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El.En. — Investor Presentation 2018
Mar 27, 2018
4393_cp_2018-03-27_fc36d2a8-0df2-4c28-a78f-655b6e273ffe.pdf
Investor Presentation
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Star Conference, Milan 27/28.03.2018
DISCLAIMER
Certain statements in this slide show, including those addressing the Company's beliefs, plans, objectives, estimates or expectations of possible future results or events, are forward-looking statements. Forward-lookingstatements involve known or unknown risks, including general economic and business conditions, and conditions in the industry we operate and may be affected should our assumptions turn out to be inaccurate. Consequently, no forward-looking statement can be guaranteed and actual future results, performance, or achievements may vary materially from those expressed or implied by such forward-looking statements. The Company undertakes no obligation about the contents nor to update the forward-looking statements to reflect events or circumstances that may arise after the date hereof.
AGENDA
El.En.
A Primary Player Providing Medical, Industrial, and Conservation Laser Solutions Worldwide
Hi-Tech company
Hi-Tech industrial group active in opto-electronics with proprietary technologies and know how developed over 35 years
International Group
More than 20 companies active worldwide on several markets and application segments. Listed on the Milan Stock Exchange, Star segment since 2000
Among the leaders in the global market
Progressively widening its worldwide presence registering continuous growth over the years
Worldwide distribution network
More than 40,000 laser sources sold and 5% of revenue invested in R&D
Constant and sustainable growth
14% Revenue CAGR 2011 – 2017
35% EBIT CAGR 2011 – 2017
FY 2017 Consolidated Revenue: €306m, up 21% YoY
A path of growth
in Euro million
Our Markets
Medical& Aesth energy-based systems market
| \$ l l i i U S m o n |
2 0 1 4 |
2 0 1 6 |
2 0 2 1 |
C A G R |
C A G R |
|---|---|---|---|---|---|
| 1 4- 1 6 |
1 6- 2 1 |
||||
| l b l d l l G i i i i o a n o n- n v a s v e a n m n m a y |
|||||
| d l h i i i i t t t t t n v a s v e m e c a a e s e c r e a m e n |
|||||
| t s y s e m s |
6. 9 3 2 |
8. 4 3 7 |
1 3. 9 9 2 |
1 0 % |
1 1 % |
| b d E t t t t n e r g y a s e r e a m e n s y s e m s - |
2. 0 3 3 |
2. 6 7 0 |
4. 3 8 0 |
1 5 % |
1 0 % |
| d h k h B i & S i i i t t o y s a p n g n g e n n g |
7 2 4 |
9 9 6 |
1. 9 6 5 |
1 7 % |
1 5 % |
| k S i j i t n r e u v e n a o n |
2 3 5 |
6 9 5 |
1. 0 8 9 |
1 % 5 |
9 % |
| l i H a r r e m o v a |
3 3 5 |
3 4 1 |
3 3 3 |
-2 % |
0 % |
| i L t t t e g e n r e a m e n s v |
3 1 1 |
1 5 7 |
8 1 7 |
9 % |
% 4 |
| d A i t c n e r e u c o n |
9 6 |
1 1 0 |
1 2 5 |
7 % |
3 % |
| l V i j i t a g n a r e u v e n a o n |
n a |
1 0 5 |
3 3 2 |
n a |
2 6 % |
| d l & l P i i t t t t g m e n e e s o n a o o r e m o v a |
8 0 |
9 9 |
1 4 2 |
1 1 % |
7 % |
| h O t e r |
1 2 6 |
1 6 7 |
2 0 7 |
1 5 % |
4 % |
| l T t o a |
2. 0 3 3 |
2. 6 0 7 |
4. 3 8 0 |
1 % 5 |
1 0 % |
Source: Medical Insight Report
Key growth drivers:
- Increasingly aging population
- Desire to achieve or maintain more youthful appearance
- Increase in healthcare spending
- Requirements for fast and minimally invasive surgical procedures
Industrial laser market
Lasers increasingly adopted in high quality manufacturing for uniqueness, flexibility, environment friendliness, productivity
- •Sheet metal cutting: technology breakthroughs lead to strong widening of demand
- •Laser marking for identification: traceability as a quality standard
MARKET STUDIES:
Technavio's analysts forecast :"The global industrial laser market to grow at a CAGR of 10.24% during the period 2017-2021"
Growth drivers
Growthdrivers
- Expected growth in our main markets: Aesthetic , Surgery, Industrial
- Entering the body contouring and cellulite treatment market
- Novel dermatologic treatment device: 2019
- Hologic/ Cynosure focused again on Mona Lisa Touch
- Diabetic foot ulcers: seeking regulatory clearances worldwide
- New applications for medium power CO2 laser sources
- Strong demand for high power laser sheet metal cutting systems in China and Europe
New systemsand devices
- ONDA Body contouring
- Motus AX expands to Motus AY
