03 financials

Page 1

Disclaimer

These statements are related, among others, to the intent, belief or current expectations of the customer base, estimates regarding future growth in the different business lines and the global business, market share, financial results and other aspects of the activities and situation relating to the Company. Such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those expressed in or implied by these forward-looking statements as a result of various factors, many of which are beyond the ability of DiaSorin S.p.A. to control or estimate precisely. The Company does not undertake to update or otherwise revise any forecasts or objectives presented herein, except in compliance with the disclosure obligations applicable to companies whose shares are listed on a stock exchange. Luigi De Angelis, the Officer Responsible for the preparation of corporate financial reports of DiaSorin S.p.A., in accordance with the second subsection of art. 154-bis, part IV, title III, second paragraph, section V-bis, of Legislative Decree February 24, 1998, no. 58, declares that, to the best of his knowledge, the financial information included in the present document corresponds to book of accounts and book-keeping entries of the Company.Â


2015-2017 PLAN:

FINANCIALS


2015-2017 Plan Main Assumptions

EUR/USD Exchange Rate

Group Tax Rate

CLIA ex Vitamin D

1.15

Main foreign currency to which the Group is exposed

~ 34.0% Mainly as a result of recent changes in Italian tax regulation

Molecular investment contribution to ebitda

Price Erosion

~ 2%

Vitamin D

3-5%

Average discounts granted when a relevant contract with existing customers is renegotiated

Slightly below break-even during the period

Long-term strategic asset open to future development


Guidance 2015-2017 造/MLN

2014a

2017

REVENUES

444

550-570

160

205-215

36.1%

~ 37.5%

84

110-114

18.9%

~ 20.0%

FCF

91

280-300 (*)

EPS

造 1.55

造 2.00-2.08

CLIA ex Vitamin D Vitamin D ELISA / RIA Instruments & other Molecular Diagnostics

EBITDA EBITDA Margin

NET RESULT % on revenues

CAGR

~ +8.0% ~ +16.0% ~ +2.0% ~ -8.0% ~ +4.0% ~ +30.0% ~ +9.5% ~

+10.0%

(*) Cumulative 2015-2017


M&A: potential targets OPPORTUNITIES IN THE MARKET SIZE OF THE TARGET

LISTED AND/OR PRIVATE COMPANIES DEPENDING ON THE OPPORTUNITY

MARKET EXPANSION

GEOGRAPHICAL EXPANSION

COMPANIES WITH A DEVELOPED CUSTOMER BASE ACCESSIBLE WITH THE COMBINED MENU (DiaSorin + Target Company)

ACQUISITION OF LOCAL DISTRIBUTORS WHEN THE MARKET BECOMES RELEVANT (> 5 造/MLN) (e.g. Switzerland in 2014, Poland in 2015)

CONTENT driven

TECHNOLOGICAL CONVERSION

COMPANIES WITH CLIA MARKERS/RAW MATERIAL PROTECTED BY IP (e.g. Biotrin with Parvovirus test)

COMPANIES RUNNING TESTS ON OLD TECHNOLOGIES WHICH CAN BE CONVERTED TO CLIA (e.g. Murex with Hepatitis and Retrovirus tests on ELISA converted to CLIA)


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