Tristel Plc · LSE:TSTL
Tristel — H1 2014-15 Earnings Presentation
15 slides from Tristel's earnings presentation, Dec 31, 2014
Slide 1: Interim results presentation 31 December 2014
plc Interim results presentation 31 December 2014 Paul Swinney - CEO Liz Dixon - FD 1
Slide 2: Financial highlights
Financial highlights • Revenue up 15% to £7.4m (2013: £6.4m) • International sales up 26% to £2.4m (2013: £1.9m) • Pre-tax profit before share based payments up 57% to £1.1m (2013: £0.7m) • EBITDA up 23% to £1.5m (2013: £1.2m) • Basic EPS up 85% to 1.91p (2013: 1.03p) • Interim dividend of 0.585p pe
Slide 3: Brand portfolio
Brand portfolio A proprietary chlorine dioxide formulation addressing three distinct markets: HUMAN HEALTHCARE CONTAMINATION CONTROL ANIMAL HEALTHCARE MARKET MARKET MARKET Infection prevention in Contamination control in critical Infection prevention in hospitals environments veterinary practices 86
Slide 4: Corporate strategy
Corporate strategy Tristel holds a unique position in high-level instrument disinfection in the ambulatory care market and in sporicidal surfaces disinfection in the hospital setting. Our products represent innovations that we believe to be disruptive to existing technology. Our business model is ch
Slide 5: Portfolio strategy
Portfolio strategy HUMAN HEALTHCARE CONTAMINATION CONTROL ANIMAL HEALTHCARE MARKET MARKET MARKET Hospital infection Critical environment Veterinary practice prevention contamination control infection prevention • In the UK – not yet approaching • Offer ClO2 as a higher • Offer ClO2 as a safer altern
Slide 6: Financial strategy
Financial strategy • Goal 1 Revenue of £20m (50% growth on 2013-14) by 2016-17. 15% year on year growth achieved in 2014-15 H1 – on target • Goal 2 +29% At least a 15% net margin 2014-15 with upside potential to be arrived at from operational gearing. Gross profit 72% Gross profit 50% 15% net margin
Slide 7: Short term goals – upskill and upscale
Short term goals – upskill and upscale • £400k investment in 20,000 sq ft factory, office & warehouse, increasing space and efficiency. Completed October 2014 • £160k investment in SAP ERP system to be rolled out across the Group, increasing control and efficiency. To be completed 30 June 2015 • £15
Slide 8: Revenue
Revenue H1 2013-14 2013-14 2014-15 year on H1 H2 H1 year £,000 £,000 £,000 Growth UK Human healthcare 3,809 3,630 4,230 11% Contamination control 451 499 518 15% Animal healthcare 231 319 258 12% 4,491 4,448 5,006 11% Rest of the world +29% Human healthcare 1,727 2,352 2,092 21% Gross profit 72% Con
Slide 9: International growth
International growth Tristel UK £5m (up 11%) Subsidiaries & branches in 5 countries £1.5m (up 20%) International distributors 36 countries £0.9m (up 29%) 9
Slide 10: Income Statement
Six months Six months Income Statement ended ended 31.12.14 31.12.13 £’000 £’000 Turnover 7,412 6,442 Cost of sales (2,301) (1,952) Gross profit 5,111 4,490 Gross margin % 69% 70% Administrative expenses (3,600) (3,296) Net interest expense 3 (4) Depreciation & amortisation (422) (449) Share based p
Slide 11: Balance Sheet
Balance Sheet 31.12.14 31.12.13 Non-current assets £’000 £’000 Goodwill 667 667 Intangible assets 5,593 5,584 Property, plant and equipment 1,319 1,159 Deferred tax 44 306 7,623 7,716 Current assets Inventories 1,997 1,836 Trade and other receivables 2,764 2,431 Cash and cash equivalents 2,945 1,621
Slide 12: Balance Sheet - continued
Balance Sheet - continued 31.12.14 31.12.13 Capital and reserves £’000 £’000 Share capital 407 400 Share premium account 9,517 9,151 Merger reserve 478 478 Foreign exchange reserve (101) (105) Retained earnings 2,323 1,434 Non-controlling interests 7 14 Total equity 12,631 11,372 Current liabilities
Slide 13: Cashflow
Cashflow Six months Six months ended ended 31.12.14 31.12.13 £’000 £’000 Net cash generated from operating activities 1,000 1,600 Purchase of tangible fixed assets (244) (285) Interest received (paid) 7 (4) Free cash flow 763 1,311 Purchase of intangible fixed assets (181) (197) Proceeds from sale o
Slide 14: A clear way forward
A clear way forward… Grow existing revenue streams organically Extend our competitive edge Develop new applications ClO2 into Contamination Control & Animal Healthcare Venture into new geographies …a long way to go. 14
Slide 15: Good ideas from Tristel
Good ideas from T. +44 (0)1638 721500 – [email protected] – www.tristel.com 15