Tristel Plc · LSE:TSTL
Tristel — Q2 2025 Earnings Presentation
31 slides from Tristel's earnings presentation, Feb 24, 2025
Slide 1: Tristel PLC Investor Presentation: 31 December 2024 Interim Results
TRISTEL PLC - INVESTOR PRESENTATION 31 DECEMBER 2024 INTERIM RESULTS Matt Sassone, CEO Liz Dixon, CFO FEBRUARY 2025 tristelgroup.com 1
Slide 2: Our Company
Our Company We are an infection prevention company. The entire purpose of our business is to prevent the transmission of microbes from one object or person to another. We achieve our mission by applying a very powerful biocidal chemistry – chlorine dioxide – to the target environmental surface or me
Slide 3: Our Products
Our Products Decontamination of Hospital surface medical devices by hand disinfection: sporicidal efficacy & sustainability Ambition: “Global market leader in Ambition: “Global market leader in point of care decontamination of emerging niche - sporicidal surface medical devices” disinfectants” trist
Slide 4: Executing Upon the Opportunity
Executing Upon the Opportunity 87% 8% IV poles Mattresses % of H1 Obs & gynae % of H1 Trans-vaginal sales ENT sales Radiology Nasendoscopes 23% Trans-rectal Hospital wide High touch Skin-surface Trolleys A&E & Theatres points Intubation u/sound probes 40% laryngoscopes 5% Ophthalmology Cardiology To
Slide 5: Landscape & Market Opportunity
Landscape & Market Opportunity Medical Surface Medical Surface How we win: Disinfection How we win: Disinfection Convenience Compatibility Better Faster Disinfection at point Approved to be used Higher efficacy & Speed of action of procedure with ‘000s of devices sporicidal abilities Speed No risk A
Slide 6: CEO Impressions
CEO Impressions Exceptional company, talented people, and Surface disinfection market presents significant outstanding products. Operationally excellent. opportunity but requires careful navigation. Competitive pressures are increasing Near-term opportunity to drive global due to our success—continu
Slide 7: Financial Highlights
Financial Highlights Revenue up 8% to £22.6m (2023: £20.9m). 9% at constant currency. Adjusted* profit before tax up 19% Reported profit before tax up 9% to £4.9m (2023: £4.1m) to £3.7m (2023: £3.4m) Adjusted* EBITDA up 14% to £6.3m Reported EBITDA £5.0m (2023: £5.4m), a margin of 28% (2023: 26%) (2
Slide 8: Operational Highlights
Operational Highlights Successful CEO transition from September 24 US FDA 510(k) filing for Tristel OPH – additional information request on track Inclusion in the revised American National Standard for ULT technology Validation in the German market for wiping as a High-Level Disinfection (HLD) trist
Slide 9: Sales Growth by Geography
Sales Growth by Geography H1 on H1 £m Geography 2024-25 H1 2023-24 H1 % change change Direct Western Europe 3.2 3.0 0.2 7% Direct Central Europe 3.6 3.2 0.4 13% Direct Southern Europe 0.8 0.7 0.1 14% Direct Australasia 2.3 2.3 - - Direct China & Hong Kong 1.0 1.0 - - Direct Malaysia & Singapore 0.6
Slide 10: 10 Year Sales Growth Record
10 Year Sales Growth Record 45,000 40,000 35,000 Sources of £1.7m 30,000 year on year growth: Revenue £'000 25,000 • £1.3m volume 20,000 • £0.4m pricing 15,000 10,000 5,000 - 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 H1 H2 tristelgroup.com 10
Slide 11: Tristel - Value Creation
Tristel -Value Creation Geographical Expansion Product Application: • Gaining share in USA which • Value expansion with cleaning, remains our largest opportunity. digital traceability & new products. • Continue to invest in direct operations • Deepen adoption beyond (Spain, Austria, and India). core
Slide 12: Cache - Value Creation
Cache - Value Creation Market Landscape Strategic Growth Path to Value & Challenges Opportunities Creation Large Addressable Market: Expansion Beyond Core Focus on High-Impact, Significant unmet needs Business: Strengthening High-Margin Areas: present a compelling growth our position beyond traditio
Slide 13: Geographic Expansion
Geographic Expansion Europe North America Strengthening market Largest opportunity. Strategic presence and accelerating partnerships and targeted growth with direct operations. approach are accelerating Spain from January 2025. market penetration. See next slides. Japan Exploring opportunities in La
Slide 14: USA – Ultrasound Progress
USA – Ultrasound Progress Over 50,000 procedures performed in last six months. Circa 50m procedures estimated addressable market. Growing momentum, £37k in royalties from US ultrasound sales. Enhancing Guidelines & Publications: Tristel products now recognized as part of ANSI/AAMI ST58. Continued hi
Slide 15: USA – Customer Success Examples
USA– Customer Success Examples Boston-based Orlando-based Private practice teaching hospital health system clinics A Boston-based teaching hospital and the Implemented Tristel ULT and 3T in 13 Florida Strategically balancing our efforts by flagship of a 14-hospital health system has OB/GYN clinics,
