El.en. S.p.a. · MIL:ELN
El.en — FY2015 Earnings Presentation
32 slides from El.en's earnings presentation, Mar 16, 2016
Slide 1: Company Presentation: 2015 Financial Results
COMPANY PRESENTATION 2015 FINANCIAL RESULTS
Slide 2: Disclaimer
Disclaimer Certain statements in this slide show, including those addressing the Company’s beliefs, plans, objectives, estimates or expectations of possible future results or events, are forward-looking statements. Forward-looking statements involve known or unknown risks, including general economic
Slide 3: Summary
Summary 1. LASERS AND LASER APPLICATIONS 2. THE GLOBAL LASER MARKET 3. EL.EN. GROUP 4. 2015 FINANCIAL RESULTS 5. 2016 TARGETS 6. EL.EN. STOCK, MULTIPLES & COMPARABLES
Slide 4: Lasers and Laser Applications
Lasers and Laser Applications
Slide 5: LASER
LASER Light Amplification by Stimulated Emission of Radiation MEDICAL LASER Systems INDUSTRIAL LASER Systems
Slide 6: Medical and Aesthetic Applications
Medical and Aest. Applications
Slide 7: Industrial lasers applications
Industrial lasers applications
Slide 8: 2015 Hot Products
2015 Hot Products Monna Lisa Touch Mediostar Cyber TM 200
Slide 9: New Products
New Products Multipulse HoPLUS Discovery Pico Motus AX
Slide 10: The Global Laser Market
ae. The Global Laser Market
Slide 11: The Medical Laser Market
The MEDICAL Laser Market Global market for medical lasers by end use, through 2019 ($ millions) Market Segment 2013 2014 2019 CAGR% 2014-2019 Surgical 758 813 1.219 8,4% Cosmetic 895 1.024 2.097 15,4% Dental 209 244 623 20,7% Veterinary 99 115 247 16,5% Total 1.961 2.195 4.185 13,8% Global market fo
Slide 12: The Industrial Laser Market
The INDUSTRIAL Laser Market Global market and forecast for high power laser systems by application (by value) By Value Global Market (EUR Million) CAGR (%) 2013 2016 2020 2013-2016 2016-2020 Cutting 2.408 3.014 3.965 7,8 7,1 Welding and Brazing 1.249 1.605 2.231 8,7 8,6 Surface treatment and Other 5
Slide 13: El.En. Group
€a.€n. £1.n. Group El.En. Group
Slide 14: Group Overview
Group Overview High –Tech laser photonics Group Develops, manufactures and distributes laser sources and laser systems for medical and industrial applications Know-how based on 35 years stratification of multidisciplinary experience 2015: Consolidated Revenues of €218 mln, up 21% YoY 965 employees G
Slide 15: El.En. Group
El.En. Group C.&.
Slide 16: Strategic Strengths
Strategic Strengths Multidisciplinary and multifacility R&D activity: sources, systems, applications Industrial Combine High tech laser source development with flexible production facilities in high growth areas Medical Technological and clinical innovation improving performance and broadening the a
Slide 17: Consolidated Revenues and EBIT
Consolidated Revenues and EBIT SALES EBIT 225 25 200 20 175 150 15 125 10 100 75 5 50 0 25 0 (5) 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015
Slide 18: R&D Activity
R&D Activity Clinical trials and validations of new therapeutic laser treatments and research on new applications of laser- tissue interaction Broadening Mona Lisa Touch Clinical studies New Pico second laser platform Clinical studies on cutaneous ulcers Painless laser hair removal Patents developme
Slide 19: 2015 Financial Results
ae. 2015 Financial Results
Slide 20: Consolidated P&L
Consolidated P&L Euro/000 31/12/14 31/12/15 Var.% unaudited Revenues 180.009 100,0% 217.670 100,0% 20,9% Gross margin 81.849 45,5% 96.318 44,2% 17,7% EBITDA 17.963 10,0% 25.666 11,8% 42,9% EBIT (*) 15.301 8,5% 21.499 9,9% 40,5% Pretax Income (**) 24.409 13,6% 23.113 10,6% -5,3% Net income (***) 16.5
Slide 21: Balance sheet
Balance sheet Euro/000 31/12/14 31/12/15 Var.% unaudited Total non current assets 61.775 97.766 58% Net Working Capital 49.501 59.861 21% Net financial position 47.116 29.815 -37% Long term liabilities 7.856 7.904 1% Net Equity 150.536 179.539 19% Net capital employed 103.420 149.724 45% Net Working
Slide 22: Medical Lasers Business
Medical Lasers Business -1% +20% YoY 80 70 60 50 +108% Mln 40 +30% 30 +1% 20 10 - Aesthetic Surgical Physiotherapy Service 12/14 12/15
Slide 23: Medical Lasers: Breakdown by Area
Medical Lasers: Breakdown by Area 40 +99% +25% 35 0% -4% 30 25 +15% Mln 20 15 10 -9% 5 0 Italy Europe North Americas F/M East Japan America 12/14 12/15
Slide 24: Industrial Lasers Business
Industrial Lasers Business +22% YoY 60 +24% 50 40 Mln 30 +3% +12% 20 +561% 10 - Cutting Marking Laser sources Service 12/14 12/15
Slide 25: Industrial Lasers: Breakdown by Area
Industrial Lasers: Breakdown by Area 45 +24% 40 35 30 +23% 25 Mln 20 +43% 15 10 -35% 5 0 Italy Europe Americas Far East 12/14 12/15
Slide 26: 2016 Targets
EG 2016 Targets
Slide 27: 2016 Targets
2016 Targets Increase Sales by >= 5% Match 2015’s EBIT
Slide 28: El.En. Stock, Multiples & Comparables
El.En. Stock, Multiples & Comparables
Slide 29: El.En. Stock
El.En. Stock €&.&. — ELEn. Group Euro 0 2 www.elengroup.com
Slide 30: El.En. Multiples
El.En. Multiples Stockholder's Equity per share * 35 Price / Book Value Adj. 1,18 EV /EBIT (85% EBIT) 6,53 EV / Sales (85% Sales) 0,64 El.En. Market Cap. 197,8 @ € 41,00 Net financial position 29,8 @ 31/12/15 Financial investments m/l term 10,6 @ 31/12/15 Market value of 1,0 mm Cynosure shares 38,0
Slide 31: El.En. Comparables
El.En. Comparables Price Revenue Var.% EBIT EBIT % MK.Cap. EV EV/Sales EV/EBIT P/Book Dec 31st , 2015 Revenue Value Medical/Aesthetic Syneron $8,16 $277.849 9% $(6.459) -2% $306.710 $220.054 0,79 n.a. 1,47 Zeltiq $23,23 $255.416 46% $3.694 1% $920.440 $871.761 3,41 235,99 7,40 Cutera $12,66 $94.761
Slide 32: Investor Relations Contacts
El.En. SPA Enrico ROMAGNOLI Investor Relations Manager tel. +39 055-8826807 E-mail: finance@elen.it POLYTEMS HIR SRL Bianca FERSINI MASTELLONI Financial Communication Tel. +39 06-6797849 / +39 06-69923324 E-mail: b.fersini@polytemshir.it POLYTEMS HIR SRL Silvia MARONGIU Press office Tel. +39 06-6797