Medmix Ag · SIX:MEDX
Medmix — FY2022 Earnings Presentation
24 slides from Medmix's earnings presentation, Feb 22, 2023
Slide 1: medmix CONFIDENTIAL
medmix CONFIDENTIAL
Slide 2: Annual Results 2022
Annual Results 2022 Girts Cimermans CEO, Jennifer Dean CFO February 22, 2023 medmix CONFIDENTIAL
Slide 3: Safe harbor statement under the US private securities litigation reform act 1995
The safe harbor statement under the US private securities litigation reform act 1995 This presentation may contain forward-looking statements, including but not limited to, projections of financial developments, market activities or future performance of products and solutions, containing risks and
Slide 4: Business Review
Business Review medmix CONFIDENTIAL
Slide 5: 2022 highlights
2022 highlights • Strong performance with backdrop of volatile geopolitical and market conditions - Record revenue of CHF 477 million, +5.7%1 YoY - 22% Adjusted EBITDA margin - CHF 10 million free cash flow • Launch of innovative PiccoJect™, Micro Bristle Applicator and greenLine™ cartridge • New US
Slide 6: medmix in 2022
medmix in 2022 Global footprint 14 ~2,100 production, logistics and distribution employees sites 22% ~2.4bn CHF 477m revenue adj. EBITDA margin Products per year ~900 active patents 6 medmix CONFIDENTIAL
Slide 7: 2022 Revenue by Segments
2022 Revenue by Segments Healthcare Consumer and Industrial ("C&I") Drug Dental Surgery Industry Beauty Delivery 125.1 + 5.8% 47.0 + 21.4% 12.8 + 1.3% 148.2 - 8.2% 144.1 + 18.6% Strong performance Higher demand from Growth in tissue bank Continued demand from Volume driven increase with especially i
Slide 8: Healthcare
Healthcare Growth across all Healthcare Segments Key figures Revenue split Surgery In CHF millions 2022 2021 YoY1 7% Revenue 184.9 169.8 9.2% (2021: 8%) Business Area Gross Profit 112.7 103.2 9.5m Business Area Gross Profit margin % 61.0% 60.8% +0.2pts Drug Delivery 25% Dental Highlights (2021: 24%)
Slide 9: Consumer & Industrial
Consumer & Industrial Growth in Beauty and resilience in Industry Key figures Revenue split In CHF millions 2022 2021 YoY1 Revenue 292.3 287.5 +3.6% Business Area Gross Profit 105.3 117.1 -11.8m Business Area Gross Profit margin % 36.0% 40.7% -4.7pts Industry Highlights 51% Beauty 2022 (2021: 56%) 4
Slide 10: Sustainability Review
Sustainability Review medmix CONFIDENTIAL
Slide 11: Sustainability at medmix in 2022
Sustainability at medmix in 2022 medmix Group • Completed the first CDP Climate Change assessment, achieving an “Awareness” rating - equaling the industry average - 3 years ahead of target • Committed to the UN Global Compact, supporting and acting to achieve the Sustainable Development Goals • Comm
Slide 12: medmix Operations
medmix Operations medmix CONFIDENTIAL
Slide 13: medmix Operations
medmix Operations Footprint milestones in 2022 C&I - Valencia, Spain Healthcare – near Atlanta, USA Head office - Baar, Switzerland • 147,500 square feet • 300,000 square feet • Opened in April 2022 • Initial CHF 20 million investment • Initial CHF 20 million investment • Supports hybrid work, acces
Slide 14: Financial Review
Financial Review medmix CONFIDENTIAL
Slide 15: 2022 Results
2022 Results Growth and resilience CHF millions Key figures Highlights 2022 2021 YOY adj.1 • Revenue growth above top end of adjusted guidance Revenue 477.1 457.3 4.3% 5.7% Correcting for Poland YoY growth +11.8% Business Area Gross Profit 218.0 220.4 -2.4m • BA Gross Profit Margin % -250 bps YoY dr
Slide 16: Adjusted EBITDA
Adjusted EBITDA * Non Ops -5.6 Industry production ramp-up (COGS) +0.3 Other COGS mvmt YoY -24.4 Poland deconsol incl. write-downs (OPEX) CHF millions - 1.4 Other OPEX mvmt YoY (M&A, spin-off) - 31.1 YoY Mvmt in non-ops (added to EBITDA) 2021 Volume Margin OPEX OPEX Non-OPS 2022 Actuals & Price & Mi
Slide 17: Adjusted EBITDA to Net Income
Adjusted EBITDA to Net Income CHF millions Adj. Depn. Amort. Non ops. Non ops.* EBIT Fin. expense Income tax Net EBITDA impact Restruct. Income of Poland Impair. % of revenue 22.1% 2.4% *Non ops. includes M&A, spin off and other costs 17 medmix CONFIDENTIAL
Slide 18: Net Income to Free Cash Flow
Net Income to Free Cash Flow CHF millions Net Income Depn. Amort. & Working Interest & Cash Flow Net Capital Free Cash Impairments * Capital & Tax from Expenditure Flow % of revenue Other net Operating ** current activities 8.0% * Impairments CHF 1.5m assets ** Net of sale of PPE CHF 1.3m 18 medmix
Slide 19: Net debt
Net debt Net Debt Highlights CHF millions • Net debt increased from year end by CHF 46m to CHF 157m, Dec 2020 Dec 2021 Dec 2022 reflecting higher capital investments and working capital • Strong balance sheet supporting investment grade leverage 286 111 157 Net debt / 4.3x 1.0x 1.5x adj EBITDA 19 me
Slide 20: Outlook
Outlook medmix CONFIDENTIAL
Slide 21: Outlook
Outlook FY2023 • Revenue: 5 – 7% organic growth as demand continues to normalize • Adjusted EBITDA margin: 100bps YoY to 23% through • return to full capacity and an improving cost base in C&I • an improved revenue mix overall • Capex: 9% revenue excluding Valencia spend (14% revenue total) Mid-term
Slide 22: Takeaways
Takeaways • Record 2022 revenue, above adjusted guidance despite geopolitical headwinds • Strong momentum in Healthcare Business Area: ➢ Launch of innovative PiccoJect™ autoinjector platform ➢ On track for our new US Healthcare production footprint in Atlanta • Recovery plans successful in Consumer
Slide 23: Questions
Questions medmix CONFIDENTIAL
Slide 24: Your Investor Relations contact
Your Investor Relations contact Sheel Gill Head of M&A, Strategy and Investor Relations, medmix Phone: +41 41 723 73 57 Mobile: +41 79 346 41 72 E-mail: investorrelations@medmix.com medmix Group AG Neuhofstrasse 20 6340 Baar Switzerland medmix CONFIDENTIAL