Bactiguard Holding Ab · OMXSTO:BACTI_B
Bactiguard Holding Ab — Q1 2019 Earnings Presentation
20 slides from Bactiguard Holding Ab's earnings presentation, May 9, 2019
Slide 1: Bactiguard Infection Protection Q1 presentation
Bactiguard Infection Protection Q1 presentation 9 May 2019
Slide 2: Financial highlights
Financial highlights A stable beginning of the year • Q1 revenues of MSEK 35.1 (33.0) - 7% higher than in 2018 • BIP sales of MSEK 3.1 (7.3) – no deliveries to China and India this quarter • License revenues of MSEK 28.0 (22.0) – whereof MSEK 1.1 from agreement with Well Lead for China • EBITDA of M
Slide 3: HAIs leading cause of death in Sweden
HAIs leading cause of death in Sweden New report from the Swedish National Board of Health and Welfare (Socialstyrelsen) • 12,000 adverse events in healthcare have been analyzed to find out which ones cause the most serious consequences for patients • Healthcare associated infections (HAI) are at th
Slide 4: CDC: Outbreak of resistant superbug
CDC: Outbreak of resistant superbug United States, April 2019 Source: https://www.cdc.gov/fungal/candida-auris/tracking-c-auris.html 4
Slide 5: The Bactiguard technology
The Bactiguard technology The galvanic effect – effective and safe • When in contact with fluids the noble metals create Gold Au a galvanic effect Silver Ag • The different electro potentials of the metals create Palladium Pd a micro current • Prevents microbial adhesion (gram positive/negative bact
Slide 6: Market update
Market update Europe • Major Swedish Foley and CVC tenders won in 2018 • New partnership for Nordic and Benelux countries • Upscaling activities in Germany • Smaller markets contribute to recurring sales MEA China • 2018 an interim year • Partnership with Well Lead moving ahead at high pace • Growth
Slide 7: Minister Hallengren highlights Bactiguard
Minister Hallengren highlights Bactiguard India • “Sweden India Year of Health 2019” – full year celebration of tenth anniversary of the MoU in health and medical care. • In February, Times of India published an interview with the Swedish minister of Social Affairs, Lena Hallengren, who led a high l
Slide 8: Licensing business
Licensing business BD (C.R. Bard) • Successful partnership since 1995 • Bactiguard coated Foley catheters for the US, Japan and UK/Ireland • Generating stable annual revenues Vigilenz Medical Devices • Bactiguard coated orthopaedic trauma implants for the ASEAN markets • CE mark awarded in December
Slide 9: Potential new applications for licensing or BIP portfolio
Potential new applications for licensing or BIP portfolio Global sales MUSD Orthopedic implants 22 700 Trauma implants 5 600 Coronary stents 5 400 Dental implants 4 500 BIP portfolio Foley CVC ETT 1 800 (800+600+400) s Intermittent Urinary 1 500 PIVC 1 400 1 100 Vascular Grafts Ureteral stents 300 H
Slide 10: Production and supply chain
Production and supply chain From 1 million to 10 million units SWEDEN Production of BIP ETT, CVC & BG concentrate CHINA Suppliers USA • Well Lead: ETTs and Production of BG coated Foleys Silicone Foleys License partner for entire • Biosensors: CVCs BIP portfolio • Haiyan Kangyuan: Silicone Foleys MA
Slide 11: Bactiguard Executive Management
Bactiguard Executive Management Christian Kinch Cecilia Edström CEO CFO Jonas Östregård Daniel Lund Senior Vice President Senior Vice President Sales & Marketing Operations 11
Slide 12: Business model
Business model Two lines of business License agreements for various applications with Bactiguard technology – generating up-front fees and royalties Proprietary product portfolio – sold through distributors 12
Slide 13: Financial highlights
Financial highlights Highlights First quarter (January-March 2019) • Revenues of MSEK 35.1 (33.0), a 7% increase • License revenue from BD higher than last year – MSEK 26.9 (22.0) • New license revenues of MSEK 1.1 from agreement with Well Lead for China • BIP sales of MSEK 3.1 (7.3) - recurring sal
Slide 14: Development in revenues from BIP products
Development in revenues from BIP products Supplied products • Revenues from BIP-products of MSEK 3.1 (7.3) in Q1 • No deliveries to China and India in Q1 2019 • Recurring sales to existing distributors in Middle East, Europe and Latin America • BIP sales steadily rising • CAGR 15% 14
Slide 15: Revenue distribution
Revenue distribution Income distribution 15
Slide 16: Cash flow and liquidity
Cash flow and liquidity Cash flow first quarter (January - March) • Operating cash flow of MSEK -9.1 (-13.7). Payment of MSEK -11.5 related to one-off compensation for early termination of agreement with former distributor in China in 2018 affected cash flow in Q1 • Net Cash position of MSEK 3.6 (6.
Slide 17: Financial targets
Financial targets • Average sales growth of 20% per annum for a 5-year period, with 2015 as the base year – starting point MSEK 118.5 • EBITDA margin of at least 30% at the end of the 5-year period (by 2020) • Equity ratio of at least 30% • Over time uphold a dividend policy of 30-50% of net profit,
Slide 18: Concluding remarks
Concluding remarks Solid platform for growth • Revenues growing, driven by higher license revenues in the quarter and steadily increasing BIP sales in a longer perspective • Good traction in China • MEA, Europe and Latin America generated growth in the quarter • Significantly higher EBITDA result an
Slide 19: Our vision
OUR VISION Eliminate healthcare associated infections to 1. save lives 2. reduce cost and 3. limit antimicrobial resistance, through preventive standards of care. 19
Slide 20: Bactiguard representatives
Bactiguard representatives Christian Kinch, CEO Switchboard +46 8 440 58 80 christian.kinch@bactiguard.se @ChristianKinch Cecilia Edström, CFO Cell phone +46 72 226 23 28 cecilia.edstrom@bactiguard.se @EdstromCecilia 20