Bonesupport Holding Ab · OMXSTO:BONEX
Bonesupport Holding Ab — Q1 2019 Earnings Presentation
17 slides from Bonesupport Holding Ab's earnings presentation, May 2019
Slide 1: BONESUPPORT Q1(19)
BONESUPPORT™ Q1(19) May 2019 Emil Billbäck, CEO Håkan Johansson CFO
Slide 2: Disclaimer
DISCLAIMER This presentation, which includes all information and data on the following slides, any oral statements made when presenting these slides, and any other material distributed or statements made at, or in connection with, such presentation (the “Presentation”), relates to BONESUPPORT HOLDIN
Slide 3: Financial highlights / Operational highlights
Financial highlights • Q1(19) net sales SEK33m, +5% YoY • EU & ROW: +41% Y/Y to SEK21m • CERAMENT G & V +54% • North America: strong Q/Q growth • Significant Q/Q EBIT improvement Operational highlights • Strong Market Access Progression in US – eg Ascension (GPO) • First human study published valida
Slide 4: CERAMENT - strong sales growth
CERAMENT® - strong sales growth “Low point” in Q4 2018 has been passed. Sequential growth, Q-by-Q, in the US and strong sales productivity gains in Europe LTM Quarterly sales per segment 140 SEK m 132 129 128 Growth traction 126 119 EUROW 120 114 105 101 98 98 100 97 H1 2018: +14% 82 80 71 Q3 2018:
Slide 5: EU + ROW – Strong sales growth with antibiotic eluting products
EU + ROW – Strong sales growth with antibiotic eluting products Q1 2019 • Total sales of SEK21.3m, growth of 41% • Antibiotic eluting products growth of 54% Sales highlight • Sales force expansions starts to positively impact results • Disclosed CERTiFy result drives sales growth in Trauma Clinical
Slide 6: North America – strong growth Q/Q
North America – strong growth Q/Q Q1 2019 • Total sales of SEK11.5m, up from 4.2m in Q4(18) • Good mix of new and legacy accounts New distribution network (since Oct 2018) • 40 independent distributors, totalling over 500 sales reps • As of May 20th, Zimmer Biomet cannot sell BONESUPPORT’s products
Slide 7: Unique Publication – first clinical study on humans verifying bone remodelling of CERAMENT
Unique Publication – first clinical study on humans verifying bone remodelling of CERAMENT® through histological data Trial Design 1 Retrospective review of 138 patient Early biopsy: Radiographs for assessment with minimum 12 1. CERAMENT month follow up 2 2. Osteoblastic cells line the surface of th
Slide 8: Financial Review
Financial Review
Slide 9: Q1(19) net sales SEK33m – turning point Q3(18)
Q1(19) net sales SEK33m – turning point Q3(18) +6% Net Sales Q1 +2% LTM from Q4 9
Slide 10: North America – strong Q/Q sales
North America – strong Q/Q sales Jan-Mar (SEKm) 2019 2018 Net Sales 11.5 15.9 Net sales Gross profit 10.3 13.5 Q1 Contribution -15.7 -2.0 SEK 12m 10
Slide 11: EUROW – strong Y/Y growth – driven by CERAMENT G & V
EUROW – strong Y/Y growth – driven by CERAMENT G & V Jan-Mar (SEKm) 2019 2018 Net Sales 21.3 15.2 41% Gross profit 17.9 12.1 Net Sales Q1 Contribution 0.9 -0.8 Europe increased with 41% 11
Slide 12: Well funded to profitability
Well funded to profitability Key Figures 2019 2018 2017 SEK m Q1 Q4 Q3 (i) Q2 Q1 Q4 Q3 Q2 Net Sales 32.8 23.1 14.3 28.2 31.1 27.0 32.7 37.1 Gross Margin (%) 85.9 85.0 81.8 87.4 82.1 83.3 87.8 87.2 Operating Loss -39.0 -45.0 -58.4 -37.8 -33.1 -33.4 -20.1 -18.4 Cash at period end 219.1 261.5 313.2 368
Slide 13: Focused investments in commercial acceleration
Focused investments in commercial acceleration Key Figures 2019 2018 2017 SEK m Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Selling expenses 40.8 38.8 35.1 31.8 27.6 21.5 24.4 22.2 Research and 16.9 17.6 16.4 17.2 14.8 19.7 12.8 18.7 Development expenses Administrative 10.4 9.3 17.5 14.9 16.5 15.7 11.1 9.2 expenses Tot
Slide 14: Clear Corporate Goals to Drive Value
Clear Corporate Goals to Drive Value
Slide 15: Delivering on updated strategy
Delivering on updated strategy • 2018 was a transformation year, results are now starting to show • Expect an increasing trend Q/Q in EU and US leading to a significant uplift in sales in 2019 ‒ Market access success in the US ‒ Bigger, more focused European sales team in place ‒ New complementary p
Slide 16: Value generating milestones for CERAMENT
Value generating milestones for CERAMENT® Q3 2019 CERAMENT®|G Canada Launch Q1 2019 May 20th ZB not 2020 2021 BONIFY permitted to sell CERAMENT®|G CERAMENT®|G Launch CERAMENT – PMA Filing US Approval 2019 2020 2021 2022 Q1 2019 H2 2019 2022 Q3 2019 2020: SOLARIO FORTIFY Patient SOLARIO Health FORTIF
Slide 17: Q&A
Q&A