Vitrolife Ab · OMXSTO:VITR
Vitrolife Ab — Shareholder Meeting (April 2011)
37 slides from Vitrolife Ab's shareholder meeting presentation, Apr 27, 2011
Slide 1: Annual General Meeting April 27, 2011
Annual General Solutions for life-critical situations Meeting April 27, 2011 Magnus Nilsson, President & CEO
Slide 2: Agenda
Agenda About Vitrolife World’s best solutions for life-critical situations Fertility Complete, quality assured product portfolio that increases pregnancy rates Transplantation New methods solving the excess demand for organs Stem cell therapy Know-how and technology to become the leading actor Prosp
Slide 3: Our vision and mission
About Vitrolife Our vision and mission Vision Vitrolife strives to be leading in clinical medium and advanced disposables for fertility, cell and tissue therapy. Mission Vitrolife develop, produce and market high-quality systems for the preparation, cultivation and storage of human cells, tissues an
Slide 4: Vitrolife - Shareholders
About Vitrolife Vitrolife - Shareholders Source: Euroclear Sweden AB After 31 March 7 000 more shares have been issued and registered. The total number of shares as per 27 April are 19 559 857. 4
Slide 5: Life-critical situations
About Vitrolife Life-critical situations 100 million couples are living with 20-25% dies on infertility organ waiting list (Source: WHO) 5
Slide 6: Product areas
About Vitrolife Product areas Fertility Stem Cell Therapy Trans- plantation Public- and Private Private and public research Public clinics clinics/laboratories institutions/companies ~ 400 institutions/150 ~ 200 Lung transpl ~ 3,000 clinics companies clinics (~ 2000 in all) Partly subsidized Subsidi
Slide 7: Vitrolife's platform for growth
About Vitrolife Vitrolife’s platform for growth Maturity Fertility Transplantation Stem cells Time 7
Slide 8: Fertility
Fertility Fertility Complete product portfolio that increases pregnancy rates 8
Slide 9: Three main strategies
Fertility Three main strategies 1 Complete line of effective and quality assured IVF products. Retrieval and Fertilization and Transfer of embryo handling of eggs cultivation of to the uterus and sperm embryo 2 Industry leading quality control and cost effective GMP product supply infrastructure. 3
Slide 10: A complete product line
Fertility A complete product line • Acquisition of Conception Technologies,Inc, San Diego. • Increased cost-efficient production capacity of microtools. • Increased market share in North America. • Facility has 30 employees and is FDA licensed and ISO certified as a medical device manufacturer. • Tu
Slide 11: New Vitrolife Labware line
Fertility New Vitrolife Labware line • Collaboration with HertART, acquired 25% of the shares (option to acquire 100%). • Development and launch of 20 labware products during Q2-Q3 2011. • Labware series cover all laboratory steps in an IVF treatment, eliminating risk of contact with embryo toxic ma
Slide 12: World class production and R&D
Fertility World class production and R&D • In-house production from start to finish in order to secure the highest quality. • Focus on the highest quality, safety and efficiency. • Cooperation with leading experts and scientists. • Forming partnerships through close collaboration with customers. 12
Slide 13: Reaching the global market
Fertility Reaching the global market 13
Slide 14: Vitrolife regions and the Global market situation
Fertility Vitrolife regions and the Global market situation Europé GR Vitrolife 1% Asia GR Tot. M 5% GR Vitrolife 25% 47% GR Tot.M 11% (43 %) 18% 17% (29%) (13%) America 13% GR Vitrolife 18% GR Tot. M 5% (11%) 5% Emerging markets Pacific (3%) GR Vitrolife 20% GR Vitrolife 28% GR Tot. M 6% GR Tot.M 5
Slide 15: Highlights 2010
Fertility Highlights 2010 New complete series of Vitrolife Labware has been developed in • Saving time and money for clinics collaboration with HertART Acquisition of IVF products from Conception Technologies Inc, • Final steps to a complete product line USA The 2010 Nobel Prize was awarded for the
Slide 16: 2011 – Regional Developments
Fertility 2011 – Regional Developments Americas – Market recovering. Vitrolife has the largest sales force resulting in accelerating growth. Asia - Rapidly growing market. Vitrolife’s fastest growing market. Northern Europe – Moderately growing market. Vitrolife is growing faster than the market. So
Slide 17: Sales development
Fertility Sales development (rolling 12 months) 2010: 254 (233) MSEK +19% Loc curr +8% mSEK 17
Slide 18: New methods solving the excess demand for organs
Trans- plantation New methods solving the excess demand for organs 18
Slide 19: Life-critical situations
