Biomerieux Sa · EURONEXT:BIM
Biomerieux Sa — H1 2021 Earnings Presentation
22 slides from Biomerieux Sa's earnings presentation, Sep 1, 2021
Slide 1: H1 2021 Results & Outlook
H1 2021 Results & Outlook September 1st, 2021 PIONEERING DIAGNOSTICS
Slide 2: Disclaimer
DISCLAIMER • This presentation contains information, assumptions and estimates that were used by the Company to determine its objectives on a reasonable basis. They are subject to change or modification due to economic, financial, medical and competitive uncertainties in markets addressed by bioMéri
Slide 3: Agenda
AGENDA OVERVIEW of bioMérieux H1 2021 ACTIVITY REVIEW H1 2021 FINANCIAL RESULTS 2021 OUTLOOK BIOMÉRIEUX 3
Slide 4: At a Glance – 2020 Figures
AT A GLANCE – 2020 FIGURES + 55 YEARS OF EXPERTISE IN IN VITRO DIAGNOSTICS CLINICAL INDUSTRIAL APPLICATIONS APPLICATIONS 85% of revenues 15% of revenues Sales amounting to Strong commitment 12,800 93% of 1,900 people €3.1 billion About employees worldwide international sales dedicated to R&D to inno
Slide 5: Mission, Strategy and Strengths
MISSION, STRATEGY AND STRENGTHS PIONEERING DIAGNOSTICS To improve public health, focused on the fight against infectious diseases MICROBIOLOGY MOLECULAR BIOLOGY IMMUNOASSAYS Two leadership positions in both clinical Leader in the syndromic diagnosis Specialized high medical value offer and industria
Slide 6: Provides Solutions to Manage and Prevent Infectious Diseases and Improve Patient Care
PROVIDES SOLUTIONS TO MANAGE AND PREVENT INFECTIOUS DISEASES AND IMPROVE PATIENT CARE PROTECTING consumers' health Antimicrobial RESISTANCE INCREASING customers' productivity SEPSIS & Respiratory EMERGENCY INFECTIONS care
Slide 7: Agenda
AGENDA OVERVIEW of bioMérieux H1 2021 ACTIVITY REVIEW H1 2021 FINANCIAL RESULTS 2021 OUTLOOK BIOMÉRIEUX BIOMÉRIEUX
Slide 8: Key Takeaways – H1 2021 Performance
KEY TAKEAWAYS – H1 2021 PERFORMANCE SALES PROFITABILITY BUSINESS TRENDS €1,574m €374m Molecular biology +12.3% 23.8% of sales at constant exchange rates and scope of consolidation vs. 17.1% in H1 2020 Microbiology Immunoassays FREE CASH FLOW LEVERAGE €145m 0.1x EBITDA Industry BIOMÉRIEUX
Slide 9: BIOFIRE Leading Multiplexing Testing
BIOFIRE® LEADING MULTIPLEXING TESTING BIOFIRE® Panels Sales +79% • Key Growth drivers: Key Syndromic breakdown Respiratory: Japan & Northen EU Diagnostic solution Respiratory Other panels: US & Europe Installed base Other panels • Joint Infections panel under FDA review @ 20,100 units X2 in 18 m
Slide 10: 2021 H1: A Rich Portfolio of Product Launches
2021 H1: A RICH PORTFOLIO OF PRODUCT LAUNCHES MICROBIOLOGY SPECIFIC REVEAL VITEK MS Rapid-AST PRIME Co-Distribution MOLECULAR / Sequencing De Novo Respiratory 2.1 EPISEQ BIOFIRE SARS-COV-2 IMMUNOASSAY SARS-COV-2 II semi NEPHROCHECK TB IGRA Dengue quantitative VIDAS VIDAS VIDAS VIDAS Jan. Feb. Mar. A
Slide 11: Solid Growth in Clinical Microbiology
