Ypsomed Holding Ag · SIX:YPSN
Ypsomed — FY2023/24 Earnings Presentation
44 slides from Ypsomed's earnings presentation, May 22, 2024
Slide 1: Ypsomed 2023/24 Full-Year Results
Ypsomed 2023/24 Full-Year Results Transforming selfcare, Transforming Ypsomed Zurich, 22 May 2024 PUBLIC
Slide 2: Important information
Important information The information contained in this document has not been verified by an independent source. It should be taken with caution and no assurance or guarantee is given (either explicit or implied) with regard to the fairness, accuracy, completeness or correctness of the information o
Slide 3: Welcome Samuel Künzli – Chief Financial Officer
Welcome Samuel Künzli – Chief Financial Officer (as of 01.04.2024) 2021 - 2024 CFO Feintool 2019 - 2020 CFO Stadler Division Switzerland 2014 - 2018 CFO Stadler Division Central Europe 2012 - 2013 CFO Stadler Minsk 2008 - 2012 Auditor KPMG 3 | Ypsomed Holding AG | 2023/24 Full-Year Results
Slide 4: Making selfcare simpler and easier
Making selfcare simpler and easier Improved therapy outcomes for chronic conditions 4 | Ypsomed Holding AG | 2023/24 Full-Year Results PUBLIC
Slide 5: Solutions for healthcare's biggest challenge are our growth drivers
Solutions for healthcare’s biggest challenge are our growth drivers Selfcare Improving quality of life, therapy adherence and supporting affordable healthcare systems Biologics Most new-generation drugs with complex active pharmaceutical ingredients have to be injected Biosimilars Expanding gl
Slide 6: Transforming selfcare – Continued high growth
Transforming selfcare – Continued high growth All growth drivers are lasting, offering tremendous opportunities Continuing investments in innovation, capacity expansion and employees for both business areas 6 | Ypsomed Holding AG | 2023/24 Full-Year Results PUBLIC
Slide 7: Transforming Ypsomed – Full focus
Transforming Ypsomed – Full focus 7 | Ypsomed Holding AG | 2023/24 Full-Year Results PUBLIC
Slide 8: Transforming Ypsomed – Both business areas offer tremendous opportunities
Transforming Ypsomed – Both business areas offer tremendous opportunities and require full focus 2022 Ypsomed Next transformation with two integrated Business Areas YDS and YDC 2023 Divestment of DiaExpert diabetes retail business in Germany 2024 Divestment of pen needle and BGMS business 2025+ Phas
Slide 9: The YDS and YDC businesses require full focus
Transforming Ypsomed – Both business areas offer tremendous opportunities and require full focus The YDS business needs full focus and The YDC business has a clear strategy that investment capabilities to seize the immense requires specific capabilities to expand opportunities in delivery systems ge
Slide 10: Separation into two pure play companies – Phase 1
Separation into two fully focused “pure play” companies Project Mercury Phase 1 Until March 2025, a new company Ypsomed Holding AG Ypsomed Diabetes Care AG (YDC AG) YPS AG will be established under the roof of YDS YDC Ypsomed Holding AG Corporate Areas Market sounding to get a better understandi
Slide 11: Separation into two pure play companies – Phase 2
Separation into two fully focused “pure play” companies Project Mercury Phase 2 Review of strategic options for the future Ypsomed Holding AG evolution and growth of a stand-alone YPS AG YDC AG Ypsomed Diabetes Care AG (YDC AG) YDS YDC Corporate Selected Areas Roles Subsidiaries Subsidiaries YPS A
Slide 12: 12 | Ypsomed Holding AG | 2023/24 Full-Year Results PUBLIC
12 | Ypsomed Holding AG | 2023/24 Full-Year Results PUBLIC
Slide 13: Revenue Ypsomed Group
Growth of 10 % Revenue Ypsomed Group 13 | Ypsomed Holding AG | 2023/24 Full-Year Results PUBLIC
Slide 14: Growth for continuing business – Revenue Ypsomed Group
