Ypsomed Holding Ag · SIX:YPSN

Ypsomed — H1 2009/10 Earnings Presentation

45 slides from Ypsomed's earnings presentation, Nov 3, 2009

  1. Slide 1: Presentation of Semi-Annual Results 2009/10

    Presentation of Semi-Annual Results 2009/10 Burgdorf, 3 November 2009

  2. Slide 2: Important Notice

    Important Notice The information contained in this document has not been independently verified and no representation or warranty, express or implied, is made to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained herein.

  3. Slide 3: Agenda

    Agenda  Presentation of Semi-Annual Results 2009/10 1. Summary 2. Finance 3. Business Update 4. Outlook  Questions and Answers 3 Ypsomed Holding AG | Presentation of Semi-Annual Results 2009/10

  4. Slide 4: Semi-Annual Results 2009/10

    Semi-Annual Results 2009/10  Business year 2009/10 is focused on build-up and development.  Strategic objective is to further expand the company’s sales basis in the growth markets of self-medication and diabetes while raising profitability in a sustainable manner.  In the Business-to-Business ar

  5. Slide 5: Semi-Annual Results 2009/10 highlights

    Semi-Annual Results 2009/10  In the first six months of the 2009/10 business year, Ypsomed generated consolidated sales of CHF 126.8 million and an operating profit of CHF 6.8 million, which corresponds to an EBIT margin of 5.4%.  Sales in the diabetes direct business increased by 5.4%, but did no

  6. Slide 6: Key Figures at a Glance 2009/10

    Key Figures at a Glance 2009/10 CHF million H1 2009/10 H1 2008/09 Δ in % Sales of goods and services 126.8 139.5 -9.1% thereof Delivery Devices 85.7 97.7 -12.4% thereof Diabetes Direct Business 34.2 32.4 5.4% thereof Others 6.9 9.3 -25.2% Gross profit 35.6 44.4 -19.8% Gross profit in % 28.1 31.8 Ope

  7. Slide 7: Successful Thanks to Competent and Motivated Employees

    Successful Thanks to Competent and Motivated Employees  Ypsomed is a secure employer thanks to good growth prospects.  As of September 30, 2009, the Ypsomed Group employed a total of 1’241 employees, thereof over 40 apprentices in seven different occupational areas. CH Outside CH 106 148 147 179 9

  8. Slide 8: Ypsomed Strategy

    Ypsomed Strategy 8 Ypsomed Holding AG | Presentation of Semi-Annual Results 2009/10

  9. Slide 9: B2C – Launch of Pura and mylife Diabetescare Brand

    B2C – Launch of Pura™ and mylife™ Diabetescare Brand 9 Ypsomed Holding AG | Presentation of Semi-Annual Results 2009/10

  10. Slide 10: B2B – Technology Platforms and Projects

    B2B – Technology Platforms and Projects Projekt zugesichert In enger Auswahl 10 Ypsomed Holding AG | Presentation of Semi-Annual Results 2009/10

  11. Slide 11: Successful Capital Increase in July 2009

    Successful Capital Increase in July 2009  The objective to further increase the equity ratio and to secure an independent financing of the growth was successfully achieved.  The capital increase amounted to CHF 96.3 million.  The shareholder loan of Dr. h.c. Willy Michel was reduced by CHF 85.5 m

  12. Slide 12: Innovative Capital Increase with Par Value Increase

    Innovative Capital Increase with Par Value Increase  The innovative capital increase by means of a par value increase will allow the payment of tax-free dividends for several additional years to our numerous Swiss private investors. 15.00 15 14.40 12.50 CHF 11.60 10.35 10 9.75 2005 2006 2007 2008 2

  13. Slide 13: Agenda

    Agenda  Presentation of Semi-Annual Results 2009/10 1. Summary 2. Finance 3. Business Update 4. Outlook  Questions and Answers 13 Ypsomed Holding AG | Presentation of Semi-Annual Results 2009/10

  14. Slide 14: Growth in the Diabetes Direct Business – Decrease in Pen Sales

    Growth in the Diabetes Direct Business – Decrease in Pen Sales CHF million H1 2009/10 H1 2008/09 Δ in % Segment “Delivery Devices” 85.7 97.7 -12.4% Segment “Diabetes Direct Business” 34.2 32.4 5.4% Segment Others 6.9 9.3 -25.2% Total Sales of goods and services 126.8 139.5 -9.1%  The segment “Deliv

  15. Slide 15: Production Build-Up and Launch of Pura Impacts Short-term Profitability

    Production Build-Up and Launch of Pura™ Impacts Short-term Profitability CHF million H1 2009/10 in % H1 2008/09 in % Δ in % Total Sales of goods and services 126.8 100.0% 139.5 100.0% -9.1% Cost of goods and services sold -91.2 -71.9% -95.0 -68.2% -4.1% Gross profit 35.6 28.1% 44.4 31.8% -19.8% Lice

