Sdi Limited · ASX:SDI
Sdi — H1 FY2025 Earnings Presentation
24 slides from Sdi's earnings presentation, Feb 27, 2025
Slide 1: 1H FY25 Results Presentation
1H FY25 RESULTS PRESENTATION 27 February 2025 Samantha Cheetham CEO John Slaviero CFO/COO
Slide 2: Agenda
AGENDA Performance Highlights 1H FY25 Financial Results Business Update Strategy and Outlook
Slide 3: 1H FY25 Performance Highlights
1H FY25 PERFORMANCE HIGHLIGHTS Improved operational efficiencies continue to drive strong margin growth FINANCIAL BUSINESS Revenue of $51.5m Increased efficiencies driving gross (- 1.3% pcp) margin 63.5% Gross Profit Margin (+200 New site capacity to drive future sales bps) EBITDA $8.6m Stela Progre
Slide 4: Sales by Business Unit
SALES BY BUSINESS UNIT Business unit performance reflects good European and Brazilian Growth SALES BY BUSINESS UNIT (AUD MILLIONS) BUSINESS UNIT % SALES $120 50% $107.9 $111.2 $110 8.8 $100 $95.2 9.1 40% 40% 40% 37% $90 7.3 $81.6 34% 35% 34% $80 5.4 36.9 41.3 31% 33% $67.4 34% 31% $70 33.3 30% 34% 3
Slide 5: Sales by Region
SALES BY REGION Strong demand for Aesthetic products in European Markets SALES BY REGION (AUD MILLIONS), % GROWTH PCP SALES BY REGION (AUD MILLIONS) $50 $45 Europe North America $40 $21.7m, +10.9% $10.6m, -7.5% $35 $30 Middle East & Africa $25 $4.3, -23.8% $20 $15 South America $5.5m, +2.1% APAC $10
Slide 6: Sales by Product Category
SALES BY PRODUCT CATEGORY Strong Aesthetics performance, continuing to gain market share SALES BY CATEGORY (AUD millions) CATEGORY AS % SALES $120 $107.9 $111.2 60% 52% $110 6.5 50% $95.1 6.5 50% 46% 45% 47% $100 45% $90 $81.6 6.8 31.0 31.3 $80 40% $67.3 6.0 29.8 32% 31% $70 29% 28% 29% 5.1 18.4 27%
Slide 7: Driving Higher Margins
DRIVING HIGHER MARGINS Gross Margin (%) 66% 64.8% 64% 63.5% • Favourable product and regional mix driving 62.2% 62.6% 62.1% margin improvement 62% 61.5% 61.1% 60.0% Logistics • Investment in machinery and automation Costs 60% driving efficiency gains 58% • Further efficiency gains expected moving in
Slide 8: Financial Performance
FINANCIAL 4 PERFORMANCE Q
Slide 9: Profit and Loss
PROFIT AND LOSS • Total sales of $51.5m (down 1.3% on 1H24) Profit & Loss ($'000) HY25 HY24 % Change Revenue • Good growth in European and Brazilian Sales Revenue 51,541 52,244 -1.3% markets, with declines in Middle Cost of goods sold -18,814 -20,141 6.6% Eastern and Asian markets Gross Profit 32,72
Slide 10: Balance Sheet
BALANCE SHEET o The Company has unused bank facilities of Balance Sheet ($'000) Dec 2024 Jun 2024 $9.0 million and $4.9 million cash in bank. Assets Cash & cash equivalents 4,871 6,275 o Focus on debtor collections. Trade & other receivables 16,258 21,045 Inventories 30,125 28,748 o Debt reduced by
Slide 11: Cash Flow
CASH FLOW • Cash flow impacted by: Profit & Loss ($'000) HY25 57,423 HY24 56,005 • Margin improvement Receipts from customers -46,999 -46,272 Payments to suppliers & employees Interest received 13 10 • Good Debtor management -793 -785 Interest & other finance costs paid -2,000 -1,083 • Debt Reductio
Slide 12: Business Update
BUSINESS UPDATE
Slide 13: Operational Update
OPERATIONAL UPDATE • Upgrade to Montrose warehouse (investment of circa $3.0m) and warehousing relocation complete • Stela & Riva Cem Auto Mix progressing well, receiving great feedback from industry opinion leaders • Stela has now reached over $1.3 million in sales Composite Syringe Machine • Conti
Slide 14: SDI – ESG Roadmap
SDI – ESG ROADMAP FY24 FY25 FY26-FY27 “Establishing” “Complying” “Enhancing” • Formalise the SDI ESG working • Review top suppliers on ESG • Review initiatives for emission group and its mandate. risks and incorporate into an reduction actions/strategies, updated Modern Slavery including how this re
Slide 15: Strategy & Outlook
STRATEGY & OUTLOOK
Slide 16: Project Montrose
PROJECT MONTROSE • New build expected to commence around August of 2025 • Montrose manufacturing upgrade: Project cost $56m with expected ROI (PBT/Rev) +20% underpinned by margin improvement • Land and building $39m (reduced from $45m) • Future extension to current warehouse $3m • New production mac
Slide 17: Project Montrose
PROJECT MONTROSE Aug / Sep Jan / Feb Nov 2024 – April 2025 – 2025 – 2027 – Final Design Tendering Commence Commence completed Works Stage Construction Relocation Dec 2024 – Jun 2025 – Nov / Dec Dec 2027 – Planning Expected 2026 – Relocation Permit Planning Construction / Completed Submitted Approval
Slide 18: Strategy & Outlook
STRATEGY & OUTLOOK o Aesthetics and Whitening products continue to be the focus for new product development • Stela exceeding expectations, on track to be one of our best product launches o Achieve manufacturing and logistic efficiencies through new site to help achieve sales of +$200m o Investment
Slide 19: Q&A
Q&A
Slide 20: Appendices
APPENDICES \y.® g d rs
Slide 21: Awards
AWARDS • Winner of the 2023 Australian Export Award for International Health • Winner of the 2024 Victorian Export Award for International Health (3rd year in a row)
Slide 22: Strategy
STRATEGY PRIORITY 1 High quality market leading products SDI will focus its sales, marketing and innovation efforts on its Riva, composites, cements and Pola brands. This targeted innovation will deliver incremental sales growth and act as a gateway to introduce clinicians to SDI’s full portfolio. P
Slide 23: Sales Analysis
SALES ANALYSIS Product Category ($m) FY20 FY21 FY22 FY23 FY24 1H FY25 Aesthetics 30.9 36.6 43.2 51.1 55.3 27.0 Whitening 18.1 26.5 29.8 31.3 31.0 15.2 Amalgam 13.2 12.5 15.3 19.0 18.4 6.4 Equipment 5.1 6.0 6.8 6.5 6.5 2.9 Region ($m) FY20 FY21 FY22 FY23 FY24 1H FY25 North America 14.6 20.4 22.1 25.6
Slide 24: Important Notice & Disclaimer
Important Notice & Disclaimer This Presentation contains summary information about SDI Limited (SDI) and its subsidiaries and their activities. The information in this Presentation does not purport to be complete. It should be read in conjunction with SDI’s other periodic and continuous disclosure a