- BPH: Virtual basket and single use morcellator
- PicoStar Asclepion launched the most powerful Picolaser
- High Power sheet metal cutting systems 15kW
- OEM systems for urology
New factories
Jena
Hair removal
Skin rejuvenation
Tattoo removal
Body contouring
Monna Lisa Touch
Lithotripsy: Virtual basket
Physiotherapy
Sheetmetal cutting
Conservation
Financial Highlights
Incomestatement FY-2017
| l l i i E M u r o o n |
/ / 3 2 6 1 1 1 |
% | / / 3 2 1 1 1 7 |
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|---|---|---|---|---|---|
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1 6 6 0 5 6 |
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| d l i I t n u s r a |
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| l T R t o a e v e n u e s |
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| i G r o s s m a r g n |
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% 4 1, 5 |
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| I A E B T D |
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1 1, % 5 |
| E B I T |
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| P I t r e a n c o m e x |
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| i N t e n c o m e |
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| h N I t e n c o m e p e r s a r e |
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Balance sheet-2017
| l l i i E M u r o o n |
/ / 3 2 6 1 1 1 |
/ / 3 2 1 1 1 7 |
% V a r. |
|---|---|---|---|
| d d i t u n a u e |
|||
| l T t t t o a n o n c r r e n a s s e s u |
6 4 7 3 7 |
6 5 6 6 4 |
% 1, 4 |
| k l i C i N W t t e o r n g a p a |
6 0 5 4 1 |
6 3 6 2 2 |
% 1 7 5 , |
| f l N i i i i t t e n a n c a p o s o n |
8 2 7 8 4 |
8 4 5 0 6 |
2 1 % , |
| l b l i i i i L t t o n g e r m a e s |
8 9 8 2 |
9 4 9 6 |
% 5 7 , |
| i N E t t e q u y |
9 2 6 9 9 1 |
2 0 2 9 6 4 |
6 0 % , |
| l l d N i t t e c a p a e m p o y e |
1 0 9 9 1 5 |
1 1 9 7 9 0 |
9 0 % , |
| k l l i C i N W t t e o r n g a p a o n s a e s |
2 % 1, 4 |
2 0 8 % , |
|
| R O C E |
2 5 1 % , |
2 5 4 % , |
|
| / ( l l d ) E B I T N i t t e a p a e m p o e c y |
|||
| C a p e x |
1 1 4 4 1 |
5 1 5 8 |
Revenue breakdown FY-2017
Revenue breakdown FY-2017
Guidance
Multiples & Comparables
Multiples
| k h l d 's h S E i t t o c o e r q u y p e r s a r e |
9, 9 |
|
|---|---|---|
| / k l d i j. P B V A r c e o o a u e |
3, 2 |
|
| / ( ) % E V E B I T 8 0 E B I T |
2 1, 0 |
|
| / l ( l ) E V S 8 0 % S a e s a e s |
2, 1 |
|
| l. k E E M C t n. a r e a p. |
@ 6 0 8, 6 € 3 1, 5 4 |
|
| f i i l i i N t t e n a n c a p o s o n |
/ / @ 8 4, 5 3 1 1 2 1 7 |
|
| / l l i i i F t t t n a n c a n v e s m e n s m e r m |
/ / 2, @ 3 2 1 1 1 1 1 7 |
|
| l i E V t n e r p r s e a e u |
5 1 2, 1 |
Comparables
| Am | ln in m nts ou |
||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 3 2 0 De 1st 1 7 c. , / d l he Me ica Ae ic st t |
ice Pr |
Re ve nu e |
Va % r. Re v. |
I E B T |
I % E B T |
K. Ca M p. |
V E |
/ V Sa les E |
/ V I E E B T |
Ca h A d j. s / P E |
/ k P Bo o lue Va |
| Cu te ra |
\$ 2, 8 5 5 |
\$ 1 5 1 |
2 8 % |
\$ 1 1 |
% 7 |
\$ 3 2 7 |
\$ 6 9 6 |
6 4, |
6 2, 9 |
2 3, 2 |
3 1 1, |
| las B io e |
\$ 0, 4 3 |
\$ 4 7 |
-9 % |
\$ ( ) 1 8 |
-3 8 % |
\$ 4 4 |
\$ 3 2 |
0, 7 |
n.a | n.a | 1, 5 |
| ( ** ) S isr d ica l Me am |
\$ 0, 7 7 |
\$ 6 6 |
1 3 % |
\$ 1 4 |
2 1 % |
\$ 3 3 9 |
\$ 3 2 5 |
2, 7 |
1 2, 4 |
2 2, 5 |
0 7, |
| du ia l In str |
|||||||||||
| ho ics I P G P Co to n |
\$ 2 4 8, 6 6 |
\$ 1. 4 0 9 |
4 0 % |
\$ 5 5 1 |
3 9 % |
\$ 1 3. 4 4 0 |
\$ 1 2. 3 2 7 |
8, 7 |
2 2, 4 |
3 5, 5 |
6, 6 |
| du Pr im In ie str a |
€ 4 0, 0 5 |
€ 4 5 0 |
1 4 % |
€ 2 6 |
6 % |
€ 4 2 0 |
€ 4 8 9 |
1, 1 |
1 8, 6 |
2 6, 2 |
2, 8 |
| 's Ha Las n er |
¥ 5 3, 8 5 |
¥ 1 1. 5 6 0 |
6 8 % |
¥ 1. 8 0 3 |
1 6 % |
¥ 5 7. 4 6 0 |
¥ 5 5. 9 0 4 |
4, 8 |
3 1, 0 |
3 3, 4 |
8, 0 |
| l. ( ) E En 1 |
€ 3 1, 5 4 |
€ 3 0 6 |
2 1 % |
€ 3 0 |
1 0 % |
€ 6 0 9 |
€ 5 1 2 |
2, 1 |
2 1, 0 |
3 2, 8 |
3, 2 |
| ( ) d m lt l 1 E V a ip ies n u as |
for iou p rev s s |
l de i |
(**) Data as at June 30 th. 2017
Contacts
El.En. SPA
Enrico ROMAGNOLI Investor Relations Managertel. +39 055-8826807E-mail: [email protected]
POLYTEMS HIR
Financial Communication, IR and Press Office Bianca FERSINI MASTELLONI [email protected]@polytemshir.itTel. +39 06-69923324