Slide 1: H1’12 Results
H1’12 RESULTS The Diagnostic Specialist
Slide 2: Highlights
Highlights 1
Slide 3: Main Topics
MAIN TOPICS Revenues: Positive growth trend although though macroeconomic environment in Europe CLIA sales ex Vitamin D growing double digits and Vitamin D sales stabilizing Strong performance in Emerging Markets Changes in product and geographical mix: distributors and instruments sales increased s
Slide 4: Q2’12 Highlights
Q1’12 HIGHLIGHTS Q2’12 sales in line with Q2’11 and growing respect to Q1’12, although the YoY comparison was affected by positive extraordinary events in H1’11 and by Vitamin D trends, starting from Q3’11 - 0.6% Q2’12 vs. Q2’11 - 4.4% at cer Revenues + 8.9% Q2’12 vs. Q1’12 + 8.6% at cer Strong prof
Slide 5: H1’12 Highlights
H1’12 HIGHLIGHTS H1’12 sales slightly decreasing respect to H1’11, mainly affected by extraordinary events in H1’11 and Vitamin D trends - 2.8% H1’12 vs. H1’11 Revenues - 5.6% at cer Profitability sustained by CLIA ex Vitamin D sales but affected by NorDiag consolidation effects and substantial chan
Slide 6: Revenues Breakdown: By Technology
REVENUES BREAKDOWN: BY TECHNOLOGY Double digit growth in CLIA sales ex Vitamin D in Q2’12 and H1’12, and Vitamin D sales stabilizing +16.1% Q2’12 vs. Q2’11 CLIA sales ex Vitamin D: +17.1% Q2’12 vs. Q1’12 +12.1% H1’12 vs. H1’11 - 16.2% Q2’12 vs. Q2’11 Vitamin D: - 1.8% Q2’12 vs. Q1’12 - 14.2% H1’12 v
Slide 7: Liaison Systems Installed Base
LIAISON SYSTEMS INSTALLED BASE Liaison and Liaison XL installed in Q2'12 +163 * new systems installed in Q2'12: +134* Liaison XL in Q2'12 + 29 Liaison in Q2'12 Liaison and Liaison XL installed base at June 30th, 2012 4,519 * systems installed as of June 30th, 2012 (from 4,356 at 03/31/2012): 354* Li
Slide 8: Revenues Breakdown: By Geography
REVENUES BREAKDOWN: BY GEOGRAPHy Amounts in millions of euros Q2 H1 Q2’12/Q2’11 H1’12/H1’11 2012 2011 2012 2011 % % at CER % % at CER Europe and Africa 50.0 49.0 98.2 98.0 +2.1% +1.7% +0.2% +0.0% Central and South America 8.0 8.8 14.3 17.5 -8.9% -3.7% -18.1% -15.0% Asia Pacific 14.6 11.5 23.5 21.1 +
Slide 9: Business development
Business development 8
Slide 10: Joint Venture with Trivitron Healthcare
JOINT VENTURE WITH TRIVITRON HEALTHCARE DiaSorin Group joined hands for a Joint Venture with Trivitron Healthcare to enter the Indian market Trivitron Group is among the top 3 Indian groups operating in the Medical Devices industry with an extensive experience in the In Vitro Diagnostic market DiaSo
Slide 11: FY 2012 Pipeline
FY 2012 PIPELINE 2012 Q1 Q2 Q3 Q4 Hormonology Aldosterone IMMUNODIAGNOSTICS GI Stool Testing H. Pylori ✔ GDH Measles IgM ✔ Infectious Diseases Mumps IgM ✔ HTLV I/II PARVO CMV MOLECULAR DIAGNOSTICS EBV Infectious Diseases VZV TOXO BKV HSV 1-2 CML (BCR-ABL p210) CML (BCR-ABL p190) Onco Hematology APL
Slide 12: 2012 US Menu Expansion
2012 US MENU EXPANSION 2012 Q1 Q2 Q3 Q4 C-peptide IGF -I fT4 fT3 Anti-TPO IMMUNODIAGNOSTICS FSH Hormonology LH Prolactin HCG Estradiol II Progesterone II Testosterone Renin Hypertension Aldosterone HSV M + cntr Infectious Diseases Rubella M 11
Slide 13: Q2’12 and H1’12 Financials
Q2’12 and H1’12 FINANCIALS 12
Slide 14: Q2’12 and H1’12 Results: Income Statement
Q2’12 AND H1’12 RESULTS: INCOME STATEMENT* €/mln 2012 2011 Change Q2 H1 Q2 H1 Q2/Q2 H1/H1 Net Revenues 114.6 220.2 115.7 227.1 -1.0% -3.0% Gross profit 78.3 153.0 84.4 164.3 -7.3% -6.9% Gross margin 68.3% 69.5% 73.0% 72.3% S&M (20.4) (40.5) (20.9) (39.4) -2.1% +3.0% R&D (6.1) (11.5) (5.5) (10.7) +10
Slide 15: Q2’12 and H1’12 Results: Income Statement
Q2’12 AND H1’12 RESULTS: INCOME STATEMENT 2012 2011 Change €/mln Q2 H1 Q2 H1 Q2/Q2 H1/H1 Net Revenues 115.0 220.7 115.7 227.1 -0.6%* -2.8%** Gross profit 78.5 153.3 84.4 164.3 -7.0% -6.7% Gross margin 68.3% 69.5% 73.0% 72.3% S&M (20.5) (40.6) (20.9) (39.4) -1.7% +3.2% R&D (6.3) (11.8) (5.5) (10.7) +
Slide 16: H1’12 Results: Balance Sheet
H1’12 RESULTS: BALANCE SHEET €/mln 06/30/2012 03/31/2012 12/31/2011 Total intangible assets 126.4 121.7 121.9 Total tangible assets 64.0 61.3 62.7 Other non-current assets 21.0 20.3 20.7 Net Working Capital 140.3 139.5 133.9 Other non-current liabilities (27.4) (29.2) (29.7) Net Capital Employed 324
Slide 17: Q2’12 Results: Cash Flow Statement
Q2’12 RESULTS: CASH FLOW STATEMENT €/mln 06/30/2012 06/30/2011 Change in value Cash and cash equivalents at beginning of period 64.1 62.4 +1.7 Operating activities 54.9 49.5 +5.4 Financing activities (28.3) (54.5) +26.2 Investing activities (13.3) (11.9) -1.4 M&A (7.6) - - Net Change in net cash and
Slide 18: FY 2012 Guidance
FY 2012 GUIDance Full year 2012 guidance CONFIRMED: Revenues in line with 2011 or slightly growing (nearly +2%) EBITDA margin in line with 2011 or slightly below 2011 level (~ 200 bps) 500-600 new systems installed (Liaison + Liaison XL) 17
Slide 19: DiaSorin Analysts’ Day: Save the Date
DIASORIN ANALYSTS’ DAY: SAVE THE DATE 18