Sedana Medical Ab · OMXSTO:SEDANA
Sedana Medical Ab — Q1 2024 Earnings Presentation
18 slides from Sedana Medical Ab's earnings presentation, Apr 25, 2024
Slide 1: Q1 2024 Report
Q1 2024 Report Johannes Doll, CEO Johan Spetz, CFO April 25, 2024 <
Slide 2: Disclaimer
Disclaimer Forward-looking statements This presentation may contain certain forward-looking statements and forecasts based on uncertainty, since they relate to events and depend on circumstances that will occur in the future and which, by their nature, will have an impact on Sedana Medical’s busines
Slide 3: Q1 Highlights: strong progress on all three priorities
Q1 Highlights: during the quarter, we have made strong progress on all three of our priorities Our 3 priorities Achieve growth in our Reach break-even ex- Make headway ex-US business US during 2024 towards US approval • All-time high quarterly net • Gross margin of 71% (73%) • Enrolment of INSPIRE I
Slide 4: Sedana Medical has returned to a strong growth path
Sedana Medical has returned to a strong growth path Net sales SEK million Comments • Covid-19 resulted in a Guidance range (14-18% growth1) trend-break in the long- 159 154 term sales development 142 • Lower sales in 2022 due to 123 a significant decline in ventilated ICU patients (both Covid and no
Slide 5: At the same time, we have significantly improved our bottom line
At the same time, we have significantly improved our bottom line Net Sales 2022 2023 2024 Key profitability MSEK measures • Implemented front- 45 49 line effectiveness 34 36 38 37 34 initiatives 27 27 • Streamlined Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 corporate headquarters EBITDA 2022 2023 2024 • Improved ov
Slide 6: Germany continued to show strong growth, despite an 8% decline of ICU patients
Germany continued to show strong growth, despite an 8% decline of ICU patients Ø number of ICU patients Q1 Net Sales Q1 2024 Per day, per ICU1 MSEK Comments • In Q1, the number of patients in German intensive care units saw a 14,4 29,8 further decline of 8% vs. the 13,2 -8% previous year, driven mos
Slide 7: Other direct markets continued on their strong growth trajectory
Other direct markets continued on their strong growth trajectory Net Sales Q1 2024, MSEK Comments • Among other direct markets, Spain continued to be the main growth engine in absolute terms, 14,0 fuelled by new treatment guidelines and pricing & reimbursement approval +55% • UK to has seen a signif
Slide 8: Distributor markets saw first order from main South American partner since 2022
Our distributor markets saw the first order from our main South American partner since 2022 Net Sales Q1 2024, MSEK Comments • Distributor markets showed YoY growth for the second quarter in a row after a long period of 5,0 declining sales. Main reason for the previous decline was high stock levels
Slide 9: We see the company well on track to reach our financial targets
We see the company well on track to reach our financial targets Net Sales FY 2024 Communicated target: Status: 14-18% 28% in Q1, Net Sales growth (excl. fx) putting us well on track to meet our targets. EBITDA Communicated target: Status: Break-even +1.6 MSEK in Q1, in our ex-US EBITDA helped by a p
Slide 10: The United States represent our next growth horizon
The United States represent our next growth horizon Market Strategy Time plan • The United States have • Build in-house • NDA submission a market potential of commercial planned Q1 2025, 10-12 BSEK (vs. 3-4 infrastructure for standard review time is BSEK in today’s direct launch 10 months markets) •
Slide 11: Our US clinical program is approaching enrolment completion
Our US clinical program is approaching enrolment completion • Two identical phase III studies to confirm Enrolment countdown the efficacy and safety of inhaled isoflurane Randomized patients remaining delivered via Sedaconda ACD, compared to IV (target: 235 each) propofol, for sedation of adult me
Slide 12: 31 sites are enrolling in our US trials
31 sites are enrolling in our US trials – building a strong platform for KOL engagement and launch success INSPiRE-ICU1 INSPiRE-ICU2 • Vanderbilt • Rush University • University of Colorado • Columbia University • Cleveland Clinic • Massachusetts General Hospital • UT Southwestern • University of Mic
Slide 13: High attendance at Q1 events covering inhaled sedation
High attendance at Q1 events covering inhaled sedation • Symposium Intensivpflege & Intensivmedicin Bremen • SEDUCI Barcelona • ISICEM Brussels • Sedaconday Madrid • Web symposium Mexico • London Critical Care Technologists’ & Scientists’ meeting 13 <
Slide 14: Financial result in Q1 2024
Financial result in Q1 2024 Net sales (MSEK, 12m rolling) Net sales Q1’24: 49 (38) MSEK, +29% y/y (+28% excl. fx) 180 • Sales in Germany increased by 18% y/y (17% excl. fx), driven by a mix 160 of growth from existing and new/re-activated customers. 140 • Other direct markets showed growth of 55% y/
Slide 15: Cash flow, cash balance and short-term deposits
Cash flow, cash balance and short-term deposits Change in cash position (MSEK) excl 2021 cap. raise and short-term deposits • Cash and short-term deposits per March 31 2024: 361 MSEK 40 compared to 382 MSEK at the beginning of the quarter. Decrease 20 driven by investments in capitalized development
Slide 16: Largest shareholders March 31, 2024
Largest shareholders March 31, 2024 16 <
Slide 17: Investment case - why Sedana Medical?
Investment case - why Sedana Medical? High gross Proof of Growth Strong balance margins concept opportunities sheet GM, in percent Cash end of Q1 67 70 71 71 In SEK 63 361M 2020 2021 2022 2023 2024 YTD • Robust gross • Majority of German • Clinical benefits vs. • Financed to execute margins of our I
Slide 18: Q&A
6 sedanamedical Q&A