Slide 1: Q3'14 & 9M'14 Results
Q3’14 & 9M’14 Results
Slide 2: Disclaimer
DISCLAIMER These statements are related, among others, to the intent, belief or current expectations of the customer base, estimates regarding future growth in the different business lines and the global business, market share, financial results and other aspects of the activities and situation rela
Slide 3: Overview
OVERVIEW Highlights Q3 & 9M 2014 Main Topics Revenues Revenues: breakdown by technology Revenues: breakdown by geography Installed base expansion Profitability profile Business and Products Development Q3 & 9M 2014 Financials FY 2014 Company Guidance 3
Slide 4: Q3 & 9M 2014 Main Topics: Immunodiagnostics
Q3 & 9M 2014 Main Topics Revenues: +4.5% in Q3’14 and +2.5% in 9M’14 at CER Product Development in 9M’14 CLIA ex Vit D: +16.0% in Q3’14 and +17.4% in 9M’14 at CER Launch of: Growth as a result of: Adenovirus • Growth from HIV and Hepatitis, Prenatal screening, The 6th Liaison® gastrointestinal stool
Slide 5: Revenues
Revenues Q3’14 9M’14 vs. vs. Q3’13 9M’13 Sales in Q3’14 were up 4.6% vs. Q3’13 thanks to the increase of Clia Ex Vit D weight on total turnover @ current +4.6% +0.6% • Increase of Vit D volumes (+ 1.5% YTD), notwithstanding price decline • Decrease in Vit D weight in % of the total turnover SALES •
Slide 6: Revenues: Breakdown by Technology
Revenues: Breakdown by Technology Q3’14 9M’14 vs. vs. Q3’13 9M’13 @ current +16.0% +15.9% CLIA ex Vitamin D sales up thanks to growth of: • Hepatitis panel, infectivity, prenatal screening and CLIA ex Vit D Stool testing (good performance in GER/ISR/ITA) • Growth of the newly launched Vit D. 1,25 te
Slide 7: Revenues by Geography (QoQ & 9Mo9M comparison)
Revenues by Geography (QoQ & 9Mo9M comparison) Europe North America Vit D +4.4% +5.1% +2.8% -2.2% -9.9% -13.5% Q3’14 9M’14 Q3’14 9M’14 Q3’14 9M’14 France Germany -5.8% -8.1% +10.8% +14.6% CLIA ex Vit D Q3’14 9M’14 Q3’14 9M’14 +85.7% +77.2% Italy +6.8% +5.4% Q3’14 9M’14 Q3’14 9M’14 Apac +17.6% +8.5%
Slide 8: Revenues: Breakdown by Geography (1 of 2)
Revenues: Breakdown by Geography (1 of 2) Q3’14 vs. 9M’14 vs. Q3’14 vs. 9M’14 vs. Q3’13 9M’13 Q3’13 9M’13 • Strong performance in a weak country market Europe +4.4% +5.1% Italy +6.8% +5.4% • Acceleration of Clia ex Vit D tests (+8.2%) • Continuous Growth of Vit D tests (+16.0%) • Solid and steady gr
Slide 9: Revenues: Breakdown by Geography (2 of 2)
Revenues: Breakdown by Geography (2 of 2) Q3’14 vs. 9M’14 vs. Q3’14 vs. 9M’14 vs. Q3’13 9M’13 Q3’13 9M’13 Apac +17.6% +8.5% China +19.1% +10.0% • Steady growth of CLIA products • Ongoing success of Liaison® XL reaching 98 total units in the country (+30 in Q3’14) • Strengthening of Clia ex Vit D tes
Slide 10: Installed Base Expansion
INSTALLED BASE expansion Total units Net Total units Net Total units at Dec 30, placements in at June 30, placements in at Sept 30, 2013 9M’14 2014 Q3’14 2014 4,197 -5 4,181 +11 4,192 1,075 +446 1,380 +141 1,521 TOTAL 5,272 +441 5,561 +152 5,713 10
Slide 11: Profitability Profile
