Cellavision Ab · OMXSTO:CEVI
Cellavision Ab — Investor Day (October 2022)
84 slides from Cellavision Ab's investor day presentation, October 2022
Slide 1: The Power of Focus – Capital Markets Day 2022
THE POWER OF FOCUS ENHANCING THE FUTURE OF MICROSCOPY CAPITAL MARKETS DAY 2022
Slide 2: Safe Harbor Statement
DISCLAIMER SAFE HARBOR STATEMENT This presentation contains forward-looking statements that reflect management’s current views with respect to certain future events and potential financial performance. Forward-looking statements are other statements than statements of historical facts and are by nat
Slide 3: a = —
a = —
Slide 4: The Power of Focus
THE POWER OF FOCUS ENHANCING THE FUTURE OF MICROSCOPY CAPITAL MARKETS DAY 2022
Slide 5: Welcome
WELCOME Adele Horn | Corporate communications & Investor relations
Slide 6: Today's Focus Areas
TODAY’S WELCOME Adele Horn | Corporate Communications & Investor relations FOCUS OUR JOURNEY & STRATEGY Simon Østergaard | President & CEO AREAS THE VALUE CELLAVISION CREATES Steven Marionneaux | Scientific & Medical Affairs Advisor BREAK MARKET AGENDA Peter Wilson | VP Global Marketing Julien Veyss
Slide 7: Our Journey and Strategy
OUR JOURNEY AND STRATEGY Simon Østergaard | President & CEO
Slide 8: CellaVision in Brief
WHO WE ARE CELLAVISION IN BRIEF A DIAGNOSTIC COMPANY WITH ALL KEY CAPABILITIES TO DELIVER UNIQUE OFFERINGS BY DIGITALIZING GLOBAL PRESENCE IN 17 COUNTRIES MICROSCOPY WORKFLOWS. IMAGE QUALITY High quality slide preparation in combination with digital image capturing drives improved image quality STAI
Slide 9: Mission and Vision
MISSION To advance laboratory workflow and diagnostic certainty through intelligent microscopy VISION Elevating healthcare through the evolution of microscopy
Slide 10: Market Drivers for Digital Microscopy
MARKET DRIVERS FOR DIGITAL MICROSCOPY DEMOGRAPHY DEMAND FOR CONSOLIDATION & EFFICIENCY STANDARDIZATION Ageing population Macro Labor shortage Consolidation of laboratories trends Increased prosperity Increasing # Reduced health Standardization and accuracy care spending blood samples PATIENT VALUE C
Slide 11: Our Journey
OUR JOURNEY Established in 1994, CellaVision aimed to develop an analyzer for automizing blood analysis. In 2001 the first instrument was sold in Europe. Since 2001 CellaVision has expanded sales to an increasing number of markets and widened the product offering for microscopy workflows.
Slide 12: Our Journey from 1994 to 2019
OUR JOURNEY FROM 1994 TO 2019 REVENUE 100 1000 2000 UNITS UNITS UNITS MSEK 500 RAL ACQUISITION DC-1 LAUNCH (EU) 400 300 200 DM9600 LAUNCH DI-60 LAUNCH 100 DM1200 LAUNCH 0 1994 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Slide 13: 2019 and Beyond
THE NEW ERA 2019 AND BEYOND REVENUE MSEK THE POWER OF FOCUS Revenue >SEK 1B via ~15% CAGR growth 1 BSEK SUPERIOR NEW AREAS MICROSCOPY EXPLORE PLATFORMS DIGITALIZE WORKFLOWS SPECIALTY SOLUTIONS FOR SPECIALTY ANALYSES EXPAND REAGENTS GEOGRAPHIC EXPANSION SMEARING WORKFLOW POSITIONING & LAUNCH 500 ACCE
Slide 14: The Power of Focus: Strategy 2026 and Beyond
THE POWER OF FOCUS: STRATEGY 2026 AND BEYOND • Unlocking the full potential of the CellaVision value creating offerings • Continuing the journey to digitalize and improve microscopy workflows in the medical labs of the world. EXPLORE EXPAND ACCELERATE MAXIMIZE 1 2 3 4 5 LARGE LABS SMALL-MEDIUM REAGE
Slide 15: Strategy 2026 and Beyond: Go-to-Market Model
STRATEGY 2026 AND BEYOND EXPLORE Value Propositions and revenue drivers across the growth platforms EXPAND ACCELERATE MAXIMIZE LARGE SMALL-MEDIUM REAGENTS SPECIALTY NEW 1 LABS 2 LABS 3 4 ANALYSES 5 AREAS High-volume routine analysis Low-volume routine analysis High-quality reagents – for Specialty a
