Compumedics Limited · ASX:CMP
Compumedics — Shareholder Meeting (November 2008)
29 slides from Compumedics's shareholder meeting presentation, November 2008
Slide 1: Annual General Meeting, November 2008
COMPUMEDICS ‘Defining Life's Signals’ ‘Defining Life’s Signals’ > Annual General Meeting, November 2008
Slide 2: Agenda
Agenda Meeting opens Chairman's address Ordinary business Meeting closes Slide 2
Slide 3: Chairman's address
CG ‘Defining Life’s Signals’ COMPUMEDICS LIMITED
Slide 4: Overview
Over view Financial update – highlights Financial update - details Business unit revenues Geographic revenues Key activities completed Early FY2009 performance Outlook – financial Outlook – technology Recap Slide 4
Slide 5: Financial update - highlights
Financial update - highlights Record revenues at $38.5m despite the then strong Australian dollar FY2008 profits and operating cash significantly grow year- on-year, 515% and 125% respectively Operating costs stable despite investing activities Debt reduced year-on-year by a further 18% R&
Slide 6: Financial update - details
Financial update - details Gross margins stable at approximately 58% despite strengthening Australian dollar Operating expenses less investing activities stable with last years spending - $19.1m compared to $19.5m in the prior year EBITDA up to $1.9m profit compared to prior year profit of $1.
Slide 7: Financial update - details
Financial update - details Borrowings were reduced by a further 18% from $3.4 in . the prior year to $2.8m at end of FY2008 Borrowing costs at $0.7m were 18% lower than the prior year’s $0.9m Sales in USA (+10%), Australia (+12%) and DWL (+4%) were up but sales in Europe declined (-14%), the l
Slide 8: Financial update - details
Financial update - details 2005 2006 2007 2008 actual actual actual actual Revenues ($m) 38.2 37.7 36.7 38.5 Margins % 53% 52% 58% 58% Other income 0.3 1.3 0.1 0.4 Operating Expenses 24.3 22.1 19.5 20.3 EBITDA (2.6) (0.5) 1.3 1.9 NPAT (4.7) (1.6) 0.1 0.8 AUD/USD exchange rate 0.76 0.73 0.84 0.96 Sli
Slide 9: Financial update - details
Financial update - details Total group sales stabilised despite rising Australian dollar Revenue growth curtailed in 45 DWL acquisition AUD’s 40 35 30 25 Neuroscan AUDm acquisition 20 15 10 5 0 2002 2003 2004 2005 2006 2007 2008 Total sales FX adjusted sales Slide 9
Slide 10: Financial update - details
Financial update - details Gross Margins % improving as a result of on-going restructuring and cost improvements programs and despite the surging Australian dollar 60 50 40 % 30 20 10 0 2002 2003 2004 2005 2006 2007 2008 Slide 10
Slide 11: Financial update - details
Financial update - details Operating Expenses stable despite cost pressures and investing activities for future revenue growth $1.2m charge 25 for investing activities DWL acquisition 20 Neuroscan 15 acquisition AUDm 10 5 0 2002 2003 2004 2005 2006 2007 2008 Slide 11
Slide 12: Financial update - details
Financial update - details EBITDA continues to grow 3 2 1 AUDm 0 -1 -2 -3 2002 2003 2004 2005 2006 2007 2008 Slide 12
Slide 13: Financial update - details
Financial update - details Debt continues to decline – a further 18% reduction year-on-year 9 Neuroscan 8 acquisition 7 DWL acquisition 6 5 AUDm 4 3 2 1 0 2002 2003 2004 2005 2006 2007 2008 Slide 13
Slide 14: Financial update - details
Financial update - details Financing costs begin to decline – 18% year-on-year 0.9 0.8 0.7 0.6 0.5 AUDm 0.4 0.3 0.2 0.1 0 2002 2003 2004 2005 2006 2007 2008 Slide 14
Slide 15: Financial update - details
Financial update - details Foreign exchange impacts adversely in current financial year Exchange movements relate 0.6 largely to consolidation of off shore group subsidiaries 0.4 0.2 0 AUDm -0.2 -0.4 -0.6 -0.8 -1 2002 2003 2004 2005 2006 2007 2008 Slide 15
Slide 16: Business unit revenues
