Enovis Corporation · NYSE:ENOV

Enovis — Q1 2024 Earnings Presentation

16 slides from Enovis's earnings presentation, May 2, 2024

  1. Slide 1: First Quarter 2024 Results

    First Quarter 2024 Results May 2, 2024

  2. Slide 2: Forward-looking Statements Non-GAAP Financial Information

    Forward-looking Statements Non-GAAP Financial Information This presentation includes forward-looking statements, including forward-looking statements within Enovis has provided in this presentation financial information that has not been prepared in accordance with the meaning of the U.S. Private Se

  3. Slide 3: Q1 2024 Highlights

    Q1 2024 Highlights • +27% reported growth, +5% pro forma • +7% pro forma growth in Recon • +3% organic growth in P&R • Lima integration off to a great start • Integration plans on track across both commercial and cost initiatives • Global recon sales meeting in March formally kicked off cross-sellin

  4. Slide 4: Q1 Reconstructive Segment Sales Performance

    Q1 Reconstructive Segment Sales Performance Reconstructive Q1 Sales • Combined performance tracking above plan • +7% pro forma recon growth Growth: +66% Y/Y, +7% pro forma • 2-3% negative growth impact from integration • US pro forma growth of 4% • US channel integration in process, expect to be lar

  5. Slide 5: Q1 Prevention & Recovery Segment Sales Performance

    Q1 Prevention & Recovery Segment Sales Performance P&R Q1 Sales • Organic growth of 3% Growth: +3% Y/Y, Organic sales +3% • Global Bracing growth of LSD • Stable market environment • Adjusted EBITDA margin +50bps Y/Y • Continue to leverage EGX to drive positive mix and Recovery Sciences operating le

  6. Slide 6: P&L Performance

    P&L Performance • +27% sales growth as reported millions Q1 2023 Q1 2024 • Adjusted gross margin expansion of +70bps driven Net Sales $406 $516 by product mix and EGX business system Adj. Gross Profit $235 $303 Margin 58.0% 58.7% • Continued investments in R&D spend to support key innovation project

  7. Slide 7: Full Year 2024 Outlook

    Full Year 2024 Outlook February May Comments • Global markets grow in line with historical Revenue $2.05-$2.15B $2.06-$2.16B averages • 5-6% pro forma growth aEBITDA $365-$380mm $368-$383mm • ~HSD pro forma recon growth – weighted to 2H/24 • P&R stable in L/MSD Depreciation $115-$120mm $115-$120mm •

  8. Slide 8: Summary

    Summary • Excited about the strong start of 2024, underlying growth fundamentals to accelerate in 2H • Lima integration milestones on track, exciting momentum building globally • Raising 2024 Guidance based on solid Q1 performance © 2024 Enovis Corporation 8

  9. Slide 9: Appendix

    Appendix enovis. Creating Better Together” 4

  10. Slide 10: QTD Pro forma Sales

    QTD Pro forma Sales © 2024 Enovis Corporation

  11. Slide 11: QTD Adjusted EPS Reconciliation

    QTD Adjusted EPS Reconciliation © 2024 Enovis Corporation

  12. Slide 12: QTD Adjusted EBITDA Reconciliation

    QTD Adjusted EBITDA Reconciliation © 2024 Enovis Corporation

  13. Slide 13: QTD Adjusted Gross Margin Reconciliation

    QTD Adjusted Gross Margin Reconciliation © 2024 Enovis Corporation

  14. Slide 14: Q1'24 GAAP to Adjusted Non-GAAP Financial Measures

    Q1’24 GAAP to Adjusted Non-GAAP Financial Measures Dollars in millions (Unaudited) Acquisition- Enovis Related Non- Restructuring Continuing Cash & Other Other Income Tax Operations Adjustments a Adjustments b Adjustments c Adjustmentd Adjusted Net sales $ 516.3 $ - $ - $ - $ - $ 516.3 Cost of goods

  15. Slide 15: Q1'23 GAAP to Adjusted Non-GAAP Financial Measures

    Q1’23 GAAP to Adjusted Non-GAAP Financial Measures Dollars in millions (Unaudited) Acquisition- Enovis Related Non- Restructuring Continuing Cash & Other Other Income Tax Operations Adjustments a Adjustments b Adjustments c Adjustmentd Adjusted Net sales $ 406.2 $ - $ - $ - $ - $ 406.2 Cost of goods

  16. Slide 16: enovis. Creating Better Together

    enovis. Creating Better Together”

Enovis — Q1 2024 Earnings Presentation on 6ix