
Slide 6: Immunodiagnostics
IMMUNODIAGNOSTICS DiaSorin
Slide 7: Keep Focusing on Specialties
KEEP FOCUSING ON SPECIALTIES HIGH-ROUTINE TESTS SPECIALTY TESTS 2019 42 76 +4 +9 TODAY 46 85 +1 +13 PIPELINE 2022-2025 47 98 Respiratory Diseases Transplant Monitoring Gastro Intestinal Health Endocrinology CLINICAL AREAS Inflammation biomarkers – Disease severity Paediatric Infectious Diseases I M
Slide 8: Immunodiagnostics
I M M UN ODI AGN OS T I CS M OLE CULAR D I AGN OS T I CS L I CE N S E D T E CHN OLOGI E S
Slide 9: LIAISON QuantiFERON Franchise
LIAISON ® QUANTIFERON ® FRANCHISE POTENTIAL NEW APPLICATIONS IN THE FUTURE LATENT LYME DISEASE TUBERCULOSIS I M M UN ODI AGN OS T I CS M OLE CULAR D I AGN OS T I CS L I CE N S E D T E CHN OLOGI E S
Slide 10: Latent Tuberculosis Update
LATENT TUBERCULOSIS UPDATE SUCCESS OF THE PROGRAM PROGRAM ALMOST COMPLETED PROGRAM IN PROGRESS > 480 existing customers > 150 existing customers over an estimated Total Addressable Market of 500+ accounts + Hospitals strategy through LIAISON® XS I M M UN ODI AGN OS T I CS M OLE CULAR D I AGN OS T I
Slide 11: LIAISON LymeDetect
LIAISON ® LYMEDETECT ® QIAGEN QUANTIFERON TECHNOLOGY AND DIASORIN SEROLOGY TESTING COMBINED TO PROVIDE INCREASED SENSITIVITY IN ACUTE INFECTION DRIVING ANTIBIOTIC THERAPY DECISI ON Lyme IgG Lyme IgM Lyme QFT I M M UN ODI AGN OS T I CS M OLE CULAR D I AGN OS T I CS L I CE N S E D T E CHN OLOGI E S
Slide 12: The Host Response Company
The Host Response Company™ I M M UN ODI AGN OS T I CS M OLE CULAR D I AGN OS T I CS L I CE N S E D T E CHN OLOGI E S
Slide 13: I M M UN ODI AGN OS T I CS M OLE CULAR D
I M M UN ODI AGN OS T I CS M OLE CULAR D I AGN OS T I CS L I CE N S E D T E CHN OLOGI E S
Slide 14: I M M UN ODI AGN OS T I CS M OLE CULAR D
I M M UN ODI AGN OS T I CS M OLE CULAR D I AGN OS T I CS L I CE N S E D T E CHN OLOGI E S
Slide 15: I M M UN ODI AGN OS T I CS M OLE CULAR D
I M M UN ODI AGN OS T I CS M OLE CULAR D I AGN OS T I CS L I CE N S E D T E CHN OLOGI E S
Slide 16: LIAISON XS Program Reloaded
LIAISON ® XS PROGRAM RELOADED I M M UN ODI AGN OS T I CS M OLE CULAR D I AGN OS T I CS L I CE N S E D T E CHN OLOGI E S
Slide 17: LIAISON XS Program Reloaded: Hospitals Strategy in the U.S.
