Metir Plc · LSE:MET
Metir — Microsaic Systems — H1 2019 Earnings Presentation
20 slides from Metir's earnings presentation, September 2019
Slide 1: Microsaic Systems plc Interim Results 2019
Microsaic Systems plc Interim Results 2019 Investor Presentation September 2019 CEO: Glenn Tracey FD: Bevan Metcalf Confidential. ©Microsaic Systems 2019
Slide 2: Introductions
INTRODUCTIONS PETER GRANT – NON EXECUTIVE CHAIRMAN 40 years experience, half at listed company board level, covering both London main market (up to FTSE 250) and AIM, including Skyepharma PLC, WorldPay Group plc, Molins PLC and various senior positions at The General Electric Co. PLC Group GLENN TRA
Slide 3: About Microsaic Systems
ABOUT MICROSAIC SYSTEMS Significant opportunity in bioprocessing point of need mass spectrometry (MS) • Biologics end market, c $200Bn CAGR 10%* • Addressable upstream instrumentation market circa $390M** Microsaic has well invested and proven IP, and is revenue generating today Substantial differen
Slide 4: 2019 Progress
2019 PROGRESS 30% 35% £4.1m Revenues Instrument Revenues Cash Balances Total revenues of £0.33m are 30% Instrument sales grew 35% while consumable Cash at 30 June 2019 £4.1m higher than H1 2018 (£0.25m) and service income grew by 10.8% Confidential. ©Microsaic Systems 2019 4
Slide 5: Growth Opportunities
GROWTH OPPORTUNITIES Strategic focus areas: Immediate sales growth in traditional analytical chemistry market through OEMs and distributors with global channel New for 2020: MS bundled with selected front-end technologies to make complete systems, and sold via direct sales channel in UK and EU, plus
Slide 6: H1 2019 Key Events
H1 2019 KEY EVENTS Launch of Protein ID Validation of value proposition Instrument revenues +35% Partnership signings continue Progress in large molecule detection Progress in traditional markets for small molecule detection Launch of MiD® ProteinID, which can measure in-situ small and Instrument re
Slide 7: OEM & Distribution Signings in 2019
Already signed OEM & DISTRIBUTION SIGNINGS IN 2019 (vs situation in 2017) Signings in 2019 Targets and 2017 2019 Opportunities OEM signings in 2018 OEM signings in 2019 • Unimicro Technologies – supplier of nano • BMT - New OEM agreement signed with BMT, for the OEM Agreements Capilliary Electrophor
Slide 8: Upstream Bioprocessing Addressable Markets
UPSTREAM BIOPROCESSING ADDRESSABLE MARKETS Source: TDA consultants, 2019 Confidential. ©Microsaic Systems 2019 8
Slide 9: The ProteinID Value Proposition
THE PROTEINID VALUE PROPOSITION Why do customers want ProteinID? • Simultaneous measurement of small and large molecules • Ideally suited to measure target proteins, metabolites, feedstocks • Small footprint allows for point-of-need analysis on- line and at-line Typical bioprocessing workflow • Desi
Slide 10: Validation of Bioprocessing Market with Our Technology
VALIDATION OF BIOPROCESSING MARKET WITH OUR TECHNOLOGY Relationship with Technical and MIT augmented commercial with sponsored Publications, Early launch of validation for graduate including our ProteinID Microsaic’s students to leading journals system to technology in establish showcase our validat
Slide 11: International Commercial Strategy
INTERNATIONAL COMMERCIAL STRATEGY 2019 2020 2021 MiD / MiD / MiD / Protein MiDAS MiDAS MiDAS ID Direct/Strategic Protein Product Product Partnerships ID 1 2 System System System A A C System System System B B D MiD / MiD / MiD / Protein MiDAS MiDAS ID OEM/ MiDAS Dist. Protein Product Product ID 1 2
Slide 12: Outlook
OUTLOOK Growth of global sales Closer marketing and Launch of bundled Potential partner signings Launch of direct sales channel through sales collaborations systems with our MS, in life-science channel in EU additional OEM and with strategic partners including: applications, including distribution s
Slide 13: Financials – Comprehensive Income
FINANCIALS – COMPREHENSIVE INCOME 6 months 6 months to Year to 31 to 30 June 30 June December 2019 2018 2018 Unaudited Unaudited Audited £ £ £ Revenue 328,428 252,904 578,258 Cost of sales (223,683) (143,480) (336,685) Gross profit 104,745 109,424 241,573 Other operating income - 37,090 76,262 Micro
Slide 14: Financials – Financial Position
31 FINANCIALS – FINANCIAL POSITION 30 June 30 June December 2019 2018 2018 Unaudited Unaudited Audited £ £ £ ASSETS Non-current assets Intangible assets 104,596 62,700 95,944 Property, plant and equipment 96,846 128,710 124,155 Right of use lease assets 203,568 - - Total non-current assets 405,010 1
Slide 15: Financials – Cashflow
6 months 6 months Year to 31 to 30 June to 30 June FINANCIALS – CASHFLOW 2019 2018 December 2018 Unaudited Unaudited Audited £ £ £ Total comprehensive loss for the period (1,589,446) (1,502,410) (2,763,961) Amortisation of intangible assets 20,246 16,577 32,510 Amortisation of right of use assets 44
Slide 16: Appendices
Microsaic Systems plc APPENDICES Confidential. ©Microsaic Systems 2019
Slide 17: Other Board Members' Bios
OTHER BOARD MEMBERS’ BIOS ERIC YEATMAN – NON-EXECUTIVE DIRECTOR Co-founder and former Chairman of the Board (2004-2013). Professor of Micro-Engineering at Imperial College London and Head of Department of Electrical and Electronic Engineering, and NED of Imperial Consultants. CHRISTOPHER BUCKLEY – N
Slide 18: Corporate
CORPORATE Share Information 4.71% Share price (18.09.19) 1.45p per Executive Directors share 5.49% Shares in circulation (18..09.19) 456.37M • Glenn Tracey (CEO) PerkinElmer* 5.52% Market cap 6.62M 27.21% • Bevan Metcalf (FD) ICI*, GSK*, Orion* Debt Nil 7.49% Non-Executive Directors Significant Shar
Slide 19: Forward Looking Statements
FORWARD LOOKING STATEMENTS This presentation contains forward-looking statements regarding the Company's plans, expectations, estimates and beliefs. Forward-looking statements are typically identified by words such as "believes," "anticipates," "intends," "will," "may" and other similar expressions.
Slide 20: Microsaic Systems plc
Microsaic Systems plc Head office Microsaic Systems plc GMS House Boundary Road Woking Surrey GU21 5BX +44(0)1483 751577 info@microsaic.com Confidential. ©Microsaic Systems 2019