Slide 1: Q3'13 Results Conference Call
Q3’13 RESULTS Conference Call
Slide 2: Disclaimer
DISCLAIMER These statements are related, among others, to the intent, belief or current expectations of the customer base, estimates regarding future growth in the different business lines and the global business, market share, financial results and other aspects of the activities and situation rela
Slide 3: Highlights
Highlights
Slide 4: Main Topics 1 of 2
MAIN TOPICS 1 of 2 FX EFFECT influencing negatively all the income statement both in Q3’13 and 9M’13 Q3’13 9M’13 US Australian Brazilian South African US Australian Brazilian South African Dollar Dollar Real Rand Dollar Dollar Real Rand euro +5.9% +20.2% +19.5% +28.0% +2.8% +8.9% +13.8% +21.3% GROUP
Slide 5: Main Topics 2 of 2
MAIN TOPICS 2 of 2 LIAISON/LIAISON XL: ongoing worldwide success, setting the basis for a positive effect on future revenues derived from reagents sales Net placements Q3’13 9M’13 Total as of Sept 30, 2013 LIAISON XL +124 +405 1,010 LIAISON +22 +61 4,196 TOTAL +146 +466 5,206 Positive NFP and strong
Slide 6: Q3'13 and 9M'13 Revenues
Q3’13 and 9M’13 REVENUES Q3’13 9m’13 FX effect negatively influencing Group sales, both in Q3’13 and in 9M’13, respectively for -€ 4.0 mln and vs. vs. -€ 6.5 mln Q3’12 9m’12 CLIA ex Vitamin D sales up at sustained pace throughout all geographies, leveraging on: · new products @ current -0.2% -0.4% ·
Slide 7: Revenues: Breakdown by Technology
REVENUES: BREAKDOWN BY TECHNOLOGY Q3’13 9M’13 vs. vs. Q3’12 9M’12 •Strong growth confirmed in Q3’13 and 9M’13 in all @ current +18.4% +14.7% geographies, with positive trend of all products CLIA ex Vit D throughout the different clinical areas •Success leveraging on menu completeness, launch @ CER +
Slide 8: Revenues: Breakdown by Geography (1 of 2)
REVENUES: BREAKDOWN BY GEOGRAPHY (1 of 2) Q3’13 vs. 9M’13 vs. Q3’13 vs. 9M’13 vs. Q3’12 9M’12 Q3’12 9M’12 • Strong and steady growth in Q3’13 and 9M’13 • Success of new products launched (particularly in Europe +5.1% +4.2% Germany +7.2% +11.2% the endocrinology area) • Strong growth of Vitamin D (Q3
Slide 9: Revenues: Breakdown by Geography (2 of 2)
REVENUES: BREAKDOWN BY GEOGRAPHY (2 of 2) Q3’13 vs. 9M’13 vs. Q3’13 vs. 9M’13 vs. Q3’12 9M’12 Q3’12 9M’12 Apac +18.4% +14.4% China +16.1% +14.7% • Successful growth of CLIA sales (+58% in Q3’13 and +43% in 9M’13) • Solidity of installed base enlargement, both LIAISON and LIAISON XL • LIAISON XL inst
Slide 10: Installed Base Expansion
INSTALLED BASE expansion Total units Net placements in Net placements in Total units at June 30, 2013 Q3’13 9M’13 at Sept 30, 2013 4,174 +22 +61 4,196 886 +124 +405 1,010 TOTAL 5,060 +146 +466 5,206 9
Slide 11: Profitability Profile
PROFITABILITY PROFILE Q3’12 Q3’13 9M’12 9M’13 Statutory 40.0% 37.1% -290bps 40.2% 37.8% -240bps EBITDA margin Excluding Molecular 41.9% 39.0% -290bps 41.6% 39.8% -180bps Business (*) EBITDA FX effect - 4 2.1 mln - 4 3.4mln Solid and strong Group marginality driven by reagents confirming steady and h
Slide 12: Net Income and Tax Rate
NET INCOME and TAX RATE Q3’12 Q3’13 9M’12 9M’13 € 33.8 € 30.8 -€ 3.0 € 106.9 € 97.5 -€ 9.4 EBT mln mln mln mln mln mln Tax Rate 36.7% 35.0% -170bps 37.4% 37.4% flat Net € 21.4 € 20.0 -€ 1.4 € 67.0 € 61.1 -€ 5.9 profit mln mln mln mln mln mln Net profit affected by: Lower tax rate in Q3’13 due to dif
Slide 13: Q3'13 and 9M'13 Financials
Q3’13 and 9M’13 FINANCIALS 12
Slide 14: Q3'13 Results: Income Statement
Q3’13 RESULTS: INCOME STATEMENT Q3 Change €/mln 2013 2012 amount % Net revenues 104.2 104.5 -0.3 -0.2% Gross profit 70.7 72.6 -1.9 -2.7% Gross margin 67.8% 69.5% -1.7% S&M (20.3) (20.2) -0.1 +0.5% R&D (5.5) (5.6) +0.1 -1.1% G&A (11.4) (11.2) -0.2 +1.8% Total operating expenses (37.2) (37.0) -0.2 +0.
Slide 15: 9M'13 Results: Income Statement
9M’13 RESULTS: INCOME STATEMENT 9M Change €/mln 2013 2012 amount % Net revenues 323.9 325.1 -1.2 -0.4% Gross profit 222.6 225.9 -3.3 -1.5% Gross margin 68.7% 69.5% -0.8% S&M (63.3) (60.8) -2.5 +4.1% R&D (17.7) (17.3) -0.4 +2.1% G&A (35.9) (35.5) -0.4 +1.1% Total operating expenses (117.0) (113.7) -3
Slide 16: Balance Sheet at September 30th, 2013
BALANCE SHEET at September 30 th , 2013 €/mln 09/30/2013 12/31/2012 Total intangible assets 121.5 125.3 Total tangible assets 65.2 65.3 Other non-current assets 22.9 22.4 Net Working Capital 135.5 137.6 Other non-current liabilities (33.6) (32.8) Net Capital Employed 311.4 317.8 Net Financial Positi
Slide 17: Q3'13 & 9M'13 Results: Cash Flow Statement
Q3’13 & 9M’13 RESULTS: CASH FLOW STATEMENT €/mln €/mln Q3 9M Change Change in value in value 2013 2012 2013 2012 Cash and cash equivalents at beginning Cash of period and cash equivalents 67.5at beginning 69.8 of period -2.3 104.6 64.1 +40.5 Operating activities Operating activities 36.7 30.1 +6.6 8
Slide 18: Business Development
Business development 17
Slide 19: 9M'13 Business Development: Immunodiagnostics
9M’13 BUSINESS DEVELOPMENT 5-year cooperation agreement with Roche worldwide Solution: connectivity of LIAISON XL® system Opportunity: Target: High Volume Cooperation agreement to cobas 8100® automated workflow series market evolution Laboratories, setting a solid requesting to fully opportunity to
Slide 20: 2013 Company Guidance
2013 COMPANY GUIDANCE 19
Slide 21: FY 2013 Guidance
FY 2013 GUIDANCE Revenues: growth between +2% and +4% at CER vs. FY’12 revenues; molecular revenues representing ~ € 5 million EBITDA: comparable at CER to the 2012 EBITDA; molecular business affecting negatively the FY’13 EBITDA for ~ € 6 million, due to the needed investments to develop and grow t