Novacyt Sas · EURONEXT:ALNOV
Novacyt Sas — Novacyt — FY2024 Earnings Presentation
18 slides from Novacyt Sas's earnings presentation, Apr 30, 2025
Slide 1: 2024 Full Year Results
2024 Full Year Results 30 April 2025
Slide 2: Presenters
Presenters Lyn Rees, Chief Executive Officer Steve Gibson, Chief Financial Officer • CEO of Novacyt Group since 1 May 2024 • Joined Novacyt in 2017 • 6 years as CEO of Yourgene Health • Group Finance Director since February 2020, CFO • Drove the acquisition of Elucigene Diagnostics since January 202
Slide 3: What we do
What we do International molecular diagnostics company with a growing portfolio of clinical assays, instrumentation and research tools. With deep focus and expertise across reproductive health, precision medicine and infectious disease. Clinical IVD assays & Research qPCR kits DNA size selection Hum
Slide 4: Novacyt Group Overview
Novacyt Group Overview Locations: • Manchester, UK • Miami, USA • Singapore • Canada • Commercial presence in over 65 countries Headquartered in Le Vésinet in France Listed on the: • London Stock Exchange's AIM market ("NCYT") • Paris Stock Exchange Euronext Growth ("ALNOV") • Novacyt Group employs
Slide 5: Novacyt Group Overview
Novacyt Group Overview © Novacyt Group of companies 4
Slide 6: Operational Highlights
Operational Highlights Site Consolidation Strengthened Board • Closed sites in Vancouver and Stokesley, UK • Dr John Brown, Chairman • Relocation of Eastleigh operations to • Ian Gilham, Non-executive Director Manchester underway • Lyn Rees, CEO • Created an operational centre of excellence • Dr Jo
Slide 7: 2024 Audited Full Year Results
2024 Audited Full Year Results © Novacyt Group of companies
Slide 8: Financial Highlights
Financial Highlights • Successfully resolved DHSC dispute and reclaimed £12.2m VAT • Revenue of £19.6m - strong growth in Reproductive Health (26%) and Ranger ® consumables (13%) • Underlying gross profit increases to £12.3m • Underlying gross profit margin up to 63%, from 33% • EBITDA loss decrease
Slide 9: Revenue by Segment
Revenue by Segment FY 2024 FY 2023 £15.3m £5.6m FY 2024: 78% 53% £19.6m £4.3m £5.0m 22% 47% © Novacyt Group of companies 8
Slide 10: Revenue by Geography
Revenue by Geography FY 2024 FY 2023 United Kingdom £4.4m 22% 31% France £2.5m 13% 10% Rest of Europe £3.6m 18% 14% America £2.7m 14% 14% Asia-Pacific £5.1m 26% 23% Middle East & Africa £1.3m 7% 8% © Novacyt Group of companies 9
Slide 11: Income Statement
Income Statement FY 2024 FY 2023 £m £m Revenue 19.6 10.6 Underlying gross profit is 63%, Gross profit 32.1 3.5 excluding the impact of the DHSC Gross profit % 163% 33% settlement Operating expenditure (41.1) (15.3) Includes £20.0m DHSC related bad EBITDA (9.1) (11.8) debt write-off EBITDA % -46% -11
Slide 12: Income Statement
Income Statement FY 2024 FY 2023 £m £m Revenue 19.6 10.6 Gross profit 32.1 3.5 Gross profit % 163% 33% £2.9m improvement in EBITDA year-on- year after excluding £0.2m net impact Operating expenditure (41.1) (15.3) of DHSC settlement EBITDA (9.1) (11.8) Exceptional costs of £21.0m include: EBITDA % -
Slide 13: Summary Balance Sheet
Summary Balance Sheet Strong balance sheet to support FY 2024 FY 2023 achieving profitability £m £m Finalised the Yourgene Health Non-current assets 31.3 47.4 acquisition accounting and subsequent £11.2m Goodwill impairment Inventories 2.3 3.0 Trade and other receivables 6.7 39.4 Write-off of £24.0m
Slide 14: FY 2024 Cash Flow
FY 2024 Cash Flow * excludes £3.4m of payments related to the DHSC commercial dispute, the £5.0m settlement payment made to the DHSC in July 2024 and the £12.2m DHSC related VAT reclaim received in August 2024 which are shown separately under ‘Net DHSC cashflow’. © Novacyt Group of companies 13
Slide 15: Q1 2025 Trading
Q1 2025 Trading • Q1 2025 trading in-line with Management expectations • Chosen to re-invest circa £2.0m of cost savings in 2025 back into R&D to accelerate organic growth • £27.9m cash as at 31 March 2025. Q1 cash outflow contained around £0.5m of exceptional items • Management is confident that th
Slide 16: Strategic growth drivers
Strategic growth drivers • New NIPT laboratory customers across Europe, Asia and South America Reproductive • Strong growth of cystic fibrosis portfolio in Australia due to reimbursement • Yourgene QST*R Base and Yourgene Cystic Fibrosis Base assays receive IVDR certification Health • IONA Nx NIPT W
Slide 17: Foundations laid for future growth
Foundations laid for future growth Reduced cost base, rationalised product portfolio by discontinuing low margin products, rightsized operational footprint, creating a centre of excellence in Manchester, with changes on track to deliver c. £3.0m of savings Key products have hit key milestones (IVDR,
Slide 18: investors@novacyt.com novacyt.com Novacyt Group (UK)
investors@novacyt.com novacyt.com Novacyt Group (UK) Skelton House Lloyd Street North Manchester Science Park Manchester M15 6SH, UK