Slide 1: Preliminary Results Presentation – 2011
Preliminary Results Presentation – 2011 March 2012 Martyn Ratcliffe Chairman Brent Hudson CEO Neil Elton Finance Director
Slide 2: Sagentia Group plc – Technology & Product Development Company
Sagentia Group plc Technology & Product Development Company • Outsourced R&D • Predominantly time-and-materials consultancy (2010 predominantly fixed price projects) • Sectors : • Medical (Diagnostics, Surgical, Patient Care) • Commercial (Consumer & Industrial) • Based in Harston, near Cambridge •
Slide 3: Financial Summary
Financial Summary Continued Revenue Growth • Revenue of £23.6m (2010: £20.8m) : 13.2% growth • Enhanced by one-off product revenue (£0.8m) • H2 affected by macro-economic deterioration, seasonality and increased discounting • R&D Consultancy revenues of £19.9m (2010: £17.8m) : 11.5% growth • Transit
Slide 4: Financial Performance - Annual
Financial Performance - Annual 25 5.0 4.0 20 3.0 2.0 Discontinued Revenue £m Profit/Loss £m 15 1.0 Revenue 0.0 Operating Profit/Loss 10 -1.0 PBT -2.0 5 -3.0 -4.0 2009 includes revenue from disposed/discontinued activities (approx £6.4m) 0 -5.0 2009 2010 2011 4 © Sagentia 2010
Slide 5: Financial Performance – Half Year
Financial Performance – Half Year 15 3.0 2.0 Discontinued 10 1.0 Revenue £m Profit/Loss £m Revenue Operating 0.0 Profit/Loss PBT 5 -1.0 -2.0 2009 includes revenue from disposed/discontinued activities 0 -3.0 (approx £6.4m) H1-09 H2-09 H1-10 H2-10 H1-11 H2-11 5 © Sagentia 2010
Slide 6: Revenue Breakdown
Revenue Breakdown Total Revenue R&D Consultancy Revenue 5% R&D Consultancy 5% Fees 6% Medical Recharged Project 32% Expenses Commercial 7% Property Income IT Support 68% 77% Product & Licence Segment Definitions Core Business : R&D Consultancy Fees, Recharged Project Expenses, Product & Licence inco
Slide 7: Segmental Analysis
Segmental Analysis Business Sectors • Medical sector was strong in 2011, accounting for 68% of R&D Consultancy revenue • 2010 : 61% of R&D Consultancy revenue derived from Medical sector • Sagentia building reputation for successful medical device developments • Commercial sector experienced weaknes
Slide 8: Balance Sheet (extracted information)
Balance Sheet (extracted information) 31 Dec 2009 31 Dec 2010 31 Dec 2011 £m £m £m Cash 4.2 16.4 21.2 Borrowings •Bank (6.5) (7.8) (7.0) •Other borrowings (0.4) (0.1) (0.1) Equity Investments 1.4 1.0 0.0 Freehold Property 14.0 13.9 13.8 • Last valuation: August 2010 Shareholders Funds 12.7 22.7 26.4
Slide 9: Proposed Tender Offer
Proposed Tender Offer Subject to shareholder approval at AGM (and Takeover Panel Rule 9 waiver) Up to £8.0 million (10.0 million shares) • Cash balance at 31 December 2011 : £21.2 million (Net funds : £14.1 million) Tender price : 80 pence per share • 100% increase on Placing price in May 2010 • Pla
Slide 10: Corporate Matters
Corporate Matters Closure of Hong Kong site • Work previously undertaken in Hong Kong migrated to Harston All minority investments (to which Board attributed value) realised • Disposal for cash of Sphere Medical, Sensortec and Atranova shareholdings • Charge to income statement of £0.08m Legacy corp
Slide 11: Summary
Summary Turnaround in 2010. Performance sustained in 2011 • H2 impacted by business seasonality, increased discounting and economic environment Good progress on strategic initiatives • Vast majority of projects now on Time-and-Materials invoicing • Key and strategic account management Strong operati
Slide 12: Contact details
www.sagentia.com info@sagentia.com ja Ltd Harston Mill Harston Cambridge CB22 7G UK T, +44 1223 875200 Inc One Broadway 14th Floor Cambridge MA 02142 USA T. +1 617 401 3170 www.sagentia.com info@sagentia.com Sagentia is listed on the London Stock Exchange (SAG.L) SAGENTIA