Slide 1: Q4 Presentation 2020
Q4 Presentation 2020 February 11th, 2021 Hilja Ibert, CEO Njaal Kind, CFO
Slide 2: Important notice
Important notice This presentation has been prepared by and is the sole responsibility of Gentian Diagnostics AS (the “Company” or “Gentian”). The presentation is furnished to you solely for your information and may not be reproduced or redistributed, in whole or in part, to any other person. The in
Slide 3: Agenda
1. Introduction and highlights 2. Q4 Financials 3. Growth opportunities 4. Outlook 3
Slide 4: Gentian is dedicated to the diagnostics market
Gentian is dedicated to the diagnostics market Clinical chemistry 9.1BUSD • Focus on the immunochemistry segment • Detection and quantification of biomarkers which support the 17.5B USD diagnosis of inflammations, severe infections, kidney failures and congestive heart failures 51.1BUSD • Estimated
Slide 5: Moving immunoassays to clinical chemistry/PETIA
Moving immunoassays to clinical chemistry/PETIA Making them available for high-throughput, fast and cost-effective instruments
Slide 6: We innovate diagnostic efficiency
We innovate diagnostic efficiency
Slide 7: Highlights for Q4 2020
Highlights for Q4 2020 Gentian finished the year with record sales of MNOK 17.2 in the 4Q20 which corresponds to 22 % growth versus 4Q19 Total sales revenue for the year was MNOK 63.3 representing a 32 % growth (22 % adjusted for currency effects) compared to the same period last year Double d
Slide 8: Continued double digit product sales growth
Continued double digit product sales growth NOK ‘000 Annual Sales Growth 70 000 32 % 60 000 Gentian continues to deliver double 20 % digit sales growth year after year 50 000 43 % 40 000 Sales growth from all products and 15 % regions in 2020 30 000 20 % 20 000 Sales growth expected in 2021 ag
Slide 9: Agenda
1. Introduction and highlights 2. Q4 Financials 3. Growth opportunities 4. Outlook 9
Slide 10: Financial highlights 4Q 2020
Financial highlights 4Q 2020 MNOK 4Q 2020 4Q 2019 Sales 17.2 14.1 Other Revenues 6.6 2.5 Total Revenues 23.8 16.6 COGS 9.1 6.6 R&D Costs 10.0 7.6 SG&A 8.3 9.7 Capitalization -2.5 -1.2 OPEX 24.9 22.7 EBITDA -1.1 -6.1 EBIT -3.1 -7.6
Slide 11: Financial highlights per 4Q 2020
Financial highlights per 4Q 2020 MNOK 2020 2019 Sales 63.3 48.0 Other Revenues 15.6 7.4 Total Revenues 78.9 55.4 COGS 32.6 25.5 R&D Costs 27.3 22.3 SG&A 33.6 31.7 Capitalization -3.4 -3.1 OPEX 90.1 76.4 EBITDA -11.2 -21.0 EBIT -17.8 -41.2 EBIT 2019 includes an impairment charge of MNOK 14.1
Slide 12: Sales and revenues
Sales and revenues Consolidated Revenues (NOK) Sales revenues - geographic split MNOK 4Q20 4Q19 2020 2019 US 0.7 0.6 3.0 2.0 30 000 000 Europe 13.0 11.3 45.4 34.1 25 000 000 Asia 3.6 2.2 14.9 11.8 20 000 000 Total 17.2 14.1 63.3 48.0 15 000 000 10 000 000 Sales revenues - product split 5 000 000 MNO
Slide 13: Sales Cystatin C
Sales Cystatin C Kidney function test, diagnosis and monitoring NOK Cystatin C 9 000 000 8 000 000 Increase of 69 % compared to 4Q19, increase of 7 000 000 31 % for the full year 6 000 000 5 000 000 Sales to Asian market back to normal, 95% growth 4 000 000 in sales to Europe compared to 4Q 2019
Slide 14: Sales fCAL turbo
Sales fCAL® turbo Test for inflammatory bowel disease (IBD), diagnosis and monitoring NOK fCAL® turbo 8 000 000 Sales decrease of 12% in 4Q20 compared to 7 000 000 4Q19 due to high initial bulk sales in 4Q19. Sales growth of 19% for the full year. 6 000 000 5 000 000 Sales of fCAL® turbo recover
Slide 15: OPEX
OPEX OPEX before capitalization 20 000 000 OPEX 2020 18 000 000 16 000 000 14 000 000 12 000 000 OPEX 10 000 000 46 % 8 000 000 R&D 54 % 6 000 000 4 000 000 2 000 000 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2019 2020 Total OPEX ex COGS before capitalization (4Q20): MNOK18.3
Slide 16: Cash flow and cash position
