Ekf Diagnostics Holdings Plc · LSE:EKF
Ekf Diagnostics — H1 2016 Earnings Presentation
19 slides from Ekf Diagnostics's earnings presentation, Sep 12, 2016
Slide 1: Financial results for six months ended 30th June 2016
Financial results for six months ended 30th June 2016 Julian Baines, Chief Executive Officer Richard Evans, Finance Director & COO 12th September 2016
Slide 2: Agenda
Agenda Slide no. 3. H1 Highlights 4. H1 Financial performance 5. Business Unit performance 6. Geographic divisional split 7. H2 Challenges 8. Summary 9. Appendix 1: Financial report 13. Appendix 2: Business unit performance 2
Slide 3: H1 Highlights
H1 Highlights 20 • Revenues up 18% to £17.51m (2015 restated: £14.86m) 18 • Sold 7,029 analysers and 35.33m tests • On track to reach higher end of AEBITDA FY forecast of £3.5-£4.0m 16 • Benefits of restructuring starting to pull through 14 • Restructuring of the group: 12 2012 • Closure of Dublin f
Slide 4: H1 Financial performance
H1 Financial performance 20 • Gross profit up 10% to £8.42m (2015 restated: £7.67m) 18 • AEBITDA up 57% to £2.02m (2015 restated: £1.29m) • Cash and cash equivalents: £3.24m (2015: £2.08m) 16 • Cash generated from operations: £1.4m (2015 restated: £2.1m used) 14 • Net debt of £4.3m (2015: £8.8m) 12
Slide 5: Business Unit performance
Business Unit performance H1 2016 £k H1 2015 £k +/- % Hematology 5,182 4,283 21% Diabetes 4,816 3,979 21% Maternal Health 1,390 1,218 14% Central Laboratory 5,699 4,609 24% Other 420 775 17,507 14,864 5
Slide 6: Geographical divisional split
Geographical divisional split H1 2016 H1 2015 H1 revenue 2016 v 2015 £’000 £’000 APAC 1,956 2,129 -8% EMEA 6,459 5,098 27% EKF LS 984 1,011 -3% LATAM 1,636 1,396 17% USCAN 6,471 5,230 24% 17,507 14,864 18% 6
Slide 7: H2 Challenges
H2 Challenges Regulatory • Re-registration of QDL products following transfer of production • Complexity and duration of FDA and CFDA submissions for DiaSpect Tm • New IVDR come into effect 2016/17. Significant resources required to comply Connectivity • Increasing requirement to meet individual cou
Slide 8: Summary
Summary • H1 growth built on ‘back to basics’ approach • Reduced cost base through centralised manufacturing and reduced headcount • Sales growth from key markets: – USA: Relaunch of HemoPoint H2 and B-HB – Middle East: Only significant tender win in year to date – South east Asia: Growing penetrati
Slide 9: Appendix: Financial report
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Slide 10: Income statement: Extract
Income statement: Extract H1 2016 H1 2015 +/- £’000 £’000 £’000 Revenue 17,507 14,864 2,643 Gross profit 8,416 7,674 742 GP % 48% 52% (4%) Admin. costs (9,358) 99 (9,457) Other income 32 129 (97) Operating (loss)/profit (910) 7,902 (8,812) AEBITDA 2,019 1,289 730 Overheads 6,831 6,951 (120) Exceptio
Slide 11: Balance Sheet / Cashflow: Extract
Balance Sheet / Cashflow: Extract June 2016 Dec 2015 +/- £’000 £’000 £’000 Intangible assets 46,778 42,927 (3,851) PPE 11,978 10,680 1,298 Inventories 7,915 8,234 (319) Trade / other receivables 8,137 7,242 895 Cash and cash equivalents 3,242 2,017 1,225 Borrowings 7,517 10,842 (3,325) Net (debt) /
Slide 12: Cashflow
Cashflow H1 2016 £’000 Cash at beginning of period 2,017 Cash generated in operating activities 1,354 Cash used in investing activities (1,129) Cash generated by financing activities 736 Net increase in cash 961 Exchange gains 264 Cash at end of period 3,242 12
Slide 13: Appendix: Business unit performance
Appendix 2 Business unit performance
Slide 14: Point-of-Care: Hematology
Point-of-Care Hematology • Revenues up £898k (21%) • Transition of H2 sales in USA from Alere to EKF USA 1st June Hematology range DiaSpect Tm • Hemo Control/H2 up 35% YoY Hematastat II • DiaSpect Tm/CompoLab up 31% YoY Hemo Control • H2 2016 strategy to focus on: HemoPoint H2 • Consolidate H2 distr
Slide 15: Point-of-Care: Diabetes
Point-of-Care Diabetes • Revenues up £837k (21%) YoY • Quo-Test and Quo-Lab up 72% Diabetes range • STAT-Site M BHB up 68% Biosen C-Line • Biosen down 11% Biosen S-Line Quo-Lab A1c • H2 2016 strategy to focus on: Quo-Test A1c • Driving revenue from Quo-Lab OEM agreements STAT-Site M b-HB • SSM BHB f
Slide 16: Point-of-Care: Maternal & Women's Health
Point-of-Care Maternal & Women’s Health • Revenues up £172k (+14%) YoY • Ten-fold increase in unit sales of Creamatocrit Maternal & • Lactate Scout+ up 19% Women’s Health • Pregnancy kits up 7% range • 2016 strategy to focus on: Creamatocrit • Increase revenues from Lactate Scout+ through price incr
Slide 17: Central Laboratory
Central Laboratory Clinical chemistry, centrifuges and enzymes • Total central laboratory sales +£1,090k (+24%): Central • Beta-Hydroxybutyrate Liquicolor reagent up 72% Laboratory range • Incremental sales from launch of Altair 240 clinical chemistry analyser Centrifuges Clinical chemistry • Small
Slide 18: Thank you
Thank you Diagnostics | — <r | for life
Slide 19: Product performance
Product performance H1 2016 H1 2015 2016 v 2015 H1 revenue £’000 £’000 % change Hemo Control & H2 2,511 1,865 35% DiaSpect 1,169 890 31% SSM Hgb 233 268 -13% Quo-Test 1,507 627 140% Quo-Lab 692 712 -3% Biosen 2,174 2,443 -11% Lactate Scout 527 442 19% Other POCT 56 54 4% b-HB Liquicolor 3,100 1,810
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