Bactiguard Holding Ab · OMXSTO:BACTI_B
Bactiguard Holding Ab — Q1 2021 Earnings Presentation
26 slides from Bactiguard Holding Ab's earnings presentation, Apr 22, 2021
Slide 1: Bactiguard Q1 2021
Bactiguard Q1 2021 Investor presentation – 22 April, 2021 Cecilia Edström, CEO Gabriella Björknert Caracciolo, CFO
Slide 2: Global outlook
Global outlook COVID-19 situation • USA highest total number of cases, followed by India and Brazil • > 140 million confirmed cases • Half of the US population received a first dose of vaccine • > 3 million deaths • India imposing new look downs to curb second, more serious wave • EU – slow vaccine
Slide 3: COVID-19 patients in ICUs, Sweden
COVID-19 patients in ICUs, Sweden Secondary bacterial infections increasing • Increasing number of cases in third wave • Lower general death rates - vaccine effect for elderly • High and increasing ICU utilization • Recent increase in deaths in ICUs • Secondary bacterial infections increasing • Vent
Slide 4: COVID-19 and hospital-acquired infections (HAI)
COVID-19 and hospital-acquired infections (HAI) Recent publication from Italy • 774 patients with COVID-19 treated at intensive care unit (ICU), 8 hospitals in Italy • 46% of patients developed HAI • 35% of all HAI events were caused by multi-drug resistant (MDR) bacteria • Of the HAI events: ➢ 50%
Slide 5: Financial summary
Financial summary • Sales MSEK 41.8 (48.1) down by 13% (- 3% currency adjusted) FY 2020 (2019), MSEK ➢ BD license revenues of MSEK 25.4 (27.8) – approaching normal levels ➢ BIP sales of MSEK 13.0 (16.2) Sales 186.0 (193.9) where of • EBITDA of MSEK 1.9 (14.4) License revenue 103.5 (144.8) BIP Sales
Slide 6: Operational highlights
Operational highlights Important break-through with Zimmer Biomet and high activity level License business • CE-mark for Bactiguard-coated Zimmer Biomet trauma implants, production initiated • BD’s business at more ”normalised” levels • Several interesting dialogues underway Bactiguard portfolio • C
Slide 7: Business model and market coverage
Business model and market coverage BUSINESS MODEL G LO BAL PRESENCE BIP Foley, CVC, ETT Advanced Wound Care Advanced Disinfection 7
Slide 8: Zimmer Biomet partnership milestones
Zimmer Biomet partnership milestones Orthopedic trauma implants EU Production in BG facilities Partnership initiated MDR EU commercialisation 2019 2021 2022 2024 US FDA process FDA US commercialisation initiated approval Tentative timeline 8
Slide 9: Contract manufacturing for Zimmer Biomet
Contract manufacturing for Zimmer Biomet Bactiguard facility in Penang Malaysia, April 2021 9
Slide 10: License agreement with Bard/BD celebrating 30 years
License agreement with Bard/BD celebrating 30 years • Bactiguard coated Foley catheters • Exclusivity for USA, Japan and UK/Ireland 2020 • High and stable market share > 200 million 2007 • Established as ”Standard of care” catheters sold FDA approval 2000 Temperature sensing Catheter FDA approval 3-
Slide 11: Bactiguard coated Foleys standard of care in USA and Japan
Bactiguard coated Foleys standard of care in USA and Japan A successful launch strategy Unit sales thousands 12000 • Limited clinical evidence at launch – risk sharing model and ”money back 10000 guarantee” to kick-start sales 8000 • Strong volume growth over 15 years (~40% market share), thereafter
Slide 12: Major potential for growth
Major potential for growth Global market 2017 USD million 12
Slide 13: Strong clinical evidence
Strong clinical evidence More applications and markets covered • >200 million Bactiguard coated catheters used • No reported adverse events associated with the coating • Over 40 clinical studies including more than 100,000 patients • 42% weighted average reduction of symptomatic CAUTI, and over 90%
Slide 14: Significant reduction of CAUTI
Significant reduction of CAUTI A major randomized multi-center study in India https://rdcu.be/cgCEH 1. Kai-Larsen, Y., Grass, S., Mody, B. et al. Foley catheter with noble metal alloy coating for preventing catheter-associated urinary tract infections: a large, multi-center clinical trial. Antimicro
Slide 15: Vision Zero for healthcare associated infections in India
Vision Zero for healthcare associated infections in India 15
Slide 16: Focus on sales, education & training
Focus on sales, education & training • Nordic and Malaysian sales teams • Bactiguard Academy o Digital platforms and webinars • Instructional movies o Urinary catheterization o Preparation, insertion and maintenance of CVC o Disinfection of skin and surfaces • Clinical Guidelines • Collaboration wit
Slide 17: Financial update
Financial update
Slide 18: Stable revenues first quarter
Stable revenues first quarter Still negative COVID-19 impact on the business • Stable BD license revenues but negative currency effect in Q1 • Broader product portfolio from Malaysian acquisition, increasing sales of BIP products but still negative Covid-19 impact • No new license revenue in Q1 • EB
Slide 19: Financial overview
Financial overview 2021 2020 2019 Q1 2021 (Q1 2020) Full MSEK Q1 RTM Q1 Q2 Q3 Q4 Q1 year • Negative revenue growth of - Revenues 41,8 179,7 48,1 48,2 34,1 55,6 186,0 33,9 13%, adjusted for currency -3% EBITDA 1,9 14,2 14,4 10,5 -3,1 4,9 26,7 7,2 EBITDA margin % 5% 8% 30% 22% -9% 9% 14% 21% • EBITDA
Slide 20: Cash flow and liquidity
Cash flow and liquidity • Operating cash flow for Q1 MSEK -0.9 (-3.5) • Terms of the loan agreement with SEB renegotiated • Overdraft facility increased from MSEK 30 to MSEK 45 – MSEK 14.1 utilized as of March 31 • Available liquidity incl overdraft facility MSEK 40.3 (49.7) 20
Slide 21: Clear growth strategy
Clear growth strategy Effective and safe Recurring license Broader product infection revenues and new portfolio and prevention agreements market coverage 21
Slide 22: Ten reasons to invest in Bactiguard
Ten reasons to invest in Bactiguard Long-term owners and Contribution to UN Global Sustainable dedicated management 10 1 Development Goals Safe and effective Profitable growth 9 2 technology Infection prevention License business 8 a central component 3 Clinical evidence in future healthcare Broad pr
Slide 23: Infection prevention is better than cure
Infection prevention is better than cure 23
Slide 24: Bactiguard on the outside – safe on the inside
Bactiguard on the outside – safe on the inside
Slide 25: Questions & Answers
Questions & Answers Cecilia Edström CEO Phone +46 8 440 58 80 cecilia.edstrom@bactiguard.com Gabriella Björknert Caracciolo CFO Phone +46 8 440 58 80 gabriella.caracciolo@bactiguard.com 25
Slide 26: Upcoming events and financial reports
Upcoming events and financial reports April 28, 2021 • AGM 2021 July 15, 2021 • Q2 2021 October 28, 2021 • Q3 2021 26