Tristel Plc · LSE:TSTL
Tristel — H1 2022-23 Earnings Presentation
21 slides from Tristel's earnings presentation, Feb 21, 2023
Slide 1: Tristel plc Interim Results Investor Presentation
INTERIM RESULTS Tristel plc Interim Results Investor Presentation 6 Months to 31 December 2022 Paul Swinney, CEO | Liz Dixon, CFO 20-21 February 2023 1 DEC 2022
Slide 2: About TSTL
INTERIM RESULTS About TSTL Decontamination of medical devices: Ultrasound probes, endoscopes, ophthalmic • Global infection prevention Portfolio brand: Tristel • Focus on the hospital Status: Global market leader in manual high-level disinfection of medical devices • Proprietary chlorine dioxide che
Slide 3: Our Markets
INTERIM RESULTS Our Markets Tristel medical device decontamination Cache sporicidal surface disinfection Diagnostic services in every Every surface in every hospital in hospital in every country: every country • Ear, nose and throat H1 2022-23 = £1.8m • Obstetrics and gynaecology TAM = >£4bn • Cardi
Slide 4: Our Products
INTERIM RESULTS Our Products 4 DEC 2022
Slide 5: Interim Results H1 2022-23
INTERIM RESULTS Interim Results H1 2022-23 5 DEC 2022
Slide 6: H1 2022-23 Financial Highlights
INTERIM RESULTS H1 2022-23 Financial Highlights to £17.5m (2021: loss (2021: £15.1m restated to include £1.2m) (2021: tax credit £0.2m) products discontinued in 2021) to £3.1m (2021: £2.2m) (excluding previous year distortions) (2021: 2.62p) to £3.9m (2021: £0.2m) to £11.2m (2021: £10m); to £4.6m (2
Slide 7: Operational Highlights
INTERIM RESULTS Operational Highlights • Launch of Tristel Duo into the North American ultrasound and ophthalmology markets • FDA De Novo submission – additional data generated and will be delivered to FDA by March 23 deadline 7 DEC 2022
Slide 8: H1 2022-23 Sales Growth by Geography
INTERIM RESULTS H1 2022-23 Sales Growth by Geography 2021-22 2022-23 Half on half Region H1 H1 variance £m £m % Europe 5.6 6.2 11% APAC 3.2 3.6 13% International distributors 1.2 1.4 17% Total overseas sales 10.0 11.2 12% UK 5.1 6.3 24% Total reported sales 15.1 17.5 16% Remove discontinued products
Slide 9: H1 2022-23 Sales Growth by Portfolio
INTERIM RESULTS H1 2022-23 Sales Growth by Portfolio 2021-22 2022-23 Half on half Portfolio H1 H1 variance £m £m % Tristel medical device decontamination 12.2 14.7 20% Cache surface disinfection 1.6 1.8 13% 1.3 1.0 (23%) Other Total reported sales 15.1 17.5 16% 9 DEC 2022
Slide 10: North America
INTERIM RESULTS North America USA - FDA USA - EPA CANADA Tonometer Duo ULT: Invasive Ultrasound Duo: Skin Surface & Ultrasound Console Duo OPH: Ophthalmic Devices HIGH LEVEL DISINFECTION INTERMEDIATE LEVEL DISINFECTION HIGH LEVEL DISINFECTION AWAITING FDA APPROVAL LAUNCHED LAUNCHED 10 DEC 2022
Slide 11: North America Revenues
INTERIM RESULTS North America Revenues £16,000,000 £14,000,000 £12,000,000 £10,000,000 £8,000,000 £6,000,000 £4,000,000 COVID and Brexit £2,000,000 disruption £0 FY20 Q1 FY20 Q2 FY22 Q4 FY23 Q1 FY23 Q2 Tristel Medical Devices Cache Surfaces Other 11 DEC 2022
Slide 12: ESG
INTERIM RESULTS Independent NEDs Board gender split ESG Actions in the period: Independent • Specialist consultant: finalising ESG strategy Non-independent Tom Jenkins Male Female and reporting • Carbon Net Zero targets will be defined by June 23 Leadership roles Salary range by gender (ex-BOD) 200,
Slide 13: Summary
INTERIM RESULTS Summary • Top line growth • High margin • Cash generative • Geographically diverse • Consumable products performing a vital function that is non-discretionary 13 DEC 2022
Slide 14: Questions
INTERIM RESULTS Questions 14 DEC 2022
Slide 15: Our Chemistry
INTERIM RESULTS Our Chemistry ClO2 (Chlorine Dioxide) • A powerful, safe and fast acting disinfectant, for manual application to medical devices and surfaces, enabling instant deployment in any setting • Cost effective: • No need for capital investment, maintenance costs and risk of break-downs • No
Slide 16: Appendix – Income Statement
INTERIM RESULTS Appendix – Income Statement 6 months to 6 months to 31.12.22 31.12.21 £’000 £’000 Turnover 17,463 15,125 Cost of sales (3,359) (3,030) Gross profit 14,104 12,095 Gross margin % 81% 80% Administrative expenses less other income (9,501) (8,535) EBITDA & shared based payments 4,603 3,56
Slide 17: Balance sheet
INTERIM RESULTS Balance sheet 6 months to 6 months to 31.12.22 31.12.21 Non-current assets £’000 £’000 Goodwill and other intangible assets 9,153 9,190 Property, plant and equipment 7,609 8,263 Deferred tax 725 1,990 17,487 19,443 Current assets Inventories 4,668 3,751 Trade and other receivables 6,
Slide 18: Balance sheet … continued
INTERIM RESULTS 31.12.22 31.12.21 Capital and reserves £’000 £’000 Share capital 473 472 Share premium account 14,010 13,929 Balance sheet …continued Merger reserve 2,205 2,205 Foreign exchange reserve 123 (128) Retained earnings 11,388 11,255 Non-controlling interests 7 7 Total equity 28,206 27,740
Slide 19: Appendix – Cash Flow Reconciliation
INTERIM RESULTS Appendix – Cash Flow Reconciliation 6 months to 6 months to 31.12.22 31.12.21 £’000 £’000 Profit before tax 2,388 (1,165) Add back non-cash items 2,212 4,755 Working capital movements (408) 249 Interest received 1 - Purchase of tangible fixed assets (128) (164) Purchase of intangible
Slide 20: FY20 to FY23 quarter by quarter revenue
INTERIM RESULTS FY20 to FY23 quarter by quarter revenue FY20 FY21 FY22 FY23 £8,000,000 £7,000,000 £6,000,000 £5,000,000 £4,000,000 £3,000,000 £2,000,000 £1,000,000 £0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 -£1,000,000 20 DEC 2022 Tristel Medical Devices Cache Surfaces Other Brexit
Slide 21: Thank you
INTERIM RESULTS Thank you 21 DEC 2022