Slide 1: BONESUPPORT Q2 (2023) Report
BONESUPPORT Q2 (2023) Report July 13th , 2023 Emil Billbäck, CEO Håkan Johansson, CFO
Slide 2: Disclaimer
DISCLAIMER This presentation, which includes all information and data on the following slides, any oral statements made when presenting these slides, and any other material distributed or statements made at, or in connection with, such presentation (the “Presentation”), relates to BONESUPPORT HOLDIN
Slide 3: BONESUPPORT – Second quarter report 2023
BONESUPPORT – Second quarter report 2023 Q2 2023: • Net sales SEK 140 m, growth: +88% versus Q2 2022, (+75% in constant exchange rates, CER) • Operating result (before incentive expenses): SEK +14 m (SEK -9 m) • Reported EBIT: SEK +6 m (SEK -15m) • SEK 51 m sales of CERAMENT G in the US in Q2 2023 •
Slide 4: Accelerated market penetration. Biggest Q-over-Q net growth
Accelerated market penetration. Biggest Q-over-Q net growth Incremental, Q-over-Q LTM growth: Q3-22 30 MSEK Q4-22 42 MSEK Q1-23 53 MSEK Q2-23 66 mSEK • Gradual “post-pandemic” recovery of surgical procedures • Total sales growth driven by antibiotic eluting CERAMENT 4
Slide 5: North America: Expansion of customer base and launch of CERAMENT G
North America: Expansion of customer base and launch of CERAMENT G Q2 2023 • Sales of SEK 104 m, growth of 126% over Q2 2022, growth of 107% in constant exchange rate, CER • Sales in Q2 2023 represented a reported sequential growth of 21% over Q1 2023 • CERAMENT BVF grew with 14% in Q2 2023 over Q2
Slide 6: CERAMENT G launched in the US
CERAMENT G launched in the US Market penetration dynamics: Contracts/ Hospital system Surgeon Q2 2023 sales CERAMENT G in US: SEK 51 m listings approvals promotion Year to date (Q1 22 – Q2 23): SEK 86 m Group Purchasing Hospital groups: i.e. Introduction Trial Evaluation Organization: i.e Cleveland
Slide 7: EUROW: Recovery in general surgical procedures, steady but slow
EUROW Recovery in general surgical procedures, steady but slow Q2 2023 • Sales of SEK 36.5 m, growth of 28% vs Q2 2022, +24% in constant exchange rates, CER • Steady, but slow, recovery of general procedure volumes Highlights • Launch of CERAMENT G, 3rd Gen • Restructured indirect markets lead and o
Slide 8: CERAMENT G 3rd Generation - Increased Ease of Use and Reduced Environmental Impact
CERAMENT® G 3rd Generation - Increased Ease of Use and Reduced Environmental Impact CERAMENT® G 2nd generation CERAMENT® G 3rd generation Same excellent clinical efficiency • No changes to composition, formula or mechanism of action. All the same clinical data applies Operating room productivity • I
Slide 9: EUROW: Recovery in general surgical procedures, steady but slow
EUROW Recovery in general surgical procedures, steady but slow Q2 2023 • Sales of SEK 36.5 m, growth of 28% vs Q2 2022, +24% in constant exchange rates, CER • Steady, but slow, recovery of general procedure volumes Highlights • Launch of CERAMENT G, 3rd Gen • Restructured indirect markets lead and o
Slide 10: CERAMENT G in IIIB open fractures
CERAMENT® G in IIIB open fractures Literature reference: Study results, Henry JA et al: Infection rate: up to 52% Infection rate: 3,7% Amputation rate: up to 16% Amputation rate: up to 3,7% 10
Slide 11: Financial Report
BONESUPPORT Q2 (2023) Report Financial Report
Slide 12: Q2 2023 net sales SEK 140,4 m
Q2 2023 net sales SEK 140,4 m SEK m • NA: 126 percent reported growth. 107 percent growth in CER • EUROW: 28 percent reported growth. 24 percent growth CER • High impact from currency movements 12
Slide 13: Net sales and gross margin by region
North America +126% EUROW +28% (+107% CER) (+24% CER) Net sales Net sales Q2-23 Q2-23 North America 2023 2022 EUROW 2023 2022 SEK m Q2-23 Q1-23 Q4-22 Q3-22 Q2-22 SEK m Q2-23 Q1-23 Q4-22 Q3-22 Q2-22 Net Sales 103,9 85,9 73,4 56,3 46,0 Net Sales 36,5 33,8 29,8 28,3 28,6 Gross profit 98,2 81,6 69,4 53,
Slide 14: Q2 expenses growth driven by marketing and sales promotion activities
Q2 expenses growth driven by marketing and sales promotion activities Key Figures 2023 2022 2021 SEK m Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Selling expenses 55,0 49,0 46,8 38,8 37,4 35,2 35,4 33,1 Sales Commissions and fees 37,2 29,9 28,1 21,1 16,8 14,3 13,9 11,8 Research and Development expenses 14,6 12,5 14,8
Slide 15: A SEK 33 m underlying profit improvement
A SEK 33 m underlying profit improvement Key Figures 2023 2022 2021 SEK m Q2 Q1 Q4 Q3 Q2 Q1 Q4 Q3 Net Sales 140,4 119,7 103,2 84,6 74,6 66,3 61,4 54,9 Gross Margin (%) 91,3 90,5 91,5 90,8 89,0 90,5 89,3 89,0 Operating Profit 6,0 0,8 -19,3 -13,9 -14,9 -16,5 -21,8 -13,3 Adj. Operating profit (i) 13,6
Slide 16: Clear Corporate Strategy Driving Value Creation
BONESUPPORT Q2 (2023) Report Clear Corporate Strategy Driving Value Creation
Slide 17: BONESUPPORT – exciting journey ahead
BONESUPPORT – exciting journey ahead • CERAMENT G (Gentamicin) launched in the US T R E AT M E N T P R E F E R E N C E – Clinical superiority to standard of care 92% – Strong Hospital System Approval and pilot-use – Addresses an immediate and unmet clinical need 92% of US orthopedic surgeons – Only
Slide 18: Q&A
BONESUPPORT Q2 (2023) Report Q&A