Growth of 25 % for continuing business Revenue Ypsomed Group Continuing business +25 % Constant currency +26 % * The mail-order company DiaExpert GmbH in Germany was sold on 31 December 2022 14 | Ypsomed Holding AG | 2023/24 Full-Year Results PUBLIC
Slide 15: Strong growth in Gross Margin
Strong growth in Gross Margin Better utilization of the production infrastructure due to higher sales 15 | Ypsomed Holding AG | 2023/24 Full-Year Results PUBLIC
Slide 16: Doubling of EBIT after elimination of the divestment of DiaExpert
Doubling of EBIT after elimination of the divestment of DiaExpert * The mail-order company DiaExpert GmbH in Germany was sold on 31 December 2022 16 | Ypsomed Holding AG | 2023/24 Full-Year Results PUBLIC
Slide 17: Significant rise in EBIT from continued business
Significant rise in EBIT from continued business 17 | Ypsomed Holding AG | 2023/24 Full-Year Results PUBLIC
Slide 18: Cash flow
Cash flow Investments mainly for growth CAPEX Fixed assets – expansion of capacities for YpsoMate 1.0 and UnoPen – expansion of operating infrastructures Intangible assets – Future pen and autoinjector platforms – Smartphone apps and digital services in the digital health area – FDA filing for Y
Slide 19: Investments in fixed assets supporting our future growth
Investments in fixed assets supporting our future growth CHF 121 million investments in fixed assets in FY 2023/24 Expansion capacities for YpsoMate and ongoing doubling capacities for UnoPen Planned investments of CHF 1.5 billion in the coming five years with customers contributing about one
Slide 20: Creating 330 new jobs in 12 months
Creating 330 new jobs in 12 months, 159 in Switzerland We expect to create over 400 new positions in the Financial Year 2024/25 20 | Ypsomed Holding AG | 2023/24 Full-Year Results PUBLIC
Slide 21: 21 | Ypsomed Holding AG | 2023/24 Full-Year Results PUBLIC
21 | Ypsomed Holding AG | 2023/24 Full-Year Results PUBLIC
Slide 22: Decrease in reported turnover due to the sale of DiaExpert
Decrease in reported turnover due to the sale of DiaExpert Revenues Ypsomed Diabetes Care 22 | Ypsomed Holding AG | 2023/24 Full-Year Results PUBLIC
Slide 23: Growth for continuing business – Revenues Ypsomed Diabetes Care
Growth of 30 % for continuing business Revenues Ypsomed Diabetes Care Commercial sales of the mylife YpsoPump system increased by 69 % Due to manufacturing constraints for infusion sets, we had to restrict the installation of new mylife Loop users, despite of unprecedented market demand Measur
Slide 24: Breakdown of sales YDC business
Breakdown of sales YDC business Revenues Ypsomed Diabetes Care In 2022/23, development services were CHF 15 million lower due to the discontinuation of an US partnership 24 | Ypsomed Holding AG | 2023/24 Full-Year Results PUBLIC
Slide 25: Transfer of the pen needle and BGM business to MTD
Transfer of the pen needle and blood glucose monitoring business to Medical Technology and Devices (MTD) Closing of the deal is expected for summer 2024 The handover of commercial and operational setup is currently in preparation We will produce at full capacity until the end of 2024 to build
Slide 26: Freedom of choice with mylife Loop
Freedom of choice with mylife Loop Advanced, modular offering in insulin pump therapy Adaptive mylife CamAPS algorithm Runs on personal smartphone Available for all ages and pregnancies Compatible with both Abbott FreeStyle Libre 3 and Dexcom G6 sensors High customer satisfaction and net p
Slide 27: Installing >2'000 patients per month
Installing >2’000 patients per month 50’000 active users per May 2024 Unprecedented demand remains Strong market share in Germany Reimbursement and launch in France, Norway, Spain and Italy Review in Canada ongoing Targeting >25’000 new users for FY 2024/25 Enabling break-even in Q4 2024
Slide 28: Filing mylife Loop system with the FDA
