Diasorin S.p.a. · MIL:DIA
Diasorin — Q1 2022 Earnings Presentation
17 slides from Diasorin's earnings presentation, May 6, 2022
Slide 1: Q1 2022 Results
Q1 2022 RESULTS May 6, 2022
Slide 2: Disclaimer
Disclaimer In General. This disclaimer applies to this presentation and any oral comments of any person presenting it. This document, taken together with any such oral comments, is referred to herein as the “Presentation”. This Presentation has been prepared by DiaSorin S.p.A. (“DiaSorin” or the “Co
Slide 3: Forward-looking statements
Forward-looking statements This document contains forward-looking statements that are based on current expectations, estimates, forecasts and projections about the industries in which DiaSorin operates and the beliefs and assumptions of the management of DiaSorin. In addition, the management of DiaS
Slide 4: Financial Highlights
Financial Highlights* Change Data in €/mln Q1’22 @ current @ CER Revenues 358 +34.1% +28.0% Immunodiagnostics ex-COVID 160 +10.1% +6.6% Molecular Diagnostics ex-COVID 46 +137.6% +123.5% Licensed Technologies 55 n.a. n.a. COVID 97 -5.2% -9.8% Adjusted EBITDA 150 +15.5% +10.4% Adjusted EBITDA Margin 4
Slide 5: Molecular Diagnostics Q1 2022 key facts
Q1 2022 key facts Product Development Business Development • New Simplexa™ SARS-CoV-2 Variants Direct Assay (Research • Appointment of Angelo Rago, a senior executive with a 30+ years Molecular Diagnostics Use Only) for the detection and discrimination of mutations associated experience in MedTech g
Slide 6: Managerial outlook on Q1 2022 revenues
Managerial outlook on Q1 2022 revenues Total Q1 Group revenues (data in €/mln) Evolution of the business in the quarter Data @CER Data @CUR Positive results, driven by three separate trends: • BUSINESS EX-COVID: +51.5% @CER vs. Q1'21, mainly due to the +28% +34% inclusion of Luminex in the Group per
Slide 7: Q1 2022 revenues growth by geography and technology
Q1 2022 revenues growth by geography and technology Q1’22 vs. Q1’22 vs. BY GEOGRAPHY BY TECHNOLOGY Q1’21 Q1’21 EUROPE DIRECT • Positive performance of Immunodiagnostics ex-COVID sales (Latent reported +10.1% IMMUNODIAGNOSTICS EX-COVID Tuberculosis, ID Panel, GI Panel), with flat performance of Vitam
Slide 8: Q1 2022 revenues: managerial outlook
Q1 2022 revenues: managerial outlook BY GEOGRAPHY BY TECHNOLOGY Q1’21 North America Direct Rest of the World Q1’21 14.4% 19.0% COVID 38.3% Immunodiagnostics ex-COVID 54.4% Europe Direct COVID 28.3% 38.3% Molecular Diagnostics ex-COVID 7.3% North America Direct 35.0% COVID Q1’22 27.1% Q1’22 Rest of t
Slide 9: Q1 2022 profitability profile
Q1 2022 profitability profile (data in €/mln) 41.9% 358 48.6% 267 Margin dilution mainly driven by Luminex inclusion in the perimeter of consolidation. The dilutive effect will progressively decline over the 150 next quarters as a consequence of the integration process and its 130 related synergies
Slide 10: FY 2022 Company Guidance
FY 2022 Company Guidance NEW FY 2022 GUIDANCE at 2021 CER: ▪ REVENUES: between -2% and +1% vs. FY’21, with COVID revenues at € 150-180 million and ex-COVID revenues growing at 24% approx. ▪ ADJUSTED EBITDA* MARGIN: between 35% and 37% * With reference to the Adjusted EBITDA please refer to the table
Slide 11: Financial schemes
Financial schemes 11
Slide 12: Income Statement
Income Statement Q1 Change (Amounts in million of euros) 2021 2022 amount % Net Revenues 266.7 357.6 +90.9 +34.1% Cost of sales (81.5) (122.8) -41.2 +50.6% Gross profit 185.1 234.8 +49.7 +26.8% 69.4% 65.7% -376 bps Sales and marketing expenses (36.8) (68.5) -31.7 +86.3% Research and development cost
Slide 13: Adjusted Income Statement
Adjusted Income Statement* Q1 Change (Amounts in million of euros) 2021 2022 amount % Net Revenues 266.7 357.6 +90.9 +34.1% Cost of sales (81.5) (120.8) -39.3 +48.2% Gross profit 185.1 236.8 +51.7 +27.9% 69.4% 66.2% -321 bps Sales and marketing expenses (36.8) (59.3) -22.5 +61.3% Research and develo
Slide 14: Reconciliation to consolidated financial statements
Reconciliation to consolidated financial statements Q1 2021 Q1 2022 Gross Fiscal Gross Fiscal Data in €/mln EBITDA2 EBIT Net Profit Data in €/mln EBITDA2 EBIT Net Profit Margin Impact Margin Impact 185.1 118.0 103.3 n.a. 78.2 234.8 146.6 113.6 n.a. 82.3 IFRS Financial Statements Measures IFRS Financ
Slide 15: Balance Sheet
Balance Sheet (Amounts in million of euros) 12/31/2021 03/31/2022 Change Goodwill and intangibles assets 1,943.4 1,974.5 +31.1 Property, plant and equipment 276.2 279.2 +3.0 Other non-current assets 42.6 95.9 +53.3 Net working capital 361.9 343.1 -18.9 Other non-current liabilities (270.2) (325.8) -
Slide 16: Cash flow statement
Cash flow statement Q1 (Amounts in million of euros) 2021 2022 Cash and cash equivalents at the beginning of the period 339.9 403.0 Cash provided by operating activities 101.8 134.4 Cash used in investing activities (23.0) (23.0) Cash provided/(used) in financing activities 11.3 7.1 Net change in ca
Slide 17: DiaSorin
DiaSorin