  16. Slide 16: EBITDA-Margin of 14.3%

    EBITDA-Margin of 14.3% CHF million H1 2009/10 in % H1 2008/09 in % Δ in % Operating profit 6.8 5.4% 16.5 11.8% -58.5% Depreciation of fixed assets 9.6 7.5% 10.2 7.3% -6.3% Amortization of intangible assets 1.6 1.2% 0.8 0.6% 93.8% EBITDA 18.0 14.3% 27.5 19.9% -34.7% 16 Ypsomed Holding AG | Presentati

  17. Slide 17: Net Earnings of CHF 6.6 million

    Net Earnings of CHF 6.6 million CHF million H1 2009/10 in % H1 2008/09 in % Δ in % Operating profit 6.8 5.4% 16.5 11.8% -58.5% Financial income 1.0 0.8% 1.0 0.7% -7.2% Financial expense -0.6 -0.5% -1.8 -1.3% -64.0% Profit before income taxes 7.2 5.7% 15.8 11.3% -54.6% Income taxes -0.6 -0.4% -2.1 -1

  18. Slide 18: Total Investment of CHF 25.9 million

    Total Investment of CHF 25.9 million CHF million 30.09.2009 in % 31.03.2009 in % 30.09.2008 in % Assets Cash and cash equivalents 3.2 0.5% 9.0 1.4% 15.0 2.4% Marketable securities 2.4 0.4% 2.3 0.4% 9.3 1.5% Trade receivables 29.1 4.5% 30.6 4.8% 28.3 4.5% Other current assets 11.6 1.8% 10.3 1.6% 11.6

  19. Slide 19: Successful Capital Increase Improves Equity Ratio to a high 82.2%

    Successful Capital Increase Improves Equity Ratio to a high 82.2% CHF million 30.09.2009 in % 31.03.2009 in % 30.09.2008 in % Liabilities and equity Financial liabilities 6.1 0.9% 0.0 0.0% 0.0 0.0% Trade payables 12.9 2.0% 15.1 2.4% 13.8 2.2% Prepayments from customers 5.6 0.9% 4.7 0.7% 5.2 0.8% Cur

  20. Slide 20: Positive Operating Cash Flow – Shareholder Loan Reduced

    Positive Operating Cash Flow – Shareholder Loan Reduced by CHF 85.5 to CHF 54.4 million CHF million H1 2009/10 H1 2008/09 Δ in % Cash flow from operating activities before changes in net working capital 17.7 27.5 -35.8% Change in net working capital -5.3 -5.6 -5.0% Cash flow from operating activitie

  21. Slide 21: Agenda

    Agenda  Presentation of Semi-Annual Results 2009/10 1. Summary 2. Finance 3. Business Update 4. Outlook  Questions and Answers 21 Ypsomed Holding AG | Presentation of Semi-Annual Results 2009/10

  22. Slide 22: Ypsomed's new Brand

    Ypsomed‘s new Brand  In order to achieve a unified market appearance and create proximity to its patients a new umbrella brand was defined that encompasses all of Ypsomed’s diabetescare products.  This shall increase market presence as well as underline Ypsomed’s diabetes competence.  Synergies b

  23. Slide 23: mylife – Launch at the EASD in Vienna

    mylife™ – Launch at the EASD in Vienna 23 Ypsomed Holding AG | Presentation of Semi-Annual Results 2009/10

  24. Slide 24: mylife – Launch at the EASD in Vienna

    mylife™ – Launch at the EASD in Vienna 24 Ypsomed Holding AG | Presentation of Semi-Annual Results 2009/10

  25. Slide 25: mylife – New Brochures

    mylife™ – New Brochures 25 Ypsomed Holding AG | Presentation of Semi-Annual Results 2009/10

  26. Slide 26: mylife – New Packaging

    mylife™ – New Packaging 26 Ypsomed Holding AG | Presentation of Semi-Annual Results 2009/10

  27. Slide 27: Launch of the Blood Glucose Monitoring System Pura

    Launch of the Blood Glucose Monitoring System Pura™  The blood glucose monitoring system Pura™ enhances the diabetes product offering and strengthens the diabetes business of Ypsomed.  Ypsomed started sales of the Pura™ blood glucose monitoring system in Germany in May and in France in September.