Trans- plantation Life-critical situations • Organ donor shortage – High waiting list mortality rates: 20-25% • Low utilization of lungs – Only 15-20% used from SCD (Standard Criteria Donor) • Donor lungs are frequently damaged 19
Slide 20: Vitrolife's solutions
Trans- plantation platation Vitrolife’s solutions Perfadex STEEN Solution™ • 95% of the world market • More than 70 lung patients • Significant increase in now transplanted survival rates • 12 patient clinical study and • Diminished risk of organ marketing clearance in the rejection USA • Will still
Slide 21: Goals and strategy
Trans- plantation Goals and strategy Continued investment in training and demonstrations, attendance at conferences, user workshops, site visits, etc. Finalize clinical studies in Continued introduction of North America and obtain STEEN Solution™, primarily in market approval for STEEN Europe and Au
Slide 22: Market potential
Trans- plantation Market potential STEEN Solution™ Perfadex incl disposables Costs for products per Transplantation (SEK) ~ 10,000 > 80,000 Potential number of lung ~ 3,000 > 20,000 transplantations Total market potential*, ~ 40 > 1,600 lungs only (SEK million) * Including research market This metho
Slide 23: Highlights 2010
Trans- plantation Highlights 2010 • Improved survival with Perfadex New studies • Increased number of available lungs for transplantation with STEEN Solution™ Continuing clinical development • More than 70 patients now transplanted with of STEEN Solution™ STEEN Solution™ Preparation for market clear
Slide 24: Sales development
Trans- plantation Sales development (rolling 12 months) 2010: 44 (40) MSEK +17% Loc curr +9% SEK 24
Slide 25: Know-how and technology to become the leading actor
Stem Cell Therapy Know-how and technology to become the leading actor 25
Slide 26: Vitrolife and stem cell therapy
Stem Cell Therapy Vitrolife and stem cell therapy Stem cell therapy has potential to revolutionise health science The therapy is approaching a clinical breakthrough Vitrolife is well positioned to become market leader 26
Slide 27: Market potential
Stem Cell Therapy Market potential Market for different clinical stem cell products 200 180 Strongest 180 160 140 growth 140 MSEK 120 110 100 80 60 50 50 50 40 20 0 27
Slide 28: Goals and strategy
Stem Cell Therapy Goals and strategy • Development of a new “clinical grade”stem cells product line • Establish further complimentary external commercial partnership • Launch of two new products during 2011 28
Slide 29: Vitrolife's prospects for 2011
Vitrolifes prospects for 2011 Vitrolife’s areas of focus in 2011 aim to support Vitrolife’s overall strategy of ensuring good continuous growth, together with gradually developed profitability. • developing, strengthening and expanding the product portfolio within all three product areas • constantl
Slide 30: Financials
Financials The financial year 2010 was a year with stable growth in sales and continuing strategic investments. This trend has continued first quarter 2011. 30
Slide 31: First Quarter 2011 in brief
Financials First Quarter 2011 in brief • Continued good sales growth and continued strategic investments • The products and the business acquired from Conception Technologies during quarter four 2010 are now fully integrated in Vitrolife’s subsidiary in Denver. • Important strategic investments so a
Slide 32: Financial stability and potential
Financials Financial stability and potential Financially stable company Enables future growth • Profitable since 2003 • Innovative research • Q1 2011: 31 consecutive company quarters of profit • Growing faster than the • Strong capital base market • High gross margin • Low market saturation • Q1 201
Slide 33: Sales development SEK vs LC
Financials Sales development SEK vs LC 254 (233) MSEK +19 Sales in SEK (rolling 12 months) Sales growth in local currency, percent 33
Slide 34: First Quarter 2011 in brief
Financials First Quarter 2011 in brief Sales 88 MSEK, +28% loc curr Gross margin 67% EBIT 10 MSEK, +1% Pre tax profit 12 MSEK, +17% Equity/asset ratio 74% Earnings per share 0.45 SEK Cash flow from op act 4 MSEK 34
Slide 35: Other Keys Ratios
Financials Other Keys Ratios Jan-March Whole year MSEK 2011 2010 2010 2009 Operating margin, % 12 13 11 11 Operating margin before R&D, % 25 28 26 25 EBITDA, % 16 19 16 17 Net margin, % 10 13 10 12 Earning per share (SEK) 0.45 0.50 1.48 1.75 Equity/assets ratio, % 84 74 76 87 Shareholders’ equity pe
Slide 36: Cash flow
Financials Cash flow Jan-March Whole year MSEK 2011 2010 2010 2009 Cash flow from operating activities 4 7 48 41 Cash flow from investing activities -15 -7 –78 –33 Cash flow from financing activities 10 0 33 -6 Cash flow for the period 0 0 3 2 Liquid funds at beginning of period 17 16 16 14 Exchange
Slide 37: Questions?
Investing in the futureQ Questions? 37