Filing mylife Loop system with the FDA mylife CamAPS FX App has been filed in August 2023 and is currently under review mylife YpsoPump has been submitted beginning 2024 Approval and launch of the system expected in Q4 2025 Limited investments in organization and preparation of an US market
Slide 29: 29 | Ypsomed Holding AG | 2023/24 Full-Year Results PUBLIC
29 | Ypsomed Holding AG | 2023/24 Full-Year Results PUBLIC
Slide 30: Strong revenue increase in Delivery Systems
Strong revenue increase of 25 % in Delivery Systems Revenues Ypsomed Delivery Systems Strong commercial sales (without project revenues) growth of 38.9 % with own devices Main contributors are autoinjectors YpsoMate 1.0, YpsoMate 2.25 as well as UnoPen Project revenues stable at high level C
Slide 31: Strong business development in Delivery Systems 2023/24
Strong business development in Delivery Systems 2023/24 31 | Ypsomed Holding AG | 2023/24 Full-Year Results PUBLIC
Slide 32: Strong growth in a large variety of disease areas and customer segments
Strong growth in a large variety of disease areas and customer segments 32 | Ypsomed Holding AG | 2023/24 Full-Year Results SECRET PUBLIC
Slide 33: Served disease areas
ATTR Amyloidose and Hypercholesterolemia as newly served disease areas Served disease areas Pens Autoinjectors Diabetes Asthma Osteoporosis Migraine Growth disorders Multiple sclerosis Fertility Rheumatoid arthritis Parkinson Psoriasis Polycythaemia vera Dermatitis ATTR Amy
Slide 34: Our accelerated investment program Ypsomed 2030
Our accelerated investment program Ypsomed 2030 Capacity for around 1 billion devices p.a. in 2030 Investing over CHF 1.5 billion in production infrastructure over the coming five years: − Expansion at the Solothurn site − Expansion (hall D) in Schwerin − Construction of new plant in China − Const
Slide 35: Ypsomed sites
Ypsomed sites 35 | Ypsomed Holding AG | 2023/24 Full-Year Results PUBLIC
Slide 36: Expansion in Solothurn – over CHF 100 million investment
Expansion in Solothurn – over CHF 100 million investment UnoPen 3rd assembly line installed (2024) Conversion of the CMO area and the personnel to production of autoinjectors (2025/26) Installation of a new tool shop with up to 80 tool-makers in the coming 3-4 years Installation of a large-s
Slide 37: Expansion (hall D) of our established site in Schwerin on track
Expansion (hall D) of our established site in Schwerin on track 37 | Ypsomed Holding AG | 2023/24 Full-Year Results PUBLIC
Slide 38: New site Schwerin II – 50'000 m2 for 500 million injection devices
New site Schwerin II – 50’000 m2 for 500 million injection devices per year 38 | Ypsomed Holding AG | 2023/24 Full-Year Results PUBLIC
Slide 39: New site Schwerin II – Project start in January 2024
New site Schwerin II – Project start in January 2024 39 | Ypsomed Holding AG | 2023/24 Full-Year Results PUBLIC
Slide 40: New site Changzhou – Topping-out ceremony in China
New site Changzhou – Topping-out ceremony at our site in China 40 | Ypsomed Holding AG | 2023/24 Full-Year Results PUBLIC
Slide 41: New site North America – Installing at least 25'000m2 by mid-2027
New site North America – Installing at least 25’000m2 by mid-2027 New site in North America for North Carolina autoinjectors and disposable pens Total area: 25’000m2, including production, warehouse, offices, utility, etc. Sustainability: distance to customer, green energy, LEED certification
Slide 42: 42 | Ypsomed Holding AG | 2023/24 Full-Year Results PUBLIC
42 | Ypsomed Holding AG | 2023/24 Full-Year Results PUBLIC
Slide 43: Outlook for the Financial Year 2024/25
Outlook for the Financial Year 2024/25 For the financial year 2024/25, Ypsomed expects sales growth from continuing operations of around 25 %. At EBIT level, Ypsomed expects an operating result of around CHF 140 million, excluding one-off effects from the sale of the pen needle business. 43 | Yp
Slide 44: We look forward to your questions.
We look forward to your questions. PUBLIC