Slide 16: Building an Ecosystem for Hematology Laboratories
FULFIL OUR MISSION BY BUILDING AN ECOSYSTEM WITH NEW OPPORTUNITIES AND SYNERGIES TO ADDRESS UNMET NEEDS FOR ALL HEMATOLOGY LABORATORIES WORKFLOW ADVANTAGES • Facilitating and optimizing the processes within and between hospitals and laboratories DIAGNOSTIC CERTAINTY • Low volume specialty analyses a
Slide 17: The Value CellaVision Creates
THE VALUE CELLAVISION CREATES Steven Marionneaux PhD | Scientific & Medical Affairs Advisor
Slide 18: Role of Microscopy in Laboratory Workflow
ROLE OF MICROSCOPY IN LABORATORY WORKFLOW Cell Counter (CC) Accurate in normal samples Manual Microscope One by one count WBCs % each subtype RBCs & PLTs examined Cellavision using digital camera takes pictures, using AI, sorts Complete Blood Cell cells and presents them on HD monitor Count -CBC • 1
Slide 19: Limitations of Manual Microscopy
A CHANGE WAS NEEDED LIMITATIONS OF MANUAL MICROSCOPY One-by-one counting | sorting of WBCs, RBCs and PLT evaluation • Time consuming • Poor reproducibility of results • Resource draining • Microscope expertise required. Leukemia patients • Subjective have challenging blood cells • Lower quality of t
Slide 20: Quality Benefits
QUALITY BENEFITS • WBCs and RBCs automatically pre classified|sorted by subtype, images displayed for operator review and reclassification if needed • Faster test results • Side by side comparison of cells improves accuracy • Improved reproducibility of test results • More consistent monitoring of c
Slide 21: Increased Collaboration
INCREASED COLLABORATION Cellavision aids in remote working from different locations • Easily ask for 2nd opinion from tech or pathologist • Supervisor quality review at desk, easier to identify errors and counsel staff • Education and training of staff and students • Physicians could share images wi
Slide 22: Optimized Workflow Between Sites
OPTIMIZED WORKFLOW BETWEEN SITES Several smaller remote centers with labs at MSKCC- • Problem - each required experts to review blood smears using manual microscope • Solution- using Cellavision • Expert techs moved to main hospital • Other techs moved to remote centers. • Slides scanned on Cellavis
Slide 23: Conclusion – Top US Cancer Hospitals Use CellaVision
CONCLUSION Top 10 US Cancer Hospitals use CellaVision 1. University of Texas MD Anderson Manual microscopy became particularly problematic at MSKCC during a time of Cancer Center (Houston) rapid growth, staff shortages, and lack of microscope expertise 2. Memorial Sloan Kettering Cancer Center (New
Slide 24: Break
BREAK MARKET AGENDA Peter Wilson | VP Global Marketing Julien Veyssy | VP Reagents BREAK INNOVATION AGENDA Adam Morell | VP Devices & Software FINANCIAL OUTLOOK Magnus Blixt | CFO Q&A
Slide 25: Next Focus Area
NEXT OPENING Adele Horn | Corporate communications & Investor relations THE CELLAVISION JOURNEY & STRATEGY FOCUS Simon Østergaard | President & CEO THE VALUE CELLAVISION CREATES AREA Steven Marionneaux | Scientific and medical affairs advisor BREAK MARKET AGENDA Peter Wilson | VP Global Marketing Ju
Slide 26: Market Agenda
MARKET AGENDA Peter Wilson | VP Global Marketing Julien Veyssy | VP Reagents
Slide 27: Distributor and CellaVision Roles in the Hematology Workflow
DISTRIBUTOR AND CELLAVISION ROLES IN THE HEMATOLOGY WORKFLOW
Slide 28: Our Sales Model
