Pharmx Technologies Limited · ASX:PHX
Pharmx Technologies — Corum Group — H1 FY2023 Earnings Presentation
27 slides from Pharmx Technologies's earnings presentation, Feb 24, 2023
Slide 1: Market Release: Results for half-year ended 31 December 2022
Corum Group Limited ABN 25 000 091 305 Level 3, 120 Sussex Street, Sydney NSW 2000 www.corumgroup.com.au Market Release 24 February 2023 Corum Results for the half-year ended 31 December 2022 Corum Group Limited (ASX: COO) is pleased to announce its interim results for the half-year ended 31 Decembe
Slide 2: Chairman Comments and About Corum Group
Commenting on the results, Corum Executive Chairman, Nick England said: “We have made significant progress in launching and growing PharmXchange over the past 6 months. We have managed the launch and growth ahead of forecast with controlled investment spend and still maintaining the Group underlying
Slide 3: Corum Group Limited H1 FY23 Results
Corum Group Limited H1 FY23 Results 24 February 2023
Slide 4: Important Notice & Disclaimer
Important Notice & Disclaimer This presentation has been prepared by Corum Group Limited (COO or the results, performance or achievements expressed or implied by the forward- Company or Corum) and has been authorised for release by the Board. It looking statements contained in this document will act
Slide 5: H1 FY23 Financial Highlights
H1 FY23 Financial Highlights New initiatives and cost efficiencies driving positive momentum $6.1m $2.1m $0.6m Revenue Underlying EBITDA(1) Underlying NPAT(1) +0.3% vs pcp +22.7% vs pcp +60.8% vs pcp +4.6% half on half +5.6% half on half -13.6% half on half 0.11 $1.5m $5.2m Underlying EPS (cents)(1)
Slide 6: PharmX is Corum's Growth Engine
PharmX is Corum’s Growth Engine PharmX stability and reliability ensures the platform remains the pre-eminent electronic ordering gateway for the Australian pharmacy industry Trusted & reliable pharmacy electronic order & invoicing gateway Increases since 2006 ordering efficiency saving Key componen
Slide 7: PharmX
PharmX PharmX continues to increase connections in the pharmacy market • Total Connections +15% since this time last year, lead indicator for future revenue growth – total existing connections currently set up • Active Connections +5% since this time last year, prime driver of revenue growth • Incre
Slide 8: PharmXchange
PharmXchange Enabling trade between pharmacies and all suppliers • Launched in June 22 to provide additional services to Pharmacies & Suppliers • Highly integrated with the industry proven PharmX gateway • Opportunity to develop incremental earnings stream leveraged to platform sales Key Benefits fo
Slide 9: PharmXchange suppliers
PharmXchange suppliers Momentum building with over 30 suppliers now live or in provisioning and pipeline continues to grow 7
Slide 10: PharmXchange brands and products
PharmXchange brands and products Over 7,000 products across 130 brands now available on the platform, growing daily 8
Slide 11: PharmXchange growth
PharmXchange growth Currently over 1,200 pharmacies registered and 30 suppliers signed up in 6 months since launch There has been rapid Pharmacy Growth growth in registration of pharmacies. The next phase of growth is converting to platform usage via: • Targeted pharmacy engagement, including digita
Slide 12: PharmXchange Strategy
PharmXchange Strategy Continue to build on positive momentum to date with validation of platform operation, supplier and pharmacy recruitment ahead of plan • Near term focus is on continuing to grow supplier and product offering – additional resourcing from Jan 23 • Pharmacy engagement strategy and
Slide 13: Pharmacy Software
