Slide 1: Q3 and 9M 2016 Results
Q3 and 9M 2016 DIASORIN SPA Results November 10, 2016
Slide 2: Disclaimer
Disclaimer These statements are related, among others, to the intent, belief or current expectations of the customer base, estimates regarding future growth in the different business lines and the global business, market share, financial results and other aspects of the activities and situation rela
Slide 3: Overview
Overview Highlights Q3 and 9M 2016 Main Topics Revenues • Breakdown by Technology • Breakdown by Geography Installed Base Expansion Profitability Profile Q3 and 9M 2016 Financials FY 2016 Company Guidance Q3 and 9M 2016 Results 3
Slide 4: Highlights
Highlights
Slide 5: Q3'16 and 9M'16 highlights
Q3’16 and 9M’16 highlights Q3’16 9M’16 LIAISON & LIAISON XL PLACEMENTS Q3’16 9M’16 @ SEPT 30, 2016 REVENUES €/mln 147.0 €/mln 413.3 +19.3% +12.2% LIAISON XL +151 +426 2,718 LFL* @ CER +6.8% LFL* @ CER +6.9% LIAISON -23 -30 4,014 CLIA ex Vit D 25 OH +8.1% +11.5% TOTAL +128 +396 6,732 @ CER +9.7% @ CE
Slide 6: Q3'16 and 9M'16 Revenues
Q3’16 and 9M’16 Revenues Q3’16 9M’16 vs. Vs. Q3’15 9M’15 Growth driven by all CLIA tests (in particular ID, Hepatitis, ToRCH, Stool Testing and Vitamin D 1,25) and change in @ current +19.3% +12.2% perimeter of consolidation (inclusion from mid May of “Focus Business”) Revenues Growth in almost all
Slide 7: 9M'16 Revenues: contribution by technology
9M’16 Revenues: contribution by technology 9M’15 9M’16 Like-for-Like* CLIA sales contribution growth from 74.5% to 75.5% (*) 9M’16 AS REPORTED (** ) * LFL = Like-for-Like (excluding the Focus acquisition) ** Focus consolidated from May 13, 2016 Q3 and 9M 2016 Results 7
Slide 8: Q3'16 and 9M'16 Revenues: breakdown by technology
Q3’16 and 9M’16 Revenues: breakdown by technology Q3’16 9M’16 vs. vs. Q3’15 9M’15 @ current +8.1% +11.5% CLIA ex Vitamin D 25 OH tests LFL* @ CER +9.7% +13.6% CLIA Vitamin D @ current -5.5% -2.8% 25 OH test (CLIA) LFL* @ CER -5.3% -2.2% @ current +3.9% -6.0% ELISA + RIA tests LFL* @ CER +4.6% -4.5%
Slide 9: 9M'16 Revenues: breakdown by geography
9M’16 Revenues*: breakdown by geography EUROPE & AFRICA 181.3 €/MLN NORTH AMERICA 46.8% of sales 97.9 €/mln +5.0% 25.2% of sales +2.1% GERMANY FRANCE +6.3% +4.0% USA +2.2% ITALY CHINA -4.8% +37.8% ASIA PACIFIC MEXICO 78.4 €/MLN +24.5% BRAZIL 20.2% of sales +4.1% +16.1% LATIN AMERICA 30.2 €/MLN 7.8%
Slide 10: 9M'16 Revenues: breakdown by geography
9M’16 Revenues: breakdown by geography 9M’15 9M’16 Like-for-Like* APAC higher share of total revenues mainly driven by strong 9M’16 AS REPORTED growth in China (** ) * LFL = Like-for-Like (excluding the Focus acquisition) ** Focus consolidated from May 13, 2016 Q3 and 9M 2016 Results 10
Slide 11: Q3'16 and 9M'16 Revenues: breakdown by geography
