El.en. S.p.a. · MIL:ELN
El.en — Investor Presentation (October 2015)
30 slides from El.en's investor presentation, Oct 21, 2015
Slide 1: Company Presentation
COMPANY PRESENTATION Oct. 21st , 2015
Slide 2: Disclaimer
Disclaimer Certain statements in this slide show, including those addressing the Company’s beliefs, plans, objectives, estimates or expectations of possible future results or events, are forward-looking statements. Forward-looking statements involve known or unknown risks, including general economic
Slide 3: Summary
Summary 1. LASERS AND LASER APPLICATIONS 2. THE GLOBAL LASER MARKET 3. EL.EN. GROUP 4. H1 - 2015 FINANCIAL RESULTS 5. 2015 GUIDANCE 6. EL.EN. STOCK, MULTIPLES & COMPARABLES
Slide 4: Lasers and Laser Applications
Lasers and Laser Applications
Slide 5: Laser
LASER Light Amplification by Stimulated Emission of Radiation MEDICAL LASER Systems INDUSTRIAL LASER Systems
Slide 6: Medical Applications
Medical Applications €u.€n. ELEn. Group CO> Laser DOTs eatment - No anaesthesia www.elengroup.com
Slide 7: Aesthetic Applications
Aesthetic Applications €C.&. —— EL En. Group Rimozione di tatuaggio Per gentile concessione di: Prof. P Campolmi - Prof. G. Cannarozzo, Firenze - Italia
Slide 8: Industrial Applications
Industrial Applications 9 €.&. r —————— |
Slide 9: Conservation
En, EL En. Group Conservation
Slide 10: The Global Laser Market
° ——ELEN. Group The Global Laser Market ai
Slide 11: The Medical Laser Market
The MEDICAL Laser Market Market CAGR 2013-2018 Market segment North Europe Asia Latin Total America America Energy Devices 6,9% 3,2% 15,3% 9,0% 7,8% Skin Rejuvenation 7,3% 5,8% 13,0% 11,8% 8,2% Body Contouring 11,3% 6,4% 18,3% 15,7% 12,4% Source: Medical Insight, Inc.
Slide 12: The Industrial Laser Market
The INDUSTRIAL Laser Market Global market and forecast for high power laser systems by application (by value) By Value Global Market (EUR Million) CAGR (%) 2013 2016 2020 2013-2016 2016-2020 Cutting 2.408 3.014 3.965 7,8 7,1 Welding and Brazing 1.249 1.605 2.231 8,7 8,6 Surface treatment and Other 5
Slide 13: El.En. Group
—— EL En. Group El.En. Group
Slide 14: Group Overview
Group Overview High –Tech laser photonics Group Develops, manufactures and distributes laser sources and laser systems for medical and industrial applications Know-how based on 30 years stratification of multidisciplinary experience FY 2014: Consolidated Revenues of €180 mln, up 14% YoY H1 2015: Con
Slide 15: El.En. Group
El.En. Group C.&.
Slide 16: Strategic Strengths
Strategic Strengths Multidisciplinary and multifacility R&D activity: sources, systems, applications Industrial Combine High tech laser source development with flexible production facilities in high growth areas Medical Technological and clinical innovation improving performance and broadening the a
Slide 17: Consolidated Revenues and EBIT
Consolidated Revenues and EBIT 225 25 200 SALES EBIT 20 175 150 15 125 10 100 75 5 50 0 25 0 (5) 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015E
Slide 18: R&D Activity
R&D Activity Clinical trials and validations of new therapeutic laser treatments and research on new applications of laser- tissue interaction Broadening Mona Lisa Touch Clinical studies Central role of PHOTOBIOLAB Clinical studies on cutaneous ulcers New Pico second laser platform New dermatologica
Slide 19: H1 - 2015 Financial Results
H1 - 2015 Financial Results ai
Slide 20: Consolidated P&L
Consolidated P&L Euro/000 30/06/14 30/06/15 Var.% Revenues 80.398 100,0% 106.884 100,0% 32,9% Gross margin 38.058 47,3% 48.077 45,0% 26,3% EBITDA 7.044 8,8% 12.529 11,7% 77,9% EBIT (*) 6.484 8,1% 10.374 9,7% 60,0% Pretax Income (**) 11.359 14,1% 11.694 10,9% 3,0% Net income (**) 8.492 10,6% 7.623 7,
Slide 21: Consolidated BS
Consolidated BS Euro/000 31/12/14 30/06/15 Var.% Total non current assets 61.775 87.004 41% Net Working Capital 49.501 62.036 25% Net financial position 47.116 24.758 -47% Long term liabilities 7.856 7.991 2% Net Equity 150.536 165.807 10% Net capital employed 103.420 141.048 36% Net Working Capital
Slide 22: Medical Laser: Breakdown by Area
Medical Laser: Breakdown by Area 20 18 16 14 12 Mln10 8 6 4 2 0 Italy Europe North Americas F/M East Japan America H1/14 H1/15 +32%
Slide 23: Industrial Laser: Breakdown by Area
Industrial Laser: Breakdown by Area 25 20 15 Mln 10 5 0 Italy Europe Americas Far East H1/14 H1/15 +35%
Slide 24: 2015 Guidance
2015 Guidance ai
Slide 25: 2015 Forecast
2015 forecast OLD Sales: 200 mln +11% EBIT: % on Sales and amount to improve on 2014 NEW Sales: >210 mln +17% EBIT: >20 mln
Slide 26: El.En. Stock, Multiples & Comparables
El.En. Stock, Multiples & Comparables
Slide 27: El.En. Stock
El.En. Stock 6a. 45 30 25 20 15 10 | i i | = | | | | a | = i i ! | ae | . 2001 2002 2003 2004 2005— 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 www.elengroup.com
Slide 28: El.En. Multiples
El.En. Multiples Stockholder's Equity per share * 32 Price / Book Value Adj. 1,28 EV /EBIT (85% EBIT) 7,45 EV / Sales (85% Sales) 0,72 El.En. Market Cap. 197,4 @ € 40,92 Net financial position 24,8 @ 30/06/15 Financial investments m/l term 9,5 @ 30/06/15 Market value of 1,0 mm Cynosure shares 31,7 @
Slide 29: El.En. Comparables
El.En. Comparables Price Revenue Var.% EBIT EBIT % MK.Cap. EV EV/Sales EV/EBIT P/Book June 30, 2015 Revenue (*) (*) Value Medical/Aesthetic Syneron $8,94 $136.884 13% $(1.404) -1% $325.090 $232.807 0,85 n.a. 1,45 Zeltiq $35,81 $115.989 49% $(41) 0% $1.390.000 $1.341.613 5,78 n.a. 18,72 Cutera $15,10
Slide 30: Investor Relations Contacts
El.En. SPA Enrico ROMAGNOLI Investor Relations Manager tel. +39 055-8826807 E-mail: finance@elen.it POLYTEMS HIR SRL Bianca FERSINI MASTELLONI Financial Communication Tel. +39 06-6797849 / +39 06-69923324 E-mail: b.fersini@polytemshir.it POLYTEMS HIR SRL Veronica ADRIANI Press office Tel. +39 06-679