Slide 1: Result presentation Q2/2020
27 August 2020, Seppo Kopsala, CEO / Lars Lindqvist, CFO Result presentation Q2/2020
Slide 2: Highlights
Highlights
Slide 3: Highlights
Deliveries to a major Chinese Devices segment’s revenue 1. customer resumed in June 4. decreased due to Covid-19 Active measures supported Long term prospects remain 2. 5. unchanged in spite of the Highlights EBITDA when revenue declined pandemic Solid software segment The outlook 2020 3. performanc
Slide 4: Focus areas
Focus areas China: • Deliveries to our major Chinese customer resumed • A Chinese medical device regulatory approval (CFDA) for a new camera product was received USA: • The US market entry is progressing as planned • The scope and speed of the entry are continuously adjusted to reflect the current C
Slide 5: COVID-19 Coronavirus
COVID-19 Coronavirus • COVID-19 Coronavirus pandemic continues • What does it mean to Optomed: • Devices segment sales continue to be affected as the market standard sales model is face-to-face: adjusting to virtual sales efforts • OEM customers have decreased their inventories by postponing orders:
Slide 6: Q2/2020 Financial highlights (KEUR)
Q2/2020 Financial highlights (KEUR) Q2/2020 Q2/2019 Change Revenue 2,597 3,858 -32.7% Gross profit 1) 1,907 2,647 -28.0% Gross margin 2) 73.4% 68.6% 4.8 bps Adjusted EBITDA -325 85 -483.7% Adjusted EBITDA margin -12.5% 2.2% -10.3 bps Net profit/ loss -976 -987 1.1% Earnings per share -0.08 -0.11 24.
Slide 7: H1/2020 Financial highlights (KEUR)
H1/2020 Financial highlights (KEUR) H1/2020 H1/2019 Change Revenue 5,631 7,097 -20.7% Gross profit 1) 3,884 5,165 -24.8% Gross margin 2) 69.0% 72.8% 3.8 bps Adjusted EBITDA -900 177 -607.6% Adjusted EBITDA margin -16.0% 2.5% -18.5 bps Net profit/ loss -2,226 -1,561 -42.5% Earnings per share -0.19 -0
Slide 8: Devices segment highlights
Devices segment highlights
Slide 9: Devices segment highlights
COVID-19 affects the revenue as Q2/2020 Q2/2019 Change 1. the market standard sales model is face-to-face and OEMs have decreased their inventories Devices segment highlights Revenue 848 2,078 -59.2% Deliveries to a major Chinese 2. customer resumed in June and Gross profit 543 1,324 -58.9% are expe
Slide 10: Software segment highlights
Software segment highlights
Slide 11: Software segment highlights
Stable recurring business with the current customer Q2/2020 Q2/2019 Change 1. base continues to protect the segment’s revenue Software segment highlights Revenue 1,749 1,780 -1.8% Postponements in DR screenings, other examinations 2. and deliveries of new eye Gross profit 1,363 1,323 3.0% screening
Slide 12: Outlook 2020
Outlook 2020 OPT@MED
Slide 13: Outlook 2020
Outlook 2020 We continue to progress our expansion towards the US market and grow our international distributor network. Additionally, we are currently investing in the development of our first fully integrated AI camera with expected commercial launch during 2020. Optomed expects its revenue to dec
Slide 14: Financial targets
Financial targets Revenue Growth Adjusted EBITDA Optomed’s medium-term target is to deliver Optomed’s target is to prioritise a double-digit annual organic revenue investments in the organisation to growth. In the long-term Optomed’s target support growth in the medium-term and is to deliver an aver
Slide 15: Balance sheet
Balance sheet 30.6.2020 30.6.2019 Balance sheet ASSETS Goodwill 4,256 4,256 Development costs 5,273 5,230 • Equity ratio of 66.0 (31.2) percent Other intangible assets 2,999 3,260 Total intangible assets 12,528 12,746 • Total borrowings of EUR 6.6 (10.0) Total tangible assets 1,259 1,489 million. EU
Slide 16: Cash flow
Q2 2020 Q2 2019 Cash flow Loss for the financial year -976 -987 Cash flows before change -254 -33 • Cash flow from operating activities in net working capital amounted to EUR 0.1 (-0.8) million Change in net working capital 393 -665 Cash flows before finance items 139 -698 • Net cash from financing
Slide 17: Optomed's mission is to prevent blindness
“ Optomed’s mission Expansion into new geographical markets is to prevent blindness by improving access to eye screening globally Opening new customer segments: primary care Bringing AI-integrated health screening to the market
Slide 18: Appendix
Appendix OPT@MED
Slide 19: Devices Segment H1/2020 financials
Devices Segment H1/2020 financials H1/2020 H1/2019 Change % Revenue 1,822 3,288 -44.6% Gross profit 940 2,319 -59.5% Gross margin 51.6% 70.5% -18.9 bps EBITDA -542 -85 -534.1% EBITDA margin -29.7% -2.6% -27.1 bps
Slide 20: Software Segment H1/2020 financials
Software Segment H1/2020 financials H1/2020 H1/2019 Change % Revenue 3,809 3,809 0.0% Gross profit 2,944 2,846 3.5% Gross margin 77.3% 74.7% 2.6 bps EBITDA 847 764 10.9% EBITDA margin 22.2% 20.1% 2.1 bps
Slide 21: Cash flow H1/2020
Cash flow H1/2020 H1 2020 H1 2019 Loss for the financial year -2,226 -1,561 Cash flows before change in net working capital -763 -57 Change in net working capital -1,819 -1,111 Cash flows before finance items -2,582 -1,168 Cash flows from finance items -232 -141 Net cash from operating activities -2
Slide 22: Optomed Plc. contact details
Optomed Plc. Yrttipellontie 1, 90230 Oulu, Finland Tel: +358 20 741 3380 • investors@optomed.com www.optomed.com