Business unit revenues Business unit revenues stable across all business units with annuity-style supplies revenues increasing 20 18 16 14 12 AUDm 10 8 6 4 2 0 2002 2003 2004 2005 2006 2007 2008 Sleep Brain research EEG/DWL Supplies/Service Slide 16
Slide 17: Geographic revenues
Geographic revenues MI Australia 2008 F Y Asia 1% 2006 FY 12% A us t r al i a 20% Asia 16% Europe 17% 26% Eur ope USA MI 26% USA 42% 1% 40% Asia Australia 13% 14% Europe USA 29% 43% 2007 FY Slide 17
Slide 18: Key achievements completed in FY2008
Key achievements completed in FY2008 Revenues increase 5% despite a 14% increase in the Australian dollar to the US dollar at that time First full year of sub-lease of the Melbourne office reflected in the results SomniLink® SPAP® product close to commercial shipping Neuvo® long term monitor
Slide 19: Early FY2009 performance update
Early FY2009 performance update Compumedics like all entities in the current environment is having to deal with rapidly changing and unpredictable circumstances. The Company remains firmly focused on achieving profitable growth despite the adverse and unique external circumstances we find oursel
Slide 20: Outlook – financial
Outlook – financial The Company is currently implementing the most significant new product release program in the Company’s history. The following three new product releases are into the existing core medical diagnostic business: • Grael PSG – the next generation laboratory based sleep diagnostic
Slide 21: Outlook - technology
Outlook - technology DWL Blood Flow Neuroscan Diagnostics Sleep Diagnostics Neuro Neuro Diagnostics Medical Building a global medical diagnostic company Supplies With Compumedics’ core strategic edge being Sleep Diagnostics Leveraging this technology into related fields including Neurosciences,
Slide 22: Outlook - technology: New Products
Outlook - technology New Products Xegis® Neuvo® Slide 22
Slide 23: Outlook - technology
Outlook - technology No other company has the world’s leading technology and/or market position covering 3 of the key rapid growth new generation medical technology market first discovered in the 1980s •Clinical Sleep •Transcranial Doppler (TCD) •Computerised Cognitive Neuroscience/EEG brain functio
Slide 24: Outlook - technology: Sleep Market
Outlook - technology Sleep Market Pioneering of computerised PSG (CMP;1987) and CPAP treatment discovery [Sullivan, CE (1981), Sydney Australia] 40% of the Australian Clinical EEG Market and 70% of the Australian Sleep Diagnostics Market. Sleep Heart Health Study 10% USA market share and growi
Slide 25: Outlook - technology: Transcranial Doppler Market
Outlook - technology Transcranial Doppler (TCD) Market Developed by Dr. Rune Aaslid in 1982, today DWL’s client DWL has a strong market share in Germany and well established distribution networks in Europe World’s firsts include : Q Bilateral Doppler , Q Emboli differentiation Q Full digital D
Slide 26: Outlook - technology: Cognitive Neuroscience/EEG
Outlook - technology Computerised Cognitive Neuroscience/EEG brain function Pioneered by Neuroscan in 1989 Commands 90% of the US Market for Research EEG applications and a significant market share worldwide. Sells its products in over 50 countries worldwide to over 1500 universities, corporat
Slide 27: Business Recap
Business Recap Record revenues despite the then strong Australian dollar EBITDA, profits after tax and operating cash flows all improving year-on-year Debt further reduced by 18% year on year to $2.8m and below this in recent months Cost vigilance to remain R&D product pipeline strong Fo
Slide 28: Ordinary business
Ordinary business Item 1 Financial Statements and Reports (non binding resolution) Item 2 Election of a Director Item 3 Adoption of Remuneration Report (non binding resolution) Item 4 Removal of auditor Item 5 Appointment of auditor Slide 28
Slide 29: Thankyou
COMPUMEDICS ‘Defining Life's Signals’ ‘Defining Life’s Signals’ > Thankyou