LIAISON ® XS PROGRAM RELOADED: HOSPITALS STRATEGY IN THE U.S. ~700 EXISTING NEW LUMINEX CUSTOMERS CUSTOMERS TOTAL ADDRESSABLE MARKET ~1,200 HOSPITALS POTENTIAL PRODUCTS' PIPELINE QFT MEMED BV GI PANEL GROWTH FERTILITY Latent TB, Lyme Total, G & M Calpro, Elastase, H.pylori HGH, IGF-1 Estradiol, Prog
Slide 18: LIAISON XXL
LIAISON ® XXL I M M UN ODI AGN OS T I CS M OLE CULAR D I AGN OS T I CS L I CE N S E D T E CHN OLOGI E S
Slide 19: LIAISON XXL: Mid-to-Large Volumes
LIAISON ® XXL CURRENT SITUATION WITH LIAISON® XL POTENTIAL FUTURE WITH LIAISON® XXL MID-TO-LARGE VOLUMES ~70% of existing DiaSorin installed base is placed stand-alone (single instrument) CUSTOMERS LIAISON® XL LIAISON® XXL (Single – module) HIGH VOLUME CUSTOMERS / BIG COMMERCIAL LABS LIAISON® XXL (D
Slide 20: Molecular Diagnostics
MOLECULAR _ DIAGNOSTICS * ¢ - « DiaSorin
Slide 21: Molecular Diagnostics Offer
MOLECULAR DIAGNOSTICS OFFER SINGLE/LOW PLEX TECHNOLOGY EXISTING MENU LIAISON® MDX Respiratory Infections 12 KITS MEDIUM HOSPITALS Vector Small panels/Single Analyte ~ 400 €/mln of 2021 Borne (specific tests) pro-forma* revenues 1 KIT Real-time PCR SINGLE / LOW PLEX TESTS PLATFORMS ~ 2,700 SMALL COMM
Slide 22: LIAISON MDX Plus
LIAISON ® MDX PLUS I M M UN ODI AGN OS T I CS M OLE CULAR D I AGN OS T I CS L I CE N S E D T E CHN OLOGI E S
Slide 23: Launch of LIAISON MDX Plus
LAUNCH OF LIAISON ® MDX PLUS SINGLE/LOW PLEX TECHNOLOGY Respiratory LIAISON® MDX Infections Women’s Health Meningo- Encephalitis MEDIUM HOSPITALS SINGLE / LOW PLEX TESTS PLATFORMS Neonatal Herpes Viridae Testing S M A L L C O M M U N I T Y HOSPITALS LIAISON® MDX Plus Analyte Specific Reagents COMMER
Slide 24: Molecular Diagnostics Offer: Multiplex Technology
MOLECULAR DIAGNOSTICS OFFER MULTIPLEX TECHNOLOGY EXISTING MENU Medium/Large panels Semi-automated Multiplex PCR (Syndromic) VERIGENE® Respiratory Infections Bloodstream CNS Infections (Meningitis) ~ 100 €/mln of 2021 pro-forma* revenues PLATFORMS MULTIPLEX HOSPITAL / ~ 1,100 REFERENCE PANELS install
Slide 25: LIAISON PLEX
LIAISON ® PLEX I M M UN ODI AGN OS T I CS M OLE CULAR D I AGN OS T I CS L I CE N S E D T E CHN OLOGI E S
Slide 26: Launch of LIAISON PLEX
LAUNCH OF LIAISON ® PLEX MULTIPLEX TECHNOLOGY VERIGENE® Respiratory Infections Bloodstream CNS Infections (Meningitis) PLATFORMS MULTIPLEX HOSPITAL / PANELS REFERENCE LABS CLINICAL LABS MAGPIX® Genetics/Cystic Luminex® 100/200 Gastro-Intestinal Fibrosis I M M UN ODI AGN OS T I CS M OLE CULAR D I AGN
Slide 27: Flex the Plex
FLEX THE PLEX Users choose Full Panel or Flex Testing, unmasking additional results with Flex Credits Key Flex customers view fewer targets at a reduced cost, but can unmask additional differentiating features results as needed using Flex Credits Customers pay only for tests selected Flexibility & S
Slide 28: LIAISON NES
LIAISON ® NES I M M UN ODI AGN OS T I CS M OLE CULAR D I AGN OS T I CS L I CE N S E D T E CHN OLOGI E S
Slide 29: LIAISON NES
LIAISON ® NES WIDE MENU AVAILABLE ON A RELIABLE, Main target EASY-TO-USE AND PROFESSIONAL POINT-OF-CARE PLATFORM, FITTING WITH clients/Channel THE DECENTRALIZED SETTING’S NEEDS PHYSICIANS PHARMACY Cloud connection and streamlined data transfer Technology on par with the laboratory offerings HOSPITAL
Slide 30: Point of Care Benefits
POINT OF CARE BENEFITS Reduced clinic visits TIME Earlier discharge Less admissions Prompt treatment prescription COST Reduced staff, equipment CARE Patient satisfaction Lower out-of-pocket Doctor relationship Lower send out Lower Insurance payouts Responsibility & empowerment Customer outreach PORT
Slide 31: Licensed Technologies
LICENSED TECHNOLOGIES
Slide 32: Licensed Technologies Overview
