Slide 1: Q3 and 9M 2017 Results
Q3 and 9M 2017 Results DIASORIN SPA November 9, 2017
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: Q3 and 9M'17 Main Topics
4 Highlights Q3 and 9M’17 Main Topics Revenues • Breakdown by Technology • Breakdown by Geography Installed Base Expansion Profitability Profile 14 FY 2017 Company Guidance 16 Annex 3
Slide 4: Highlights
Highlights
Slide 5: Q3 and 9M'17 main topics
Q3 and 9M’17 main topics Q3’17 9M’17 Q3’17 9M’17 @ Sept 30, 2017 LIAISON & LIAISON XL PLACEMENTS REVENUES €/mln 149.4 €/mln 468.6 (*) LIAISON XL +149 +519 3,382 +1.6% +13.4% @ CER +4.3% @ CER +13.3% LIAISON -41 -76 3,923 CLIA ex Vit D 25 OH +10.8% +11.8% @ CER +12.7% @ CER +11.9% TOTAL +108 +443 7,3
Slide 6: Revenues
Revenues Q3’17 9M’17 (*) vs. vs. Q3’16 9M’16 Growth driven by • all CLIA tests, net of Vitamin D 25 OH, with particular evidence on: • Infectious Diseases • Hepatitis @ current +1.6% +13.4% • Endocrinology • Gastro-Intestinal Testing • Vitamin D 1,25 Revenues • molecular tests (*) and partially offs
Slide 7: 9M'17 Revenues: contribution by technology
9M’17 Revenues (*): contribution by technology 9M’16 9M’17 Instruments, consumables & others: Instruments, consumables & others: 11.4% 11.5% Molecular tests: Molecular tests: 4.3% 8.9% ELISA tests: CLIA tests: ELISA tests: CLIA tests: 13.4% 70.9% 12.2% 67.4% (*) Revenues include the contribution of
Slide 8: Revenues: breakdown by technology
Revenues: breakdown by technology Q3’17 9M’17 (*) vs. vs. Q3’16 9M’16 @ current +10.8% +11.8% CLIA ex Vitamin D 25 OH tests @ CER +12.7% +11.9% CLIA @ current -9.4% -0.9% Vitamin D 25 OH test (CLIA) @ CER -5.8% -1.3% @ current -10.9% +2.1% ELISA tests @ CER -8.4% +1.7% @ current +0.9% Molecular Diag
Slide 9: Revenues: 9M breakdown by geography
Revenues (*): 9M breakdown by geography Europe & Africa North America 200.0 €/mln 42.7% of sales +9.2% 149.2 €/mln 31.8% of sales +24.5% Germany France +8.1% +5.5% USA +24.8% Italy +6.8% China +19.9% Asia Pacific Mexico +3.9% 84.9 €/mln 18.1% of sales +8.2% Brazil Latin America +17.7% 34.5 €/mln 7.4
Slide 10: Revenues: breakdown by geography
Revenues (*): breakdown by geography 9M’16 9M’17 North America: North America: Europe and Africa: 29.0% Europe and Africa: 31.8% 44.4% 42.7% Asia Pacific: Asia Pacific: 19.2% 18.1% Central and South America: Central and South America: 7.4% 7.4% (*) Revenues include the contribution of DiaSorin Molec
Slide 11: Revenues: breakdown by geography
Revenues: breakdown by geography Q3’17 9M’17 (*) Q3’17 9M’17 (*) vs. vs. vs. vs. Q3’16 9M’16 Q3’16 9M’16 EUROPE & AFRICA +7.2% +9.2% ASIA PACIFIC +1.2% +8.2% Germany +6.7% +8.1% China +19.6% +19.9% Growth mainly driven by all CLIA tests, ex Vit D 25 OH Growth of CLIA tests driven by Hepatitis, Infec
Slide 12: Installed base expansion
Installed base expansion Units at Net placements Units at % on total December 31, 2016 in 9M 2017 September 30, 2017 3,999 -76 3,923 54% 2,863 +519 3,382 46% TOTAL 6,862 +443 7,305 100% Q3 and 9M 2017 Results Presentation 12
Slide 13: Profitability Profile
Profitability Profile Q3’16 Q3’17 9M’16 9M’17 EBITDA (€/mln) 56.1 56.0 -0.2% (*) 158.4 182.2 +15.0% (**) EBITDA 38.1% 37.5% -66 bps 38.3% 38.9% +55 bps margin 9M’17 EBITDA upward compared to 9M’16. Q3’17 results affected by one-off costs, for an amount of ca. 2 €/mln, related to: • implementation of
Slide 14: FY 2017 Company Guidance
FY 2017 Company Guidance
Slide 15: FY 2017 Company Guidance
FY 2017 Company Guidance FY 2017 Company Guidance : Revenues Growth equal to around +11% at CER compared with 2016 (*) EBITDA Growth equal to around +13% at CER compared with 2016 (*) Guidance does not include: • the positive contribution from the recently acquired Siemens’ ELISA business • one-off
Slide 16: Annex
Annex
Slide 17: Q3'17 results: Income Statement
Q3’17 results: Income Statement Q3 Change Data in € million 2016 2017 am ount % Net revenues 147.0 149.4 +2.3 +1.6% Gros s profit 99.1 100.5 +1.4 +1.4% Gross Margin 67.4% 67.3% -12 bps S&M (28.0) (29.7) -1.8 +6.4% R&D (10.2) (10.7) -0.5 +4.9% G&A (14.9) (15.0) -0.1 +0.6% Total operating expens es (5
Slide 18: 9M'17 results: Income Statement
9M’17 results: Income Statement 9M Change Data in € million 2016 2017 am ount % Net revenues 413.3 468.6 +55.4 +13.4% Gros s profit 282.4 319.7 +37.3 +13.2% Gross Margin 68.3% 68.2% -12 bps S&M (79.4) (89.8) -10.5 +13.2% R&D (26.9) (32.3) -5.4 +20.0% G&A (43.1) (47.9) -4.9 +11.3% Total operating exp
Slide 19: 9M'17 results: Balance Sheet
9M’17 results: Balance Sheet Data in € million 12/31/2016 9/30/2017 Change Goodwill and intangibles assets 357.1 357.9 +0.8 Property, plant and equipment 92.1 93.8 +1.7 Other non-current assets 24.0 23.6 -0.4 Net working capital 165.0 165.6 +0.6 Other non-current liabilities (46.1) (54.7) -8.7 Net I
Slide 20: Q3'17 results: Cash Flow Statement
Q3’17 results: Cash Flow Statement Q3 Data in € million Change 2016 2017 Cash and cash equivalents at the beginning of the period 73.2 107.9 +34.7 Cash provided by operating activities 49.5 48.9 -0.6 Cash used in investing activities (6.7) (13.0) -6.3 Cash provided/(used) in financing activities (5.
Slide 21: 9M'17 results: Cash Flow Statement
9M’17 results: Cash Flow Statement 9M Data in € million Change 2016 2017 Cash and cash equivalents at the beginning of the period 212.2 130.5 -81.7 Cash provided by operating activities 117.6 125.9 +8.3 Cash used in investing activities (21.1) (30.1) -9.0 Cash provided/(used) in financing activities
Slide 22: Slide 22