Ekf Diagnostics Holdings Plc · LSE:EKF
Ekf Diagnostics — FY2024 Earnings Presentation
25 slides from Ekf Diagnostics's earnings presentation, Mar 25, 2025
Slide 1: EKF Diagnostics Holdings plc Preliminary Results Presentation
EKF Diagnostics Holdings plc Preliminary Results Presentation Year Ended 31 December 2024 ekfdiagnostics.com
Slide 2: The EKF Team
The EKF Team Julian Baines Gavin Jones Stephen Young Executive Chair Chief Executive Officer Chief Financial Officer Experienced CEO and Exec Chair Previously Chief Product Officer for Experienced Finance Director & CFO with proven industry acumen EKF Diagnostics Holdings plc AIM experience across m
Slide 3: Financial Highlights
Financial Highlights • Revenues of £50.2m • Gross profit before exceptionals of £24.4m • Gross margin improved to 48% (2023: 45%) • Adjusted EBITDA of £11.3m (2023: £10.4m) • Profit before tax of £6.3m • Cash generated from operations of £12.2m • Group cash, net of borrowings (excluding IFRS 16 liab
Slide 4: Board Expectations 2024
Board Expectations 2024 Realignment of cost base Stabilize cash position 01 Reduce cost base to better represent the overall business 02 Improve the cash position and reserves to better deploy size and growth opportunity capital in coming years Achieved Ahead 9.2% increase in adjusted EBITDA to £11.
Slide 5: Point-of-Care Analyzers Sold
Point-of-Care Analyzers Sold Hematology Diabetes Other Hematology 10k Continued growth with increased demand starting to outstrip supply towards the end of 2024 Diabetes 1k Stable but no significant growth due to fragmentation 13 thousand of the market Other 2k Sports performance products continued
Slide 6: Point-of-Care Tests Sold
Point-of-Care Tests Sold Americas EMEA APAC Americas 11m+ Stable business in the US with some growth offset by political headwinds in LATAM EMEA 74m+ Reduction in reimbursement rates within fragmented 100 million+ Diabetes market offset by strong Hematology business APAC 20m+ Expansion in Hematology
Slide 7: Geographic Highlights
Geographic Highlights Revenue 30,000 Stateside growth 25,000 4% Positive regional growth of 4% shown in US driven by strong β-HB expansion with key partners 20,000 Africa delivers on Hematology £’m 15,000 (11%) EMEA was down 11% due to a reduction in Diabetes 10,000 testing, ongoing support of Hemog
Slide 8: Board Expectations 2025
Board Expectations 2025 Capital deployment to deliver Implement share buyback to improve 01 sustainable growth and unlock 02 earnings per share (EPS) unrealized potential Investment in Operational Excellence to increase Utilize cash reserves to implement a progressive, production capacity, impro
Slide 9: Five-Year Strategy: Sustainable Growth
Five-Year Strategy: Sustainable Growth Stretch Target 2029 Stretch Target 2029 Stretch Target 2029 Revenue: >£80m #1 Point-of-Care (POC) #1 Ketone Testing (β-HB) EBITDA: >£20m Hemoglobin Laboratory & POC Continued investment in Commercial investment to Operational Excellence to Product Development /
Slide 10: Five-Year Strategy: Sustainable Growth
Five-Year Strategy: Sustainable Growth Life Sciences realignment 1 Establish market-specific commercial and technical resources to gain better access to high-value Diagnostic, Pharma and Biotech customers by 2026 Product improvement 2 Updates to existing products in Hematology and β-HB to deliver be
Slide 11: Capital Deployment: Operational Excellence
Capital Deployment: Operational Excellence Analyzer Build from DE Operations 14000 Year-on-year growth 32% Expansion of analyzer build year on year, 32% 12000 increase in 2024 against 2023, this will drive pull through of consumables, 10000 Total analyzers 8000 43% Total projected analyzer demand in
