Advanced Medical Solutions Group Plc · LSE:AMS
Advanced Medical Solutions — H1 2021 Earnings Presentation
21 slides from Advanced Medical Solutions's earnings presentation, Sep 15, 2021
Slide 1: A world-leading company in surgical and woundcare innovation
A world-leading company in surgical and woundcare innovation Interim Results for the six months ended 30 June 2021 15 September 2021
Slide 2: Financial Highlights
Financial Highlights - Revenue increased 28% to £50.2 million (2020 H1: £39.3 million) and adjusted profit before tax rose 133% to £12.4 million (2020 H1: £5.3 million) despite residual COVID-19 impact on elective surgery volumes - Net cash increased to £61.1 million (2020 YE: £53.8 million) Strong
Slide 3: Operational Highlights (incl. post period end)
Operational Highlights (incl. post period end) - Strong US LiquiBand® growth supported by launch of LiquiBand® Rapid™ - Submission of LiquiBand® XL 510(k) with approval on track for the end of 2021 - US trial to support LiquiBandFix8® PMA progressing well Significant regulatory and - Seal-G® and Sea
Slide 4: Product Progress: LiquiBand®
Product Progress: LiquiBand® LiquiBand® US – Strong growth driven by end sales demand and partners replenishing inventory levels – Successful commercial launch of LiquiBand® Rapid supporting brand sales growth – LiquiBand® XL on track for approval by the end of 2021, allowing entry in to the growing
Slide 5: Product Progress: LiquiBand Fix8®
Product Progress: LiquiBand Fix8® LiquiBand Fix8® US – The clinical trial for US Pre-Market Approval process is progressing well – Patient procedures complete for clinical module – 2 of 4 sections of PMA completed and approved – PMA submission on track for 2022 following 12- month patient follow up
Slide 6: Product Progress: Sealantis
Product Progress: Sealantis Regulatory approval – CE mark approval for Seal-G® MIST (laparoscopic), and an extension of existing Seal-G® (open) CE mark granted Clinical studies – First human clinical study of Seal-G® and Seal-G® MIST interim results expected in early 2022 – Additional trials in prep
Slide 7: Product Progress: Biosurgical Devices
Product Progress: Biosurgical Devices Collagens – First 510(k) submission expected in 2022 allowing entry into US dental space – Ongoing work towards wider approvals for antibiotic loaded collagens, including pacemaker pouch Biomatlante® – RESORBA branded bone substitutes range launched into Germany
Slide 8: Product Progress: Woundcare
Product Progress: Woundcare Regulatory and R&D progress – Enhanced 510(k) approval for Silver High Performance Dressing with anti-microbial indication – Upcoming 510(k) submissions: – For new woundcare tissue scaffold to enter the US skin scaffold market – For antimicrobial anti-biofilm high gelling
Slide 9: Licensing and Acquisitions Strategy
Licensing and Acquisitions Strategy - Our selection criteria: - Surgically-focused companies with product synergies, strong R&D capability and proprietary products - Products or technologies that enable AMS to AMS continues to seek leverage its Woundcare customer base or accretive acquisitions with
Slide 10: Key Appointments
Key Appointments Chief Technology Officer - Chris Locke appointed to the new position of CTO - Role will take full responsibility for all innovation, research, development and technology assessments for the Group Strengthening of senior management team and New Non-Executive Director Board - Douglas
Slide 11: Financial Summary
Financial Summary
Slide 12: Financial Overview
Financial Overview - Continued recovery of the business as AMS product demand returns towards normal levels - Residual COVID-19 impacts on elective surgery volumes and access to hospitals continue to restrict some business development activities - Increase in volumes driving a significant increase i
Slide 13: H1 2021 Operating Margins
H1 2021 Operating Margins £M Surgical Business Unit Surgical 35.0 32.4% 35.0% 30.0 30.0% - Higher volumes resulted in greater 25.0 25.0% operational leverage 14.1% 20.0 20.0% - Strong US LiquiBand® sales 15.0 30.4 15.0% 10.0 21.4 10.0% provided a positive mix benefit vs 5.0 9.9 5.0% prior period 0.0
Slide 14: H1 2021 Results: Surgical
H1 2021 Results: Surgical Revenue up 45% to £30.4 million (H1 2020: £21.4 million) Surgical Revenue Advanced Closure – LiquiBand® 35,000 - Revenue up 79% to £15.2 million (H1 2020: £8.9 million) 30,000 - Strong end sales demand and inventory replenishment by some US partners 25,000 Internal Fixation
Slide 15: H1 2021 Results: Woundcare
H1 2021 Results: Woundcare Revenue up 13% to £19.8 million (H1 2020: £17.9 million) Woundcare Revenue Infection Management 25,000 - Revenue down 5% to £6.7 million (H1 2020: £7.3 million), impacted by lack of orders from exclusive Silver Alginate 20,000 agreement which ended in December 2020 - New f
Slide 16: Revenue by Product
Revenue by Product HY 2021 YoY GROWTH % (constant currency) 16
Slide 17: Cash Flow Summary
Cash Flow Summary H1 2021 H1 2020 £ million £ million Profit from operations 11.1 4.4 Depreciation and Amortisation 4.1 3.3 Working capital movements (0.5) 3.6 Share-based payments expense 0.9 0.8 Taxation (1.9) (3.3) Net cash inflow from operating activities 13.7 8.8 Capital expenditure and capital
Slide 18: Newsflow, Summary and Outlook
Newsflow, Summary and Outlook
Slide 19: Anticipated Newsflow to 2022*
Anticipated Newsflow to 2022* Full EU launch of Submission of US Seal-G® MIST and PMA for Seal-G® devices LiquiBandFix8® First commercial sales First 510(k) submission of Seal-G® MIST and of collagen in a dental Seal-G® devices US approval of LiquiBand® XL application Q4 2021 2022 510(k) submission
Slide 20: Summary and Outlook
Summary and Outlook - Strong growth reported as markets start to recover from impact of COVID-19 - US LiquiBand® franchise performing well, supported by LiquiBand® Rapid, with further boost expected from LiquiBand®XL - Trading continues to progress well with strong Full R&D pipeline and demand in Q3
Slide 21: Contact Us
Contact Us Advanced Medical Solutions Group plc Premier Park, 33, Road One Winsford Industrial Estate Winsford, Cheshire CW7 3RT, UK Chris Meredith Chief Executive Officer Eddie Johnson Chief Financial Officer Michael King Investor Relations corporate@admedsol.com +44 (0)1606 863 500 www.admedsol.co
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