Atrys Health Sa · BME:ATRY
Atrys Health Sa — FY2020 Earnings Presentation
31 slides from Atrys Health Sa's earnings presentation, April 2021
Slide 1: 2020 year-end report
2020 year-end report April, 2020 Santiago de Torres Isabel Lozano José Mª Huch Presidente Ejecutivo CEO CFO
Slide 2: Disclaimer and Cautionary Statements
Disclaimer and Cautionary Statements El presente documento y la conferencia de resultados (incluyendo el turno de preguntas y respuestas) puede contener manifestaciones de futuro e información (d de ahora en adelante, “Manifestaciones”) relacionados con ATRYS HEALTH, S.A, o el Grupo ATRYS (de ahora
Slide 3: Introduction
INTRODUCTION Image of IOA ( Instituto Oncológico Avanzado) Barcelona. Spain – ATRYS / CIMA SANITAS Image of IOA ( Instituto Oncológico Avanzado) Barcelona. Spain
Slide 4: ATRYS: Our trip
ATRYS: Our trip 2021 Acquisition of: 2020 - ASPY Acquisition of: - Lenitudes - ITMS (entry to Portugal) 2019 (entry to Chile, Brazil & Peru) - ROAG Acquisition of: - Axismed (entry to Switzerland) - Real Life Data - ICM Business transformation - Teleradiología de Combia Capital Increase stage (entry
Slide 5: ATRYS: Where we are today
ATRYS: Where we are today ▪ The integration of ASPY (takeover bid acceptance >95% as of April 26) will transform Atrys into a global healthcare player Work in progress to become a 360○ health company offering services to cover the entire spectrum of the healthcare cycle, from prevention to long-term
Slide 6: 2020 Acquisitions
2020 Acquisitions ITMS - July 2020 Leading company in telecardiology and teleradiology in Chile, with presence in Colombia, Brazil and Peru. The acquisition allows ATRYS to lead the telemedicine industry by market share in Chile, Spain and Colombia. 2020 main figures: €15.2M turnover and €4.1M Adjus
Slide 7: 2021 Acquisitions
2021 Acquisitions ITMS - February 2021 Lenitudes is a Portuguese group that operates in the health and medical services sector offering a complete range of radio- diagnostic services, nuclear medicine, radiotherapy, chemotherapy and other clinical oncology services. The whole price has been paid to
Slide 8: ATRYS main figures 2016-2021e
ATRYS main figures 2016-2021e1 Over the last 5 years the Group has scaled up from nearly scratch to: ▪ Become the world leader in teleradiology and telecardiology in Spanish language. ▪ Setting the foundations to become a leading european group in oncology diagnosis and treatments with a strong foot
Slide 9: ATRYS share
ATRYS share Atrys market cap evolution (€M) 347 299 16 113 57 24 1 2016 2017 2018 2019 2020 04/2021 Share turnover (€M) Since its IPO in June 2016 in BME growth, the ATRYS share has 2020 year end report | April 2020 experienced a 601% revaluation versus a 9.1% revaluation of the IBEX-35 for the same
Slide 10: ATRYS: Where we go – 2021/2022 strategic goals
ATRYS: Where we go – 2021/2022 strategic goals ▪ Expand the company's footprint in Europe through acquisitions. ▪ Accelerate diagnostic automation by incorporating AI tools in order to reduce costs and improve diagnostic quality. 10 ▪ Enhance our data management through Smart/Big Data. ▪ Introduce n
Slide 11: Analysis of 2020 Results
ANALYSIS OF 2020 RESULTS Image of advanced radiotherapy site at IOA – CIMA SANITAS / ATRYS . Barcelona. Spain
Slide 12: 2020 Main Figures
2020 Main Figures 2020 Aggregated proforma: Turnover Adj. EBITDA Net Financial Debt Equity €45.1 M €13.0 M €42.4 M €75.3 M -12% YoY +100% YoY +89% YoY +28% YoY -5% YoY at constant forex rate 28.8% / Turnover €32.6 M excluding Convertible Bonds Net Equity/NFD Adj. EBITDA Operating NFD/Adj. EBITDA Cas
Slide 13: 2020 – 2021 Guidance (Aggregated Proforma figures)
2020 – 2021 Guidance (Aggregated Proforma1 figures) For 2021, Atrys expects a +74% increase in the Group’s Adjusted EBITDA per share on a proforma basis. 2020 2020 2021 Guidance Reported Guidance Turnover: €45-47 M ✓ €45.1 M €175.0 M Adjusted EBITDA: €13.0 M ✓ €13.0 M €41.0 M No of fully diluted sha
Slide 14: Income Statement 2020
Income Statement 2020 1 2 IFRS Aggregated Proforma IFRS 31 Dec. 31 Dec. Var. (%) 31 Dec. 31 Dec. Var. (%) (000) EUR 2019 2020 2019/20 2019 2020 2019/20 Turnover 14.837 31.396 112% 51.207 45.133 -12% Gross Margin 10.376 21.839 110% 29.834 30.503 2% % gross margin on turnover 69,9% 69,6% -1% 58,3% 67,