OUR SALES MODEL • CellaVision sells indirectly through distributors - a scalable sales model • Distributors are responsible for sales, installations and after-sales services • Reagents are sold through some of the same partners as well as a large network of regional and local distributors LARGE LAB
Slide 29: The Global Market
THE GLOBAL MARKET NUMBER OF LABS ANNUAL ADDRESSABLE # Large Labs ~ 17 000 MARKET POTENTIAL, LARGE LABS # Small Labs: 100 000 Addressable: 50 000 SEK ~2 BILLION CELLAVISION PENETRATION ANNUAL ADDRESSABLE L MARKET POTENTIAL, SMALL LABS Large Labs ~ 24% SEK ~1 BILLION Small Labs ~ 1% Replacement Cycle
Slide 30: Americas Dynamics and Insights
AMERICAS DYNAMICS INSIGHTS NUMBER OF LABS The Americas region is divided between very mature and # Large Labs ~ 5 000 developing markets # Small Labs: ~25 000 Addressable: ~20 000 North America is dominated by large lab networks highly driven by need for connectivity CELLAVISION PENETRATION Re
Slide 31: EMEA Dynamics and Insights
EMEA DYNAMICS INSIGHTS NUMBER OF LABS The EMEA region contains # Large Labs ~ 5 000 a diverse mix of market maturity & # Small Labs: ~25 000 reimbursement Addressable: ~20 000 structures EMEA has a higher mix of CELLAVISION PENETRATION lab networks and stand- Large Labs ~ 26% alone labs Small La
Slide 32: APAC Dynamics and Insights
APAC DYNAMICS INSIGHTS NUMBER OF LABS The APAC region has the # Large Labs ~ 7 000 largest proportion of price sensitive markets. # Small Labs ~30 000 Addressable: ~10 000 Very low # lab networks and associated need for remote connectivity. CELLAVISION PENETRATION China has highest Large Labs
Slide 33: Global Presence
GLOBAL PRESENCE MARKET SUPPORT ROLE MARKET SUPPORT ORGANIZATIONS BY YEAR END • Create awareness of Digital Cell With 17 organizations for local market support CellaVision has direct presence in more Morphology than 40 countries. • Support distributors • Product experts • Demos/sales presentations •
Slide 34: Small Lab Segment
SMALL LAB SEGMENT EXPLORE EXPAND ACCELERATE MAXIMIZE
Slide 35: Small Lab Segment Expansion
SMALL LAB SEGMENT EXPANSION STAND-ALONE LABORATORIES LABORATORIES IN NETWORKS CellaVision DC-1 makes it possible for small labs to implement the same digital CellaVision DC-1 as part of a network allows the additional methodology now commonly used by large laboratory organizations bringing connectiv
Slide 36: Small Lab Segment Expansion: Slow Start but Now Taking Off
SMALL LAB SEGMENT EXPANSION SLOW START BUT NOW TAKING OFF • Launched Q1 2019 in EMEA • Covid-19 and lock-downs slowed down all 400 % marketing and sales activities, including physical sales meetings • FDA clearence in Q4 2020 • Very strong momentum after 5 quarters • Globally below 1% penetration ra
Slide 37: Small Lab Solution: Three Mutually Supportive Instruments
SMALL LAB SOLUTION: A LINE OF THREE MUTUALLY SUPPORTIVE INSTRUMENTS A SYNERGY AS A RESULT OF THE RAL DIAGNOSTICS AQUSITION SMEAR THE SLIDE STAIN THE SLIDE ANALYZE THE SLIDE The RAL SmearBox enables you to make high-quality The RAL StainBox ensures that all your smears are The CellaVision DC-1 automa
Slide 38: Early Adoption Trends of DC-1 in Small Labs
EARLY ADOPTION TRENDS DC- 1 INTO SMALL LABS STAND-ALONE VS. NETWORKED DC-1 STAND-ALONE VS. NETWORKED DC-1 ALL REGIONS COMBINED BY REGION 46% 71% 31% 100% Networked Stand-alone 46% Networked 54% 80% Stand-alone 60% 40% 0% 20% 40% 60% 80% 100% 69% 54% 20% 29% GLOBAL ADOPTION 0% • Relatively even adopt
Slide 39: Specialty Analyses
SPECIALTY ANALYSES EXPLORE EXPAND ACCELERATE MAXIMIZE
Slide 40: Unmet Needs in the Hematology Lab
UNMET NEEDS IN THE HEMATOLOGY LAB Bone marrow aspirates • Lower volume compared to peripheral blood smears (~10%) • Highly complex analysis • Typically reported out by pathologist, $$$ • Shortage of pathologists • Long turn-around-time (TAT)
