BRAIN AG - Presentation of 3M Figures 2016/17

Transcription

1 BRAIN AG - Presentation of 3M Figures 2016/17 BRAIN Key Enabler for a Biobased Economy Zwingenberg, February 28, 2017 BRAIN Aktiengesellschaft Zwingenberg Germany (0)

2 Disclaimer This document may contain forward-looking statements. These forward-looking statements are subject to risks and uncertainties, as they relate to future events and are based on current assumptions of the Company, which may not occur at all in the future or may not occur as assumed. They do not represent a guarantee for future results or performance of the Company, and the development of economic and legal conditions may materially differ from the information expressed or implied in the forward-looking statements. The Company assumes no obligation to update or revise any forward-looking statement contained herein or to adapt them to future events or developments. The information contained in this document has not been independently verified. No representation or warranty expressed or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinion contained herein. The Company or any of its shareholders, affiliates, advisors, employees or representatives shall have no liability whatsoever (in negligence or otherwise) for any loss arising from any use of this document or its content or otherwise arising in connection with this document. By accepting this presentation you acknowledge that you will be solely responsible for your own assessment of the market and the market position of the Company and that you will conduct your own analysis and be solely responsibility for forming your own view of the potential future performance of the Company s business. This presentation speaks as of February 28, Neither the delivery of this presentation nor any further discussions of the Company with any of the recipients shall, under any circumstances, create any implication that there has been no change in the affairs of the Company since such date. BRAIN Aktiengesellschaft Zwingenberg Germany (0)

3 Speakers Dr. Jürgen Eck (CEO) Dr. Georg Kellinghusen (CFO) Frank Goebel (Member of the Board) Micro- & Molecular Biologist 54 years Co-founded BRAIN in y of industry expertise Well connected in industry Management & Strategy R&D, IP and Technology Master of Business Adminstration 69 years Joined BRAIN in y of experience as CFO in 4 listed companies Finance, Accounting Controlling Compliance & IR Master of Business Administration 47 years Joined BRAIN in Feb years structured/ corporate finance expertise Well connected in finance community Asset management, M&A BRAIN Aktiengesellschaft Zwingenberg Germany (0)

4 Our mission: Enabling BioEconomy We discover and produce novel biological ingredients on the basis of our proprietary BioArchive for the improvement of product applications in multiple B2B markets. Enzymes Microbial Strains BioActives We enable sustainable, efficient and bio-based products & processes in the specialty and consumer goods segments of the chemical industry. We are on our way to become a fully integrated bio-specialty company. BRAIN Aktiengesellschaft Zwingenberg Germany (0)

5 Financials (3M) unaudited BRAIN Aktiengesellschaft Zwingenberg Germany (0)

6 Key Quarterly Financials 3M FY 2016/17, unaudited (in Euro million) 3M 3M 2016/ /16 Revenues Total operating performance BioScience BioIndustrial Adjusted EBIT IPO one- off costs Share based employee compensation AnalytiCon Post IPO-Framework EBIT Operating cash flow Cash & cash equivalents 3 as per Dec 31 st ) Revenues + change in inventories + other income including R&D grants 2) Including IPO related one-off costs of 0.8 million in the fiscal year 2015/16 (Q1) 3) Including fixed term deposits BRAIN Aktiengesellschaft Zwingenberg Germany (0)

7 Key Quarterly Financials 3M FY 2016/17, unaudited BRAIN Group generated a consolidated total operating performance (TOP) of Euro 6.6m (3M 2015/16: Euro 7.0m) Group revenues increased to Euro 6.1m (3M 2015/16: Euro 6.0m) TOP of the BioScience segment decreased in 1Q 2016/17 to Euro 3.2m (3M 2015/16 Euro 3.5m) due to a number of phased-out collaboration projects at BRAIN AG as well as slower than expected implementation of DOLCE partnerships In 1Q 2016/17 TOP in BioIndustrial segment accounted for Euro 3.4m (3M 2015/16 of Euro 3.5m), impacted by timing effects due to deferred revenues recognition (Euro 0.3m) The reported Group EBIT amounted to Euro -4.4m (3M 2015/16: Euro -2.1m), not adjusted for: Euro 0.4m for personnel exp. resulting from a share-based compensation scheme at AnalytiCon Euro 1.8m from post IPO framework agreement (no cash and equity-effect for BRAIN) The adjusted Group EBIT amounted to Euro -2.3m (1Q 2015/16: Euro -0.9m) The lower adjusted Group EBIT reflects the improved share price levels in relation to BRAIN AG s employee incentive scheme and other operating expenses (stock listing-related) Operating cash-flow at the level of Euro -0.1m vs. Euro -2.3m (1Q 2015/16) BRAIN Aktiengesellschaft Zwingenberg Germany (0)

8 Key Quarterly Financials 3M FY 2016/17, unaudited Short-form balance sheet Cash-flow statement BRAIN Aktiengesellschaft Zwingenberg Germany (0)

