Microport Scientific Corp. · HKEX:853
Microport Scientific — H1 2017 Earnings Presentation
22 slides from Microport Scientific's earnings presentation, 2017
Slide 1: MicroPort 2017 1H Earnings Release
MicroPort 2017 1H Earnings Release
Slide 2: Disclaimer
Disclaimer •This document is for information purposes only and does not constitute or form part of any offer or invitation to sell or the solicitation of an offer or invitation to purchase or subscribe for any securities of MicroPort Scientific Corporation, and no part of it shall form the basis of,
Slide 3: Agenda
1. Interim Results Highlights 2. Financial Review 3. Business Review 4. Appendix • Financial Statements
Slide 4: Interim Results Highlights
Financial Results Business Highlights Revenue: $ 217M, 13% YOY↑ Revenue Net Profit Fastest organic growth in 5 years Net profit: $ 20.6M, 272% YOY↑ $217M $20.6 M Tripling 1H 2016 net profit Exceeding 2016 FY net profit Underpinned by robust revenue of key segments and core products +13%
Slide 5: Financial Review
1. Interim Results Highlights 2. Financial Review 3. Business Review 4. Appendix • Financial Statements
Slide 6: Consolidated Financial Performance
Consolidated Financial Performance Revenue Gross Profit Margin USD: million USD: million USD: 199 217 USD: 4 percentage points 73% million Non-Ortho +13% million Ortho 109 91 +24% Excl.FX 69% 107 +3% 109 2016 1H 2017 1H 2016 1H 2017 1H Group revenue up 13% excl. FX, 10% as reported Gross Margin impr
Slide 7: Operating Expenses
Operating Expenses Sales and Marketing Expenses Administrative Expenses Research and Develop. Expenses USD: million USD: million USD: million 31.2% 16.0% 12.2% 29.3% 11.8% 14.4% 3% 1% 6% 62.0 63.7 31.7 31.3 25.7 24.2 2016 1H 2017 1H 2016 1H 2017 1H 2016 1H 2017 1H S&M % of sales G&A % of sales R&D %
Slide 8: Cashflow Summary
Cashflow Summary Net Cashflow from Net Cashflow used in Net Cashflow Operating Activities Investing Activitis USD: million USD: million USD: million 7m 1m 53m 31 36 42 35 36 (22) 2016 1H 2017 1H 2016 1H 2017 1H 2016 1H 2017 1H Net operating cash inflow Net investing cash outflow Net cashflow t
Slide 9: Business Review
1. Interim Results Highlights 2. Financial Review 3. Business Review 4. Appendix • Financial Statements
Slide 10: Orthopedics Business
1. Orthopedics Business Revenue (Non-China Ortho) Ortho Revenue by Geographic Areas USD: million USD: million USD: million Excl. FX USD: USD: 300 million267 3.3% million 223 44 47 204 196 200 31 30 102 104 15 16 11 11 5 5 2011 2012 2013 2014 2015 2016 2016 1H 2017 1H 坐标轴标题 US EMEA Japan China others
Slide 11: Cardiovascular Business
2. Cardiovascular Business Revenue & Domestic DES Sales Growth by Products Highlights USD: million USD: million USD: Revenue : 25% ↑ USD: Revenue: 25% YOY ↑ million Domestic Stent sales: 22% YOY ↑, way above market average million 110 117 130 Firehawk: 130% ↑ growth rate 105 97 26 FirehawkTM :
Slide 12: Cardiovascular Business – International Business
2. Cardiovascular Business – International Business Overseas Revenue by Region Overseas DES Revenue Promising Results of Target AC Clinical Trial USD: million USD: million USD: USD: 59% 55% 129% million 52% 114% 11% million 5.80 3.65 3.39 2.23 1.76 0.82 0.60 0.65 Total AP LA EMEA FB2+FH FH 2016 1H 2
Slide 13: Cardiovascular Business Milestones
2. Cardiovascular Business FiresorbTM-Bioresorbable Rapamycin Target Eluting Coronary Stent System Milestone USD: million USD: USD: million TM million Firesorb is expected to obtain CFDA approval in 2020 1 year clinical results of Future I demonstrated its feasibility, safety and efficacy Futu
Slide 14: Endovascular Business
3. Endovascular Business Revenue Sales Growth by Products Lombard Strategic Investment Milestone USD: million USD: million USD: 18.3 29% 38% 5% USD:15% • Prototype sample • Initiate training and million 14.8 22% 6.5 million summited for CFDA registration examine for manufacturing 12.7 12.2 11.7 5.0
Slide 15: Neurovascular Business
4. Neurovascular Business Revenue Sales Growth by Products USD: million 8.6 USD: million USD: USD: 7.2 Hemorrhagic million 41% million Ischemic 34% 28% 5.6 5.8 3.3 2.6 4.2 4.1 2.0 3.0 1.5 2.6 2.0 APOLLO WILLIS™ 2010 2011 2012 2014 2014 2015 2016 2016 1H 2017 1H 2016 1H 2017 1H Pipeline -- Full range
Slide 16: Electrophysiology Business
5. Electrophysiology Business Revenue Sales Growth by Products USD: million Excl. FX Total: 38% ↑ USD: million Excl. FX USD: Domestic: 30% ↑ USD: 2% 29% 27% million Overseas: 72% ↑ million 1.2 1.3 0.7 0.6 0.6 0.6 0.4 0.4 0.5 6.1 0.4 4.7 0.3 3.7 3.1 2.7 2.2 0.8 1.4 RF Diagnostic Catheter- Diagnostic
Slide 17: Others: Pacemaker, Surgical Robot
6. others pacemaker Domestically made BonaFireTM pacing leads completed clinical follow up pacemaker is expected to CompassAnalyzerTM PSA initiated pre-market clinical trial gain CFDA approval by 2017 Smallest pacemaker worldwide: Sorin pacemakers 8cc Implant units: 148% YOY ↑ Revenue:
Slide 18: Appendix
1. Interim Results Highlights 2. Financial Review 3. Business Review 4. Appendix • Financial Statements
Slide 19: Appendix I - Consolidated Income Statement
Appendix I - Consolidated Income Statement (USD '000) 2017 1H 2016 1H Flux % Revenue 217,339 198,556 10% Cost of sales (58,995) (61,595) -4% Gross profit 158,344 136,961 16% Other revenue & net gain (2,522) 5,084 -150% Research and development costs (25,708) (24,161) 6% Distribution costs (63,707) (
Slide 20: Appendix II - Consolidated Balance Sheet
Appendix II - Consolidated Balance Sheet USD'000 30 Jun 2017 31 Dec 2016 Fixed assets 276,143 270,243 Intangible assets 74,044 68,152 Prepayments for fixed assets 2,098 2,010 Goodwill 54,458 54,458 Interest in associate 21,494 11,432 Interest in joint venture - 676 Available-for-sale financial asset
Slide 21: Appendix III - Condensed Consolidated Cash Flow Statement
Appendix III- Condensed Consolidated Cash Flow Statement (USD '000) 2017 1H 2016 1H Flux % Cash generate from operations 45,060 38,104 18% Net income tax paid (2,727) (2,381) 15% Net cash from operating activities 42,333 35,723 19% Net cash from investing activities (35,764) (35,263) 1% Net cash fro
Slide 22: Thank You
Thank You The Patient Always Comes First