Ypsomed Holding AG · SIX:YPSN
Ypsomed — FY2008/09 Earnings Presentation
38 slides from Ypsomed's earnings presentation, May 26, 2009
Slide 1: Presentation of Annual Results 2008/09
Presentation of Annual Results 2008/09 Solothurn, 26 May 2009
Slide 2: Important Notice
Important Notice "This presentation constitutes neither an offer to sell nor a solicitation to buy any securities and it does not constitute a prospectus within the meaning of Article 652a of the Swiss Code of Obligations or within the meaning of the Listing Rules of SIX Swiss Exchange. Investors sh
Slide 3: Agenda
Agenda y Presentation of Annual Results 2008/09 1. Highlights 2008/09 2. Financials 2008/09 3. Business Update 2008/09 4. Outlook y Information regarding capital increase 2009 y Questions and Answers 3 Ypsomed Holding AG | Presentation of Annual Results 2008/09
Slide 4: Highlights 2008/09
Highlights 2008/09 y Ypsomed generated sales of CHF 272.6 million and improved the EBIT margin to 11.2% despite slightly lower revenues. y Ypsomed has experienced strong sales growth with pen needles and in the diabetes direct business, but compared to the previous year overall sales were lower by 5
Slide 5: Key Financials 2008/09
Key Financials 2008/09 CHF million 2008/09 2007/08 Δ in % Sales of goods and services 272.6 287.5 -5.2% Gross profit 84.0 90.2 -6.9% Gross profit in % 30.8 31.4 Operating profit 30.4 31.0 -1.8% Operating profit in % 11.2 10.8 Net profit 26.2 26.6 -1.6% Net profit in % 9.6 9.2 5 Ypsomed Holding AG |
Slide 6: Ypsomed Has Improved Efficiency and Reduced Costs
Ypsomed Has Improved Efficiency and Reduced Costs y Ypsomed has re-engineered and simplified manufacturing and logistics processes and thereby achieved better efficiency and reduced operating costs. y Successful start-up of the new production and logistics center in Burgdorf (Buchmatt). y Business p
Slide 7: Success Through Competent and Motivated Employees
Success Through Competent and Motivated Employees y Ypsomed is a secure employer thanks to good growth prospects. y As of 31 March 2009 the Ypsomed Group employed a total of 1 209 employees thereof over 40 apprentices in seven different occupational areas. CH Outside CH 105 146 157 97 116 141 1042 1
Slide 8: Agenda
Agenda y Presentation of Annual Results 2008/09 1. Highlights 2008/09 2. Financials 2008/09 3. Business Update 2008/09 4. Outlook y Information regarding capital increase 2009 y Questions and Answers 8 Ypsomed Holding AG | Presentation of Annual Results 2008/09
Slide 9: Strong Diabetes Sales Growth
Strong Diabetes Sales Growth CHF million 2008/09 2007/08 Δ in % Sales of goods and services 272.6 287.5 -5.2% Segment "Delivery Devices" 209.0 228.4 -8.5% Segment "Diabetes Direct Business" (DDB) 63.6 59.0 7.7% y Delivery Devices comprises the product groups pen systems, pen needles, precision turne
Slide 10: Profitability Improved – EBIT Margin of 11.2%
Profitability Improved – EBIT Margin of 11.2% CHF million 2008/09 in % 2007/08 in % Δ in % Sales of goods and services 272.6 100.0% 287.5 100.0% -5.2% Cost of goods and services sold -188.6 -69.2% -197.3 -68.6% -4.4% Gross profit 84.0 30.8% 90.2 31.4% -6.9% Licensing revenues 1.1 0.4% 2.3 0.8% -51.1
Slide 11: EBITDA Margin Improved From 19.2% to 20.7%
EBITDA Margin Improved From 19.2% to 20.7% CHF million 2008/09 in % 2007/08 in % Operating profit 30.4 11.2% 31.0 10.8% Depreciation of fixed assets 24.3 8.9% 22.7 7.9% Amortization of intangible assets 1.8 0.6% 1.7 0.6% EBITDA 56.5 20.7% 55.3 19.2% 11 Ypsomed Holding AG | Presentation of Annual Res
Slide 12: Net Profit of CHF 26.2 million – Par Value Repayment of CHF 0.60 per share
Net Profit of CHF 26.2 million – Par Value Repayment of CHF 0.60 per share CHF million 2008/09 in % 2007/08 in % Δ in % Operating profit 30.4 11.2% 31.0 10.8% -1.8% Financial income 2.3 0.8% 2.4 0.8% -3.7% Financial expense -6.9 -2.5% -4.1 -1.4% 69.4% Other non-operating income / (expense) 0.3 0.1%