Slide 41: Specialty Analyses – An Opportunity
SPECIALTY ANALYSES – AN OPPORTUNITY SPECIALTY ROUTINE ANALYSES PERIPHERAL ADDRESSABLE MARKET OFFERING BLOOD OFFERING • Opportunity for additional instrument sales to: - The large lab segment - Parts of the small/medium segment LARGE LABS NEW PRODUCT LINE • Specialty analyses will be run on new dedic
Slide 42: Widening the Offering in Hematology
WIDENING THE OFFERING IN HEMATOLOGY SMEARING STAINING DEVICES ANALYZERS SPECIALTY RUO ANALYZER ANALYZER CellaVision Proficiency Software CellaVision Remote Review Software BONE MARROW EXPLORE CellaVision CellaVision STAINING REAGENTS Server Software CellAtlas RETICULOCYTES Opportunities in research
Slide 43: Market Specificities and Opportunities
MARKET SPECIFICITIES AND OPPORTUNITIES 1 4 LARGE LAB SEGMENT SPECIALTY ANALYSES Launch a new product line based on the Continue to increase penetration CellaVision DC-1 platform for specialty Develop a specialty analyses analyses product line to provide the customer with a complete Tie the analyses
Slide 44: Market Agenda – Reagents
MARKET AGENDA Julien Veyssy | VP Reagents
Slide 45: Strategic Fit: Devices and Reagents
STRATEGIC FIT DEVICES AND REAGENTS “CELLAVISION DM NEVER MAKES A MISTAKE… SLIDE MAKER STAINER DOES” Henk JANSEN, Morphology expert and former Marketing Manager IVD 1 2 3 Smearing and staining are To derive maximum benefit On the other side, morphology prerequisites for the from CellaVision digital r
Slide 46: Smearing and Staining: An Expert Analysis
SMEARING AND STAINING AN EXPERT ANALYSIS Staining needed to reveal cells Smearing the slide Staining the slide and their content MULTIPLE SUCCESS FACTORS • Length of the smear • Thickness of the smear • Shape of the smear • Without artefacts (staining, dust, holes...) CAUSES OF VARIATION CAUSES OF V
Slide 47: Segments and Path for Development
1 Innovative Methanol-free reagents SEGMENTS AND PATH FOR DEVELOPMENT 2 May Grunwald, Giemsa, Wright, Wright Giemsa, Buffer 1 HEMATOLOGY REAGENTS MARKETS TYPES 2 A C C E L E R AT E H E M AT O L O G Y R E A G E N T S G L O B A L I Z AT I O N • 14% CAGR over the last 5 years • Geographic expansion =>
Slide 48: Market Specificities and Opportunities
MARKET SPECIFICITIES AND OPPORTUNITIES 1 3 Competitive landscape divided Penetration is slowed down by between a global unfocused leader devices renewal cycle. Reagents and local low-end manufacturers change within instrument lifetime is complex. Unique positioning as expert and strategic IVD partne
Slide 49: Unprecedented Focus on Reagents Quality
AN UNPRECEDENTED FOCUS AND COMMITMENT ON REAGENTS QUALITY CHALLENGES FROM AUTOMATION OTHER CHALLENGES Stability of reagents onboard Hazardousness or reagents Consumption and waste generation Regional specificities Soiling and Clogging of devices Supply and Control of raw materials REAGENTS QUALITY U
Slide 50: Committing to Innovation
BUILD COMPETITIVENESS AROUND ANALYTICAL AND DIAGNOSTIC CERTAINTY COMMITTING TO INNOVATION RESEARCH AND DEVELOPMENT focused on offering superior analytical and diagnostic certainty by creating an ecosystem that combines reagents with hardware and software: • Provide more value and create differentiat
Slide 51: Regional Development Roadmap
REGIONAL DEVELOPMENT ROADMAP Sound basis for successful sales expansion through our market support organizations and strong partnerships 1 2 3 EMEA APAC AMERICAS Mature region that demonstrates our Intense marketing efforts to build clinical Long-term work of establishing conditions path to success.
