Bonesupport Holding Ab · OMXSTO:BONEX
Bonesupport Holding Ab — Q4 2020 Earnings Presentation
17 slides from Bonesupport Holding Ab's earnings presentation, Feb 17, 2021
Slide 1: BONESUPPORT Q4 (2020)
BONESUPPORT Q4(2020) February 17th 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: Bonesupport – Fourth quarter report 2020
Bonesupport – Fourth quarter report 2020 • Net sales SEK 53 m, growth 15% YoY • EBIT: SEK -27 m (SEK -39 m) • Influence from second wave pandemic with rising infection incidence • South Africa new market • Preparations for potential launch of CERAMENT G in Q2 2021 3
Slide 4: COVID-19 – Impact on market dynamics in orthopaedic surgery
COVID-19 – Impact on market dynamics in orthopaedic surgery • Sharp rise in infection incidence moving into December, halting and reversing the gradual return of elective surgeries • Reintroduced and reimposed restrictions • Overall orthopaedic market assessed to have declined 10% in 2020 (EMEA: -17
Slide 5: Continued progress in expanded US distribution build up, despite pandemic influence
Continued progress in expanded US distribution build up, despite pandemic influence LTM Quarterly Sales per Segment US distribution with 40 independent 200.0 distributors (dark blue bar) 200.0 180 180.0 173 180.0 166 165 • New US distribution model US distribution with Zimmer Biomet (ligth blue bar)
Slide 6: North America – Accelerated pandemic impact throughout the quarter
North America – Accelerated pandemic impact throughout the quarter Q4 2020 • Sales of SEK 28,6 m, growth over previous year of 23% • Sharp reduction of surgeries as infection incidence rose end of November • Regional outbreaks mainly in South West and North East have limited capacity for surgeries •
Slide 7: CERAMENT G pathway to US market
CERAMENT G pathway to US market Milestone deadlines FDA: Max 90 days DeNovo April 2020 1. Any delivery by FDA ahead of max process time for one stage could be transferred to later stage CERAMENT G (Bone infection) DeNovo application BONESUPPORT: Max 180 days filed FDA: Max 60 days1 Q1 2021: March 20
Slide 8: EUROW – Strong start of the quarter, reversed as COVID-19 influence accelerated
EUROW – Strong start of the quarter, reversed as COVID-19 influence accelerated Q4 2020 • Sales of SEK 24,5 m, growth of 24% versus previous quarter and 7% YoY • Antibiotic eluting products growth of 5% YoY Highlights • Opened up Republic of South Africa as new distributor market. First surgeries ta
Slide 9: Financial Review
Financial Review
Slide 10: Net Sales per quarter
Q4 2020 net sales SEK 53.2 m (SEKm) Net Sales per quarter +15% 70.0 185.0 Net Sales 60.0 53.2 180.0 Q4 Net Sales per quarter 46.2 48.1 50.0 43.4 175.0 40.0 36.2 170.0 LTM 30.0 165.0 20.0 160.0 10.0 155.0 0.0 150.0 Q4-19 Q1-20 Q2-20 Q3-20 Q4-20 Net sales per quarter LTM 10
Slide 11: North America EUROW
North America EUROW +23% +7% Net Sales Net Sales Q4 Q4 (SEKm) Oct-Dec (SEKm) Oct-Dec 2020 2019 2020 2019 Net Sales 28.6 23.3 Net Sales 24.5 22.9 Gross profit 27.2 21.8 Gross profit 20.6 19.3 Contribution 0.1 -9.3 Contribution 5.6 -0.5 (SEKm) Net Sales per quarter (SEKm) Net Sales per quarter 40.0 30
Slide 12: Stable sales growth despite the pandemic - EBIT improved with SEK 11.9 m
Stable sales growth despite the pandemic - EBIT improved with SEK 11.9 m Key Figures 2020 2019 SEK m Q4 Q3 Q2 Q1 Q4 Q3 Q2 (i) Q1 Net Sales 53.2 48.1 36.2 43.4 46.2 39.1 37.3 32.8 Gross Margin (%) 89.8 91.4 86.7 88.7 88.9 87.7 86.5 85.9 Operating Loss -26.7 -19.2 -23.5 -29.2 -38.6 -32.7 -47.8 -39.0 C
Slide 13: Strong ability to adapt the business
Strong ability to adapt the business Key Figures 2020 2019 SEK m Q4 Q3 Q2 Q1 Q4 Q3 Q2 (i) Q1 Selling expenses (less 33.9 32.0 23.0 35.0 41.3 33.5 47.9 37.3 commissions) Sales Commissions 8.4 9.2 6.9 7.1 8.0 6.0 4.8 3.5 Research and 16.5 11.7 14.0 15.8 18.5 17.4 16.0 16.9 Development expenses Adminis
Slide 14: Clear Corporate Strategy Driving Value Creation
Clear Corporate Strategy Driving Value Creation
Slide 15: Strategic execution and situational adoption
Strategic execution and situational adoption Strong progress despite pandemic disruption • Focused distribution strategy driving increased customer base in the US • Advancements to register CERAMENT G on the US market - De Novo application – accelerated CERAMENT G market entry - PMA application end
Slide 16: CERAMENT Value generating milestones
CERAMENT® Value generating milestones July 2020 Repatriation of Q4 2020 Benelux into Entered RSA direct market March 2020 Q1 2021 Q3 2020 Q4 2021 FDA designated CERAMENT G Entered CERAMENT® G CERAMENT G as Potential Market Australia PMA application “Breakthrough device” approval 2020 2021 2022 2023
Slide 17: Q&A
Q&A