Slide 15: 2020 Highlights
2020 Highlights ▪ Turnover: Increased by 112% YoY reaching €31.4M at end-2020. On a proforma basis and at constant perimeter1 turnover declined 12% YoY (-5% at constant exchange rates). By regions, on a proforma basis, turnover in Spain increased 19% YoY while LatAm turnover decreased 33% YoY (- 16%
Slide 16: Aggregated Proforma turnover evolution
Aggregated Proforma1 turnover evolution Proforma turnover breakdown: Quartely proforma turnover evolution : (€M) (€M) +4% -12% -29% -7% -16% 14,5 15,0 -5% 12,8 11,7 12,2 3,9 -6,3 10,8 -3,7 10,2 9,1 2019 2020 51,2 48,8 45,1 2019 Spain LatAm 2020 Forex 2020 1Q 2Q 3Q 4Q Ex Forex impact 2020 year end re
Slide 17: Turnover geographic distribution
Turnover geographic distribution The expected acquisitions in 1S21 are going to rebalance the Group’s country risk exposure, switching from 44.2% of its turnover arising from emerging markets in 2020, to barely 15.7% in 2021. 10% 3% 3% 10% 7% 3% 20201 Proforma 20212 estimated 9% turnover Proforma tu
Slide 18: Aggregated Proforma adjusted EBITDA evolution
Aggregated Proforma2 adjusted EBITDA evolution Adjusted EBITDA reconciliation: One-off 2020 expenses detail: (€M) (€M) One-off expenses 2020 Spain Latam Total 1) Personnel executed restructuring 0.3 1.6 1.9 2) M&A one-off related expenses 2.1 - 2.1 5,1 3) One-off expenses pre-acquisitions3 - 1.1 1.1
Slide 19: Aggregated Proforma operative cash flow conversion
Aggregated Proforma1 operative cash flow2 conversion 2019 Proforma operative cash flow: 2020 Proforma operative cash flow: (€M) (€M) 0,1 -0,3 -0,3 -0,4 -0,7 0,5 -2,6 -2,4 -1,8 -2,5 10,1 13,0 8,0 4,7 2020 year end report | April 2020 2019 Grants Non-cash IFRS16 R&D Tangible 2019 2020 Grants Non-cash
Slide 20: New Financial Structure
New Financial Structure Equity Increase: €35M – July 2020. Equity increase for institutional investors covered with a book demand of €110M. 2020 MARF Bond Programme: €50M – July 2020 / March 2021. New MARF Bond Programme for a maximum of €50M due in 2025 (bullet scheme) fully disbursed (€30M in July
Slide 21: Debt position & covenants
Debt position & covenants 2020 Consolidated Debt position: 2020 MARF Programme Debt covenants: (€M) Gross debt Net debt 2 61,3 42,4 Ratios 2020 Limit NFD / Adj.PF.EBITDA: 2.5x ✓ <4.0x NFD2 / Adj.PF.EBITDA: 3.3x ✓ <4.0x MARF Bond Programme 30,0 Net Equity / NFD: 1,8x ✓ >1,2x Adj.PF.EBITDA/ Financial
Slide 22: Let’s recap
Let’s recap Global leader in teleradiology & telecardiology in Spanish speaking countries and third company in the word by no. of diagnosis tests a year. Work in progress to become a 360○ health company offering services to cover the entire spectrum of the healthcare cycle, after the integration of
Slide 23: Q&A
Q&A Image of Lenitudes Oncological site in Sta Maria da Feira. Portugal
Slide 24: Appendix
APPENDIX Image ICM Genetyc Center in Lugo. Spain
Slide 25: 2020 Statutory P&L
2020 year end report | April 2020 25 2020 Statutory P&L
Slide 26: 2020 Statutory Balance Sheet
2020 year end report | April 2020 26 2020 Statutory Balance Sheet
Slide 27: 2020 PyG Consolidado contable
2020 year end report | April 2020 27 2020 PyG Consolidado contable
Slide 28: 2020 Balance consolidado contable
2020 Balance consolidado contable 2020 year end report | April 2020 28
Slide 29: Terms and definitions
Terms and definitions Gross Financial Debt (GFD): 2020 Aggregated Proforma: Sum of all debts that generate a financial expense and which are pending payment as of Full year impact in the P&L Account of the acquisitions carried out during 2020: ITMS December 31 of each year in the Consolidated Financ
Slide 30: Terms and definitions
Terms and definitions COVID19: The novel SARS-CoV-2 coronavirus is a new type of coronavirus that was first detected in December 2019 in Wuhan City, Hubei Province, China. Group’s Auditor: It refers to BDO Auditores S.L.P. Net assets / Shareholders equity: As of 31th December of each year, it means
Slide 31: Thank you
~atrys Precision care for people Thank you