Slide 1: FY 2016 Results
FY 2016 Results DIASORIN SPA March 8, 2017
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: Agenda
4 Highlights FY 2016 Main Topics Revenues • Breakdown by Technology • Breakdown by Geography Installed Base Expansion Profitability Profile 14 Business and Product Development 16 FY 2017 Company Guidance 18 Annex 3
Slide 4: Highlights
Highlights
Slide 5: FY’16 main topics
FY’16 main topics FY’16 FY’16 @ Dec 31, 2016 LIAISON & LIAISON XL PLACEMENTS REVENUES €/mln 569.3 LIAISON XL +571 2,863 +14.0% LFL* @ CER +6.4% LIAISON -45 3,999 CLIA ex Vit D 25 OH +11.3% LFL * @ CER +13.1% TOTAL +526 6,862 -2.8% Vit D 25 OH LFL * @ CER -2.6% Focus +€/mln 44.4 Business Development
Slide 6: Q4’16 and FY’16 Revenues
Q4’16 and FY’16 Revenues Q4’16 FY’16 vs. vs. Q4’15 FY’15 Growth driven by all CLIA tests, net of Vitamin D 25 OH, with particular evidence on: • Infectious Diseases @ current +19.3% +14.0% • Hepatitis • Torch • Gastro-Intestinal Testing Revenues • Vitamin D 1,25 Focus revenues contributing with 44.4
Slide 7: FY’16 Revenues: contribution by technology
FY’16 Revenues: contribution by technology FY’15 FY’16 LIKE-FOR-LIKE* Instruments, consumables & others: Instruments, consumables & others: 11.7% 12.1% Molecular tests: Molecular tests: 0.6% 0.6% RIA & ELISA tests: CLIA tests: RIA & ELISA tests: CLIA tests: 13.3% 74.4% 11.9% 75.4% FY’16 WITH FOCUS R
Slide 8: Q4’16 and FY’16 Revenues: breakdown by technology
Q4’16 and FY’16 Revenues: breakdown by technology Q4’16 FY’16 vs. vs. Q4’15 FY’15 @ current +10.6% +11.3% CLIA ex Vitamin D 25 OH tests LFL* @ CER +11.5% +13.1% CLIA @ current -2.7% -2.8% Vitamin D 25 OH test (CLIA) LFL* @ CER -4.0% -2.6% @ current -5.6% -5.9% ELISA + RIA tests LFL* @ CER -8.3% -5.5
Slide 9: FY’16 Revenues: breakdown by geography
FY’16 Revenues*: breakdown by geography Europe & Africa North America 246.0 €/mln 46.9% of sales +5.1% 129.4 €/mln 24.6% of sales +1.1% Germany France +6.1% +5.2% USA +1.2% Italy -4.1% China +31.4% Asia Pacific Mexico +23.6% 107.5 €/mln 20.5% of sales +13.3% Brazil Latin America +6.2% 42.0 €/mln 8.0
Slide 10: FY’16 Revenues: breakdown by geography
FY’16 Revenues: breakdown by geography FY’15 FY’16 LIKE-FOR-LIKE* North America: North America: Europe and Africa: 25.6% Europe and Africa: 24.6% 47.1% 46.9% Asia Pacific: Asia Pacific: 19.5% 20.5% Central and South America: Central and South America: 7.8% 8.0% FY’16 WITH FOCUS REVENUES ALLOCATION N
Slide 11: Q4’16 and FY’16 Revenues: breakdown by geography
Q4’16 and FY’16 Revenues*: breakdown by geography Q4’16 FY’16 Q4’16 FY’16 vs. vs. vs. vs. Q4’15 FY’15 Q4’15 FY’15 EUROPE & AFRICA +5.4% +5.1% ASIA PACIFIC +6.3% +13.3% Germany +5.8% +6.1% China +17.8% +31.4% Growth mainly driven by Gastro-Intestinal testing, Infectious Diseases, Prenatal diseases an
Slide 12: Installed base expansion
Installed base expansion Total units at Net placements Total units at December 31, 2015 in 2016 December 31, 2016 4,044 -45 3,999 2,292 +571 2,863 TOTAL 6,336 +526 6,862 FY 2016 Results Presentation 12
Slide 13: Q4’16 and FY’16 EBITDA
Q4’16 and FY’16 EBITDA* Q4’15 Q4’16 FY’15 FY’16 EBITDA (€/mln) 48.6 59.0 +21.4% 185.0 217.3 +17.5% EBITDA 37.1% 37.8% +70 bps 37.1% 38.2% +110 bps margin Raise in marginality compared to Q4’16 and FY’16, mainly driven by: • Higher sales of specialty products (e.g. Vitamin D 1,25 and Gastro-Intestina
Slide 14: Business and Product Development
Business and Product Development
Slide 15: Business & Product development
Business & Product development BUSINESS DEVELOPMENT Focus Diagnostics Acquisition Beckman Coulter Agreement in the US Vit D 25 OH launch in Japan Award of contract by BARDA for Zika Acquisition of Focus Diagnostics’ immunodiagnostic Distribution partnership agreement for the Start of sales of CLIA 2
Slide 16: FY 2017 Company Guidance
FY 2017 Company Guidance
Slide 17: FY 2017 Company Guidance
FY 2017 Company Guidance FY 2017 Company Guidance, including Focus business: Revenues Growth equal to around +11% at CER compared with 2016 (*) EBITDA Growth equal to around +11% at CER compared with 2016 (*) (*) 2016 Eur/US$ exchange rate = 1.11 FY 2016 Results Presentation 17
Slide 18: Annex
Annex
Slide 19: FY’16 results: Income Statement
FY’16 results: Income Statement Change Data in € million 2015 2016 amount % Net revenues 499.2 569.3 +70.1 +14.0% Gross profit 341.9 389.2 +47.3 +13.8% Gross Margin 68.5% 68.4% -10 bps S&M (98.0) (109.5) -11.4 +11.6% R&D (26.2) (37.7) -11.6 +44.2% G&A (55.5) (60.0) -4.5 +8.2% Total operating expense
Slide 20: FY’16 results: Balance Sheet
FY’16 results: Balance Sheet Data in € million 12/31/2015 12/31/2016 Change Goodwill and intangibles assets 117.9 357.1 +239.2 Property, plant and equipment 74.5 92.1 +17.6 Other non-current assets 21.2 24.0 +2.8 Net working capital 144.0 165.0 +21.0 Other non-current liabilities (38.3) (46.1) -7.7
Slide 21: FY’16 results: Cash Flow Statement
FY’16 results: Cash Flow Statement Data in € million 2015 2016 Change Cash and cash equivalents at the beginning of the period 144.9 212.2 +67.3 Operating activities 138.4 165.6 +27.1 Investing activities (30.5) (34.9) -4.4 Financing activities (8.2) (5.9) +2.3 Acquisitions of companies and business
Slide 22: Slide 22