Diasorin S.p.a. · MIL:DIA
Diasorin — FY2019 Earnings Presentation
16 slides from Diasorin's earnings presentation, Mar 11, 2020
Slide 1: FY 2019 Results
FY 2019 RESULTS March 11, 2020
Slide 2: Disclaimer
Disclaimer These statements are related, among others, to the intent, belief or current expectations of the customer base, estimates regarding future growth in the different business lines and the global business, market share, financial results and other aspects of the activities and situation rela
Slide 3: Highlights
Highlights FY’2019 PLACEMENTS VALUE IN €/mln @ curr @ CER FY 2019 @DEC 31, 2019 REVENUES 706.3 +5.5% +3.8% CLIA EX VIT D +10.9% +9.7% VIT D +0.5% -2.4% +515 4,516 ELISA TESTS -1.3% -2.8% MOLECULAR TESTS +12.6% +7.3% INSTRUMENTS & OTHER REVENUES -6.5% -7.2% EBITDA 276.8 +8.4% +6.3%(*) -75 3,773 EBITD
Slide 4: Business and Product development Highlights
Business and Product development Highlights IMMUNODIAGNOSTICS MOLECULAR DIAGNOSTICS NEW PANEL LAUNCH: ANAEMIA INFECTIOUS DISEASES KIT: VZV Completion of the anemia panel, with launch of Vitamin B12 and Folate tests Launch of VZV test for the detection of varicella-zoster virus from both cutaneous an
Slide 5: FY 2019 revenue growth
FY 2019 revenue growth FY’19 vs. FY’18 FY’19 vs. FY’18 @ curr +5.5% EUROPE & AFRICA +4.9% Total Group revenues @ CER +3.8% Italy +16.3% Upward trend of CLIA panel, particularly LTB, PCT and GI • All CLIA tests, net of Vitamin D Germany +3.7% Upward trend of ID, Heps and GI, partly offset by lower EL
Slide 6: FY revenues growth managerial outlook @ 2018 CER
FY revenues growth managerial outlook @ 2018 CER +2.0% Latin +8.7% America Direct Asia Pacific Direct Export +3.8% USA & Canada Direct 694.3 +7.7% Europe & Africa Direct -12.7% 669.2 Direct Sales +6.3% FY 2018 FY 2019 Managerial outlook on reported data 6
Slide 7: FY 2019 revenues breakdown @ current exchange rate
FY 2019 revenues breakdown @ current exchange rate BY GEOGRAPHY BY TECHNOLOGY Instruments & other revenues 11.6% FY’ 18 US and Canada FY’ 18 28.1% Molecular diagnostic tests) Europe & Africa 8.5% 46.3% CLIA tests 65.7% ELISA tests Asia Pacific 14.2% 19.3% Latin America 6.3% Instruments & other reven
Slide 8: Installed base expansion
Installed base expansion 7,849 7,952 8,061 8,156 8,289 +515 4,001 +124 4,125 +126 4,251 +113 4,364 +152 4,516 LAS 3,848 -21 3,827 -17 3,810 -18 3,792 -19 3,773 -75 @ Dec 31 @ March 31 @ June 30 @ Sept 30 @ Dec 31 2018 2018 2018 2018 2019 8
Slide 9: FY 2019 profitability profile
FY 2019 profitability profile FY’19 EBITDA upward as result of: FY’18 FY’19 Change % • Increase in Gross Profit due to an increase of specialty sales, favorable geographic and channel mix, and manufacturing EBITDA (€/MLN) 255.4 276.8 +8.4% efficiencies @ CER +6.3% • Net of the exchange rate effect a
Slide 10: Company Guidance
Company Guidance 10
Slide 11: Company Guidance
Company Guidance FY’20 AT CER(*), COMPARED TO 2019 GROWTH APPROXIMATELY REVENUES +5.0% EBITDA MARGIN BETWEEN +38% AND +39% GUIDANCE DOES NOT INCORPORATE POTENTIAL NEGATIVE EFFECTS DERIVING FROM THE RECENT CORONAVIRUS EPIDEMIC (COVID-19) (*) 2019 €/US$ AVG. EXCHANGE RATE = 1.12 11
Slide 12: Financial schemes
Financial schemes 12
Slide 13: Income Statement
Income Statement FY Change Data in € million 2018 2019 amount % Net Revenues 669.2 706.3 +37.1 +5.5% Cost of sales (213.4) (217.6) -4.2 +2.0% Gross profit 455.8 488.7 +32.9 +7.2% Gross Margin 68.1% 69.2% +1.1% Sales and marketing expenses (133.1) (142.8) -9.7 +7.3% Research and development costs (45
Slide 14: Balance Sheet
Balance Sheet Data in € million 12/31/18 12/31/19 Change Goodwill and intangibles assets 373.1 370.3 -2.8 Property, plant and equipment 95.0 128.4 +33.4 Other non-current assets 23.0 34.1 +11.1 Net working capital 201.0 211.0 +9.9 Other non-current liabilities (62.7) (68.0) -5.3 Net Invested Capital
Slide 15: Cash flow statement
Cash flow statement FY (Amounts in million of euros) 2018 2019 Cash and cash equivalents at the beginning of the period 159.3 73.1 Cash provided by operating activities 209.9 232.7 Cash used in investing activities (49.4) (52.2) Cash provided/(used) in financing activities (215.2) (68.4) Acquisition
Slide 16: DiaSorin
DiaSorin