Slide 52: Summary: Accelerate Reagents
SUMMARY ACCELERATE REAGENTS Aspiration - Launch and build leadership in the hematology reagents market across all geographies and lab sizes CellaVision will, step by step, globalize its offering by establishing a production and distribution structure with global capacity and in parallel develop the
Slide 53: Break
BREAK INNOVATION AGENDA Adam Morell | VP Devices & Software FINANCIAL OUTLOOK Magnus Blixt | CFO Q&A CONCLUDING REMARKS Adele Horn | Corporate Communications & Investor relations
Slide 54: Next Focus Area
NEXT OPENING Adele Horn | Corporate communications & Investor relations THE CELLAVISION JOURNEY & STRATEGY FOCUS Simon Østergaard | President & CEO THE VALUE CELLAVISION CREATES AREA Steven Marionneaux | Scientific & Medical Affairs Advisor BREAK MARKET AGENDA Peter Wilson | VP Global Marketing Juli
Slide 55: Innovation Agenda
INNOVATION AGENDA Adam Morell | VP Devices & Software
Slide 56: Analyzing Blood Cells
ANALYZING BLOOD CELLS DIFFERENTIAL COUNT OF WHITE BLOOD CELLS The differential count of white blood cells is an important diagnostic tool and is performed in large quantities. This is the main analysis performed by CellaVision analyzers. During a differential count, a blood smear is examined systema
Slide 57: Cornerstones of Our Technology
INTELLIGENCE CORNERSTONES OF OUR TECHNOLOGY INTERFACE PRECISION Artificial intelligence supports decision making, improving speed and quality Precision mechanics operating with micrometer precision at high speeds Advanced imaging solutions deliver state-of-the-art image quality Easy-to-use interface
Slide 58: Cornerstone: Intelligence
CORNERSTONE INTELLIGENCE 25 YEARS EXPERIENCE DEVELOPING AI EXTENSIVE IMAGE DATABASES FOREFRONT OF AI TECHNOLOGY CellaVision has over 25 years of experience CellaVision has extensive image databases. The The company’s analyzers have evolved alongside developing AI and machine learning solutions. AI i
Slide 59: Cornerstone: Precision
CORNERSTONE PRECISION SMALL OBJECTS REQUIRE EXACT POSITIONING Blood cells are very small — a red blood cell is 7 µm in diameter and white blood cells are 10–20 µm — so horizontal positioning must be exact within a few micrometers. Furthermore, the focus depth is about 0.6 µm, and therefore even the
Slide 60: Cornerstone: Imaging
INTELLIGENCE CORNERSTONE IMAGING HIGH RESOLUTION IMAGES The analyzers deliver images at a resolution right at the brink of what is possible with visible light. The wavelength of light is equal to about 5 pixels in the images. The downside of the extreme resolution is the very limited focus depth (0.
