bioMerieux SA · EURONEXT:BIM
bioMerieux SA — H1 2018 Earnings Presentation
19 slides from bioMerieux SA's earnings presentation, Sep 5, 2018
Slide 1: H1 2018 Financial Results & 2018 Outlook
H1 2018 Financial Results & 2018 Outlook Investor Presentation – September 5th, 2018 PIONEERING DIAGNOSTICS
Slide 2: Disclaimer
Disclaimer This presentation contains information, assumptions and estimates that were used by the Company to determine its objectives on a reasonable basis. They are subject to change or modification due to economic, financial and competitive uncertainties in markets addressed by bioMérieux. Furthe
Slide 3: Agenda
AGENDA OVERVIEW OF BIOMERIEUX > H1 2018 BUSINESS REVIEW H1 2018 FINANCIAL RESULTS 2018 OUTLOOK
Slide 4: H1 2018 Key Takeaway Messages
H1 2018 KEY TAKEAWAY MESSAGES > SALES > CONTRIBUTIVE Key growth drivers OPERATING INCOME Molecular biology €1,169m €185m Industrial applications +10.4% 15.8% at constant exchange rate and of sales AsPac region scope of consolidation vs. 15.2% in H1 2017 2018 M&A BIOFIRE OBJECTIVES Acquisition of A
Slide 5: H1 2018 sales by geography: strong sales dynamic at 10.4% organic growth
H1 2018 sales by geography: strong sales dynamic at 10.4% organic growth AMERICAS EMEA* ASIA PACIFIC €518m €449m €202m +12.9% +4.8% +16.6% 44% 38% 17% GROUP €1,169m +10.4% 5 * EMEA: Europe, Middle East, Africa
Slide 6: H1 2018 sales by application: growth supported by all product lines
H1 2018 sales by application: growth supported by all product lines €16m 1% INDUSTRY +9.3% €209m MICROBIOLOGY +5.3% [18%] €459m [39%] GROUP €1,169m €263m +10.4% [23%] MOLECULAR +33.0% €222m [19%] IMMUNOASSAYS +0.8% 6
Slide 7: BIOFIRE FILMARRAY leading the way in syndromic testing of infectious diseases
BIOFIRE FILMARRAY® leading the way in syndromic testing of infectious diseases Customers 2,200 Grow the installed base and its consumption Installed base 7,000 units Sales €230m (+40%) 7 available panels (4 respiratory, 1 meningitis, 1 GI, 1 BCID) Enlarge the FILMARRAY® menu FDA filing of
Slide 8: Immunoassays: towards a broader portfolio of high medical value markers
Immunoassays: towards an broaden portfolio of high medical value markers Procalcitonin (PCT) Acute Kidney Injury (AKI) Price pressure due to increased NephroCheck® helps determine if certain Traumatic Brain Injury (TBI) competition hospitalized patients are at risk of developing moderate to severe A
Slide 9: Industry Applications reinforcing leadership with 9% growth in H1 2018
INDUSTRY APPLICATIONS reinforcing leadership with 9% growth in H1 2018 Market bioMérieux growth Customer trends drivers in 2017 needs CAGR 6-8%* Globalization / consolidation Immunoassay VIDAS® FOOD Increased focus on testing Molecular GENE-UP ® to ensure food safety Consumer Safety Pr
Slide 10: Agenda
AGENDA OVERVIEW OF BIOMERIEUX H1 2018 BUSINESS REVIEW > H1 2018 FINANCIAL RESULTS 2018 OUTLOOK
Slide 11: Net sales as of June 30, 2018
Net sales as of June 30, 2018 Currency Change in scope of Organic effect consolidation growth + €118m - €83m + €0m +10.4% o/w > half from USD: - €55m FILMARRAY® Asia*: - €12m LatAm**: - €9m €1,169 €1,134 + 3.1% H1 2017 H1 2018 * CNY, INR, JPY, KRW, SGD, HKD, TWD, THB 11 ** ARS, BRL, CLP, COP, MXN
Slide 12: Consolidated P&L: sales to contributive operating income
Consolidated P&L: sales to contributive operating income as of June 30, 2018 In €m H1 As a % H1 As a % % change % change of sales of sales as reported like-for-like 2018 2017 Net sales 1,169 100% 1,134 100% + 3.1% +10.4% Cost of sales -535 -45.7% -529 -46.7% + 1.1% + 5.7% Gross profit 634 54.3% 605
Slide 13: Consolidated P&L: contributive operating income to EPS
Consolidated P&L: contributive operating income to EPS as of June 30, 2018 In €m H1 As a % H1 As a % % change of sales of sales as reported 2018 2017 Contributive operating income 185 15.8% 172 15.2% + 7.1% BioFire acquisition related costs -9 -9 Operating income 176 15.1% 163 14.4% + 8.2% Net finan
Slide 14: Tax rate as of June 30, 2018
Tax rate as of June 30, 2018 H1 2018 French tax rate 34.4% Foreign & -1.3% reduced tax rates Decrease of recurring tax rate due to US tax US tax reform -7.6% reform Tax credits -3.2% Others (1) 0.2% Recurring effective 22.5% tax rate Positive impact of extraordinary contribution Non-recurring item
Slide 15: Cash flow statement as of June 30, 2018
Cash flow statement as of June 30, 2018 In €m H1 2018 H1 2017 Contributive operating income 185 172 Inventory: - €23m Depreciation and amortization 73 70 Payables: - €5m EBITDA (1) 257 242 Receivables: €13m Operating working capital requirement - 37 - 57 Others: - €22m Income tax paid - 33 - 56 US t
Slide 16: Exposure and sensitivity to foreign currencies
Exposure and sensitivity to foreign currencies FX impact of +/- 5% FX variation vs. EUR FX exposure Estimated impact of +/- 5% FX on contributive operating income on revenues variation vs EUR on contributive (2017 basis) operating income (1) USD & related Others € 3,7m USD & related(2) 41% +/- € 3.7
Slide 17: Agenda
AGENDA OVERVIEW OF BIOMERIEUX H1 2018 BUSINESS REVIEW H1 2018 FINANCIAL RESULTS > 2018 OUTLOOK
Slide 18: Revised 2018 Outlook
Revised 2018 Outlook Sales organic Around 9.5% Estimated €110m of negative FOREX at constant exchange rates impacts growth & scope of consolidation Estimated €40-45m of negative FOREX Contributive €340m to €350m impacts Including impact of Astute acquisition for operating income at current e
Slide 19: Contacts
CONTACTS Ordinary shares (EUR) Sylvain MORGEAU ISIN: FR0013280286 Investor Relations bioMérieux is listed on Euronext Paris [email protected] Reuters: BIOX.PA / Bloomberg: BIM.FP +33 (0)6 01 27 56 46 American Depository Receipt (1:0.1 USD) Reuters: BMXXY.PK / Bloomberg: BMXXY.US Follow