El.en. S.p.a. · MIL:ELN
El.en — 6th Annual Polytems Hir Italian Day in Frankfurt 2022
42 slides from El.en's conference presentation, Jan 25, 2022
Slide 1: Company Presentation
COMPANY PRESENTATION 6th Annual Polytems Hir Italian Day in Frankfurt January, 25th, 2022
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: Agenda
AGENDA 1. Overview 2. Markets and Growth drivers 3. Innovation: products & applications 4. Financial Highlights 5. Current Outlook 6. Multiples & Comparables
Slide 4: Overview
Overview
Slide 5: Overview
Overview A primary player providing Medical, Industrial and Conservation Laser Solutions Worldwide World Class Hi-Tech company Hi-Tech industrial group providing laser solutions with proprietary technologies and know how developed over 40 years Listed on Milan’s Stock Exchange Star segment since yea
Slide 6: Our businesses
Our businesses 40 20 7 13 years of experience subsidiaries Countries with direct Plants presence WE CREATE LIGHT, ENERGY, WAVES Medical Conservation Industrial Our energy based systems improve people's Our laser systems preserve artworks of Our laser cutting and marking systems well-being and life q
Slide 7: Our approach
Our approach OUR STRATEGY FOR A SUSTAINABLE FUTURE: Create value over time and be ready to successfully meet the future challenges R&D 8 >16 mln > 130 > 150 R&D dept. yearly R&D investments patents R&D specialists PRODUCTS > 50.000 ISO 9001 e ISO 13485 > 60 Laser sources produced Certifications Qual
Slide 8: Our History
Our History Production of CO2 lasers for dermatology, surgery and therapy Acquisition of ASA S.r.l. Cynosure Inc. listed on the Nasdaq Incorporation of El.En. S.n.c Incorporation of Penta Laser Technology (Shangdong) Co. Ltd Incorporation of: Incorporation of chinese JV Deka MELA S.r.l., Acquisition
Slide 9: El.En. Worldwide
El.En. Worldwide Our people 799 Italy 901 Row 43% 48% 175 Europe 9% https://elengroup.com/sustainability/reports.html 9
Slide 10: Growth history
Growth history Revenues Cagr 11/20: +13% EBIT Cagr 11/20: +22% in Euro million 10
Slide 11: Markets and Growth drivers
Markets and Growth drivers
Slide 12: Long term market trends
Aesthetics: Long term market trends Aging population Growing global obesity rate Increasing desire of individuals to improve their appearance Lower procedure cost, attracting a broader consumer base Minimally invasive surgeries: Painless procedures Side effects and risks reduction Hosp
Slide 13: Long term market trends
Long term market trends Laser cutting applications: Laser power increase + Cost reduction: Enhanced flexibility, productivity and quality standards in manufacturing processes New application verticals Building and construction Laser marking: Products identification and traceability Minimal
Slide 14: Medical Aesthetics: Market Overview (pre-Covid)
Medical Aesthetics: Market Overview (pre-Covid) Daniel Associates: Medical aesthetics market 2018 to 2023 10.23% CAGR Source: Daniel Associates Key growth drivers: Aging population Desire to achieve and maintain youthful appearance Increase in healthcare spending Requirements for fast and mi
Slide 15: Medical Aesthetics: Market Overview
Medical Aesthetics: Market Overview 2018 2024 Cagr Facial Aesthetics Products 1.831 3.638 10,7% Body Contouring Devices 1.708 3.172 10,3% Cosmetic Implants 1.321 2.415 10,0% Phisician-dispenced cosmoceuticals and skin 1.104 1.903 10,2% Skin Aesthetic Devices 938 1.762 10,2% Phisician-dispenced eyela
Slide 16: Medical Laser Market
Medical Laser Market Fortune Business Insights: Market & Research: The global Medical Laser The global energy based Market size was valued @ USD aesthetic devices market is 4,37 billion in 2019 and is estimated at $ 4.0 B today and projected to reach USD 10,57 is projected to grow $ 8.4B by billion
Slide 17: Industrial laser market
Industrial laser market Laser systems increasingly adopted in high quality manufacturing for uniqueness, flexibility, environment friendliness, productivity • Sheet metal cutting: technology breakthroughs leading to strong demand expansion • Laser marking for identification: traceability as a qualit
Slide 18: Growth drivers
