Medmix Ag · SIX:MEDX
Medmix — January 2024 equities conferences (January 09-10 2024)
33 slides from Medmix's conference presentation, January 2024
Slide 1: Investor Presentation
Investor Presentation January 2024 Providing innovative solutions to help people live healthier and more confident lives medmix CONFIDENTIAL
Slide 2: Disclaimer / Safe harbor statement
Disclaimer / Safe harbor statement under the US private securities litigation reform act 1995 This presentation contains forward-looking statements that are based on management’s current assumptions and expectations concerning future developments, including but not limited to, projections of financi
Slide 3: Our company in 2022 at a glance
Our company in 2022 at a glance A significant global player Global footprint with 477m CHF 15 ~2.4bn production, logistics revenues & distribution sites products sold every year ~2,600 ~900 22% adj. EBITDA employees active patents margin 3
Slide 4: Our aspiration, mission and vision
Our aspiration, mission and vision Delivering innovation. Inspiring confidence. ASPIRATION Be the global leader in high-precision delivery devices for the healthcare, consumer and industrial end markets MISSION Provide innovative solutions to help millions of people live a healthier and more confide
Slide 5: Our corporate values
Our corporate values Customer Focus Trust and We develop, manufacture and Teamwork market products and solutions We build trust by an that meet our customers’ open, honest, and needs more effectively than effective collaboration the competition with each other Sustainable Quality and Innovation Acco
Slide 6: Our strategy and business model
Our strategy and business model Innovative, high-precision delivery devices in attractive Healthcare, Consumer and Industrial end markets • Attractive and resilient B2B niche markets Niche • Exciting underlying macro growth trends leader • Fragmented competitive landscape • Leverage trends across se
Slide 7: Our core competencies
Our core competencies Delivering innovation. Inspiring confidence. precision mixing sustainability innovation solutions digital filling quality 7
Slide 8: Our business areas and market segments
Our business areas and market segments Award-winning, market-leading portfolio Healthcare Business Area (BA) Consumer & Industrial (C&I) BA Drug Dental Surgery Industry Beauty Delivery % split of revenues1 25% 10% 3% 32% 30% Gold standard in dental Award winning, Pioneer in bone cement Leader in ind
Slide 9: Our attractive end market fundamentals
Our attractive end market fundamentals Market segment growth underpinned by macro trends Market growth forecast post Macro trends recovery to 2027E (CAGR)1 Main segment trends • Aging population Dental Growing middle-class market 2% • Emerging markets shift away from hand- to device-mixing • Trend t
Slide 10: Our disciplined M&A approach focused on Healthcare
Our disciplined M&A approach focused on Healthcare China focus on local-for-local and regional expansion M&A focus – Healthcare M&A focus – China § Small to mid-sized companies in adjacencies Niche § Shanghai production facility focusing on export and leader international OEMs distributing in China
Slide 11: Our outstanding M&A track record
Disposable plastic Drug delivery 2023 mixers based on devices with Our outstanding M&A track record Bone cement and SMX, X-Grid or helix geometry own-IP 2022 biomaterial delivery 2020 Two decades of successful integrations devices used during surgeries Haselmeier Acquisition 2020 of Qiaoyi Dental hi
Slide 12: Focus on Drug Delivery
Focus on Drug Delivery Key driver of medmix’ future growth • Strong growth since Haselmeier acquisition in 2020, re-positioning towards higher volumes • Establish Haselmeier as preferred partner for our customers and their patients • New autoinjector platform PiccoJect™ with distinct competitive adv
Slide 13: Drug Delivery products and services
Drug Delivery products and services Fulfilling all customer and patient needs Injection Pens Autoinjectors Digital Solutions Services Customization: Design & Development Regulatory Affairs & Quality Support Final Assembly & Packaging 13 13
Slide 14: D-Flex™ injection pen
D-Flex™ injection pen Unique disposable pen delivering only intended doses One fixed or Visual feedback Only the intended several fixed-doses during injection and dose(s) can be set in just one pen at dose completion Fast adaptation: Assisted injection to Connectivity Only one element reduce necessa
Slide 15: PiccoJect™ autoinjector
PiccoJect™ autoinjector Customer benefit Next generation device with unique competitive advantages Patient benefit Only 8 parts Large wrap-around Ergonomic shape in total drug window and small size Committed to Two audible sustainability clicks Connectivity Colored status Optimized enabled indicator
Slide 16: High patient preference for PiccoJect™
