Slide 1: Diasorin Q2 & HY 2008 Results
Diasorin Q2 & HY 2008 Results August 8
Slide 2: Q2 Results: income statement
Q2 Results: income statement Q2 & HY ’08 conf. call Aug, 8 2008 1
Slide 3: Q2 Revenues: solid growth
Q2 Revenues: solid growth Revenues increase by 14.1% despite of exchange rate effects (+19.0% at comparable fx), improving growth rate from previous year and sequentially, thanks to: ● Steady enlargement of Liaison installed base, around 120 additional installations in the quarter, total base to aro
Slide 4: Q2 Revenues break down: by technology
Q2 Revenues break down: by technology CLIA sales continues to drive the revenue growth: +29.8% Q208 vs. Q207 Revenues mix by technology improved towards CLIA kits, from 50.4% in Q2 07 to 57.3% in Q2 08 of total sales Q2 07 Q2 08 Instruments RIA 10,3% 11,7% Instruments RIA 10,6% 9,9% ELISA 22,2% ELIS
Slide 5: Q2 Revenues break down: by geography
Q2 Revenues break down: by geography ● In Europe, increased market share in consolidated as well as in developing markets: France + 13.7% Q2 08 vs. Q2 07 Belgium + 9.9% Q2 08 vs. Q2 07 Nordic + 80.1% Q2 08 vs. Q2 07 Distributors (Russia) + 61.6% Q2 08 vs. Q2 07 ● In North America, accelerating growt
Slide 6: Q2 Profitability: continuous improvement
Q2 Profitability: continuous improvement Operating margins continue to improve despite of lower Gross Margin vs Q2 07 (but 50 bps better than Q1 08): Gross Margins +12.8% Q2 08 vs. Q2 07 from 65.8% to 65.1% of tot sales EBITDA +26.3% Q2 08 vs. Q2 07 from 31.1% to 34.4% of tot sales EBIT +33.6% Q2 08
Slide 7: HY Results: income statement
HY Results: income statement Q2 & HY ’08 conf. call Aug, 8 2008 6
Slide 8: HY Revenues break down: by technology
HY Revenues break down: by technology CLIA sales continue to grow: +31.9% HY 08 vs HY 07 Revenues mix by technology improved towards CLIA kits, from 49.1% in HY 07 to 57% in HY 08 of total sales HY 07 HY 08 Instruments RIA Instruments RIA 10,1% 12,0% 11,0% 10,0% ELISA 22,0% ELISA 28,8% CLIA CLIA 49,
Slide 9: HY Revenues break down: by geography
HY Revenues break down: by geography ● In Europe, increased market share in consolidated as well as in developing markets: Italy + 12.2% HY 08 vs. HY 07 Belgium + 13.5% HY 08 vs. HY 07 Nordic + 77.7% HY 08 vs. HY 07 UK + 16.1% HY 08 vs. HY 07 ● In North America, accelerating growth although affected
Slide 10: HY Profitability: continuous improvement
HY Profitability: continuous improvement Operating margins continuously improved, Gross Margin in line with previous year: Gross Margins +13.5% HY 08 vs. HY 07 from 65% to 64.8% of tot sales EBITDA +25.4% HY 08 vs. HY 07 from 31% to 34.1% of tot sales EBIT +32.6% HY 08 vs. HY 07 from 24.1% to 28.1%
Slide 11: HY balance sheet & cash flow
HY balance sheet & cash flow millions € 30/06/2008 31/12/2007 Total tangible asset 32,8 33,9 Total intangible asset 65,4 65,4 Other non-current asset 9,1 9,2 Net Working Capital 56,8 46,2 Other non-current liabilities (22,0) (22,3) Net Capital Employed 142,1 132,4 Net Debt (9,4) (12,1) Total shareho
Slide 12: Solid financial structure
Solid financial structure ● Operational cash flow € 8.0 MM in HY 08 after capex for € 6.3 MM and interests for € 1.6 MM (in HY 07 € 4.3 MM after interests for € 1.8 MM) ● Net debt of € 9.4 MM (out of which € 5.5 MM for dividends payable) ● Cash and equivalents at the end of the period amount to € 14
Slide 13: Forthcoming events
Forthcoming events September 3 – 4 Goldman Sachs 5th Annual European Medtech and Healthcare Services Conference Londra September 22 – 25 2008 UBS Global Life Sciences Conference New York Q2 & HY ’08 conf. call Aug, 8 2008 12