Novacyt Sas · EURONEXT:ALNOV
Novacyt Sas — Novacyt — H1 2024 Earnings Presentation
20 slides from Novacyt Sas's earnings presentation, Sep 26, 2024
Slide 1: H1 2024 Investor Presentation
H1 2024 Investor Presentation 26 September 2024
Slide 2: Presenters
Presenters Lyn Rees, Chief Executive Officer Steve Gibson, Chief Financial Officer • CEO of Novacyt Group since 1 May 2024 • Joined Novacyt in 2017 • 6 years as CEO of Yourgene Health • Group Finance Director since February 2020, • Drove the acquisition of Elucigene Diagnostics CFO since January 202
Slide 3: What we do
What we do International molecular diagnostics company with a growing portfolio of clinical assays, instrumentation and research tools. With deep focus and expertise across reproductive health, precision medicine and infectious disease. Clinical IVD assays & Research qPCR kits Instruments for qPCR D
Slide 4: Novacyt Group: Established global footprint
Novacyt Group Established global footprint Locations: • UK - Manchester – Southampton – Stokesley • Miami, USA • Singapore • Canada • Commercial presence in over 65 countries Headquartered in Vélizy in France Listed on the: • London Stock Exchange's AIM market ("NCYT") • Paris Stock Exchange Euronex
Slide 5: Business Segments
Business Segments Clinical Instrumentation Research Use Only IVD products, workflows DNA size selection and and services rapid PCR Reproductive Health: Ranger® Technology High-performance qPCR assays • NIPT • Next generation size selection and workflows • Cystic Fibrosis for cell-free DNA • Human he
Slide 6: Integration update
Integration update Implemented actions that will deliver c.£5.0 million of annualised cost savings • Refocused Primer Design business on the RUO External / Other (£690 k) advisory costs market (£690 k) • Eliminated a number of duplicate corporate functions Reduction in • Integrated all key operation
Slide 7: H1 2024 Financial Results
H1 2024 Financial Results © Novacyt Group of companies
Slide 8: Financial Highlights
Financial Highlights Highlights: • Successfully resolved DHSC dispute • Revenue of £10.3m - strong growth in Reproductive Health (34%) and NIPT (5%) • Underlying gross profit increases to £6.7m • Underlying gross profit margin up to 65% from 50% • EBITDA loss flat YoY at £5.6m © Novacyt Group of com
Slide 9: Revenue by Segment
Revenue by Segment H1 2024 H1 2023 £7.8m N/A 76% £2.2m £2.8m H1 2024: 21% 83% £10.3m £0.3m £0.6m 3% 17% © Novacyt Group of companies
Slide 10: Revenue by Geography
Revenue by Geography H1 H1 2024 2023 United Kingdom £2.3m 22% 24% France £1.3m 13% 6% Rest of Europe £1.9m 18% 18% Asia-Pacific £2.7m 26% 22% America £1.5m 15% 24% Middle East & Africa £0.6m 6% 6% © Novacyt Group of companies
Slide 11: Income Statement
Income Statement H1 2024 H1 2023 £m £m Includes £20.0m DHSC related bad Revenue 10.3 3.3 debt write-off Gross profit 26.5 1.7 Underlying OPEX of £12.1m compared Gross profit % 257% 50% with a proforma H1 2023 cost of £14.7m Operating expenditure (32.1) (7.0) EBITDA (5.6) (5.4) EBITDA loss flat year-
Slide 12: Summary Balance Sheet
Summary Balance Sheet H1 2024 FY 2023 Strong balance sheet to support £m £m achieving profitability Non-current assets 44.4 47.4 Write-off of £24.0m DHSC December 2020 unpaid invoice Inventories 3.0 3.0 Includes £12.2m DHSC related VAT Trade and other receivables 19.0 39.4 receivable (received in Au
Slide 13: H1 2024 Cash Flow
H1 2024 Cash Flow * includes £2.4m of payments related to the DHSC commercial dispute. Excludes the £5.0m settlement payment made to the DHSC in July 2024 and the £12.2m DHSC related VAT reclaim received in August 2024. © Novacyt Group of companies
Slide 14: Operational Progress
Operational Progress © Novacyt Group of companies
Slide 15: Operational highlights
Operational highlights Corporate Strengthened Board • Settled dispute with the DHSC, and • John Brown, Chairman successfully reclaimed £12.2 million in • Lyn Rees, CEO VAT from HMRC relating to unpaid DHSC invoices • Steve Gibson, CFO • Completed disposal of Taiwanese • Dr Jo Mason, CSO laboratory b
Slide 16: Reproductive health, our core growth driver
Reproductive health, our core growth driver Comprehensive portfolio of screening and diagnostic products focused on reproductive health to support family planning Opportunities and growth Key Products drivers NIPT • Non-Invasive Prenatal Testing (NIPT) • Favourable national reimbursement policies Bl
Slide 17: Other Opportunities
Other Opportunities Ranger® Technology Precision Medicine RUO • Next generation size selection for DPYD screening • Catalogue of +1200 assays cell-free DNA • c.2m patients p/a treated with fluoropyrimidine chemotherapy • Delivered 500+ custom assays • Opportunities across multiple markets including:
Slide 18: Strategy and growth drivers
Strategy and growth drivers Current Progress Future milestones • Growth of NIPT with additional content such • First European sale of NIMBUS Select for synthetic biology as CNV analysis Drive global • Strong growth of CF portfolio in Australia • CF and DPYD with increased adoption of • New NIPT labo
Slide 19: Laying the foundations for future growth
Laying the foundations for future growth International molecular diagnostics company with deep focus and expertise across reproductive health, precision medicine and infectious disease Integration of Yourgene Health largely complete, enhanced the Group’s global diagnostics capabilities and added sca
Slide 20: investors@novacyt.com novacyt.com Novacyt Group (UK)
investors@novacyt.com novacyt.com Novacyt Group (UK) York House, School Lane, Chandlers Ford, Eastleigh, SO53 4DG, UK T +44 (0)2380 748 830