Diasorin S.p.a. · MIL:DIA
Diasorin — 9M 2023 Earnings Presentation
18 slides from Diasorin's earnings presentation, Nov 3, 2023
Slide 1: 9M 2023 Results
9M 2023 RESULTS November 3, 2023
Slide 2: Disclaimer
DISCLAIMER In General. This disclaimer applies to this presentation and any oral No distribution of this Presentation. This Presentation is being furnished to comments of any person presenting it. This document, taken together you solely for your information and may not be reproduced, in whole or in
Slide 3: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This document contains forward-looking statements that are based on current expectations, estimates, forecasts and projections about the industries in which Diasorin operates and the beliefs and assumptions of the management of Diasorin. In addition, the management of Dias
Slide 4: Financial Highlights
FINANCIAL HIGHLIGHTS 6) Diasorin
Slide 5: Financial Highlights
FINANCIAL HIGHLIGHTS Change Change Data in €/mln Q3’23 9M’23 @ current @ CER @ current @ CER Revenues 270 -18% -13% 846 -16% -15% Immunodiagnostics ex-COVID 175 +2% +6% 530 +5% +7% Molecular Diagnostics ex-COVID 44 -14% -7% 141 -6% -4% Licensed Technologies1 39 -10% -4% 125 -2% -0% COVID 11 -78% -77
Slide 6: 9M 2023 Key Facts
9M 2023 KEY FACTS PRODUCT & BUSINESS DEVELOPMENT IMMUNODIAGNOSTICS • LIAISON® B·R·A·H·M·S MR-proADM™ assay launched in all countries accepting the CE Mark to improve patient management by providing the assessment of disease severity. • Consolidation of strategic partnership with MeMed, by signing a
Slide 7: Managerial Outlook on Q3 and 9M 2023 Revenues
MANAGERIAL OUTLOOK ON Q3 AND 9M 2023 REVENUES Q3’23 Group revenues1 (data in €/mln) 9M’23 Group revenues1 (data in €/mln) Data @CER Data @CUR Data @CER Data @CUR -11% -15% -13% -14% 983 983 318 318 856 842 201 201 284 270 47 46 52 12 52 127 127 127 125 43 42 43 11 39 150 144 150 141 51 47 51 44 172
Slide 8: Q3 and 9M 2023 Revenues Growth by Geography Ex COVID
Q3 AND 9M 2023 REVENUES GROWTH BY GEOGRAPHY EX COVID @ CONSTANT PERIMETER OF CONSOLIDATION Q3’23 vs. Q3’22 9M’23 vs. 9M’22 BY GEOGRAPHY (comments on 9M results) @CER @CER NORTH AMERICA DIRECT • Revenues at constant perimeter of consolidation1 growing +2% @CER +3% +2% • Immunodiagnostics: excellent p
Slide 9: Q3 and 9M 2023 Revenues by Geography
Q3 AND 9M 2023 REVENUES BY GEOGRAPHY Q3’23 9M’23 COVID COVID 4.1% 5.4% Rest of the World Rest of the World 16.9% North America 16.6% North America Direct Direct 46.9% 45.1% Europe Direct Europe Direct 32.1% 32.9% Q3’22 9M’22 COVID COVID 15.8% 19.9% North America North America Direct Direct 42.1% 39.
Slide 10: Q3 and 9M 2023 Profitability Profile
Q3 AND 9M 2023 PROFITABILITY PROFILE (data in €/mln @ current exchange rates) 37% 33% 327 270 122 88 Adjusted2 EBITDA margin decrease mostly due to lower COVID revenues, resulting in operating leverage reduction, whereas Year to Date Gross Margin ratio broadly in line with that recorded in the same
Slide 11: FY 2023 Company Guidance
FY 2023 COMPANY. GUIDANCE 6) Diasorin
Slide 12: FY 2023 Company Guidance
FY 2023 COMPANY GUIDANCE FY 2023 GUIDANCE (@ CER 2022) CONFIRMED • TOTAL REVENUES: approx. -14% • REVENUES AT CONSTANT PERIMETER OF CONSOLIDATION1: approx. -11%, of which: • ex-COVID revenues, net of molecular respiratory business: +4% / +6% • Molecular respiratory business revenues: approx. -20% •
Slide 13: Financial Schemes
FINANCIAL SCHEMES
Slide 14: Income Statement
INCOME STATEMENT Q3 9 months (Amount in millions of euros) 2022 2023 2022 2023 Net Revenues 327 270 1,012 846 Cost of sales (106) (102) (342) (300) Gross profit 221 167 671 546 68% 62% 66% 65% Sales and marketing expenses (73) (70) (215) (212) Research and development costs (25) (22) (72) (68) Gener
Slide 15: Reconciliation to Consolidated Financial Statements
RECONCILIATION TO CONSOLIDATED FINANCIAL STATEMENTS (amount in millions of Euro) Gross Margin EBITDA EBIT Net Profit IFRS Financial Statements Measures 546 260 156 112 % on Revenues 65% 31% 18% 13% Adjustments “One-off” costs related to the integration and restructuring of Luminex,and to the - 6 6 6
Slide 16: Balance Sheet
BALANCE SHEET (Amounts in million of euros) 12/31/2022 09/30/2023 Change Goodwill and intangibles assets 1,995 1,999 +4 Property, plant and equipment 268 259 -9 Other non-current assets 38 35 -3 Net working capital 434 391 -43 Other non-current liabilities (309) (299) +11 Net Invested Capital 2,426
Slide 17: Cash Flow Statement
CASH FLOW STATEMENT Q3 9 months (Amount in millions of euros) 2022 2023 2022 2023 Cash and cash equivalents at the beginning of the period 382 256 403 242 Cash provided by operating activities 127 80 307 226 Cash used in investing activities (19) (49) (70) 20 Cash provided by the sale of Flow Cytome
Slide 18: Slide 18