Biomerieux Sa · EURONEXT:BIM
Biomerieux Sa — H1 2023 Earnings Presentation
21 slides from Biomerieux Sa's earnings presentation, September 2023
Slide 1: H1 2023 Results & Outlook
H1 2023 RESULTS & OUTLOOK September 2023 PIONEERING DIAGNOSTICS 2023 2022 fullH1 results year resultspresentation presentation / B I O M É R I E U X
Slide 2: Disclaimer
Disclaimer This presentation contains information, assumptions and estimates that were used by the Company to determine its objectives on a reasonable basis. They are subject to change or modification due to economic, financial, medical and competitive uncertainties in markets addressed by bioMérieu
Slide 3: Agenda
1. H1 2023 Business Highlights Pierre BOULUD 2. H1 2023 Financial performance Guillaume BOUHOURS 3. CSR & 2023 Outlook Pierre BOULUD
Slide 4: H1 2023 Business highlights
Pierre BOULUD, CEO H1 2023 Business highlights 2023 2022 fullH1 results year resultspresentation presentation / B I O M É R I E U X
Slide 5: Key Financial Highlights
KEY FINANCIAL HIGHLIGHTS SALES CONTRIBUTIVE LEVERAGE EBIT +8.3%* Net Debt / EBITDA (+11%* excl. RP) 16,5% of sales ▪ Remarkable performance of microbiology & industrial applications, both volumes and prices ▪ Success of BIOFIRE non respiratory panels, strengthening long term leadership in syndromic
Slide 6: BIOFIRE: Continued Expansion Driven by Non-RP
BIOFIRE: CONTINUED EXPANSION DRIVEN BY NON-RP H1 2023 ▪ H1 Sales: 633M€, +8% Non-RP +27% ▪ Undisputed leader ~ >70% market share globally ▪ Non-RP panels: RP ~0% • double digit growth in all regions BIOFIRE • balanced growth across the panels F I L M A R R AY ▪ RP panel sales: stable in a post COVID
Slide 7: SPOTFIRE: Entering the Point-of-Care Market
SPOTFIRE: ENTERING THE POINT-OF-CARE MARKET ▪ Live in the US, first shipments since June 8th ▪ 100 installed instruments in the market as of June YTD ▪ Approved in Japan since August BIOFIRE SPOTFIRE BIOFIRE® SPOTFIRE® Respiratory (R) Panel Mini VALUE PROPOSAL Tests for the 5 most probable viruses t
Slide 8: Microbiology: Strong Performance Driven by AMR/AMS Focus and Innovation
MICROBIOLOGY: STRONG PERFORMANCE DRIVEN BY OUR FOCUS ON AMR / AMS* AND PRODUCT INNOVATION ▪ H1 Sales: 609M€, +15% ▪ Comprehensive solution to fight the antimicrobial resistance “silent pandemic” VITEK MS PRIME ▪ Continued investment in AMR/AMS* awareness ▪ Significant acceleration of blood culture e
Slide 9: Immunoassays: On Par with Guidance
IMMUNOASSAYS: ON PAR WITH GUIDANCE ▪ H1 Sales: 187M€, -2% ▪ Routine parameters back to growth VIDAS KUBE ▪ PCT: continuing volume & price erosion in the US and China ▪ Secure growth in developing settings • New VIDAS KUBE now available in 16 countries • Large menu: 100+ tests ▪ Innovative biomarkers
Slide 10: Industrial Applications: Growth Driven by Both Segments
INDUSTRIAL APPLICATIONS: GROWTH DRIVEN BY BOTH SEGMENTS ▪ H1 Sales: 286M€, +9% ▪ Solid inflation pass through to customers ▪ Strong Pharma Quality Control growth supported notably by Cell & Gene Therapy segment (Blood Culture, Environment Monitoring ranges) and Blood Banks (major deployment project
Slide 11: H1 2023 Financial performance
Guillaume BOUHOURS, CFO H1 2023 Financial performance 2023 2022 fullH1 results year resultspresentation presentation / B I O M É R I E U X
Slide 12: H1 2023 Sales by Range
H1 2023 SALES BY RANGE A robust performance vs high COVID 2022 MICROBIOLOGY +15% MOLECULAR +7% ▪ Very strong performance led by ▪ Remarkable double-digit growth automated ID/AST , Blood Culture for non-respiratory panels & Lab efficiency ▪ Resilient respiratory panels sales ▪ Volumes and prices incr
Slide 13: H1 2023 Sales by Geography
H1 2023 SALES BY GEOGRAPHY AMERICAS +6% EMEA +8% ASPAC +15% 50% of sales 32% of sales 18% of sales Europe China back to double-digit growth vs North America lockdowns last year Robust growth in non-respiratory Double-digit growth in Microbiology, across key ranges Steady growth in India molecular &
Slide 14: HY 2023 P&L
HY 2023 P&L HY % HY % % % In €m sales sales Change Change LFL(1) 2023 2022 Net sales 1,770 1,658 + 6.8% + 8.3% Gross profit 999 56.4% 938 56.6% + 6.5% + 9.1% SG&A -502 - 28.4% -440 -26.6% + 14.0% + 14.9% R&D -227 - 12.8% -207 -12.5% + 9.3% + 5.4% Contributive Operating Income(2) 291 16.5% 322 19.4%
Slide 15: HY 2023 P&L: Contributive Operating Income to EPS
HY 2023 P&L: contributive operating income to EPS HY % HY % % change In €m sales sales 2023 2022 as reported CEBIT 291 16.5% 322 19.4% - 9.5% Amortization of acquired intangible - 84 - 25 assets & related expenses Operating income 208 11.7% 297 17.9% -30.0% Net financial expense + 0.5 -6 Income tax
Slide 16: HY 2023 Cash Flow Statement
HY 2023 Cash Flow Statement Increase in working capital requirement driven by: in €m June 2023 June 2022 • Inventory - €115 m in preparation for winter season and the build up for the launch of new products EBITDA (1) 394 414 • Receivables: + €64 m strong cash collection in the US Working capital re
Slide 17: Exposure & Sensitivity to Foreign Currencies
Exposure & sensitivity to foreign currencies FX exposure Estimated impact of +/- 5% FX on revenues variation vs EUR on contributive (2022 basis) operating income (1) Others KRW € 8m 21% USD & related(2) 46% +/- € 9m € 2m 4% CAD € 1m 2% Chinese Yuan 7% +/- € 8m CNY € 8m Japanese Yen 3% +/- € 3m JPY €
Slide 18: CSR & 2023 Outlook
CSR & 2023 outlook 2023 2022 fullH1 results year resultspresentation presentation / B I O M É R I E U X
Slide 19: CSR Roadmap – On Track as of June 2023
CSR ROADMAP – On track as of June 2023 HEALTHCARE EXTENDED HEALTH PLANET EMPLOYEES ECOSYSTEM COMPANY Collaboration projects Lost Day Incident Rate ≥1% +30% -50% with patient associations of net income Group share patient results1 GHG absolute emissions ÷2 to 0.6 in 2025 dedicated to Philanthropy sup
Slide 20: 2023 Outlook Confirmed
2023 Outlook confirmed GUIDANCE TRENDS ▪ Excluding Resp.: Non-RP >+15%, Microbio >+8%, Immuno ~0%, Industry >+8% Assuming a medium flu season at the end of 2023 ▪ RP slow down : SALES vs strong one in Q4 2022 Organic, Excluding Respiratory ▪ Overall growth: +4% to +6%, organic ▪ Sales growth and pri
Slide 21: Pioneering Diagnostics
BIOMERIEUX PIONEERING DIAGNOSTICS