Growth drivers New laser Comprehensive cutting offer applications presence in allowed by body increased contouring laser power New manufacturing applications for CO2 laser sources Strong manufacturing Regulatory Consumables infrastructure clearances for urology in China for worldwide applications Ch
Slide 19: Innovation: products & applications
Innovation: products & applications
Slide 20: Expanded product portfolio for body contouring, cellulite treatments
Expanded product portfolio for body contouring, cellulite treatments ONDA Plus (Coolwaves) Improved capabilities of our body contouring flagship system Physiq, Delinea, B-Star An effective set of unique combinations of superluminescent led matrices with Tens and EMS Schwarzy , B-Strong, Bodylab High
Slide 21: Expanded product portfolio for epilation, skin firming
Expanded product portfolio for epilation, skin firming Again Unique high end system for laser hair removal Luxea The ultimate multi application and multi technology platform RED Touch The system for neocollagenesis and tissue regeneration 21
Slide 22: Tattoo and Toning
Tattoo and Toning Discovery Pico Derm Designed for Asian skins Chrome Station Three wavelengths multi platform 22
Slide 23: Tattoo and Toning
Tattoo and Toning €LEN re ret 2c Chrome Competition 23
Slide 24: Acne
Courtesy: Emil Tanghetti, MD June 29, 2019 Acne January 14, 2020 ELEN oF A DX AcCCURE 24
Slide 25: Urology
Urology New FIBER DUST One of two worldwide players in high power medical fiber lasers Our novel disruptive technology for the most effective stones micro fragmentation 25
Slide 26: MonnaLisa Glide
MonnaLisa Glide Novel CO2 device for dermatology and gynecology featuring an additional 1540nm laser source 26
Slide 27: Physiotherapy
Physiotherapy MiS (MLS Family) For degenerative neuropathies 27
Slide 28: Industrial lasers systems
Industrial lasers systems STEEL CUTTING 10 kW Average power in 2020 sales bookings 40 kW systems to come in 2021 28
Slide 29: Laser cutting systems offer in China
Laser cutting systems offer in China 29
Slide 30: Financial Highlights
Financial Highlights
Slide 31: Income Statement – 9M 2021
Income Statement – 9M 2021 Euro '000 30/09/19 % 30/09/20 % 30/09/21 % Cagr% unaudited unaudited unaudited Medical 170.761 60,4% 159.742 59,6% 220.476 54,4% 13,6% Industrial 112.187 39,6% 108.425 40,4% 184.824 45,6% 28,4% Revenues 282.948 100,0% 268.168 100,0% 405.300 100,0% 19,7% Gross margin 111.14
Slide 32: 9 Months Cash Flow
9 Months Cash Flow 35 mln 19 mln 9 mln 32
Slide 33: Revenue breakdown by business
Revenue breakdown by business Cagr Medical +23% Cagr 19/21: +14% Cagr Cagr Cagr +4% -3% +11% Cagr +35% in Euro million Cagr Cagr +17% +5% Industrial Cagr 19/21: +29% 33
Slide 34: Revenue breakdown by area
Revenue breakdown by area Cagr +12% in Euro million Cagr Cagr +21% +5% Cagr +25% Cagr +37% Cagr +31% 34
Slide 35: Current Outlook
Current Outlook
Slide 36: 2021 Guidance
2021 Guidance 2021 vs 2020: Revenue target >550 mln € EBIT H2 > EBIT H1 36
Slide 37: Multiples & Comparables
MultiplesCurrent & Comparables Outlook
Slide 38: Multiples
Multiples Stockholder's Equity per share 3,5 Price / Book Value Adj. 4,1 EV /EBIT (90% EBIT) 19,5 EV / Sales (90% Sales) 2,1 El.En. Market Cap. 1.134,9 @ € 14,22 Net financial position 74,7 @ 30/09/21 Financial investments m/l term 18,3 @ 30/09/21 Enterprise Value 1.041,8 38
Slide 39: Comparables
Comparables Amounts in mln Sept. 30th , 2021 Price Revenue Var.% EBIT EBIT % MK.Cap. EV EV/Sales EV/EBIT P/Book Medical/Aesthetic Rev. (*) (*) Value Cutera $34,94 $146 49% $7 5% $630 $482 2,5 52,8 11,4 InMode $44,92 $247 89% $113 46% $3.430 $3.047 9,2 20,2 8,9 Venus $1,56 $73 40% $(11) -15% $94 $155
Slide 40: Comparables
Comparables €LEN narra a: —— EL.En. S.p.A. —— IPG Photonics Corporation ——— Prima Industrie S.p.A. —— Cutera, Inc. —— Sisram Medical Ltd. ——Han's Laser Tech 40
Slide 41: Contacts
Contacts El.En. S.P.A. Enrico ROMAGNOLI Investor Relations Manager tel. +39 055-8826807 E-mail: finance@elen.it POLYTEMS HIR Financial Communication, IR and Press Office Bianca FERSINI MASTELLONI - b.fersini@polytemshir.it Silvia MARONGIU - s.marongiu@polytemshir.it Tel. +39 06-69923324
Slide 42: ELEN Industrial and Medical Laser Solutions
™ ELEN Industrial and Medical Laser Solutions -THE FUTURE IN A BEAM
El.En. — 6th Annual Polytems Hir Italian Day in Frankfurt 2022 on 6ix