Slide 13: Strong Balance Sheet with High Investments in Fixed Assets
Strong Balance Sheet with High Investments in Fixed Assets CHF million 31.03.2009 in % 31.03.2008 in % Assets Cash and cash equivalents 9.0 1.4% 38.3 6.0% Marketable securities 2.3 0.4% 20.0 3.1% Trade receivables 30.6 4.8% 30.0 4.7% Other current assets 10.3 1.6% 11.2 1.8% Current income tax assets
Slide 14: Further Improvement of the Equity Ratio to 69.1%
Further Improvement of the Equity Ratio to 69.1% CHF million 31.03.2009 in % 31.03.2008 in % Liabilities and equity Trade payables 15.1 2.4% 16.9 2.7% Prepayments from customers 4.7 0.7% 6.4 1.0% Current income taxes payable 1.3 0.2% 1.9 0.3% Other payables and accrued expenses 20.2 3.2% 20.6 3.2% P
Slide 15: Positive Operating Cash Flow
Positive Operating Cash Flow CHF million 2008/09 2007/08 Cash flow from operating activities before changes in net working capital 57.3 56.8 Changes in net working capital -8.9 13.4 Cash flow from operating activities 48.4 70.2 Purchases of fixed assets -43.7 -42.7 Purchase of intangible assets -15.
Slide 16: Agenda
Agenda y Presentation of Annual Results 2008/09 1. Highlights 2008/09 2. Financials 2008/09 3. Business Update 2008/09 4. Outlook y Information regarding capital increase 2009 y Questions and Answers 16 Ypsomed Holding AG | Presentation of Annual Results 2008/09
Slide 17: Ypsomed Strategy
Ypsomed Strategy 17 Ypsomed Holding AG | Presentation of Annual Results 2008/09
Slide 18: Ypsomed Wins Important New Pharma Customers
Ypsomed Wins Important New Pharma Customers y Ypsomed signed 4 contracts with large pharma customers for new injection systems based on its own technology platforms. y The new injection systems are for drugs either already on the market or in the approval process. The production volumes could become
Slide 19: Ypsomed Technology Platforms
Ypsomed Technology Platforms 19 Ypsomed Holding AG | Presentation of Annual Results 2008/09
Slide 20: Partnership with Sanofi-Aventis
Partnership with Sanofi-Aventis y Sales volumes with Ypsomed’s pen systems for Sanofi-Aventis have decreased as communicated. y Very good collaboration and high satisfaction with the delivered product quality y The preparation of the production of components for the SoloStar® disposable pen from San
Slide 21: Ypsomed's Pen Needle Business is Expanding
Ypsomed’s Pen Needle Business is Expanding y Ypsomed’s pen needle business increased by over 20% for the fifth time in a row. y Expanded distribution in existing and new countries such as Canada and Egypt. y Ypsomed successfully won three new key accounts in the US. The Clickfine® pen needle is now
Slide 22: Bionime Equity Stake Strengthens Partnership
Bionime Equity Stake Strengthens Partnership y A 10% equity stake in Bionime Corp., Taichung (Taiwan) was taken for CHF 6.4 million. y Successful preparation for the sales start of the blood glucose monitoring systems from Bionime as of 20th May in Germany. y In the future, Ypsomed could see opportu
Slide 23: Launch of the new Blood Glucose Monitoring System Pura
Launch of the new Blood Glucose Monitoring System Pura™ y The Pura™ blood glucose monitoring system expands the existing range of diabetes care products offered by Ypsomed’s European subsidiaries and strengthens its Diabetes Business. y Ypsomed will start selling Pura™ step by step in Germany, Franc
Slide 24: Blood Glucose Monitoring System Pura
Blood Glucose Monitoring System Pura™ Good visible control window for visual control Simple handling – test strips are ‘clicked’ in, of blood volume measurement starts automatically The test strip can be removed without contact with blood Autocoding Measurement results after five seconds Easy to rea