SOLID GROWTH IN CLINICAL MICROBIOLOGY Newly launched VITEK MS +13% ORGANIC SALES PRIME GROWTH • Growing vs pre-pandemic levels • Performance led by automated ID/AST and Blood Culture, particularly in North America & ASPAC • Good progress on Vitek MS Prime controlled launch • Co-exclusive distributio
Slide 12: Strong Momentum in Other Ranges
STRONG MOMENTUM IN OTHER RANGES IMMUNOASSAYS INDUSTRY APPLICATIONS +29% +17% ORGANIC SALES ORGANIC SALES GROWTH GROWTH • Growth fueled by both COVID-19 related • Recovery confirmed in all regions. Strong parameters and routine testing Equipment installations in Q1 and Q2. Reagents sales back to robu
Slide 13: Agenda
AGENDA OVERVIEW of bioMérieux H1 2021 ACTIVITY REVIEW H1 2021 FINANCIAL RESULTS 2021 OUTLOOK BIOMÉRIEUX BIOMÉRIEUX
Slide 14: H1 2021 Sales by Application
H1 2021 SALES BY APPLICATION: Solid performance of microbiology, immunoassays & industry €54m 3% €538m 34% INDUSTRY +17% MOLECULAR +3% €244m 16% GROUP €1,574m +12.3% €241m 15% €496m IMMUNOASSAYS +29% 32% MICROBIOLOGY +13% Clinical applications (84%) +12% MICROBIOLOGY +13% BIOMÉRIEUX
Slide 15: BIOFIRE Growing IB & Non RP Panels in H1
BIOFIRE® GROWING IB & NON RP PANELS IN H1 Installed base • First Semester increase: 60% US / 40% OUS 20 100 80% Sold / 20% Placed 17 300 10 400 • In the US, ~40% of H1 installations were to new customers Dec. 2019 Dec. 2020 Jun. 2021 BIOFIRE® Respiratory panels in US After slowing down at end of
Slide 16: H1 2021 Sales by Geography
H1 2021 SALES BY GEOGRAPHY: Strong momentum in EMEA & ASPAC HY 2021 REVENUES €1,574m AMERICAS EMEA ASPAC €732m €549m €293m 46% of sales 35% of sales 19% of sales ORGANIC GROWTH +5% +18% +25% +12.3% BIOMÉRIEUX
Slide 17: H1 2021 Sales
H1 2021 SALES Currency Change in scope of Organic effect consolidation growth + € 182m - € 84m €1,574m €1,476m - €0m 0m USD (1) - €62m LatAm (2) - €9m +12.3% Asia (3) - €8m Metera (4) - €5m HY 2020 + 6.6% HY 2021 (1) Including HKD (2) ARS, BRL, CLP, COP, MXN (3) JPI, INR, CNY, KRW, SGD, THB (4) TRY,
Slide 18: H1 2021 P&L
H1 2021 P&L: Contributive Operating Income up 59% like-for-like In €m H1 As a % H1 As a % % change % change of sales of sales as reported at constant 2021 2020 exchange rates and scope Net sales 1,574 100% 1,476 100% + 6.6% + 12.3% Cost of sales -659 - 41.9% -660 -44.7% - 0.1% + 4.8% Gross profit 91
Slide 19: H1 2021 Cash Flow Statement
H1 2021 CASH FLOW STATEMENT Inventory: - €57m In €m H1 2021 H1 2020 Payables: - €11m EBITDA (1) 471 345 Receivables: +€62m Social & tax debts: - €64m Working capital requirement - 86 - 22 Others: - €17m Income tax paid & financial charges - 102 - 68 Other cash flow from operations 6 18 Capex 9% of S
Slide 20: Agenda
AGENDA OVERVIEW of bioMérieux H1 2021 ACTIVITY REVIEW H1 2021 FINANCIAL RESULTS 2021 OUTLOOK BIOMÉRIEUX BIOMÉRIEUX 21
Slide 21: 2021 Outlook
2021 OUTLOOK Neutral to mid-single digit growth rate Evolving business & pandemic environment Revenues at constant exchange rates Full-year FX impact estimated in line with H1 impact & scope of consolidation Contributive Estimated €30-35m of negative FOREX impacts operating income In lin
Slide 22: Pioneering Diagnostics
BIOMERIEUX PIONEERING DIAGNOSTICS