vitrolifeabsummary q3. 2 sales of 378 msek (284) equals +33% in sek sales increased by 27% in local...

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VITROLIFE AB 1 Interim report January – September 2019 2019-11-06 Thomas Axelsson, CEO Mikael Engblom, CFO

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Page 1: VITROLIFEABSUMMARY Q3. 2 Sales of 378 MSEK (284) equals +33% in SEK Sales increased by 27% in local currencies, whereof 15% organic growth ... Vitrolife has developed 3 new media containing

VITROLIFE AB

1

Interim report January – September 2019

2019-11-06

Thomas Axelsson, CEO

Mikael Engblom, CFO

Page 2: VITROLIFEABSUMMARY Q3. 2 Sales of 378 MSEK (284) equals +33% in SEK Sales increased by 27% in local currencies, whereof 15% organic growth ... Vitrolife has developed 3 new media containing

SUMMARY Q3

2

Sales of 378 MSEK (284) equals +33% in SEK Sales increased by 27% in local currencies,

whereof 15% organic growth EBITDA of 155 MSEK (121) corresponding to

a margin of 41% (43).

Page 3: VITROLIFEABSUMMARY Q3. 2 Sales of 378 MSEK (284) equals +33% in SEK Sales increased by 27% in local currencies, whereof 15% organic growth ... Vitrolife has developed 3 new media containing

SALES AND GROWTH PER MARKET REGION

3

Total +27%*

Q3 GROWTH RATE COMPARED TO LAST YEAR IN LOCALCURRENCIES

SHARE OF VITROLIFE’S SALESROLLING 12-MONTHS 18%

+35%

26%41%

* Whereof organic growth +15 percent

15%

+26% +69%+4%

Page 4: VITROLIFEABSUMMARY Q3. 2 Sales of 378 MSEK (284) equals +33% in SEK Sales increased by 27% in local currencies, whereof 15% organic growth ... Vitrolife has developed 3 new media containing

SALES AND GROWTH PER BUSINESS UNIT

4

+1%

+11%

+45%TIME-LAPSE

DISPOSABLE DEVICES

MEDIA

ART EQUIPMENT

Quarterly growthLocal currencies

SEK millions, rolling 12m

543 545 543 562 584 606 634 644 650

150 148 151 149 153 167 168 176 184233 254 271 267 282 297 302 343 38280 78 80 65 61 58 51 54 6020

5491

0

200

400

600

800

1000

1200

1400

1600

Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3

20192017

+35%

2018

GENOMICS

Page 5: VITROLIFEABSUMMARY Q3. 2 Sales of 378 MSEK (284) equals +33% in SEK Sales increased by 27% in local currencies, whereof 15% organic growth ... Vitrolife has developed 3 new media containing

INVESTMENTS IN MEDIA DEVELOPMENT

5

Antioxidant combination in media

Vitrolife has developed 3 new media containing a combination of 3 antioxidants. A patent is currently pending in several regions/countries.

Clinical data was presented at the 2019 ASRM conference. The multicenter randomized control trial performed demonstrated that embryo culture media containing a combination of 3 antioxidants resulted in a significant increase in implantation rate and ongoing pregnancy rate in patients with advanced maternal age (>35 years old).

US launch of RapidVit™ Oocyte and RapidWarm™ Oocyte at ASRM

FDA 510k approval during the third quarter.

US market for freezing unfertilized eggs is extensive and growing rapidly.

Upgrade of media range in China

National Medical Products Administration (NMPA) registration process ongoing.

Global harmonization of media range.

Page 6: VITROLIFEABSUMMARY Q3. 2 Sales of 378 MSEK (284) equals +33% in SEK Sales increased by 27% in local currencies, whereof 15% organic growth ... Vitrolife has developed 3 new media containing

KEY FINANCIALS GROUP Q3

2019 Q3

2018 Q3

2019 Q1-Q3

2018 Q1-Q3

Sales, MSEK 378 284 1 071 831

Gross Margin % 64% 66% 64% 66%

Adj. Gross Margin %* 67% 70% 67% 70%

EBITDA, MSEK 155 121 428 343

EBITDA Margin % 41% 43% 40% 41%

Earnings per share, SEK** 0.98 0.69 2.64 2.08

Net Debt / EBITDA rolling 12m -1.1 -1.1 -1.1 -1.1

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• Fluctuations in exchange rates positively impacted EBITDA by 9 MSEK.• EBITDA margin improved by approximately 1 percentage point due to IFRS 16.• EBITDA margin was negatively impacted by product mix due to the addition of Genomics.

* Gross margin excluding amortisation of acquisition-related intangible assets** Recalculated with regard to the 5:1 share split carried out in May 2018.

Page 7: VITROLIFEABSUMMARY Q3. 2 Sales of 378 MSEK (284) equals +33% in SEK Sales increased by 27% in local currencies, whereof 15% organic growth ... Vitrolife has developed 3 new media containing

OUTLOOK

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Long-term market growth 5-10% in monetary terms

Expansion of sales

Broadening the product offering

Page 8: VITROLIFEABSUMMARY Q3. 2 Sales of 378 MSEK (284) equals +33% in SEK Sales increased by 27% in local currencies, whereof 15% organic growth ... Vitrolife has developed 3 new media containing

Contact: Thomas Axelsson, CEO, [email protected], +46 31 721 80 01Mikael Engblom, CFO, [email protected], +46 31 721 80 14

Page 9: VITROLIFEABSUMMARY Q3. 2 Sales of 378 MSEK (284) equals +33% in SEK Sales increased by 27% in local currencies, whereof 15% organic growth ... Vitrolife has developed 3 new media containing

DISCLAIMER

This presentation contains estimates and forward-looking statements, which reflect the Management’s current views with respect to the market, certain future events and financial performance. Although the statements are based upon estimates the Management believes to be reasonable, there is no assurance that these statements are correct or will be achieved. The most important strategic and operative risks regarding Vitrolife’s business and field are described in the Management report, in the Annual Report. These are primarily constituted by macro-economic risks, operational risks and financial risks.

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