9 Financials Total Operating Performance by Segments 1) 2) 3) (in m) Total Operating Performance 3M 1) 2) (in m) BioScience BioIndustrial * /12A 2012/13A 2013/14A 2014/15A 2015/16A 2015/16 3M 2016/17 3M (*Adjusted) EBIT (in m) 2011/12A 2012/13A 2013/14A 2014/15A 2015/16A 2015/16 9M³ 2016/17 9M³ * 1) Total operating performance = revenues + change in inventories + other operating income 2) w/o intersegment elimination of c 0.2m in FY12/13, FY13/14, FY14/15 and 0.1m in FY 15/16 3) The financial figures of the FY 2015/16 are comparable only to a limited extent to the values of the previous year, as for the FY 2014/15 they include the financial figures of the WeissBioTech organisations only since November 2014 due to the acquisition * unaudited BRAIN Aktiengesellschaft Zwingenberg Germany (0)

10 Business Highlights BRAIN Aktiengesellschaft Zwingenberg Germany (0)

11 Significant events 3M FY 2016/17 ZeroCarbFP Strategic Alliance given go-ahead after successful interim review Following nearly three years of successful research and development, the ZeroCarbFP Strategic Alliance had to undergo a scientific interim review by a panel of experts set up by the Ministry of Education and Research in early The expert panel green-lighted the continuation of the funding arrangements for the Alliance during the second three year development phase, starting October 01, Two major food categories have joined DOLCE The bioeconomy company BRAIN, the natural product specialist AnalytiCon Discovery and Roquette, a global leader in specialty food ingredients from plant-based raw materials, announced in November that two major food categories have already joined the recently published strategic DOLCE partnership. This newly created DOLCE partnership was started in August 2016 and offers consumer product goods companies a platform providing expert know-how to develop and produce natural sweetening solutions in order to achieve sugar- and calorie reduction in diverse food categories. BRAIN Aktiengesellschaft Zwingenberg Germany (0)

12 DOLCE partnership - new sweet solutions for industry CPGC1 signed World market leading food manufacturing and converting industry CPGC1 signed In addition 4 fields of application under discussion with CPGCs BRAIN Aktiengesellschaft Zwingenberg Germany (0)

13 Events after the end of the quarter BRAIN publishes annual report and confirms preliminary financials for fiscal year 2015/16 Just less than one year after the IPO, BRAIN publishes its first annual report as a listed company, confirming the preliminary figures for the fiscal year 2015/16. These had been announced on December 19, 2016, already. BRAIN proposes Supervisory Board candidates for election at its Annual General Meeting BRAIN has published the invitation for its first public Annual General Meeting as a stock listed company, to be held on March 09, 2017, to its shareholders in the electronic Federal Gazette (Bundesanzeiger) and on its website. Free Float of BRAIN share successfully increased On the evening of February 08, 2017, BRAIN was informed that after the end of the one-year lock-up period, MIG Fonds, as existing shareholders of the company, sold its entire stake of 2,528,389 shares to more than 20 institutional investors. The placement took place outside the stock market as part of an accelerated book-building process. The transaction, which was oversubscribed several times, was accompanied by ODDO SEYDLER BANK AG and BAADER BANK AG. The free float of BRAIN shares increased to 40%. BRAIN Aktiengesellschaft Zwingenberg Germany (0)

14 Shareholder structure IPO BRAIN AG and Proceeds Shareholder structure of BRAIN AG BRAIN shares started trading on February 9, 2016 (issue price 9.00, first price 9.15) The public offer consisted of 3,500,000 primary shares and 108,054 secondary shares Total issue volume of 32.5m Net proceeds from the offering to be used as follows: 60% Research & Development 20% M&A 20% Working capital and general purposes Free Float Founders/ Management Re-placement MiG shares Re-placement of 2,528,389 MIG Fonds shares to >20 institutional investors on February 8, 2017 Notes MP Beteiligungs GmbH Current number of shares: 16,414,348 Strong long term investor base Free float of 40.1% >5,000 Shareholders BRAIN Aktiengesellschaft Zwingenberg Germany (0)

15 Statement Statement of the CEO Dr. Jürgen Eck: BRAIN continued its successful development in the first quarter of 2016/17. We reached several important milestones with our industrial partners, and pushed ahead with the commercialization of our own products. However, the quarterly financials do not fully reflect this development, which is partly due to timing effects. We are convinced that the BRAIN Group is well-positioned to continue successfully on the implementation of our strategy and to grow further during the 2016/17 fiscal year. In addition, we still expect to achieve the Group EBIT break-even during the fiscal year 2017/18." BRAIN Aktiengesellschaft Zwingenberg Germany (0)

16 Financial Calendar February 28, 2017 Publication of the quarterly report for the period ending 31 December 2016 (3M) March 09, 2017 Annual General Meeting in Zwingenberg May 31, 2017 Publication of the interim report for the period ending 31 March 2017 (6M) August 31, 2017 Publication of the quarterly report for the period ending 30 June 2017 (9M) The printed Group report for the FY 2015/16 is now available in German and English BRAIN Aktiengesellschaft Zwingenberg Germany (0)

17 Thank you for your interest. BRAIN Aktiengesellschaft Darmstädter Straße Zwingenberg +49 (0) Your Contact: Investor Relations Dr. Martin Langer +49 (0) BRAIN Aktiengesellschaft Zwingenberg Germany (0)