Profitability Profile Q3’13 Q3’14 9M’13 9M’14 Statutory 37.1% 36.7% -40bps 37.8% 36.2% -160bps EBITDA margin excluding Molecular Business, 39.0% 37.5% -150bps 39.8% 37.8% -200bps at CER* Solid and strong Group marginality driven by: Q3’14: Excluding the positive effect of exchange rates (+ € 0.7 mil
Slide 12: Overview
OVERVIEW Highlights Q3 & 9M 2014 Main Topics Revenues Revenues: breakdown by technology Revenues: breakdown by geography Installed base expansion Profitability profile Business and Products Development Q3 & 9M 2014 Financials FY 2014 Company Guidance 12
Slide 13: Business and Products Development: Immunodiagnostics
Q3’14 & 9M’14 Business and Products Development Business Development in 9M’14 Expansion of Liaison® XL menu offering to LabCorp with 15 new 3-year extension of agreement with LabCorp tests, while maintaining existing Vitamin D business Marketing approvals for Hepatitis B and C, Retrovirus and Syphil
Slide 14: Overview
OVERVIEW Highlights Q3 & 9M 2014 Main Topics Revenues Revenues: breakdown by technology Revenues: breakdown by geography Installed base expansion Profitability profile Business and Products Development Q3 & 9M 2014 Financials FY 2014 Company Guidance 14
Slide 15: Q3'14 Results: Income Statement
Q3’14 Results: Income Statement (in mln of Euro) Q3'14 2014 2013 Var. Var. % Net Revenues 109.0 104.2 +4.8 +4.6% Gross profit 72.4 70.7 +1.7 +2.5% Gross margin 66.4% 67.8% -1.4% S&M (21.6) (20.3) -1.3 +6.3% R&D (6.2) (5.5) -0.6 +11.8% G&A (12.4) (11.4) -1.0 +8.5% Other operating expenses (0.1) (1.7)
Slide 16: 9M'14 Results: Income Statement
9M’14 Results: Income Statement (in mln of Euro) 9M'14 2014 2013 Var. Var. % Net Revenues 325.8 323.9 +1.9 +0.6% Gross profit 218.3 222.6 -4.2 -1.9% Gross margin 67.0% 68.7% -1.7% S&M (65.6) (63.3) -2.3 +3.7% R&D (18.6) (17.7) -0.8 +4.8% G&A (36.7) (35.9) -0.8 +2.1% Other operating expenses (1.9) (4
Slide 17: Balance Sheet at 30 Sep 2014
Balance Sheet at 30 Sep 2014 + €/mln 9/30/2014 12/31/2013 Var. Total intangible assets 117.8 119.4 -1.6 Total tangible assets 70.6 66.3 +4.4 Other non-current assets 24.7 23.2 +1.5 Net Working Capital 138.0 141.7 -3.7 Other non-current liabilities (35.9) (34.4) -1.5 Net Capital Employed 315.2 316.2
Slide 18: Q3'14 & 9M'14 Results: Cash Flow Statement
Q3’14 & 9M’14 Results: Cash Flow Statement €/mln Q3 9M Change in Value Change in Value 2014 2013 2014 2013 Cash and cash equivalent - Opening balance 88.7 67.5 +21.2 105.1 104.6 +0.5 Operating activities 39.0 36.7 +2.3 91.9 85.5 +6.4 Investing activities (6.8) (8.7) +1.9 (21.0) (21.6) +0.6 Financial
Slide 19: Overview
OVERVIEW Highlights Q3 & 9M 2014 Main Topics Revenues Revenues: breakdown by technology Revenues: breakdown by geography Installed base expansion Profitability profile Business and Products Development Q3 & 9M 2014 Financials FY 2014 Company Guidance 19
Slide 20: FY 2014 Company Guidance
FY 2014 COMPANY GUIDANCE Revenues: Growth between +3% and +5% at CER vs. FY’13 Revenues EBITDA: Growth ca. +3% at CER vs. FY’13 EBITDA New systems installed (Liaison® + Liaison® XL): ~ 500 20
Slide 21: DiaSorin
DiaSorin ‘The Diagnostic Specialist