Pharmacy Software Progress in the transition away from legacy systems with the release of our first cloud point- of-sale solution • Pilot programme successfully completed with the first Go Vita site. This is the first release of our new cloud point-of-sale solution. Roll out is currently underway to
Slide 14: PharmX Legal Proceedings
PharmX Legal Proceedings Proceedings have concluded, awaiting judgement • As previously reported, Corum commenced legal proceedings against Fred IT Group Pty Ltd claiming: • Following the change of control of Fred in 2013, Fred continued to receive a share of the distributions from PharmX for the FY
Slide 15: Financials
Financials
Slide 16: H1 FY23 Financial Snapshot
H1 FY23 Financial Snapshot Revenue and underlying EBITDA growth continues, underlying EBITDA margin maintained Revenue $’000 Underlying EBITDA • Impact of industry consolidation in H2 22 has • Strong underlying EBITDA margin maintained at been recovered through new growth initiatives 34% through exp
Slide 17: Underlying EBITDA and NPAT Bridge
Underlying EBITDA and NPAT Bridge Previous right-sizing of the cost base has been maintained through disciplined cost control • During the half we have balanced the need to invest in revenue generating initiatives with the growth in actual revenue. Maintaining a lower headcount structure while adjus
Slide 18: Cashflow
Cashflow Positive operating cashflow continues $'000 H1 FY22 H2 FY22 H1 FY23 ∆ H1 '22 ∆ H2 '22 • Underlying operating cashflow of Reported Operating Cashflow 2,324 957 1,700 -27% 78% +$1,469k excluding net R&D Add-Back Non-recurring termination, legal benefit (+41%); and +$3,019k and advisory costs
Slide 19: Closing Summary
Closing Summary A positive result for the first half of FY23, growth to continue • Significant progress with efficient investment PharmXchange • Lead metrics greatly exceeding expectations • Connectivity growth in suppliers and pharmacies continues PharmX • Court proceedings completed with judgement
Slide 20: Questions
Questions
Slide 21: Appendix
Appendix
Slide 22: Corporate Overview
Corporate Overview Corum Group Limited (ASX:COO) at 20 Feb 23 Capital Structure Share Price 3.4cps Shares on Issue (m) 597.4 Market Capitalisation $20.31m Options / Perf Rights (m) 3.9 Enterprise Value (Cash 31/12/22) $15.08m Diluted Issued Capital (m) 601.3 Share Price Performance 12c 8 Volume (m)
Slide 23: Profit & Loss
Profit & Loss Profit & Loss ($'000) H1'23 H1'22 H2'22 FY'22 ∆ PCP Revenue $6,122 $6,101 $5,850 $11,951 0.3% Expenses Materials and consumables ($811) ($828) ($571) ($1,399) -2.1% Employee Benefits ($2,791) ($3,098) ($2,940) ($6,038) -9.9% Marketing ($100) ($135) ($129) ($264) -25.9% Technology, comm
Slide 24: Cashflow
Cashflow H1 FY22 H2 FY22 Cash flow ($’000) H1 FY23 $'000 FY22 $'000 $'000 $'000 Cash flows from operating activities Receipts from customers $6,587 $6,682 $5,900 $12,582 Payments to suppliers and employees ($6,474) ($5,990) ($4,849) ($10,839) Interest and other revenue received $37 $13 $16 $29 Resea
Slide 25: Balance Sheet
Balance Sheet Balance Sheet ($'000) 31 December 22 - H1 FY23 30 June 22 - FY22 Current assets Cash and cash equivalents $5,235 $5,759 Trade and other receivables $1,261 $1,085 Inventories $13 $42 Income tax receivable $875 $1,549 Other assets $414 $151 Total $7,798 $8,586 Non-current assets Property
Slide 26: Share Registry
Share Registry Top holders as at 20 February 2023 Rank Name Units % Units 1 LUJETA PTY LTD <MARGARET A/C> 89,480,946 15.0 2 ARROTEX INVESTMENTS HOLDING 1 PTY LTD 60,000,000 10.0 3 NATIONAL NOMINEES LIMITED 40,242,512 6.7 4 MERSAULT PTY LTD <THE ENGLAND FAMILY S/F A/C> 26,766,667 4.5 5 MR DAVID GERAL
Slide 27: Corum Group Limited
Corum Group Limited Contact: [email protected]