Novacyt SAS · EURONEXT:ALNOV
Novacyt SAS — Novacyt — FY2020 Earnings Presentation
17 slides from Novacyt SAS's earnings presentation, Jun 29, 2021
Slide 1: Full year 2020 results & strategy update
Full year 2020 results & strategy update 29 June 2021
Slide 2: Disclaimer
Disclaimer The document attached hereto and the presentation of which it forms part (together the “Materials”) have been prepared by Novacyt S.A. (“Novacyt” or the “Company”). The Materials are confidential and personal to you and are furnished to you as background information to provide a basis for
Slide 3: Novacyt: a high growth diagnostics business
Novacyt: a high growth diagnostics business Proven ability to rapidly develop and Novacyt is committed to developing the next generation of diagnostics to meet a new era of global commercialise market leading and healthcare challenges with best-in-class, first-to- proprietary technologies for diagno
Slide 4: COVID-19: A transformative period
COVID-19: A transformative period Through the rapid design, development and commercialisation of COVID-19 tests, Novacyt has transformed its financial position COVID-19 tailwind Major contract New products Margin On-going • Introduced one of the wins released improvement Investment world’s first CE
Slide 5: FY 2020 P&L
FY 2020 P&L Covid sales driving step-change in revenue and profit • Group consolidated revenue increased by over 20 times to £277.2m in 2020 compared with £11.5m in 2019 • Group gross margin continued to improve increasing to 76.3% in 2020 from 64.0% in 2019 • Group EBITDA increased to £176.1m in 20
Slide 6: FY 2020 balance sheet and cash
FY 2020 balance sheet and cash Group ended the year debt free with over £91m in cash £'000 2020 2019 2018 £'000 2020 2019 2018 Goodwill 17,877 13,592 14,548 Share capital and premium 54,675 50,169 49,180 Right of use assets 2,259 2,125 - Retained earnings 96,035 (37,707) (31,021) Deferred Tax assets
Slide 7: Post balance sheet event
Post balance sheet event Dispute with DHSC • Entered into a second supply contract with DHSC on 29 September 2020 • Announced in active discussions with DHSC to extend this contract on 29 January 2021 • Announced dispute with DHSC in relation to the second supply contract on 9 April 2021 • Dispute r
Slide 8: Primerdesign: 2020 highlights
Primerdesign: 2020 highlights • Sales increased to £272.8m, compared to £5.5m in 2019, driven by success of COVID-19 product portfolio • UK and Ireland NHS accounts represented £191.2m (70%) of total sales, reflecting the Company’s response and contribution to the UK government testing strategy • Co
Slide 9: IT-IS International
IT-IS International IT-IS International: acquisition in line with strategy • Reinforces strategy and strengthens position in long-term growth opportunity for rapid near-patient testing • Secures key IP for q16 and q32 rapid-PCR instruments • Expands core capabilities in instrument manufacturing • Ex
Slide 10: Lab21*: 2020 highlights
Lab21*: 2020 highlights • Sales decreased to £5.2m, compared to £6.0m in 2019 • Core business impacted by customers diverting their testing laboratories and procedures from routine clinical, veterinary and food testing to COVID-19 testing, to support the global pandemic efforts • Asia Pacific region
Slide 11: Strategy update
Strategy update Build on success in COVID-19 testing to expand test menus in areas adjacent to COVID-19, and into additional prioritised market segments, delivery systems and geographies Test Menu Expansion Instrument Expansion Geographic Expansion Underpinned by compelling IVD market dynamics • Est
Slide 12: Strategy update: Test Menu Expansion
Strategy update Test Menu Expansion • Built a reputation for rapid innovation and high performance of diagnostic technologies • One of the most comprehensive RUO PCR test menus in the world • Over 60 CE Mark approved PCR tests • COVID-19 testing • Post-COVID testing • Expand COVID-19 test menu for d
Slide 13: Strategy update: Instrument Expansion
Strategy update Instrument Expansion • Acquisition of IT-IS provides a strong mid-throughput near-patient PCR testing platform • q16 and q32 instruments are being deployed in multiple near-patient markets for COVID-19 testing • Expand placements of q16s and q32s and build out the specific test menu
Slide 14: Strategy update: Geographic Expansion
Strategy update Geographic Expansion • Invested heavily in the UK, with over 50 people employed across sales, marketing and field support specialists • Well positioned to support expansion of the UK diagnostics market • Look to replicate this direct sales model in its chosen international markets •
Slide 15: Current trading and outlook
Current trading and outlook Continued solid underlying sales driven by COVID-19 testing • Revenue of £88.4m for five months to 31 May 2021 • Sales run-rate was £10m per month in Q1 2021, excluding DHSC, dropping to approx. £7m per month in April and May • Strong growth expected in private testing, w
Slide 16: Summary
Summary • Rapid development of an extensive and innovative PCR COVID-19 product portfolio to address customer needs • Future of Novacyt secured • Repaid all long-term debt • Significantly strengthened the balance sheet • Delivered on a number of strategic objectives, including acquisition of IT-IS I
Slide 17: Thank you to all of our shareholders and employees
Thank you to all of our shareholders and employees for supporting the business through this transformative change Novacyt SA Graham Mullis, Chief Executive Officer James McCarthy, Chief Financial Officer +44 (0)1276 600081 InvestorMandy contact details Cowling, Corporate & IR Manager Numis +44 (0)20