Diasorin S.p.a. · MIL:DIA
Diasorin — H1 2023 Earnings Presentation
18 slides from Diasorin's earnings presentation, Jul 27, 2023
Slide 1: H1 2023 Results
DiaSorin H1 2023 RESULTS July 27, 2023
Slide 2: Disclaimer
DISCLAIMER In General. This disclaimer applies to this presentation and any oral No distribution of this Presentation. This Presentation is being furnished to comments of any person presenting it. This document, taken together you solely for your information and may not be reproduced, in whole or in
Slide 3: Forward-Looking Statements
FORWARD-LOOKING STATEMENTS This document contains forward-looking statements that are based on current expectations, estimates, forecasts and projections about the industries in which DiaSorin operates and the beliefs and assumptions of the management of DiaSorin. In addition, the management of DiaS
Slide 4: Financial Highlights
FINANCIAL HIGHLIGHTS DiaSorin
Slide 5: Financial Highlights
FINANCIAL HIGHLIGHTS Change Change Data in €/mln Q2’23 H1’23 @ current @ CER @ current @ CER Revenues 287 -13% -11% 576 -16% -16% Immunodiagnostics ex-COVID 183 +6% +8% 355 +7% +7% Molecular Diagnostics ex-COVID 46 -10% -8% 97 -2% -3% Licensed Technologies1 44 +7% +10% 86 +2% +2% COVID 13 -75% -73%
Slide 6: H1 2023 Key Facts
H1 2023 KEY FACTS PRODUCT & BUSINESS DEVELOPMENT IMMUNODIAGNOSTICS • LIAISON® B·R·A·H·M·S MR-proADM™ assay launched in all countries accepting the CE Mark to improve patient management by providing the assessment of disease severity. • Consolidation of strategic partnership strategic partnership wit
Slide 7: Managerial Outlook on Q2 and H1 2023 Revenues
MANAGERIAL OUTLOOK ON Q2 AND H1 2023 REVENUES Q2’23 Group revenues (data in €/mln) H1’23 Group revenues (data in €/mln) Data @CER Data @CUR Data @CER Data @CUR -11% -13% -16% -16% 328 328 685 685 292 287 53 576 576 53 14 13 150 150 45 50 44 35 35 50 104 89 104 90 52 47 52 46 96 99 99 97 173 186 173
Slide 8: Q2 and H1 2023 Revenues Growth by Geography
Q2 AND H1 2023 REVENUES GROWTH BY GEOGRAPHY Q2’23 vs. Q2’22 H1’23 vs. H1’22 BY GEOGRAPHY (comments on H1 results) @CER @CER NORTH AMERICA DIRECT EX-COVID • Revenues at constant perimeter of consolidation1 growing +3% (+2% @CER) -1% -2% • Immunodiagnostics: excellent performance driven by the strong
Slide 9: Q2 and H1 2023 Revenues Growth by Geography
Q2 AND H1 2023 REVENUES GROWTH BY GEOGRAPHY Q2’23 H1’23 COVID COVID 4.7% 6.0% Rest of the World Rest of the World 17.3% North America 16.4% North America Direct Direct 44.7% 44.2% Europe Direct Europe Direct 33.3% 33.4% Q2’22 H1’22 COVID COVID 16.2% 21.8% North America North America Direct Direct 40
Slide 10: Q2 and H1 2023 Profitability Profile
Q2 AND H1 2023 PROFITABILITY PROFILE (data in €/mln @ current exchange rates) 37% 32% 328 287 120 92 Adjusted2 EBITDA margin decrease mostly due to lower COVID revenues, resulting in operating leverage reduction, whereas Gross Margin ratio in line with H1’22 (despite the reduction in sales of COVID
Slide 11: FY 2023 Company Guidance
FY 2023 COMPANY. GUIDANCE DiaSorin
Slide 12: FY 2023 Company Guidance
FY 2023 COMPANY GUIDANCE FY 2023 GUIDANCE (@ CER 2022) CONFIRMED • TOTAL REVENUES: approx. -14% • REVENUES AT CONSTANT PERIMETER OF CONSOLIDATION1: approx. - 11%, of which: • ex-COVID revenues, net of molecular respiratory business: +4% / +6% • Molecular respiratory business revenues: approx. -20% •
Slide 13: Financial Schemes
FINANCIAL SCHEMES
Slide 14: Income Statement
INCOME STATEMENT Q2 H1 (Amounts in million of euros) 2022 2023 2022 2023 Net Revenues 327.8 286.8 685.4 576.4 Cost of sales (113.1) (100.0) (235.9) (197.7) Gross profit 214.7 186.7 449.5 378.7 65.5% 65.1% 65.6% 65.7% Sales and marketing expenses (73.4) (69.3) (141.9) (141.9) Research and development
Slide 15: Reconciliation to Consolidated Financial Statements
RECONCILIATION TO CONSOLIDATED FINANCIAL STATEMENTS (amounts in million of Euro) Gross Margin EBITDA EBIT Net Profit IFRS Financial Statements Measures 378.7 182.4 117.4 86.9 % on Revenues 65.7% 31.6% 20.4% 15.1% Adjustments “One-off” costs related to the integration and restructuring of Luminex,and
Slide 16: Balance Sheet
BALANCE SHEET (Amounts in million of euros) 12/31/2022 06/30/2023 Change Goodwill and intangibles assets 1,995.1 1,956.4 -38.7 Property, plant and equipment 268.4 262.4 -6.1 Other non-current assets 38.2 38.3 +0.1 Net working capital 434.0 392.9 -41.1 Other non-current liabilities (309.4) (293.3) +1
Slide 17: Cash Flow Statement
CASH FLOW STATEMENT Q2 H1 (Amounts in million of euros) 2022 2023 2022 2023 Cash and cash equivalents at the beginning of the period 521.5 372.6 403.0 241.8 Cash provided by operating activities 45.7 104.4 180.1 145.6 Cash used in investing activities (28.9) 87.0 (51.9) 69.3 Cash provided by the sal
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