Bonesupport Holding Ab · OMXSTO:BONEX
Bonesupport Holding Ab — Q4 2019 Earnings Presentation
18 slides from Bonesupport Holding Ab's earnings presentation, Feb 26, 2020
Slide 1: BONESUPPORT Q4(19)
BONESUPPORT Q4(19) February 26th 2020 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: Financial highlights / Operational highlights
Financial highlights • Q4 (19) net sales SEK46m, growth 100% • FY(19) net sales SEK155m, growth 61% • EU & ROW Q4(19): +21% Y/Y to SEK23m • CERAMENT G & V Q4(19): +23%, FY(19) +45% • North America: Q/Q growth with +26% • Q4 gross margin: 89% Operational highlights • Publication of the CERTiFy study,
Slide 4: New all-time high - Strong growth in both regions
New all-time high - Strong growth in both regions • US sales back on levels as before transition • Antibiotic eluting products grew 45% in 2019 • Antibiotic eluting products represents 85% of EUROW sales 4
Slide 5: EUROW – Continued momentum, led by CERAMENT G & V
EUROW – Continued momentum, led by CERAMENT G & V Q4 2019 • Sales of SEK23m, growth of 21% • Antibiotic eluting products growth of 23% Highlights • Full year 2019 of 40% growth • End of quarter variability with two large accounts • Changes initiated in several indirect markets / distributor markets
Slide 6: North America – Progressing with GPOs and sales rep coverage
North America – Progressing with GPOs and sales rep coverage Q4 2019 • Total sales of SEK23m, 26% growth Q/Q • Four quarters of stable growth Strong progression with GPO contracts signed • First sales registered with HealthTrust membership hospitals • Gradual traction with conversion of hospitals un
Slide 7: Autograft – a golden standard ready to be replaced
Autograft – a golden standard ready to be replaced One third of all procedures to treat insufficient bone healing is done with autograft due to compromises with alternatives. While effective healing is accomplished, the side effects are numerous and well documented: Acute/chronic pain ▪ 39%1 patient
Slide 8: CERTiFy study: CERAMENT vs Autologous Iliac Bone Graft
CERTiFy - CERAMENT® treatment of Tibial Fracture defects study CERAMENT – As effective as Autograft1: Autologous Iliac Bone Graft • Proven bone remodeling (AIBG) • First Level I study with PROMs* – Important Autograft efficacy parameter for payers & national guidelines development Depression fractur
Slide 9: Financial Review
Financial Review
Slide 10: Q4(19) net sales SEK46m – All time high
Q4(19) net sales SEK46m – All time high +100% Net Sales Q4 10
Slide 11: North America – Showing strong growth Q/Q
North America – Showing strong growth Q/Q (SEKm) Oct - Dec 2019 2018 Net Sales 23.3 4.2 Gross profit 21.8 3.7 Net sales Contribution -9.3 -17.4 Q4 SEK23m +26% Net Sales Q/Q 11
Slide 12: EUROW – stable Y/Y growth
EUROW – stable Y/Y growth (SEKm) Oct - Dec 2019 2018 21% Net Sales 22.9 18.9 Net Sales Gross profit 19.3 15.9 Q4 Contribution -0.5 -3.9 12
Slide 13: Well funded to profitability
Well funded to profitability Key Figures 2019 2018 SEK m Q4 Q3 Q2 (i) Q1 Q4 Q3 Q2 Q1 Net Sales 46.2 39.1 37.3 32.8 23.1 14.2 28.2 31.1 Gross Margin (%) 88.9 87.7 86.5 85.9 85.0 81.8 87.4 82.1 Operating Loss -38.6 -32.7 -47.8 -39.0 -45.0 -58.4 -37.8 -33.1 Cash at period end 92.1 129.9 173.1 219.1 261
Slide 14: Focused investments in commercial acceleration
Focused investments in commercial acceleration Key Figures 2019 2018 SEK m Q4 Q3 Q2 (i) Q1 Q4 Q3 Q2 Q1 Selling expenses (less 41.3 33.5 47.9 37.3 37.7 35.1 31.8 27.6 commissions) Sales Commissions 8.0 6.0 4.8 3.5 1.1 - - - Research and Development 18.5 17.4 16.0 16.9 17.6 16.4 17.2 14.8 expenses Adm
Slide 15: Clear Corporate Strategy Driving Value Creation
Clear Corporate Strategy Driving Value Creation
Slide 16: Delivering on updated strategy
Delivering on updated strategy • Cementing the platform for the accelerated growth journey ‒ Improved commercial platform o Improved access in the US – better coverage of indications, states and GPOs o Good geographic coverage in UK, Germany and Nordics o Revitalising distributor markets ‒ Strength
Slide 17: CERAMENT Value generating milestones
CERAMENT® Value generating milestones 20:e May ZB Q3 2019 Q3 2020 2021 Q1 2019 ceases to sell CERAMENT®|G CERAMENT® G CERAMENT® G BONIFY Launch CERAMENT Canada Launch Australia Launch PMA application 2019 2020 2021 2022 Q1 2019 H1 2020 Q4 2019 2021: 2022 SOLARIO FORTIFY last Health Economic FORTIFY
Slide 18: Q&A
Q&A