Ekf Diagnostics Holdings Plc · LSE:EKF
Ekf Diagnostics — H1 2021 Earnings Presentation
21 slides from Ekf Diagnostics's earnings presentation, Sep 14, 2021
Slide 1: Interim Results for the Six Months Ended 30 June 2021
EKF Diagnostics Holdings plc INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 JUNE 2021 14th September 2021
Slide 2: Disclaimer
The information contained in these slides and the accompanying oral presentation (together, the “Presentation”) has been prepared by EKF Disclaimer Diagnostics Holdings plc (the “Company”). The Presentation is subject to updating, completion, revision and amendment without notice and as such it may
Slide 3: Agenda
Slide no. Financial highlights 3 Operational highlights 4 Update to Growth Plan 5 Agenda Business Unit performance 6 Contract manufacturing strategy 7 Commercial partnerships 8 Central Lab & Life Sciences 9 Diabetes 10 Hematology 11 Global revenue breakdown 12 Current trading & 2022 outlook 13 Finan
Slide 4: Financial highlights
Financial highlights 12.8 Revenues up 46.5% to £38.56m (H1 2020: £26.33m) Adjusted EBITDA* up 42.9% to £12.76m (H1 2020: £8.93m) Net profit after tax up 122% to £9.19m (H1 2020: £4.14m) 8.9 Net cash generated by operating activities £1.13m (H1 2020: £6.94m) Exit bonus payments £M Investment in plant
Slide 5: Operational highlights
Operational highlights Core business revenues up £1.21m (6%) in first six months of “The Board is very confident that trading for 2021 the year ending 31 December 2021 will be Life Sciences revenues including contract manufacturing for comfortably ahead of already upgraded PrimeStore MTM and phospha
Slide 6: Update to Growth Plan
Update to Growth Plan 1. Contract Manufacturing: Life Sciences a) Orders placed with significant partners and build of fermenters in progress b) Work commenced on new fermentation facility with a total investment of $9.3m and the aim of delivering $20m in revenues by 2024 2. Contract Manufacturing:
Slide 7: Business Unit performance
Business Unit Diabetes Life Sciences £10.18m revenues performance 14% growth of b-HB LiquiColor through direct £18.50m revenues Large increase in revenues due to sales and OEM agreement with leading demand for PrimeStore MTM and distributor PBS in USA and Europe Recovery of sales across the majority
Slide 8: Contract Manufacturing strategy
Contract Manufacturing strategy High demand for contract manufacturing across all EKF’s manufacturing sites: • Production of PrimeStore MTM tubes for public • Manufacture of home testing kits including PBS health systems customers in the UK and Ireland and swab for distribution in US and Europe via
Slide 9: Commercial partnerships
Commercial partnerships Preferred partnership agreement (PPA) with Mount Sinai Innovation Partners (MSIP), NYC (announced 10 September 2019): • Agreement provides EKF with advanced access to innovative commercial opportunities arising from Mount Sinai Health System owned technologies managed by MSIP
Slide 10: Central Lab & Life Sciences
Central Lab & Revenues up £10.6m (118%) to £19.84m Life Sciences Contract manufacturing (including fermentation) up from £7.64m to £18.50m • PrimeStore MTM tube and bulk liquid manufacturing H1 2021 • • PBS solution introduced into market Q4 2020 as a low cost alternative to MTM Manufacturing operat
Slide 11: Diabetes
Diabetes Revenues up 8% to £10.18m H1 2021 Quo-Test up 24% to £1.08m • Increased demand from some key markets including Philippines Biosen C-Line Quo-Lab up 18% to £1.54m Quo-Lab A1c • Strong performance in Saudi Arabia, India and Tunisia, and Human OEM Quo-Test A1c β-HB LiquiColor reagent up 14% to
Slide 12: Hematology
Hematology Revenues flat at £5.86m (0.1%) H1 2021 DiaSpect Tm up 12% to £2.44m • Strong performances from McKesson and Fresenius OEM agreements (+£350k) DiaSpect Tm • Large tender win in India for public health projects (+£300k) HemataStat II HemataStat II up 29.69% to £997k • Strong demand from Pla
Slide 13: Global revenue breakdown
Global revenue breakdown APAC Strong return of HbA1c business in Philippines and significant tender wins in India for DiaSpect Tm analysers and cuvettes. EMEA Continued demand in UK and Ireland for PrimeStore MTM from multiple public health and private sector customers. Additional sales to global pa
Slide 14: Current trading and 2022 outlook
Current trading and 2022 outlook • The Board is now very confident that trading for the full year will be comfortably ahead of already • EKF Diagnostics remains confident upgraded management expectations that its growth strategy, as outlined to • Strong trading continued into Q2 shareholders at the
Slide 15: Appendix: Financial report
Appendix Financial report 14
Slide 16: Consolidated Income Statement (Extract)
H1 2021 £k H1 2020 £k +/- £k Consolidated Revenue 38,559 26,329 12,230 Income Statement Gross profit 18,540 14,912 3,628 GM % 48% 57% (9%) (Extract) Administrative expenses (7,017) (8,252) 1,235 Other income 34 57 (23) EBITDA 12,761 8,925 3,836 Share based payments 1,392 (300) 1,692 Exceptional item
Slide 17: Consolidated Balance Sheet (Extract)
Consolidated H1 2021 £k H1 2020 £k +/- £k Balance Sheet Property, plant, equipment Intangible assets 12,957 35,134 13,331 39,347 (374) (4,213) (Extract) Investments 12,818 14,345 (1,527) Inventories 9,766 8,144 1,622 Trade / other receivables 16,107 10,545 5,562 Cash and cash equivalents 20,784 16,8
Slide 18: Balance Sheet: Assets at June 2021
Balance Sheet Assets at 30 June 2021 Selected items H1 2021 £k H1 2020 £k +/- £k Non-current assets Property, plant, equipment 12,957 13,331 (374) Right-of-use assets 890 941 (51) Intangible assets 35,134 39,347 (4,213) Investments 12,818 14,345 (1,527) Deferred tax assets 14 21 (7) Total non-curren
Slide 19: Balance Sheet: Equity and Liabilities at June 2021
Balance Sheet Equity and Liabilities at 30 June 2021 Selected items H1 2021 £k H1 2020 £k +/- £k Total equity 84,857 79,053 5,804 Total non-current liabilities 5,371 4,083 1,288 Current liabilities Trade and other payables 13,152 14,211 (1,059) Lease liabilities 475 721 (246) Deferred consideration
Slide 20: Cash Flow
Cash Flow H1 2021 £k H1 2020 £k +/- £k Profit before income tax 11,424 6,249 5,175 Net cash generated by operating activities 1,129 6,059 (4,930) Net cash used in investing activities (1,929) (1,524) (405) Net cash used in financing activities (577) (402) (175) Net increase in cash and cash equivale
Slide 21: Thank you for your attention
THANK YOU for your attention Head Office info@ekfdiagnostics.com Avon House, 19 Stanwell Road Penarth, Cardiff, CF64 2EZ ekfdiagnostics.com
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