Slide 61: Cornerstone: Interface
CORNERSTONE INTERFACE Our applications present the results of the pre-classified cells in a user-friendly way to guide and assist the laboratory staff through the process of reviewing the blood cells. The same familiar interface is used for all analyzers. Efficient workflow and smart tools further f
Slide 62: Exploring the Generations
EXPLORING THE GENERATIONS FIRST SECOND THIRD FOURTH GENERATION GENERATION GENERATION GENERATION Off-the-shelf components CellaVision mechanics CellaVision optics CellaVision camera DiffMaster Octavia DM96 & DM8 DM1200, DM9600 & DI-60 DC-1 platform ANALYSIS OF WHITE BLOOD CELLS ANALYSIS OF BODY FLUID
Slide 63: Specialty Segment
EXPAND SPECIALTY SEGMENT DC-1 CURRENT ANALYSES • Peripheral blood • Digital slide The proven CellaVision DC-1 platform is well suited to deliver new applications for specialty analyses. EXAMPLES OF SPECIALTY ANALYSES • Fetal red blood cells count (Kleihauer–Betke) Measure the amount of fetal hemoglo
Slide 64: Bone Marrow
EXPAND BONE MARROW ANALYZING BONE MARROW Bone marrow aspiration analysis can show if your bone marrow is healthy and produces normal amounts of blood cells. This procedure is used to diagnose and monitor blood and bone marrow diseases. BLOOD CELL DEVELOPMENT In the bone marrow the process of blood c
Slide 65: Bone Marrow: Technical Challenges
EXPAND BONE MARROW TECHNICAL CHALLENGES It is more challenging to automate the analysis of a bone marrow sample than peripheral blood. The image analysis is more complex and the whole bone marrow sample must be examined. DETECTING ANALYSIS AREAS The analysis is performed close to the bone marrow par
Slide 66: Limitation of Microscopy
LIMITATION OF MICROSCOPY MAGNIFIED IMAGE FROM 10x LENS WITH LESS DETAILS Using traditional microscopy one can get either: • large area with less details, or • small area with more details. Several different objective lenses are used to cover different needs. 10x LENS 40x LENS
Slide 67: Exploring Fourier Ptychography Microscopy
EXPLORING FOURIER PTYCHOGRAPHY MICROSCOPY FPM LOW DETAILED IMAGE ACQUIRED USING A 20 x LENS 40x DETAILS WITH 10x LENS Fourier Ptychography Microscopy (FPM) breaks the limitations of microscopy! FPM combines a large area and high resolution. FPM was developed at California Institute of Technology and
Slide 68: The FPM Principle
THE FPM PRINCIPLE • Turn on one LED at a specific angle. DETECTOR • Capture an image. • Turn off the LED and turn on another LED at a specific angle. • Capture an image. • Repeat until images illuminated from all desired angles have been captured. • Use FPM algorithms to combine all MICROSCOPE image
Slide 69: Opportunities with the FPM Technology
OPPORTUNITIES WITH THE FPM TECHNOLOGY FASTER SCANNING The sample can be captured using fewer positions but still with a high level of detail. 10x vs 40x WIDER DEPTH OF FOCUS High-resolution scanners have narrow depth of focus → Only a part of a thick sample is in focus at once. → Multiple layers are
Slide 70: CellaVision Technology Key Take Aways
CELLAVISION TECHNOLOGY KEY TAKE AWAYS WORLD LEADER IN DIGITAL HEMATOLOGY CellaVison is the market leader in the field of digital microscopy. Our strength lies in our ability to combine the power of artificial intelligence, precision mechanics, and state-of-the-art image quality with easy-to-use inte
Slide 71: Next Focus Area
