Slide 1: BONESUPPORT Q1 (2024) Report
BONESUPPORT Q1 (2024) Report April 25, 2024 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: BONESUPPORT – First quarter report 2024
BONESUPPORT – First quarter report 2024 Q1 2024: • Net sales SEK 184 m, growth: +54% versus Q1 2023, (+54% in constant exchange rates, CER) • Operating result (before accounting effects of incentive programs): SEK 42 m (SEK 5 m) • Reported EBIT: SEK 32 m (SEK 1 m) • Strong market penetration rate co
Slide 4: The strong growth journey continues
The strong growth journey continues LTM Quarterly Sales per Segment 700 700 656 650 650 600 591 600 • Strong progression in both geographic segments 550 550 522 500 500 • Total antibiotic eluting CERAMENT 450 448 450 grew with 103% versus Q1 2023 Net Sales, SEK m Net Sales, SEK m 400 382 400 • Only
Slide 5: Quarterly sales have tripled over the last 8 quarters
Quarterly sales have tripled over the last 8 quarters Total sales (in constant currency) SEK m 200 184 180 165 160 149 140 131 120 110 100 91 80 76 68 60 Sales (in CER) has increased with 3x over 8 quarters 61 40 20 00 Q1-22 Q2-22 Q3-22 Q4-22 Q1-23 Q2-23 Q3-23 Q4-23 Q1-24
Slide 6: North America: Enabling FDA approvals and continued strong market penetration
North America Enabling FDA approvals and continued strong market penetration Q1 2024 • Sales of SEK 141 m, growth of 65% over Q1 2023 (growth of 65% in constant exchange rate, CER) • Sales in Q1 2024 represented a reported sequential growth of 7% over Q4 2023 Highlight: • CERAMENT G sales of SEK 93
Slide 7: Spinal fusion – Future market segment for CERAMENT
Spinal fusion – Future market segment for CERAMENT The main reason for fusion surgery of the spine is to stabilize the spinal column and reduce pain caused by certain spinal conditions. Fusion surgery involves joining two or more vertebrae together to create a solid bony bridge, with the purpose to
Slide 8: Open Trauma approval for CERAMENT G in US
Open Trauma approval for CERAMENT G in US CERAMENT G for open trauma 12 months Deep infection Broad and wide approval; all extremities, all open trauma incidence Non-union (except GA IIIC). Only two cautions: 16% 35% 14.5% • Volume should not exceed 10 ml 14% 30% 28.6% • Use in OF GA IIIC, is not su
Slide 9: Etiology US bone graft market - 2022
Etiology US bone graft market - 2022 Etiology for total US bone graft market 384 k procedures Infection incidence 20% 17% Closed fractures <3% • In the US, approx. 144 k bone graft procedures per Open fractures year are conducted on patients with open trauma. 132 5% 3 - 52% k procedures on (GAI-IIIB
Slide 10: EUROW: Market share gains fuels sales performance
EUROW Market share gains fuels sales performance Q1 2024 • Sales of SEK 43 m, growth of 27% vs Q1 2023. (growth of 24% in constant exchange rates, CER) • Strong market dynamics – continued catch up of surgical back-log • Strong sales development reflecting market share gains Highlights • High activi
Slide 11: BONESUPPORT Q1 (2024) Report – Financial Report
BONESUPPORT Q1 (2024) Report Financial Report
Slide 12: Q1 2024 net sales SEK 184.4 m
Q1 2024 net sales SEK 184.4 m SEK m • NA: 65 percent reported growth, 65 percent growth in CER • EUROW: 27 percent reported growth, 24 percent growth CER • Low impact from currency movements 12
Slide 13: Gross Margin
North America +65% EUROW +27% (+65% CER) (+24% CER) Net sales Net sales Q1-24 Q1-24 North America 2024 2023 EUROW 2024 2023 SEK m Q1-24 Q4-23 Q3-23 Q2-23 Q1-23 SEK m Q1-24 Q4-23 Q3-23 Q2-23 Q1-23 Net Sales 141,5 131,6 121,0 103,9 85,9 Net Sales 43,0 41,1 37,2 36,5 33,8 Gross profit 134,8 125,1 114,4
Slide 14: Q1 expenses confirming scalability in business model
Q1 expenses confirming scalability in business model Key Figures 2024 2023 2022 SEK m Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Selling expenses 59,7 59,6 53,5 55,0 49,0 46,8 38,8 37,4 Sales Commissions and fees 48,2 44,4 42,7 37,2 29,9 28,1 21,1 16,8 Research and Development expenses 14,1 17,6 12,5 14,6 12,5 14,8 12
Slide 15: A SEK 37 m underlying profit improvement
A SEK 37 m underlying profit improvement Key Figures 2024 2023 2022 SEK m Q1 Q4 Q3 Q2 Q1 Q4 Q3 Q2 Net Sales 184,4 172,7 158,2 140,4 119,7 103,2 84,6 74,6 Gross Margin (%) 92,6 91,8 92,1 91,3 90,5 91,5 90,8 89,0 Operating Profit 32,3 -7,7 14,9 6,0 0,8 -19,3 -13,9 -14,9 Adj. Operating profit (i) 41,6
Slide 16: BONESUPPORT Q1 (2024) Report
BONESUPPORT Q1 (2024) Report • 54% sales growth • SEK 42 m EBIT (before incentive cost) • Continued success for CERAMENT G USA • Extended labels 16