Cash flow and cash position MNOK 4Q20 2020 2019 Operating activities 7.5 -9.7 - 23.1 Investing activities - 2.6 - 4.6 - 4.7 Financing activities 0.9 0.7 0.7 Changes in cash and cash equivalent 5.7 - 13.6 -27.1 Cash and cash equivalent at the beginning of period 152.3 171.6 198.6 Cash and cash equiva
Slide 17: Agenda
1. Introduction and highlights 2. Q4 Financials 3. Growth opportunities 4. Outlook 18
Slide 18: Strategy for sustainable double-digit sales growth
Strategy for sustainable double-digit sales growth One new product per year Competitive conversions Increased market demand due to positive clinical impact 19
Slide 19: GCAL
GCAL® Calprotectin immunoassay from serum and plasma
Slide 20: GCAL: Novel biomarker in market development
GCAL® : Novel biomarker in market development Potential biomarker for early detection, prognosis of disease severity and mortality of sepsis and other severe infections Scientific studies show increased levels of calprotectin in COVID-19 patients and indicating the prognostic value of calprotect
Slide 21: Market development achievements in 2020
Market development achievements in 2020 Significant increase of interest from hospitals and laboratories from all over Europe Publications “Calprotectin, a new biomarker for diagnosis of acute respiratory infections”, Havelka et al., Sci Reports, 2020 “ Outcome prediction by serum calprotectin in pa
Slide 22: NT-proBNP
NT-proBNP (earlier referred to as G-1001) 23
Slide 23: IVD Cardiac Marker Market
IVD Cardiac Marker Market* Cardiac Cardiac Markers: NT-proBNP/BNP NT-proBNP, BNP Cardiac 1,4B USD Troponin, Myo, Troponin T, I CKMB, hsCRP CKMB 2,6BUSD Myoglobin hsCRP Major IVD Players for Cardiac Markers: Roche Diagnostics** Abbott Diagnostics Siemens Healthineers Immunochemistry Beckman Coulter 2
Slide 24: Gentian PETIA NT-proBNP Assay
Gentian PETIA NT-proBNP Assay First NT-proBNP test for high-throughput clinical chemistry analysers. Measurements of NT-proBNP are used as an aid in the diagnosis, monitoring and assessment of severity in individuals suspected of having congestive heart failure (CHF). 25 * Collin-Chavagnac et al
Slide 25: Milestones – progress update
Milestones – progress update The assay development has advanced and is running according to plan. The specification of a Gentian international patent application will be published by the WIPO in February 2021. Additional and detailed market research has been started and will be finalized by en
Slide 26: Gentian Turbidimetric NT-proBNP Assay
Gentian Turbidimetric NT-proBNP Assay The unique turbidimetric NT-proBNP assay from Gentian is aiming to address the following key customer needs: Economics: Improvement of laboratory productivity based on higher throughput in comparison to currently used assays. Quality: Contribution to the har
Slide 27: Main achievements in 2020
Main achievements in 2020 Achieved 32% total year sales growth in a COVID-19 constraint market Successful launch of fPELA New scientific publications supporting GCAL® as an infection marker and most recently as a promising biomarker for predicting severity of disease for COVID-19 patients NT
Slide 28: Agenda
1. Introduction and highlights 2. Q4 Financials 3. Growth opportunities 4. Outlook 29
Slide 29: Outlook
Outlook The company estimates continued double digit sales growth in 2021 versus 2020, with expected quarterly variations and so far, unpredictable effects of the COVID-19 outbreak. For Cystatin C, the company expects continued growth in 2021 versus 2020, with the majority of the growth arriving
Slide 30: Get in touch with us
Get in touch with us www.gentian.com – info@gentian.com HQ GENTIAN AS Bjørnåsveien 5, 1596 Moss, Norway GENTIAN DIAGNOSTICS AB Kungsgatan 8111 43 Stockholm, Sweden GENTIAN USA INC. 215 N Eola Dr, Orlando, Florida US BEIJING REP. OFFICE Chaoyangmen Outer St Jia No.10 Chaoyang District, Beijing, China