NEXT OPENING Adele Horn | Corporate communications & Investor relations THE CELLAVISION JOURNEY & STRATEGY FOCUS Simon Østergaard | President & CEO THE VALUE CELLAVISION CREATES AREA Steven Marionneaux | Scientific and medical affairs advisor BREAK MARKET AGENDA Peter Wilson | VP Global Marketing Ju
Slide 72: Financial Outlook
FINANCIAL OUTLOOK Magnus Blixt | CFO
Slide 73: Long-Term Growth
SHAREHOLDER VALUE CREATION VIA SUSTAINABLE AND PROFITABLE LONG-TERM GROWTH NET SALES, SEKM Financial targets EBITDA MARGIN, % 600 40 15% >30% 35 500 30 MARGIN% % 400 25 EBITDA MARGIN 20 300 sales growth EBITDA margin per year EBITDA 15 200 10 5 100 0 0 2017 2018 2019 2020 2021 Instruments Reagents S
Slide 74: Financial Development
FINANCIAL DEVELOPMENT MSEK Q1 2022 Q1 2021 FULL YEAR 2021 Net sales 162 134 566 Organic growth 15% 7% 24% Gross margin 71% 69% 69% Operating expenses/sales 41% 41% 41% EBITDA 59 46 196 EBITDA margin 36% 34% 35% R&D spend/sales 17% 18% 18% Total cash flow 15 9 27 POSITIVE OBSERVATIONS CHALLENGES • Al
Slide 75: Market Expansion and Growth
MARKET EXPANSION AND GROWTH Annual addressable market increase from 2 to 5 billion within hematology EXPLORE EXPAND ACCELERATE MAXIMIZE LARGE LABS SMALL-MEDIUM REAGENTS SPECIALTY NEW AREAS LABS ANALYSIS SEK 2 BILLION SEK 1 BILLION SEK 1 BILLION SEK 1 BILLION TO BE DEFINED
Slide 76: Scalable Business Model for Profitability
SCALABLE BUSINESS MODEL FOR PROFITABILITY 40% INDIRECT SALES MODEL 35% • Global reach through distribution partners 30% • Market support organization with knowledge to support all product lines EXPENSES AS % OF SALES 25% GLOBAL PRODUCT OFFERING 20% • Homogenous product offering on all geographical m
Slide 77: Maximize Large and Accelerate Small & Mid-Sized Instruments
MAXIMIZE LARGE AND ACCELERATE SMALL & MID-SIZED INSTRUMENTS Yearly market SEK 3 billion INSTRUMENTS product offering 900 INDICATIVE • Instruments 800 • Software (remote review, ARBC, proficiency etc.) • Spare parts & consumables 700 600 CAGR SALES / MSEK Large instruments ~15% 500 • CellaVision base
Slide 78: Accelerate Reagents
ACCELERATE REAGENTS Yearly market SEK 1 billion PRODUCT OFFERING SALES MODEL 200 REAGENTS • Hematology product reagents (doubleoffering digit • Indirect sales model (distributors) INDICATIVE growth) • Recurring sales • Hematology reagents (double digit growth) • Other reagents (single digit growth)
Slide 79: Expand into Specialty Analyses
EXPAND INTO SPECIALTY ANALYSES Annual market SEK 1 billion SPECIALTY product offering INDICATIVE • Instrument • Software • Reagents SALES / MSEK • Specialty product offering is under development • Gradual market introduction over the strategic horizon • Complementing high volume workflow in large la
Slide 80: Summary of Strategy – Market Expansion and Growth
SUMMARY OF STRATEGY – MARKET EXPANSION AND GROWTH Key financial messages > 1 billion • Addressable market grows from 2 to 5 billion • Sales grow from SEK 0.6 to > 1 billion • Scalable business model for high profitability • Capital allocation: investment, dividend and CAGR ~15% acquisitions 0.6 bill
Slide 81: CellaVision
CELLAVISION
Slide 82: Concluding Remarks
CONCLUDING REMARKS Adele Horn | Corporate Communications & Investor relations
Slide 83: Key Takeaways
KEY TAKEAWAYS CellaVision has paved the way for digitalizing and automating blood analyses as the #1 market leader Given the market opportunities, our profound capabilities and financial strength, time is right to invest further CellaVision will lead and invest in the evolution of microscopy Our Pow
Slide 84: The Power of Focus
THE POWER OF FOCUS ENHANCING THE FUTURE OF MICROSCOPY CAPITAL MARKETS DAY 2022