Gentian Diagnostics Asa · OSL:GENT
Gentian Diagnostics Asa — Q1 2023 Earnings Presentation
23 slides from Gentian Diagnostics Asa's earnings presentation, May 5, 2023
Slide 1: Q1 23 Presentation
Q1 23 Presentation May 5th, 2023
Slide 2: Important notice
Important notice This presentation has been prepared by and is the sole which are subject to risks, uncertainties and other factors with applicable laws and regulations. The Company require responsibility of Gentian Diagnostics ASA (the “Company” that may cause actual events to differ materially fro
Slide 3: Efficient diagnostics for better treatment decisions
Efficient diagnostics for better treatment decisions The growing diagnostic market puts increasing pressure on laboratories. Still, many of the existing, clinically relevant biomarkers are only available on slow and inefficient platforms. By converting biomarkers to the most efficient automated, hig
Slide 4: Introduction
7“, e troduction
Slide 5: Portfolio of high-impact tests provides solid growth opportunity
Portfolio of high-impact tests provides solid growth opportunity 7* tests contributing Industry-leading to saving costs and team and knowhow protecting life Team with proven track- USD 1.8bn serviceable record and industry market with 5-10% annual expertise from market growth leading IVD companies E
Slide 6: Products targeting large and growing disease groups
Products targeting large and growing disease groups DISEASE GROUP PRODUCT APPLICATION ATTRACTIVE CLINICAL BENEFITS Kidney disease Cystatin C Early detection of reduced kidney function Preventing severe kidney failure Inflammation Fast diagnosis of inflammatory bowel disease Reducing time-consuming a
Slide 7: Positive market developments for GCAL
Positive market developments for GCAL • The market development of GCAL® continued to develop positively, driven by a growing body of scientific evidence supporting the relevance of the immunoassay • In a study from Karolinska University Hospital calprotectin measured with the GCAL® assay was the onl
Slide 8: Progress made on NT-proBNP
Progress made on NT-proBNP • Gentian’s NT-proBNP assay is currently in the optimization phase of development and aims to be the first turbidimetric in vitro diagnostic test for the quantitative measurement of NT-proBNP. • Work on a simpler and more efficient calibration method continued during the q
Slide 9: USD 1.8bn global serviceable market estimated to grow by 5-10% annually
USD 1.8bn global serviceable market estimated to grow by 5-10% annually next 4-6 years Serviceable Market Total Addressable Total Serviceable Target market share, Gentian’s annual growth rate, Market, USDm Market, USDm unrisked revenue take next 4-6 years Established products 2,200 220 ~25% 30-50% 5
Slide 10: Solid progress on sales growth and partnerships with leading global diagnostic companies
Solid progress on sales growth and partnerships with leading global diagnostic companies Total revenue and CAGR Partnerships prove viability of go-to-market model 120 112 100 MNOK +28% Global distribution agreement for 100 GCAL®, initial roll-out in Europe 80 79 60 Long-standing commercial partnersh
Slide 11: Financial review
Financial review
Slide 12: Increased distribution supporting long-term growth
Increased distribution supporting long-term growth 1Q23 financials and key milestone Highlights • Sales of MNOK 31.4 in Q123, up 53% (40% organic growth) from 1Q22 Sales Gross margin • All products and geographic areas showed positive sales development MNOK 31.4 52% in 1Q23 compared to 1Q22 +53% vs
Slide 13: Continued high sales growth in line with target
Continued high sales growth in line with target Sales revenue - geographic split • 1Q23 sales up 53% (+40% organic) vs 1Q22, in line with the target of MNOK 1Q23 1Q22 2022 2021 20%+ annual sales growth from established products • Revenue growth contribution was achieved by all products, in all regio
Slide 14: Stable cost development
Stable cost development MNOK MNOK 1Q23 1Q22 2022 2021 OPEX Capitalised R&D expenses Sales and marketing 5.3 4.6 21.5 15.1 expenses 1 Administration expenses 7.2 6.7 28.0 32.8 2 1 1 Research and 2 6.6 4.4 22.8 24.4 development expenses Total 19.1 15.7 72.3 72.3 • Total other operating expenses before
Slide 15: Investing to scale
Investing to scale 1Q23 balance sheet and cash flow Capital priorities Cash Capex • OPEX of MNOK 19.1* and capex of MNOK 1.1 in 1Q23 MNOK 76.0 MNOK 1.1 • OPEX will increase as total number of products are MNOK 100.2 in 1Q22 MNOK 2.2 in 1Q22 launched and sales grow – limited increase in capex • Cost
Slide 16: Capital Markets Day May 2023 12:00 CEST
Capital Markets Day 10 May 2023 12:00 CEST Join us at our HQ in Moss Live broadcast for those not able to join in person Program 12.00 Registration and light lunch 12.30 Presentations and Q&A 15.00 Site visit gentian
Slide 17: Q&A
Q&A
Slide 18: Appendix
Appendix
Slide 19: P&L highlights
P&L highlights MNOK 1Q23 1Q22 2022 2021 Sales 31.4 20.6 101.6 83.1 Other revenues 2.2 2.5 10.3 16.9 Total revenues 33.6 23.1 111.9 100.0 COGS -15.0 -11.6 -52.6 -43.2 Employee benefit expenses -11.8 -8.5 -40.9 -39.5 D&A -2.4 -2.1 -10.2 -7.4 Other OPEX -7.3 -7.1 -31.4 -32.8 EBITDA -0.5 -4.2 -13.0 -15.
Slide 20: Cash flow highlights
Cash flow highlights MNOK 1Q23 1Q22 2022 2021 Operating activities -3.3 -11.4 -14.0 -27.1 Investing activities -1.1 -2.2 -14.7 -12.8 Financing activities -1.1 -1.1 -4.3 -3.1 Changes in cash and cash equivalent -5.5 -14.8 -33.0 -43.0 Cash and cash equivalent at the beginning of period 81.6 114.9 114.
Slide 21: Dedicated and experienced management team
Dedicated and experienced management team CEO Consulting Founder CFO & COO CCO CSO VP R&D VP QA & RA VP BD Hilja Erling Njaal Markus Alexandra Torsten Anne-Mette Jack Ibert Sundrehagen Kind Jaquemar Havelka Knüttel Horsrud Akre Andreassen 25+ years’ experience from Erling Sundrehagen, co- 20+ years
Slide 22: Gentian board of directors
Gentian board of directors Tomas Espen T. Kari E. Kjersti Fredrik Monika Frank Settevik Jørgensen Krogstad Grimsrud Thoresen Neuman Frantzen Chair of Board member Board member Board member Board member Board member Board member the Board Tomas Settevik has Espen Tidemann Kari Krogstad has more Kjers
Slide 23: Top 20 shareholders
Top 20 shareholders Shareholder No of shares % Vatne Equity AS 2 110 224 13.68 % Kvantia AS 1 623 368 10.53 % Holta Life Sciences AS 1 214 702 7.88 % Verdipapirfondet Delphi Nordic 973 999 6.32 % Safrino AS 749 700 4.86 % Carpe Diem Afseth AS 500 650 3.25 % Skandinaviska Enskilda Banken AB 500 000 3