Bonesupport Holding Ab · OMXSTO:BONEX
Bonesupport Holding Ab — Q3 2020 Earnings Presentation
17 slides from Bonesupport Holding Ab's earnings presentation, Nov 5, 2020
Slide 1: BONESUPPORT Q3 2020
BONESUPPORT Q3(2020) November 5th 2020 Emil Billbäck, CEO Håkan Johansson, CFO
Slide 2: Disclaimer
DISCLAIMER This presentation, which includes all information and data on the following slides, any oral statements made when presenting these slides, and any other material distributed or statements made at, or in connection with, such presentation (the “Presentation”), relates to BONESUPPORT HOLDIN
Slide 3: Financial highlights and operational highlights Q3 2020
Financial highlights Q3 2020 • Net sales SEK 48 m, growth 23% – EU & ROW growing +36% QoQ and North America growing 31% QoQ – EU & ROW SEK 20 m, -4% YoY, with CERAMENT G & V -4% – North America SEK 28 m, +53% YoY • EBIT: SEK -20 m (SEK -33 m) Operational highlights Q3 2020 • Dutch direct sales team
Slide 4: COVID-19 – Impact on business and measures taken
COVID-19 – Impact on business and measures taken Q3 2020 update • Region specific gradual return of elective surgeries • Hospital capacity for orthopaedic surgeries is limited by implementation of Corona safety protocols • University hospitals with capacity struck infection departments have seen ove
Slide 5: Continued progress in the expanded US distribution build up
Continued progress in the expanded US distribution build up, despite Corona pandemic influence LTM Quarterly Sales per Segment US distribution with 40 independent 200.0 distributors (dark blue bar) 200.0 180.0 173 180.0 166 165 • New US distribution model with US distribution with Zimmer Biomet (lig
Slide 6: North America – Progressing market penetration
North America – Progressing market penetration Q3 2020 • Sales of SEK 28 m, 31% growth over previous quarter and 53% YoY • Leveraging strong GPO listing and new customers Progressing towards registration of CERAMENT G • De Novo application submitted in April for CERAMENT G in bone infections (osteom
Slide 7: CERAMENT G pathway to US market
CERAMENT G pathway to US market Milestone deadlines FDA: Max 90 days 1. Any delivery by FDA ahead of max process time DeNovo April 2020 CERAMENT G BONESUPPORT: Max 180 days for one stage could be transferred to later stage DeNovo application filed FDA: Max 60 days1 Q1 2021: March 2020 July 2020 Subm
Slide 8: EUROW – Sales growth disruption related to COVID-19 influence
EUROW – Sales growth disruption related to COVID-19 influence Q3 2020 • Sales of SEK 20 m, growth of 36% versus previous quarter and -4% YoY • Antibiotic eluting products growth of 34% versus previous quarter and -4% YoY • Advancing market expansion and revitalising distributor markets, despite nega
Slide 9: Financial Review
Financial Review
Slide 10: Net Sales per quarter
Q3 2020 net sales SEK 48.1 m (SEKm) Net Sales per quarter 60 180 +23% Net Sales 50 46.2 48.1 170 43.4 Q3 Net Sales per quarter 39.1 40 36.2 160 LTM 30 150 20 140 10 130 0 120 Q3-19 Q4-19 Q1-20 Q2-20 Q3-20 Net Sales per quarter LTM 10
Slide 11: North America and EUROW net sales
North America EUROW +53% -4% Net Sales Net Sales Q3 Q3 (SEKm) July - Sep (SEKm) July - Sep 2020 2019 2020 2019 Net Sales 28.3 18.5 Net Sales 19.8 20.7 Gross profit 27.2 16.9 Gross profit 16.9 17.4 Contribution -0.6 -9.8 Contribution 1.4 0.6 Net Sales per quarter (SEKm) Net Sales per quarter (SEKm) 2
Slide 12: Strong growth in North America, gradual recovery in EUROW
STRONG GROWTH IN NORTH AMERICA GRADUAL RECOVERY IN EUROW Key Figures 2020 2019 2018 SEK m Q3 Q2 Q1 Q4 Q3 Q2 (i) Q1 Q4 Net Sales 48.1 36.2 43.4 46.2 39.1 37.3 32.8 23.1 Gross Margin (%) 91.4 86.7 88.7 88.9 87.7 86.5 85.9 85.0 Operating Loss -19.2 -23.5 -29.2 -38.6 -32.7 -47.8 -39.0 -45.0 Cash at peri
Slide 13: Strong ability to adapt the business
Strong ability to adapt the business Key Figures 2020 2019 2018 SEK m Q3 Q2 Q1 Q4 Q3 Q2 (i) Q1 Q4 Selling expenses (less 32.0 23.0 35.0 41.3 33.5 47.9 37.3 37.7 commissions) Sales Commissions 9.2 6.9 7.1 8.0 6.0 4.8 3.5 1.1 Research and Development 11.7 14.0 15.8 18.5 17.4 16.0 16.9 17.6 expenses Ad
Slide 14: Clear Corporate Strategy Driving Value Creation
Clear Corporate Strategy Driving Value Creation
Slide 15: Strategic execution and situational adoption
Strategic execution and situational adoption Strong progress despite pandemic disruption • Focused distribution strategy driving increased customer base in the US • Advancements to register CERAMENT G on the US market - De Novo application – accelerated CERAMENT G market entry - PMA application end
Slide 16: CERAMENT Value generating milestones
CERAMENT® Value generating milestones July 2020 Repatriation of Benelux into direct market March 2020 Q3 2020 Q1 2021 May 20th Zimmer FDA designated CERAMENT G Q4 2021 Biomet ceases to CERAMENT® G CERAMENT® G CERAMENT G as Australia Potential Market sell CERAMENT “Breakthrough device” approval PMA a
Slide 17: Q&A
Q&A