Cleanspace Holdings Ltd. · ASX:CSX
Cleanspace — Investor Presentation (August 2021)
21 slides from Cleanspace's investor presentation, Aug 27, 2021
Slide 1: Full Year FY21 Results Presentation
FULL YEAR FY21 RESULTS PRESENTATION CLEANSPACE HOLDINGS LIMITED (ASX:CSX) CleanSpace designs and manufactures innovative respiratory protection solutions for healthcare & industrial employers globally We understand the importance of best-in-class personal protective equipment that not only performs,
Slide 2: Important Notice & Disclaimer
IMPORTANT NOTICE & DISCLAIMER ACCEPTANCE review. This presentation has been prepared by CleanSpace Holdings Limited (ACN 150 214 636) (CleanSpace). All currency figures in this presentation are in Australian dollars ($ or A$) unless stated otherwise. By accepting, accessing or reviewing this present
Slide 3: FY21 Business Highlights
FY21 BUSINESS HIGHLIGHTS The business extended its global footprint and sales capability to advance the growth strategy in Health and Industrial sectors. In the context of challenging purchasing environments, the business retains strong fundamentals with market factors emerging to support higher pro
Slide 4: Full Year FY21 Operational Update
FULL YEAR FY21 OPERATIONAL UPDATE 4 CleanSpace Holdings Limited | Full Year FY21 Results Presentation | August 2021
Slide 5: COVID-19 Update: Changing Operating Environment
COVID-19 UPDATE: CHANGING OPERATING ENVIRONMENT Emerging market dynamics are favourable to CleanSpace. The more infectious variant Delta, renewed outbreaks and breakthroughs in vaccinated workers are reinforcing the importance of high respiratory protection. Regulators have upgraded recommendations
Slide 6: Healthcare Business
HEALTHCARE BUSINESS Transformational year for our Healthcare sector. After global launch of CleanSpace Halo for clinical settings, demand drove fast tracked penetration in large competitive healthcare markets – North America and Asia ▪ Expanded market adoption from 20 hospitals to 850+ hospitals whe
Slide 7: Industrial Business
INDUSTRIAL BUSINESS Expecting improved performance as key regions (Europe and USA) re-open. Customers and government regulators pushing for sustainable solutions with trusted supply chains. While mask backlogs and lower business activity have impacted industrial sales, CleanSpace has continued to pu
Slide 8: Significant Growth in Installed Base
SIGNIFICANT GROWTH IN INSTALLED BASE Healthcare and industrial segment adoption continued with unit sales to existing and new customers, notwithstanding the challenges seen in 2H FY21. Regional sales mix largely reflect the changes in healthcare demand experienced from 1H to 2H FY21. REVENUE BY SECT
Slide 9: Operating Model Proven to Deliver at Scale
OPERATING MODEL PROVEN TO DELIVER AT SCALE Proven ability to scale the business to meet significant demand (seen in CY20), delivering operating leverage from a flexible cost base. Investment in upgraded business systems supporting future growth and scalability. ▪ Able to reduce overall cost base in
Slide 10: Sales and Distribution Capabilities
SALES AND DISTRIBUTION CAPABILITIES Continued to build out global sales function to overcome the current challenges and support scaled growth ▪ Pre-pandemic - a small targeted sales team achieving ~30% revenue growth driven by largely industrial markets in Europe and Australia ▪ Healthcare business
Slide 11: Trading Environment Over FY21
TRADING ENVIRONMENT OVER FY21 ▪ Business’s adaptability (sales and operating capabilities) in response ▪ A strong cash position; investment in sales capability, to fast changing trading conditions distribution partners, marketing efforts, stakeholder ▪ Full year results reflect the dynamic operating
Slide 12: Full Year FY21 Financial Update
FULL YEAR FY21 FINANCIAL UPDATE 12 CleanSpace Holdings Limited | Full Year FY21 Results Presentation | August 2021
Slide 13: Full Year FY21 Financial Highlights
FULL YEAR FY21 FINANCIAL HIGHLIGHTS Financial fundamentals remain strong, notwithstanding the challenging conditions in 2H FY21 1. High gross margin of 77% for FY21 2. Demonstrated ability to deliver over 30% EBITDA margins at scale 3. Operating leverage with a flexible cost base 4. Continued and me
Slide 14: FY21 Revenue with Selected Operating Metrics
FY21 REVENUE WITH SELECTED OPERATING METRICS REVENUE BY SEGMENT ▪ Full Year FY21 results reflect the changing REVENUE BY SEGMENT trading environment for both segments A$m 1H FY21 2H FY21 FY21 % 1H FY21 2H FY21 FY21 ▪ 1H strong sales driven by demand in healthcare and PPE shortages; 2H sales reflect
Slide 15: Income Statement Summary
INCOME STATEMENT SUMMARY GROSS MARGIN Change ▪ Margin increased from 74% in FY20 to 77% in 1H FY21 2H FY21 FY21 1H FY20 2H FY20 FY20 vs PCP FY21 driven by increase in healthcare sales (up Statutory Results % from 50% in FY20) as a proportion of total sales; Revenue 39.7 10.2 49.9 7.3 21.1 28.4 76% H
Slide 16: Income Statement Summary (Cont.)
INCOME STATEMENT SUMMARY (CONT.) Change ▪ Business has demonstrated its flexible H1 FY21 H2 FY21 FY21 H1 FY20 H2 FY20 FY20 vs PCP production cost base in response to the Statutory Results % dynamic changes in sales activity Revenue 39.7 10.2 49.9 7.3 21.1 28.4 76% ▪ Variable operating expenses inclu
Slide 17: Balance Sheet
BALANCE SHEET ▪ Strong balance sheet - cash of $38.2m – % reflecting net raise from the IPO of $19.1m Summary Balance Sheet (A$m) FY21 FY20 Change and free cash flow of $17.1m Cash, cash equivalents and term deposits 38.2 10.3 271% ▪ Trade receivables lower following lower Trade and other receivable
Slide 18: Summary Group Cash Flow
SUMMARY GROUP CASH FLOW The Group’s cash balance at 30 June 2021 was Summary Cash Flows (A$m) FY21 FY20 $38.2 million (2020: $10.3 million). Cash flows from operating activities Key components and drivers of cash flows Receipts from customers 55.2 24.3 were: Payments to suppliers and employees (36.6
Slide 19: FY22 Outlook
FY22 OUTLOOK 19 CleanSpace Holdings Limited | Full Year FY21 Results Presentation | August 2021
Slide 20: FY22 Outlook
FY22 OUTLOOK It is expected that the world will be living with the implications of COVID-19 for a prolonged period. The spread of the more infectious variant Delta around the world has resulted in renewed outbreaks along with reported breakthroughs amongst vaccinated workers. This has increased focu
Slide 21: www.cleanspacetechnology.com
WWW.CLEANSPACETECHNOLOGY.COM 21 CleanSpace Holdings Limited | Full Year FY21 Results Presentation | August 2021
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