  28. Slide 28: mylife – Blood Glucose Monitoring System Pura

    mylife™ – Blood Glucose Monitoring System Pura™ 28 Ypsomed Holding AG | Presentation of Semi-Annual Results 2009/10

  29. Slide 29: mylife – Pura Stickers and Silicone Cases

    mylife™ – Pura™ Stickers and Silicone Cases 29 Ypsomed Holding AG | Presentation of Semi-Annual Results 2009/10

  30. Slide 30: Sales of Blood Glucose Monitoring Systems

    Sales of Blood Glucose Monitoring Systems Free of charge “pay for play” Monthly fee plus charge per minute Prescription and/or OTC 30 Ypsomed Holding AG | Presentation of Semi-Annual Results 2009/10

  31. Slide 31: Strategic Expansion of the Product Portfolio

    Strategic Expansion of the Product Portfolio + + User of Pen-Needles = Frequent Testing = Insulin pump users = frequent testing 2 - 6 measurements per day 6 - 8 measurements per day 31 Ypsomed Holding AG | Presentation of Semi-Annual Results 2009/10

  32. Slide 32: Cooperation with Bionime Intensified

    Cooperation with Bionime Intensified  Close cooperation with Bionime for the market launch of Pura™ in Europe  Negotiations concerning an increase in Ypsomed’s holding in Bionime Corp. did for the time being not lead to a mutually satisfying result.  Increase in value of CHF 1.3 million of the 10

  33. Slide 33: Further Expanding the Pen Needles Business

    Further Expanding the Pen Needles Business  Successfully signed contracts with new distributors in Canada, Egypt, Greece, Italy, Morocco and Tunisia.  The ramp-up of the new pen needle production facility in Solothurn took somewhat longer than planned, and is now anticipated for the end of 2009. 

  34. Slide 34: Patent Families – New Licences Revenues

    315 Patent Families – New Licences Revenues  In the first half of the business year 2009/10 Ypsomed has invested a total of CHF 15.6 million in research and development  Presently, Ypsomed holds approx. 315 patent families in the areas of injection systems, auto-injectors and pen needles.  In the

  35. Slide 35: Injection Systems for Diabetes: ServoPen, LyoTwist Trio Pen and UnoPen

    Injection Systems for Diabetes: ServoPen®, LyoTwist™ Trio Pen and UnoPen  Ypsomed offers a broad range of injection systems for insulin and other medicines for the treatment of diabetes, including GLP-1.  Ypsomed has recently been generating great interest especially with the single use LyoTwist™

  36. Slide 36: Ypsomed Wins Three New Client Projects – One Project Stopped

    Ypsomed Wins Three New Client Projects – One Project Stopped  Ypsomed strengthens its position in the growth market China by renewing the partnership with Dongbao, a leading Chinese producer of insulin, for another five years. Ypsomed will continue to launch new and innovative products together wit

  37. Slide 37: Different Product Mix Within the Pen Systems Business

    Different Product Mix Within the Pen Systems Business  The production build-up for components of the SoloStar® insulin pen from Sanofi-Aventis is running according to plan so that the first batches will be produced and shipped in November 2009.  While the production volumes in the SoloStar® area w

  38. Slide 38: Agenda

    Agenda  Presentation of Semi-Annual Results 2009/10 1. Summary 2. Finance 3. Business Update 4. Outlook  Questions and Answers 38 Ypsomed Holding AG | Presentation of Semi-Annual Results 2009/10

  39. Slide 39: Ypsomed Plans New Product Launches

    Ypsomed Plans New Product Launches 39 Ypsomed Holding AG | Presentation of Semi-Annual Results 2009/10

  40. Slide 40: Optimization of Operational Structure and Cost Reduction

    Optimization of Operational Structure and Cost Reduction The reasons for the optimization of the operational and staffing structure are as follows: Changes in the product mix within the Delivery Devices Business Reduction of production volumes for OptiSet®, OptiClik® und OptiPen® Pro Increased pr

  41. Slide 41: Outlook 2009/10

    Outlook 2009/10  Ypsomed is very well positioned in the growth markets self-medication and diabetes and plans a number of new product launches in the future.  In the short-term, the expected sales for 2009/10 depend greatly on the changed product mix for Sanofi-Aventis and the market success of Pu

  42. Slide 42: Promising Mid-term Growth Prospects

    Promising Mid-term Growth Prospects  The guidance for the 2010/11 business year will be confirmed in spring 2010.  Strong sales growth and an improvement of the EBIT margin within the next years returning to above 15% is realistic, depending on: - The blood glucose monitoring system Pura™ reaches

  43. Slide 43: Important Dates

    Important Dates  Presentation of Annual Results 2009/10: 25th May 2010 in Burgdorf  Annual Shareholder Meeting: 23rd June 2010 BEA bern expo in Bern  Presentation of Semi-Annual Results 2010/11 9th November 2010 in Solothurn 43 Ypsomed Holding AG | Presentation of Semi-Annual Results 2009/10

  44. Slide 44: Agenda

    Agenda  Presentation of Semi-Annual Results 2009/10 1. Summary 2. Finance 3. Business Update 4. Outlook  Questions and Answers 44 Ypsomed Holding AG | Presentation of Semi-Annual Results 2009/10

  45. Slide 45: Questions & Answers

    Questions & Answers 45 Ypsomed Holding AG | Presentation of Semi-Annual Results 2009/10

Ypsomed Holding — H1 2009/10 Earnings Presentation on 6ix