Vitrolife Ab · OMXSTO:VITR
Vitrolife Ab — Q2 2021 Earnings Presentation
13 slides from Vitrolife Ab's earnings presentation, Jul 15, 2021
Slide 1: Interim report January – June 2021
VITROLIFE AB (PUBL) Interim report January – June 2021 2021-07-15 Thomas Axelsson, CEO Mikael Engblom, CFO 1
Slide 2: Good growth and acquisition of Igenomix
GOOD GROWTH AND ACQUISITION OF IGENOMIX Q2: Sales of 382 MSEK (209) equals +83% in SEK. Sales increased by 94% in local currency. EBITDA of 148 MSEK (40) corresponding to a margin of 39% (19) excluding one-time costs. First half year: Sales of 761 MSEK (543) equals +40% in SEK. Sales incre
Slide 3: Sales and growth per market region
SALES AND GROWTH PER MARKET REGION SHARE OF VITROLIFE’S SALES 18% 44% 21% 17% ROLLING 12-MONTHS Q2 GROWTH RATE COMPARED TO LAST YEAR IN LOCAL CURRENCIES +176% +155% +32% +26% Total +94%* 3 * Whereof organic growth +94 percent
Slide 4: Sales and growth per division
SALES AND GROWTH PER DIVISION SEK millions, rolling 12m 1600 1400 136 91 125 129 GENOMICS +239% 54 116 102 1200 109 107 398 442 488 506 438 TECHNOLOGY +72% 1000 446 397 391 363 800 600 400 820 834 842 835 746 750 752 768 871 CONSUMABLES +91% 200 0 Quarterly growth, Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 local c
Slide 5: Key financials Group Q2
KEY FINANCIALS GROUP Q2 • Fluctuations in exchange rates negatively impacted EBITDA by 15 MSEK. • EBITDA included acquisition-related one-time costs of SEK 11 million and transport-related one-time costs of SEK 3 million. Adjusted for these items, EBITDA amounted to SEK 148 million, corresponding to
Slide 6: A unique combination across the IVF journey
A UNIQUE COMBINATION ACROSS THE IVF JOURNEY Vitrolife’s best- in-class IVF device portfolio + Igenomix’s leadership in reproductive genetic testing services 6
Slide 7: Vitrolife + Igenomix: clear strategic rationale
VITROLIFE + IGENOMIX: CLEAR STRATEGIC RATIONALE Creates a global leader in reproductive health Pro forma sales in excess of SEK 2 billion, with ambition to deliver long-term profitable growth Enables Vitrolife to expand further into the high growth IVF diagnostic testing sector Leader in rep
Slide 8: Innovative embryo evaluation and leading diagnostic tool to find window of implantation
INNOVATIVE EMBRYO EVALUATION AND LEADING DIAGNOSTIC TOOL TO FIND WINDOW OF IMPLANTATION Two of the strongest names within reproductive health into one platform to achieve successful treatment outcomes Two methods for embryo evaluation Combination improves successful treatment outcomes Best-in-class
Slide 9: Proven track record of driving attractive growth and profitability
PROVEN TRACK RECORD OF DRIVING ATTRACTIVE GROWTH AND PROFITABILITY 19% 25% 28% 21% 27% 1221 24 79 72 3 50 98 36 72 76 50 36 FY2017A PF FY2018A PF FY2019A PF FY2020A FY2021E Total Revenue excl. COVID-19 Testing COVID-19 Testing Adj. EBITDA Margin excl. COVID-19 Testing Note: FY = last twelve months a
Slide 10: Structure and terms
STRUCTURE AND TERMS Acquisition of 100% of the share capital in Igenomix for a total consideration of EUR 1,250 million (SEK 12.7 billion1) on a cash and debt free basis, from EQT and other shareholders Financed through a mix of a share issue in kind directed to the sellers, a directed share iss
Slide 11: Positive financial impact
POSITIVE FINANCIAL IMPACT Expected combined pro forma sales LTM June 2021 of SEK 2,460 million and adj. EBITDA of SEK 864 million (excl. Igenomix Covid-19 testing impact)1 Immediate top-line growth with long-term upside potential from enhanced offering Potential to realize synergies through a
Slide 12: Contact
Contact: Thomas Axelsson, CEO, taxelsson@vitrolife.com, +46 31 721 80 01 Mikael Engblom, CFO, mengblom@vitrolife.com, +46 31 721 80 14
Slide 13: Disclaimer
DISCLAIMER This presentation contains estimates and forward-looking statements, which reflect the Management’s current views with respect to the market, certain future events and financial performance. Although the statements are based upon estimates the Management believes to be reasonable, there i