LICENSED TECHNOLOGIES OVERVIEW xMAP® Technology Flow Cytometry LICENSED TECHNOLOGIES (LT) ~80% of LT business ~20% of LT business I M M UN ODI AGN OS T I CS M OLE CULAR D I AGN OS T I CS L I CE N S E D T E CHN OLOGI E S
Slide 33: Licensed Technologies: Deep Dive on xMAP Technology Market
LICENSED TECHNOLOGIES: DEEP DIVE ON xMAP ® TECHNOLOGY MARKET 25+ YEARS OF EXPERIENCE IN MULTIPLEXING WITH THE LUMINEX xMAP® VERSATILE MICROSPHERES ~75% B2B • Immunodiagnostic • Transplant diagnostic • Protein RESEARCH / ~25% ACADEMIA • Vaccine development • Drug discovery • Cancer Research 2011 2013
Slide 34: xMAP Technology: Partnership Opportunities
TECHNOLOGY: xMAP ® PARTNERSHIP OPPORTUNITIES EXISTING LONG-TERM PARTNERSHIPS… …AND ADDITIONAL OPPORTUNITIES •80+ Partners investing in the technology •Long-term contractual partnerships •New Business Development •Opportunities in large markets xMAP® TECHNOLOGY: INNOVATION AT THE EDGE FOR PARTNERS TH
Slide 35: Financials
FINANCIALS DiaSorin
Slide 36: 2022 Outlook & 2025 Guidance: Total Sales
2 0 2 2 O U T L O O K & 2 0 2 5 G U I D A N C E @ C E R *: T O T A L S A L E S SPECIAL PROGRAMS: ~€/MLN 150 CONTRIBUTION @ 2025 1 LIAISON® NES LIAISON® LymeDetect LIAISON® MeMed BV® F I N AN CI AL O UT LOOK *IN ORDER TO ALLOW COMPARABILITY ACROSS YEARS, ALL FINANCIAL DATA HAS BEEN RESTATED AT CONSTA
Slide 37: 2022 Outlook & 2025 Guidance: Sales by Technology
2 0 2 2 O U T L O O K & 2 0 2 5 G U I D A N C E @ C E R *: S A L E S B Y T E C H N O L O G Y 1 F I N AN CI AL O UT LOOK *In order to allow comparability across years, all financial data has been restated at constant exchange rate (with regards to the US Dollar 1.16 USD per EUR) Indicative graphic on
Slide 38: 2022 Outlook & 2025 Guidance: Sales by Geography
2 0 2 2 O U T L O O K & 2 0 2 5 G U I D A N C E @ C E R *: S A L E S B Y G E O G R A P H Y 1 F I N AN CI AL O UT LOOK *In order to allow comparability across years, all financial data has been restated at constant exchange rate (with regards to the US Dollar 1.16 USD per EUR) Indicative graphic only
Slide 39: Revenues Comparison: 2019 Actual - 2025 Guidance
REVENUES COMPARISON: 2019 ACTUAL - 2025 GUIDANCE @CER* BY GEOGRAPHY 44% Europe Direct 30% Europe Direct 2019A 29% North America Direct 49% North America Direct 2025E 27% RoW 18% RoW 1 3% COVID BY TECHNOLOGY 57% Immunodiagnostics 91% Immunodiagnostics 23% Molecular Diagnostics 2019A 9% Molecular Diag
Slide 40: Group Synergies After Luminex Acquisition
GROUP SYNERGIES AFTER LUMINEX ACQUISITION @CER* Total expected synergies: MAIN DRIVERS OF COST SYNERGIES: ~$ 90 million in 2025 Platform consolidation Geographic Footprint rationalization ~30 Operations and Supply Chain optimization $/mln Organization integration and right-sizing ~60 MAIN DRIVERS OF
Slide 41: 2022 Outlook & 2025 Guidance: Adjusted EBITDA Margin
2022 OUTLOOK & 2025 GUIDANCE @CER* ADJUSTED EBITDA** MARGIN • High operating leverage driven by • Gross Margin dilution due to product mix • Gross Margin improvement partially offset by COVID volumes royalties on partnership products and product • Reduction of COVID Volumes lower mix operating lever
Slide 42: Net Debt / Adjusted EBITDA
N E T D E B T / A D J U S T E D E B I T D A * @ C E R ** ~1,000 F I N AN CI AL O UT LOOK * Without non-recurring Luminex acquisition and integration costs Indicative graphic only, not to scale **In order to allow comparability across years, all financial data has been restated at constant exchange r
Slide 43: 2022 Outlook & 2025 Guidance
2022 OUTLOOK & 2025 GUIDANCE @CER* 2021e 2022e 2025e Notes 22-25 CAGR Revenues ~€ 1,230 mln ~€ 1,210 mln ~€ 1,500 mln ~ +7% with Covid ~ +10% ex Covid 22-25 Adj. EBITDA** CAGR Adjusted EBITDA** margin ~43% ~35% ~38% ~ +10% Cumulative 22-25 Capex: Free Cash Flow ~€ 300 mln Cumulative 22-25: ~€ 1,100