Slide 1: EKF Diagnostics Holdings plc
EKF Diagnostics Holdings plc Julian Baines, Chief Executive Officer Richard Evans, COO & Group Finance Director 21st March 2017
Slide 2: Disclaimer
Disclaimer This presentation is the sole responsibility of the directors of EKF Diagnostics plc (the “Company”). N+1 Singer Advisory LLP (“N+1 Singer”), which is authorised and regulated by the Financial Conduct Authority, is acting as the nominated adviser and broker to the Company. This presentati
Slide 3: Agenda
Agenda Slide no. 4. 2016 Highlights 6. 2016 Financial Performance 7. Business Unit performance 12. Geographic performance 13. 2017 Outlook 15. Appendices 3
Slide 4: 2016 Highlights
2016 Highlights 2012 2013 2014 2015 2016 • Revenues up 29% to £38.6m (2015 £30.0m) • Hemo Control and H2 sales up £3.1m 38.6 • b-HB sales up £2.7m 37.1 • Quo-Test A1c sales up £1.2m • Sold c. 13,650 analysers and c. 69m tests 31.8 • No major new tenders won during 2016 30 • AEBITDA £6.1m (2015 (£0.3
Slide 5: EKF Diagnostics Holdings plc FTEs
EKF Diagnostics Holdings plc 17 FTEs All PoC 4 FTEs All PoC 160 FTEs All PoC 94 FTEs 52 Central Lab 42 PoC 25 FTEs 24 PoC Dec 2016 Aug 2015 1 Central Lab Manufacturing 162 198 Sales 59 77 Administration 54 84 R&D 18 35 Marketing 6 6 299 400 4
Slide 6: FY 2016 financial performance
FY 2016 financial performance Cash generated from • Gross profit up 25% to £18.3m (2015: £14.7m) operations 10 • AEBITDA £6.1m (2015: (£3m)) Millions • Cash and cash equivalents: £7.9m (2015: £2.0m) 8 • Cash generated from operations: £8.8m (2015: (£2.9m)) 6 4 2 0 -2 -4 2011 2012 2013 2014 2015 2016
Slide 7: Business Unit performance
Business Unit performance FY 2016 £’000 FY 2015 £’000 +/- % £’000 Hematology 11,704 7,371 4,333 Diabetes Care 10,203 6, 463 3,740 Maternal Health 2,880 2,455 425 Central Laboratory 12,051 8,701 3,350 Other 1,751 5,055 (3,076) 38,589 30,045 7
Slide 8: Point-of-Care: Hematology
Point-of-Care Hematology • Revenues up £4,333k (59%) • Transition of HemoPoint H2 sales in USA from Alere to EKF USA 1st June Hematology range DiaSpect Tm • HemoPoint H2 up 101% YoY Hematastat II • DiaSpect Tm/CompoLab up 53% YoY Hemo Control • Hemo Control up 46% YoY HemoPoint H2 STAT-Site Hgb FY 2
Slide 9: Point-of-Care: Diabetes
Point-of-Care Diabetes • Revenues up £3,740k (58%) YoY • Biosen up 79% Diabetes range • Quo-Test A1c up 62% Biosen C-Line • STAT-Site M B-HB up 143% Biosen S-Line Quo-Lab A1c Quo-Test A1c 2016 £k 2015 £k +/- £k +/- % STAT-Site M b-HB Diabetes analysers 10,203 6,463 3,740 58% and tests 9
Slide 10: Point-of-Care: Maternal & Women's Health
Point-of-Care Maternal & Women’s Health • Revenues up £425k (+17%) YoY • Lactate Scout+ up 31% Maternal & • Pregnancy tests up 10% Women’s Health range FY 2016 £k FY 2015 £k +/- £k +/- % Creamatocrit Lactate Scout+ Analysers, sensors 2,880 2,455 425 17% Pregnancy tests and tests SensPoint 10
Slide 11: Central Laboratory
Central Laboratory Clinical chemistry and enzymes • Central Laboratory sales +£3,350k (+39%): Central • b-HB Liquicolor reagent up 76% Laboratory range • Life Sciences (enzymes) sales up 26% Clinical chemistry • Clinical chemistry up 19% including sales of Altair 240 analysers Fermentation and • b-H
