Vitrolife AB · OMXSTO:VITR
Vitrolife AB — Shareholder Meeting (2024)
23 slides from Vitrolife AB's shareholder meeting presentation, Apr 25, 2024
Slide 1: Anförande av verkställande direktören
7. Anförande av verkställande direktören (Presentation på engelska) 8
Slide 2: Introduction to Bronwyn Brophy
Introduction to Bronwyn Brophy • Appointed CEO of Vitrolife AB on 1st August 2023 • 26 years working in the Medtech and Life Sciences industries • Former Vice Chair of Medtech Europe serving on the Operations Management Committee • Passionate about innovation and improved access in healthcare 9
Slide 3: The IVF Market
VITROLIFE GROUP™
Slide 4: Significant market opportunity in reproductive health
Significant market opportunity in reproductive health Successful treatment outcomes ~33% *** 1 in 6 134 M Access and affordability constraining 5-7% people globally is babies born annually** estimated cycle growth affected by infertility* < 1% via IVF growth 11 *Source: World Health Organization **S
Slide 5: Improvement in treatment outcomes is needed
Improvement in treatment outcomes is needed Less than half of all embryos transferred today, result in pregnancy IVF birth rates have risen for patients under 43 in the last 30 years Birth rates per embryo transferred using patient eggs by age band, 1991-2018, 2019 data 35% Under 35 30% 25% 35-37 Bi
Slide 6: Global access and affordability to IVF treatment is improving
Global access and affordability to IVF treatment is improving Country 2022 IVF treatments % of total China 1,045 25% Japan 511 12% USA 387 9% India 176 4% Russia 149 4% Spain 143 3% Other countries 1,746 42% Global 4,157 100% 13 Source: Combination of public sources (NPESU, CDC, SART, CARTR, JSOG, E
Slide 7: Key IVF market dynamics – How can we bring value to the ecosystem
Key IVF market dynamics – How can we bring value to the ecosystem Growth in demand Increase IVF capacity and accessibility Clinics labour and skills shortage Automation and digitalisation Consolidation of clinics Standardisation and scalability Diverse portfolio to address differences in Regionalisa
Slide 8: The Vitrolife Group
The Vitrolife Group 15
Slide 9: Mission and Vitrolife Group at a glance
Integrity Mission Be the leading global partner in reproductive health, Quality striving for better treatment outcomes for patients Global presence in Employees Sales in 2023 Innovation 125 markets ~ 1,100 3,512MSEK Collaboration 16
Slide 10: Vision: Enable people to fulfill the dream of having a healthy baby
Vision: Enable people to fulfill the dream of having a healthy baby Portfolio covering every step of the IVF journey combined with best-in-class quality, service and training IVF process Prenatal & Postnatal Pretreatment 17
Slide 11: The Vitrolife Group is uniquely positioned to serve different standards of care
The Vitrolife Group is uniquely positioned to serve different standards of care Two methods for embryo evaluation PGT-M PGT-A EMBRACE 1 Time-lapse technology-based assessment 2 Genetic assessment EmbryoScope® uses AI-based algorithms to analyse full course Analysis of embryo DNA to determine existen
Slide 12: Holistic embryo evaluation
Holistic embryo evaluation THE EMBRYO Comprehensive embryo evaluation combining EmbryoScope® and EMBRACE 19
Slide 13: IVF will become more automated and integrated – our platform approach
IVF will become more automated and integrated – our platform approach Egg retrieval Sperm processing Insemination and ICSI Embryo culture and evaluation Transfer/Cryopreservation Consumables tracking Equipment Quality Control Sample and procedure tracking AI 20
Slide 14: Corporate Strategy Vitrolife Group
Corporate Strategy Vitrolife Group Our values Integrity Market Growth Labour and Patient megatrends in demand skills shortage Consolidation Regionalisation empowerment Quality Vision with a purpose Long-term growth and profit-targets ”Enable people to fulfil the dream of having a healthy baby” Annua
Slide 15: Financial result Full year 2023 / First quarter 2024
Financial result Full year / 2023 First quarter /2024 22
Slide 16: Full year 2023: Continued growth with margin expansions
Full year 2023: Continued growth with margin expansions Sales Organic growth* Gross margin 3,512 MSEK +5% 56.3% (3,234 MSEK) +10% in SEK In local currencies (55.0%) EBITDA Operating cash flow Earnings per share 1,136 MSEK 757 MSEK 3.31* SEK Margin 32.3% (32.5%) (636 MSEK) (2.91 SEK) * Adjusted for i
Slide 17: Sales and growth per geographical segment full year 2023
Sales and growth per geographical segment full year 2023 Americas EMEA APAC Total Organic growth* -4% +5% +14% +5%** Sales (MSEK) 1,159 1,286 1,066 3,512 Share of total sales 33% 37% 30% * Organic growth in local currencies **Total organic growth excluding discontinued business 24
Slide 18: Key financials full year 2023
Key financials full year 2023 2023 2022 Income statement adjusted for non-cash impairment charge in accordance with IFRS Sales, MSEK 3,512 3,234 of SEK 4,300 million. Gross Margin, % 56.3 55.0 - Impacting goodwill attributed to the acquisition of EBITDA 1,136 1,050 Igenomix in 2021 - Partially cause
Slide 19: First quarter 2024: Strong growth in APAC and solid margins
First quarter 2024: Strong growth in APAC and solid margins Sales Organic growth Gross margin 841 MSEK 0% 57.1% (854 MSEK) -2% in SEK In local currencies (56.8%) EBITDA Operating cash flow Earnings per share 272 MSEK 198 MSEK 0.85 SEK Margin 32.4% (30.6%) (160 MSEK) (0.74 SEK) 26
Slide 20: Corporate Strategy Vitrolife Group
Corporate Strategy Vitrolife Group Our values Integrity Market Growth Labour and Patient megatrends in demand skills shortage Consolidation Regionalisation empowerment Quality Vision with a purpose Long-term growth and profit-targets ”Enable people to fulfil the dream of having a healthy baby” Annua
Slide 21: Sustainability strategy: grounded in our values, driven by our mission
Sustainability strategy: grounded in our values, driven by our mission Sustainability strategy Year 2023 and Q1 2024 highlights Purpose-driven growth Increase in Customer Net Promoter Score to 55 (+5) Ethical profitability Included in the new OMX Sweden Small Cap 30 ESG Responsible Index Planet acco
Slide 22: Focus for the rest of the year
Focus for the rest of the year Priority Progress Senior Vice President North America appointed April 1st Increase share and penetration in the US & China Increased direct commercial headcount in China Scaled up manufacturing capabilities to meet increased Increase market share in Consumables d
Slide 23: Q&A Thank you!
Q&A Thank you!