Ad-hoc trading update
Girts Cimermans, CEO
Jennifer Dean, CFO
30 October 2023
Providing innovative solutions to help people
live healthier and more confident lives
Disclaimer and other important notes
This presentation contains forward-looking statements that are based on management's current assumptions and expectations concerning future developments, including but not limited to, projections of financial developments, market activities or future performance of products and solutions, which therefore contain certain risks and uncertainties. These forward-looking statements are subject to change based on known or unknown risks and various other factors, which could cause the actual results or performance to differ materially from the statements made in this presentation. These risks and other factors include, among others, general economic and geopolitical conditions, foreign exchange fluctuations, competitive product and pricing pressures, the effect of a pandemic or epidemic, a cyber event, a natural disaster or other force majeure, as well as regulatory developments and changes in tax regimes.
Alternative Performance Measures (APM)
All bridges from reported figures to APM can be found in the financial review of medmix' half-year report 2023 and all definitions of APM can be found in the APM section of medmix' annual report 2022.
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medmix CONFIDENTIAL
Dental market segment
Market continues to grow, but destocking deeper and longer
- Previous customer consensus informed clear expectation for restocking in H2
- medmix current order run rate below anticipated improvement
- Customers now uncertain about timing of restocking
- Emphasis on supply chain optimization, taking inventories to below pre-pandemic levels
- Anticipated recovery will simply take longer
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medmix CONFIDENTIAL
Other medmix market segments
Strong growth in Drug Delivery, Surgery, Beauty; Industry recovery on track
- Industry segment volumes remain subdued, in line with expectations
- medmix increasingly meeting customer demand
- Industry recovery plan on track
- Full production capacity in Spain by year end
- Drug Delivery, Surgery, Beauty segments continue double-digit year-on-yeargrowth trajectory
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medmix CONFIDENTIAL
Outlook
New full-year 2023 guidance1
- Organic revenue growth broadly flat2
- Adjusted EBITDA margin of between 19% and 20%2
Guidance revised due to delays in Dental segment, with above-average influence on results
- Dental inventories along value chain reduced to below pre-pandemic levels
- Restocking delayed until after end of 2023
- End market continues to grow, destocking temporary
All other market segments performing at or above expectations
End user market fundamentals, business model, long-term strategic aspirations, all intact
- Changes to our overall assumptions, medmix expects net income to be significantly lower in 2023 compared to the previous year
2 vs. previous guidance of 5% to 7% organic revenue growth | 5 |
- vs. previous guidance of around 22% adjusted EBITDA margin
medmix CONFIDENTIAL
Q&A
Girts Cimermans, CEO
Jennifer Dean, CFO
medmix CONFIDENTIAL
Your Investor Relations contact
James Amoroso
Investor Relations, medmix
Phone: +41 41 723 73 57
E-mail:investorrelations@medmix.com
medmix Group AG Neuhofstrasse 20 6340 Baar Switzerland
medmix CONFIDENTIAL
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Disclaimer
Medmix Ltd. published this content on 30 October 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 30 October 2023 05:04:45 UTC.