Slide 16: USA – Ophthalmology
USA– Ophthalmology Circa 16m procedure addressable market. Health authorities, colleges and academies, are unequivocal: ophthalmic devices that touch the eye must undergo High-Level Disinfection (HLD) after every use. Tristel OPH addresses operational inefficiencies with current is complex and time-
Slide 17: USA - Ophthalmology: Go to Market
USA- Ophthalmology: Go to Market Mixed Sales Distribution Market Sales Operations Model Partnerships Focus Channels Combining direct Specialized Hospitals, ASCs, Direct sales team Distributors sales efforts with ophthalmology eye clinics, and engagement handle logistics regional distributors optomet
Slide 18: Summary & Outlook
Summary & Outlook Strong fundamentals - Profitable, cash generative, debt free, progressive dividend Significant growth opportunities in Medical Devices portfolio Refining commercial approach in Surface Disinfection to target the best ROI Unlocking new geographies for sustained, high-margin long ter
Slide 19: Questions
Questions tristelgroup.com 19
Slide 20: Appendix
Appendix tristelgroup.com 20
Slide 21: Tristel plc – Board of Directors
Tristel plc – Board of Directors Matt Sassone Bruno Holthof Elizabeth Dixon Chief Executive Independent Chief Financial Officer Non-Executive Officer Chair Isabel Napper Tom Jenkins Caroline Stephens Senior Independent Independent Independent Non-Executive Non-Executive Non-Executive Director Direct
Slide 22: Appendix – Income Statement
6 months ended 6 months ended APPENDIX – INCOME STATEMENT 31.12.24 31.12.23 £’000 £’000 Turnover 22,573 20,943 Cost of sales (4,099) (4,074) Gross profit 18,474 16,869 Gross margin % 82% 81% Administrative and distribution expenses (12,300) (11,625) Net interest 9 58 Operating profit before amortisa
Slide 23: Appendix – Balance Sheet
APPENDIX – BALANCE SHEET 31.12.24 31.12.23 Non-current assets £’000 £’000 Goodwill 4,861 4,662 Intangible assets 4,989 4,757 Property, plant and equipment 3,391 2,770 Right of use assets 5,596 5,599 Deferred tax 818 626 19,655 18,414 Current assets Inventories 4,613 4,450 Trade and other receivables
Slide 24: Appendix – Balance Sheet Continued
APPENDIX – BALANCE SHEET …Continued 31.12.24 31.12.23 Capital and reserves £’000 £’000 Share capital 477 475 Share premium account 15,296 14,530 Merger reserve 2,205 2,205 Foreign exchange reserve (1,010) (215) Retained earnings 14,491 14,127 Non-controlling interests - 7 Total equity 31,459 31,129
Slide 25: Appendix – Cash Flow Statement
6 months 6 months APPENDIX – CASH FLOW STATEMENT ended ended 31.12.24 31.12.23 £’000 £’000 Profit before tax 3,657 3,437 Add back non-cash items 1,605 1,997 Working capital movements (323) (222) Interest received 156 125 Purchase of PPE (374) (228) Purchase of intangible assets (775) (300) Payment o
Slide 26: ESG
ESG Our Vision Our Strategy Living Wage Employer At the core of our mission lies the We understand the importance of One of our successes includes pursuit of creating a better and embedding ESG into our business our application for Real Living more sustainable business, approach, which will enable u
Slide 27: ESG
ESG > Our ESG and Sustainability strategies are anchored in the senior leadership team Decision 1 Continued implementation of Decision 2 Further research into relevant Decision 3 Enhancement of the ESG Report the ESG strategy, including the ESG accreditations and within the Annual Report and setting
Slide 28: North America – Ultrasound Progress
North America – Ultrasound Progress Commercial partnership with Parker Parkers manufactures first batch Health Canada Tristel HLD methodology included in Laboratories developed for the of Tristel ULT. Product sampling with approves widely recognized standard by the manufacture and distribution of le
Slide 29: USA - Ultrasound Opportunity
USA- Ultrasound Opportunity Market Size Market Split Market Strategy (Ultrasound Scans requiring HLD) Approximately 270,000 ultrasound devices in North America 2. Soaking (25%) 1. Trophon Across 5,700 (50%) relevant hospitals 3. Wiping Manufacturing & with departments and/or Distribution partner rel
Slide 30: Target Ophthalmology Devices
Target Ophthalmology Devices • Health authorities, colleges and academies, are unequivocal: ophthalmic devices that touch the eye must undergo High-Level Disinfection (HLD) after every use. • Ophthalmic devices play a crucial role in eye care, particularly in the fields of ophthalmology and optometr
Slide 31: For hospital-based eye care & eye Institutes
For hospital-based eye care & eye Institutes: Tristel OPH simplifies HLD - Time study for John Hopkins Wilmer Eye Institute Following HLD & device IFU, the estimated time for each step is approximately as follows: - Pre-cleaning – 1 min - Safe transportation – 15 min - Cleaning, rinsing & drying – 1