Slide 12: Capital Deployment: Commercial
Capital Deployment: Commercial Life Sciences realignment Life Sciences Point-of-Care Dedicated commercial team 1 • New commercial team in place to review pipeline • Realignment of commercial team post- opportunities and drive new business development discontinued product lines β-HB Hematology • Clos
Slide 13: Five-Year Strategy Goals
Five-Year Strategy Goals Stretch Target Stretch Target Stretch Target 2029 2029 2029 #1 Point-of-Care #1 Ketone Testing Revenue: >£80m (POC) (β-HB) EBITDA: >£20m Hemoglobin Laboratory & POC 13
Slide 14: Outlook
Outlook Capital deployment to support the implementation of the foundations of the five-year growth strategy o Strengthen the commercial teams in Life Sciences and Point-of-Care, develop the technical resources to serve customer demand, and new product development in focus areas Drive organic growth
Slide 15: Thank You
Thank You Thank You ekfdiagnostics.com
Slide 16: Financial
Financial 16
Slide 17: Financial Highlights
Financial Highlights • Gross profit before exceptionals of £24.4m (2023: £24.4m) • Gross margin improved to 48% (2023: 45%) • Admin expenses reduced by £1.6m • Increased Adjusted EBITDA of £11.3m (2023: £10.4m) • Profit before tax of £6.3m (2023: £2.1m) • Net cash generated from operating activities
Slide 18: Business Units
Business Units £ millions 2024 2023 +/- £k Point-of-Care 31,404 32,175 (771) Life Sciences 16,655 15,840 815 Other 989 1,146 (157) 02 Discontinued Products 1,146 3,450 (2,304) Total Group Revenues 50,194 52,611 (2,417) 03 18
Slide 19: Income Statement
Income Statement £ '000 2024 2023 +/- £k Revenue 50,194 52,611 (2,417) Cost of Sales (25,798) (28,175) 2,377 Exceptional items (330) (577) 247 Gross Profit 24,066 23,859 207 Gross Margin % 48% 45% 3% 02 Admin Expenses/Overheads (18,078) (19,680) 1,602 Exceptional items (22) (2,256) 2,234 Other Incom
Slide 20: Appendices
Appendices 20
Slide 21: Non-executive Directors
Non-executive Directors Christian Rigg - Senior Independent Non-executive Director Chris Rigg is a chartered accountant who has significant executive experience at both public and private companies. He is Chief Executive Officer of PAM Group, a private equity backed healthcare business. He was forme
Slide 22: Balance Sheet – Assets
Balance Sheet – Assets £ '000 2024 2023 +/- £k Fixed assets 24,034 24,775 (741) Intangible assets 28,922 30,224 (1,302) Investments 228 276 (48) Deferred tax 9 18 (9) Inventories 7,393 8,766 (1,373) 02 Receivables 6,803 6,787 16 Corporation tax 55 2,277 (2,222) Cash 14,301 7,726 6,575 03 Total asset
Slide 23: Balance Sheet – Liabilities
Balance Sheet – Liabilities £ '000 2024 2023 +/- £k Payables 6,717 6,625 92 Deferred tax liabilities 1,198 2,517 (1,319) Corporation tax 618 504 114 Borrowings - 2,986 (2,986) Total creditors 8,533 12,632 (4,099) 02 Capital and reserves 72,327 67,117 5,210 Minority interest 885 1,100 (215) Total equ
Slide 24: Cash Flow
Cash Flow £ '000 2024 2023 +/- £k Net cash generated from 13,656 6,311 7,345 operating activities Net cash (used in)/generated by (2,662) (5,642) 2,980 investing activities Net cash used in financing (4,077) (3,646) (431) activities Net (decrease)/increase in cash 6,917 (2,977) 9,894 02 and cash equ
Slide 25: Disclaimer
Disclaimer The information contained in these slides and the accompanying oral presentation (together, the “Presentation”) has been prepared by EKF Diagnostics Holdings plc (the “Company”). The Presentation is subject to updating, completion, revision, and amendment without notice, and as such, it m
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