Q3’16 and 9M’16 Revenues*: breakdown by geography Q3’16 Q4’15 9M’16 Q3’16 9M’16 vs. vs. vs. vs. Q3’15 Q4’14 9M’15 Q3’15 9M’15 EUROPE & Growth on all CLIA tests, mainly Stool testing, +5.1% +5.0% Germany +5.3% +6.3% AFRICA Infectious Diseases and Vitamin D 1,25 Overall market decrease by 7% (EDMA dat
Slide 12: Q3'16 and 9M'16 Revenues: breakdown by geography
Q3’16 and 9M’16 Revenues*: breakdown by geography Q3’16 Q4’15 9M’16 Q4’15 Q3’16 9M’16 vs. vs. vs. vs. Q3’15 Q4’14 9M’15 Q4’14 Q3’15 9M’15 ASIA Growth driven by all CLIA tests, as a result of +20.9% +16.1% China +25.9% +37.8% strong increase in installed base. Positive trend PACIFIC also for Murex an
Slide 13: Installed base expansion
Installed base expansion TOTAL UNITS AT NET PLACEMENTS IN TOTAL UNITS AT DECEMBER 31, 2015 9M 2016 SEPTEMBER 30, 2016 4,044 -30 4,014 2,292 +426 2,718 TOTAL 6,336 +396 6,732 Q3 and 9M 2016 Results 13
Slide 14: Q3'16 and 9M'16 EBITDA
Q3’16 and 9M’16 EBITDA* Q3’15 Q3’16 9M’15 9M’16 EBITDA 45.0 56.1 +24.6% 136.4 158.4 +16.1% EBITDA 36.5% 38.1% +160 bps 37.0% 38.3% +130 bps margin Raise in marginality compared to Q3’15 and 9M’15 mainly driven by: Q3’16 - Gross Margin: reduction due to some phasing on sales to distributors which enj
Slide 15: Q3 and 9M 2016 Financial Data
Q3 and 9M 2016 Financial Data
Slide 16: Q3'16 results: Income Statement
Q3’16 results: Income Statement Q3 Change Data in € million 2015 2016 amount % Net revenues 123.2 147.0 +23.8 +19.3% Gross profit 85.0 99.1 +14.1 +16.5% Gross Margin 69.0% 67.4% -160 bps S&M (23.5) (28.0) -4.5 +19.0% R&D (6.3) (10.2) -4.0 +63.2% G&A (13.7) (14.9) -1.2 +8.4% Total operating expenses
Slide 17: 9M'16 results: Income Statement
9M’16 results: Income Statement 9M Change Data in € million 2015 2016 amount % Net revenues +368.4 413.3 +44.9 +12.2% Gross profit 251.4 282.4 +31.1 +12.4% Gross Margin 68.2% 68.3% +10 bps S&M (72.2) (79.4) -7.2 +9.9% R&D (18.9) (26.9) -8.0 +42.2% G&A (40.7) (43.1) -2.4 +5.8% Total operating expense
Slide 18: Balance Sheet
Balance Sheet Data in € million 12/31/2015 09/30/2016 Change Total intangible assets 117.9 343.7 +225.8 Total tangible assets 74.5 87.5 +13.0 Other non-current assets 21.2 21.7 +0.6 Net Working Capital 144.0 161.8 +17.8 Other non-current liabilities (38.3) (41.9) -3.6 Net Capital Employed 319.2 572.
Slide 19: Q3'16 and 9M'16 results: Cash Flow Statement
Q3’16 and 9M’16 results: Cash Flow Statement Q3 9M Data in € million Change Change 2015 2016 2015 2016 Cash and cash equivalents at the beginning of the period 141.6 73.2 -68.4 144.9 212.2 +67.3 Operating activities 40.6 49.5 +8.9 96.4 117.6 +21.3 Investing activities (5.4) (6.7) -1.3 (21.6) (21.1)
Slide 20: FY 2016 Company Guidance
FY 2016 Company Guidance
Slide 21: FY 2016 Company Guidance
FY 2016 Company Guidance FY 2016 Company Guidance, at constant scope of consolidation Revenues Growth between +6% and +7% at CER compared with 2015 EBITDA Growth equal to ca. +9% at CER compared with 2015 Q3 and 9M 2016 Results 21
Slide 22: DiaSorin
DiaSorin