Slide 12: Geographical divisional split
Geographical divisional split FY 2016 £’000 FY 2015 £’000 +/- % £’000 APAC 3,954 3,029 925 EMEA 13,566 11,256 2,310 EKF LS 2,489 2,144 345 LATAM 3,712 3,111 601 USCAN 14,793 10,478 4,315 Misc. 75 27 12
Slide 13: 2017 Outlook
2017 Outlook • Build on the success of the streamlined Group and lower cost base • Achieve further manufacturing savings based on limited CapEx spend • Achieve sales growth from current key markets and customers: – USA: Grow the HemoPoint H2 business in doctor’s offices and B-HB in hospitals – Middl
Slide 14: Thank you
Thank you Diagnostics | — <r | for life
Slide 15: Financial report
Appendix 1 Financial report =—<r- | Diagnostics | — a for life
Slide 16: Consolidated income statement
Consolidated income statement Total 2016 Total 2015 +/- £’000 £’000 £’000 Revenue 38,589 30,045 8,544 Gross profit 18,322 14,669 3,878 GP % 47.5% 48.8% (1.3%) Administrative expenses (18,734) (29,156) 10,422 Other income 85 139 (54) AEBITDA 6,139 (348) 6,487 Share based payments (973) (226) (747) Ex
Slide 17: Balance Sheet / Cash Flow
Balance Sheet / Cash Flow 2016 2015 +/- £’000 £’000 £’000 Intangible assets 46,503 42,927 3,576 Inventories 6,025 8,234 (2,209) Trade / other receivables 9,435 7,242 2,193 Cash and cash equivalents 7,874 2,017 5,857 Deferred considerations 693 485 208 Trade / other payables 9,466 8,331 1,135 Borrowi
Slide 18: Balance Sheet: Assets
Balance Sheet: Assets FY 2016 FY 2015 +/- Selected items £’000 £’000 £’000 Non-current assets Property, plant, equipment 12,124 10,680 1,444 Intangible assets 46,503 42,927 3,576 Investments 152 402 (250) Deferred tax assets 371 340 31 Total non-current assets 59,150 54,349 4,801 Current assets Inve
Slide 19: Balance sheet: Equity & Liabilities
Balance sheet: Equity & Liabilities FY 2016 FY 2015 +/- Selected items £’000 £’000 £’000 Equity attributable Total equity 60,450 46,754 13,696 Non-current liabilities Borrowings 1,130 1,167 (37) Deferred tax liabilities 3,751 3,559 192 Total non-current liabilities 4,881 4,726 155 Current liabilitie
Slide 20: Cash Flow
Cash Flow FY 2016 FY 2015 +/- £’000 £’000 £’000 Cash and cash equivalents at beginning of 2,017 8,346 period Cash from (used in) operating activities 8,943 (4,285) 13,228 Cash used in investing activities (1,426) (5,315) 3,889 Cash used in financing activities (2,113) 3,269 (5,382) Net increase / (d
Slide 21: Product performance
Appendix 2 Product performance
Slide 22: Units sold
Lactate Scout+ Units sold 11% 2012-2016 SSM BHB 1% Hemo Control 27,736 Quo-Lab Hemo Control/H2 DiaSpect T/Tm 10,875 41% 9% Lactate Scout+ 7,429 Quo-Test 4% Quo-Lab A1c 6,322 Biosen C/S-Line 4% STAT-Site M Hgb 5,475 Hematastat II 3% Biosen C-Line / S-Line 2,789 SSM Hgb 8% Quo-Test A1c 2,475 DiaSpect
Slide 23: Tests sold
Tests sold 2016 2015 Biosen 18,848,200 19,948,600 Hemo Control / HemoPoint H2 18,797,400 12,919,700 DiaSpect T / Tm / CompoLab 17,817,250 13,612,900 Hematastat II 6,075,000 10,377,000 UltraCrit 3,444,050 2,370,750 Quo-Lab A1c 1,183,650 971,500 Quo-Test A1c 1,175,925 876,480 Lactate Scout+ 943,344 75
Slide 24: Ends
Ends =—<r- | Diagnostics | — a for life