Optomed Oyj Class A · OMXHEX:OPTOMED
Optomed Oyj Class A — Q4 2020 Earnings Presentation
22 slides from Optomed Oyj Class A's earnings presentation, Feb 18, 2021
Slide 1: Result presentation: Q4/2020
18 February 2021, Seppo Kopsala, CEO / Lars Lindqvist, CFO Result presentation: Q4/2020
Slide 2: Highlights
Highlights
Slide 3: Highlights Q4-2020
Revenue declined 6.6%; Devices segment’s revenue 1. Gross margin and Gross profit 4. increased 13% versus Q3, increased driven by strong recovery in China and distributor sales Highlights Q4-2020 Software sales and Optomed Software segment continued its 2. branded products sales 5. solid performance
Slide 4: Focus areas
Focus areas China: • Positive overall market outlook • Deliveries to our major Chinese customer continued strong with a good pipeline • Optomed Aurora CFDA approval received USA: • Market entry proceeding as planned • Revenue continued to grow Other • Aurora IQ, the first fully integrated AI camera
Slide 5: COVID-19 Coronavirus
COVID-19 Coronavirus • COVID-19 Coronavirus pandemic continues; vaccinations started • What does it mean to Optomed: • Devices segment sales continue to be affected as the market standard sales model is face-to-face: adjusting to virtual sales efforts • OEM sales in decline: still a possibility for
Slide 6: Q4/2020 Financial highlights (KEUR)
Q4/2020 Financial highlights (KEUR) Q4/2020 Q4/2019 Change Revenue 4,041 4,329 -6.6% Gross profit 1) 2,809 2,745 2.3% Gross margin 2) 69.5% 63.4% 6.1 bps Adjusted EBITDA -62 -211 70.7% Adjusted EBITDA margin -1.5% -4.9% 3.4 bps Net profit/ loss -652 -58 -1016.5% Earnings per share -0.05 -0.01 -612.5
Slide 7: FY/2020 Financial highlights (KEUR)
FY/2020 Financial highlights (KEUR) FY/2020 FY/2019 Change Revenue 13,011 14,977 -13.1% Gross profit 1) 8,955 9,944 -9.9% Gross margin 2) 68.8% 66.4% 2.4 bps Adjusted EBITDA -733 -196 -273.9% Adjusted EBITDA margin -5.6% -1.3% -4.3 bps Net profit/ loss -3,177 -2,875 -10.5% Earnings per share -0.23 -
Slide 8: Devices segment highlights
Devices segment highlights
Slide 9: Devices segment highlights
Q4/2020 Q4/2019 Change Revenue increased 13% from Q3 1. despite the market still is affected Devices segment highlights by the pandemic Revenue 1,738 2,158 -19.5% Optomed branded product sales 2. performed well. Growth was Gross profit 990 1,113 -11.1% especially strong in China. OEM sales declined
Slide 10: Devices Segment FY/2020 financials
Devices Segment FY/2020 financials FY/2020 FY/2019 Change % Revenue 5,097 7,309 -30.3% Gross profit 2,862 4,200 -31.9% Gross margin 56.1% 57.5% -1.4 bps EBITDA -251 -408 38.5% EBITDA margin -4.9% -5.6% 0.7 bps
Slide 11: Software segment highlights
Software segment highlights
Slide 12: Software segment highlights
Q4/2020 Q4/2019 Change The Software segment continued 1. its solid performance - Revenue, Software segment highlights Gross profit and EBITDA increased Revenue 2,303 2,171 6.1% The travel restriction due to the 2. pandemic continue to slow down Gross profit 1,819 1,631 11.5% the global screening sol
Slide 13: Software Segment FY/2020 financials
Software Segment FY/2020 financials FY/2020 FY//2019 Change % Revenue 7,913 7,668 3.2% Gross profit 6,093 5,744 6.1% Gross margin 77.0% 74.9% 2.1 bps EBITDA 1,927 1,667 15.6% EBITDA margin 24.4% 21.7% 2.7 bps
Slide 14: Outlook 2021
Outlook 2021
Slide 15: Outlook 2021
Outlook 2021 Optomed expects its full year 2021 revenue to grow compared to 2020. (Announced 18 February 2021)
Slide 16: Financial targets
Financial targets Revenue Growth Adjusted EBITDA Optomed’s medium-term target is to deliver Optomed’s target is to prioritise a double-digit annual organic revenue investments in the organisation to growth. In the long-term Optomed’s target support growth in the medium-term and is to deliver an aver
Slide 17: Balance sheet
Balance sheet 31.12.2020 31.12.2019 Balance sheet ASSETS Goodwill 4,256 4,256 Development costs 5,667 5,218 • Equity ratio of 64.6 (57.1) percent Other intangible assets 2,831 3,188 Total intangible assets 12,753 12,662 • Total borrowings of EUR 6.5 (10.1) Total tangible assets 1,535 1,489 million.
Slide 18: Cash flow
Q4/2020 Q4/2019 Cash flow Loss for the financial year -652 -58 Cash flows before change 42 752 • Cash flow from operating activities in net working capital amounted to EUR 0.4 (-0.5) million Change in net working capital 529 1,302 Cash flows before finance items 571 2,054 • Strong cash position prov
Slide 19: Optomed's mission is to prevent blindness
“ Optomed’s mission Expansion into new geographical markets is to prevent blindness by improving access to eye screening globally Opening new customer segments: primary care Bringing AI-integrated health screening to the market
Slide 20: Appendix
Appendix OPT@MED
Slide 21: Cash flow FY/2020
Cash flow FY/2020 FY/2020 FY/2019 Loss for the financial year -3,177 -2,875 Cash flows before change in net working capital -377 207 Change in net working capital -1,990 268 Cash flows before finance items -2,367 475 Cash flows from finance items -434 -314 Net cash from operating activities -2,801 1
Slide 22: Optomed Plc. contact details
Optomed Plc. Yrttipellontie 1, 90230 Oulu, Finland Tel: +358 20 741 3380 • investors@optomed.com www.optomed.com