High patient preference for PiccoJect™ Confirmed by our human factor studies 92% 83% 75% 96% overall preference rated drug window preferred the wide expressed very high for PiccoJect™ visibility as cross-section willingness for superior daily use “It is really easy, since my stroke, my “Very easy, m
Slide 17: Business Review
Business Review 17
Slide 18: 2023 business highlights
2023 business highlights Solid underlying business momentum restrained by transitory factors • Drug Delivery, Surgery and Beauty with strong double-digit organic growth • Dental customer destocking after post-covid recovery, ongoing thru 2023 as customers optimized supply chains, taking inventories
Slide 19: First-half 2023 financial highlights
First-half 2023 financial highlights Recovery underway Healthcare Adjusted Revenues EBITDA Group Revenues 49.7 89.2 248.1 -17% vs. H1 2022 +10% vs. H2 2022 -11% vs. H1 2022 +10% vs. H2 2022 +1% vs. H1 2022 Industry +12% vs. H2 2022 Market Segment Consumer & Business Area Industrial Revenues New Plan
Slide 20: Market segment revenues and organic growth
Market segment revenues and organic growth Healthcare Business Area (BA) Consumer & Industrial (C&I) BA Drug Dental Surgery Industry Beauty Delivery FY ‘22 125.1 +6% 47.0 +21% 12.8 +1% 148.2 -8% 144.1 +19% H1 ‘23 53.7 -24% 26.9 +18% 8.6 +28% 72.7 -8% 86.3 +30% ( +1% vs. H2 2022 ) ( +21% vs. H2 2022
Slide 21: Industry production recovery
Industry production recovery Everything everywhere all at once Mitigating (from April 2022) Relocating (from July 2022) Customer loyalty and trust Task force meeting 3x / week Future-proofing (from now) Relocation team identifying Intensive sales planning processes, personnel, plant Showcase Industr
Slide 22: Grand opening of new Industry plant in Valencia
Grand opening1 of new Industry plant in Valencia From empty shell to functioning factory in just six months 1 (Grand opening ceremony with key customers and local dignitaries on November 23, 2023) 22
Slide 23: New Industry plant in Valencia now fully operational
New Industry plant in Valencia now fully operational Full product availability after just 12 months 23
Slide 24: ESG at medmix in H1 2023
ESG at medmix in H1 2023 Sustainability-focused innovation | New gender equality initiative medmix Group Beauty Industry • 70% reduction vs. 2019 achieved in medmix-own1 carbon footprint • Accepted into UN Global Compact • Signatories to 7 UN Women’s • New sustainable shadow • Launch in June 2023 of
Slide 25: Financial Review
Financial Review Half-year 2023 25
Slide 26: Group, Business Area and Market Segment revenues
Group, Business Area and Market Segment revenues Good progress made after dip in second-half 2022 90 90 250 200 75 75 • Group revenues 150 60 60 almost matching 100 45 45 H1 2022 record... • ...with double-digit 30 30 50 15 15 0 H1'19 H2'19 H1'20 H2'20 H1'21 H2'21 H1'22 H2'22 H1'23 0 0 sequential or
Slide 27: Key performance indicators
Key performance indicators Stalled growth, adverse mix and high capex depress KPIs in short term H1’23 vs. H1’22 vs. H2’22 • Organic Group revenues slightly up Revenue 248.1 -1.0% +9.5% • Lower volumes in Dental and Organic revenue growth – +1.3% +12.2% Industry weighing on gross profit BA gross pro
Slide 28: Healthcare BA gross profit
Healthcare BA gross profit Ongoing Dental destocking effect • Dental segment (60% of revenues) 60 driving Healthcare gross profit • Lower profitability over past 12 months 45 due to Dental destocking • Gross profit recovery in H1 2023: 30 -15% year-on-year, -200 bps +10% vs. H2 2022, +160 bps 15 • D
Slide 29: Consumer & Industrial BA gross profit
Consumer & Industrial BA gross profit Profit improving ahead of Spain ramp-up • Value-added Beauty innovations 60 supporting H1 2023 BA gross profit: -3% year-on-year, -350 bps 45 +11% vs. H2 2022, +20 bps • Future profit recovery primarily from 30 Industry market segment: Volume- and capacity-led 1
Slide 30: Adjusted Group EBITDA
Adjusted Group EBITDA Increasing sequential EBITDA with margin held steady • EBITDA down vs. H1 2022 but up vs. 60 H2 2022 with margin held steady: 26% -17% year-on-year, -400bps 45 22% +10% vs. H2 2022, ±0 bps • H1 2023 impacted by lower Dental 30 18% volumes, limited Industry capacity 15 • Improve
Slide 31: Outlook
Outlook 31
Slide 32: Outlook
Outlook Full-year 2023 guidance1 confirmed, longer-term outlook intact • Organic revenue growth broadly flat • Adjusted EBITDA margin of between 19% and 20% Guidance revised due to delays in Dental segment, with above-average influence on results - Dental inventories along value chain reduced to bel
Slide 33: Your Investor Relations contact
Your Investor Relations contact James Amoroso Investor Relations, medmix Phone: +41 41 723 73 57 E-mail: investorrelations@medmix.com medmix Group AG Neuhofstrasse 20 6340 Baar Switzerland 33
medmix — January 2024 equities conferences (January 09-10 2024) on 6ix