Slide 25: Blood Glucose Monitoring System Pura
Blood Glucose Monitoring System Pura™ 25 Ypsomed Holding AG | Presentation of Annual Results 2008/09
Slide 26: Blood Glucose Monitoring System Pura
Blood Glucose Monitoring System Pura™ 26 Ypsomed Holding AG | Presentation of Annual Results 2008/09
Slide 27: Diabetes Direct Business
Diabetes Direct Business y Acquisitions of Sanitavital and Medizin Service Flemming by DiaExpert in Germany was completed by January 1st 2009. DiaExpert offers in Germany: y Professional and individual diabetes consultation y Competence and experience in insulin pump therapy y Insulin pumps and acce
Slide 28: Continuous Injection Device – New Ways for Treating Diabetes
Continuous Injection Device – New Ways for Treating Diabetes y The new therapy concept and device for continuous insulin injection has the goal to achieve a better metabolic control at reasonable costs. y Leading diabetologists and health insurance representatives confirm that Ypsomed is on the righ
Slide 29: Social Responsibility and the Environment
Social Responsibility and the Environment Selected Measures: y Opening of the new day care center (KITA) in Burgdorf y Support for Dream Trust in India y Ypsomed Innovation fond and Award for successful technology transfer y Promotion of education and training y Improvement of ergonomics in the work
Slide 30: Agenda
Agenda y Presentation of Annual Results 2008/09 1. Highlights 2008/09 2. Financials 2008/09 3. Business Update 2008/09 4. Outlook y Information regarding capital increase 2009 y Questions and Answers 30 Ypsomed Holding AG | Presentation of Annual Results 2008/09
Slide 31: Ypsomed Product-Pipeline
Ypsomed Product-Pipeline 31 Ypsomed Holding AG | Presentation of Annual Results 2008/09
Slide 32: Outlook – Promising Prospects for Growth
Outlook – Promising Prospects for Growth y Ypsomed is very well positioned in the attractive growth markets of self-medication and diabetes care. y For the business year 2009/10 Ypsomed is expecting a single digit percentage increase in sales combined with a slightly lower EBIT margin due to the cos
Slide 33: Important Dates
Important Dates: y Annual Shareholder Meeting: 24 June 2009 BEA Bern Expo in Bern y Presentation of Semi-annual Results 2009/10 3 November 2009 Franz Gertsch Museum, Burgdorf y Presentation of Annual Results 2009/10 25 May 2010 33 Ypsomed Holding AG | Presentation of Annual Results 2008/09
Slide 34: Agenda
Agenda y Presentation of Annual Results 2008/09 1. Highlights 2008/09 2. Financials 2008/09 3. Business Update 2008/09 4. Outlook y Information regarding capital increase 2009 y Questions and Answers 34 Ypsomed Holding AG | Presentation of Annual Results 2008/09
Slide 35: Information on the Capital Increase 2009
Information on the Capital Increase 2009 y Objectives: to further strengthen the equity ratio and secure the independent financing of the future growth of the company y Size: capital increase of approx. CHF 100 million y Subscription ratio: per 8 existing shares 1 new share y Subscription rights: gr
Slide 36: Information on the Capital Increase 2009
Information on the Capital Increase 2009 y Capital increase: converting a part of the existing shareholder's loan of CHF 140 million into shares and paid-in cash by minority shareholders y Shareholder loan: the shareholder loan outstanding after the transaction has been extended on a long-term basis
Slide 37: Agenda
Agenda y Presentation of Annual Results 2008/09 1. Highlights 2008/09 2. Financials 2008/09 3. Business Update 2008/09 4. Outlook y Information on the capital increase 2009 y Questions and Answers 37 Ypsomed Holding AG | Presentation of Annual Results 2008/09
Slide 38: Questions and Answers
Questions and Answers 38 Ypsomed Holding AG | Presentation of Annual Results 2008/09