Deltex Medical Group plc

Half year results to 30 June 2023

September 2023

Andy Mears

Chief Executive Officer

Natalie Wettler

Group Finance Director

© Deltex Medical Group plc (2023). All rights reserved.

Real-time oesophageal Doppler haemodynamic monitoring:

improves patient outcomes; increases hospital throughput

Disclaimer

The information contained in this document ("Presentation") and the presentation made to you verbally has been prepared by Deltex Medical Group Plc (the "Company"). Deltex Medical Group Plc is a company quoted on AIM, a market operated by London Stock Exchange plc. This Presentation has not been fully verified and is subject to material updating, revision and further verification and amendment without notice. This Presentation has not been approved by an authorised person in accordance with Section 21 of the Financial Services and Markets Act 2000 (as amended) ("FSMA") and therefore it is being provided for information purposes only.

While the information contained herein has been prepared in good faith, neither the Company nor any of its directors, officers, agents, employees or advisers give, have given or have authority to give, any representations or warranties (express or implied) as to, or in relation to, the accuracy, reliability or completeness of the information in this Presentation, or any revision thereof, or of any other written or oral information made or to be made available to any interested party or its advisers (all such information being referred to as "Information") and liability therefore is expressly disclaimed. Accordingly, neither the Company nor any of its directors, officers, agents, employees or advisers take any responsibility for, or will accept any liability whether direct or indirect, express or implied, contractual, tortious, statutory or otherwise, in respect of, the accuracy or completeness of the Information or for any of the opinions contained herein or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this Presentation.

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2

Deltex Medical

Real-time oesophageal Doppler haemodynamic monitoring:

improves patient outcomes; increases hospital throughput

H1 2023 - key commercial dynamics

Release of new TrueVue monitor

  • Good progress made on new TrueVue monitor during H1 2023 with the device being launched on 10 July into the UK in EU
  • Evaluations have now commenced in UK hospitals. This process is expected to last six weeks
  • Revenues from TrueVue monitor expected to commence in November 2023 from UK and EU customers

Latin American Tender

  • Continuing to work on potentially significant Latin America tender order
  • Tender was due to start in May 2023, but delayed due to government not releasing funding
  • Funding released at end of August and hospitals now starting to select equipment from national tender

3

Restricted access in UK/US: "new normal"

  • Modified our commercial plans, assuming that
    'restricted access' to hospitals for DEMG's sale teams is the "new normal"
  • Commercial activities have been focused on selling the new TrueVue monitor to existing customers to generate capital pipeline and revenues
  • Mitigating effect using targeted digital/remote initiatives: e.g. online training academy that was launched in 2022 now in regular use

Non-invasive Suprasternal device

  • Progress on developing the new non-invasive device was hampered by the Company's financial position, but is now moving forward
  • The prototype probe is due to be completed in Q4 2023 and can be used with the new TrueVue monitor
  • Subject to gaining regulatory approvals, a clinical evaluation in a leading UK hospital has been approved to commence this year

Deltex Medical

Real-time oesophageal Doppler haemodynamic monitoring:

improves patient outcomes; increases hospital throughput

Summary P&L information to 30 June 2023

£000 (unaudited)

H1 2023

Probe revenues

815

77%

Other revenues

244

23%

Total revenues

1,059

100%

Gross profit

728

69%

Administrative costs

(642)

Sales & distribution costs

(427)

R&D and Q&R costs

(116)

Total costs

(1,185)

Adjusted EBITDA*

(361)

Loss for the period

(537)

H1 2022

  1. 79%
  1. 21%

1,158 100%

852 74%

(779)

(554)

(120)

(1,453)

(418)

(662)

Revenues reduced by 9% to £1.1M - offset by cost reductions of 18% to £1.2m

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Deltex Medical

* Earnings before interest, tax, depreciation and amortisation, share-based payments, non-executive directors' fees and any exceptional items

Real-time oesophageal Doppler haemodynamic monitoring:

improves patient outcomes; increases hospital throughput

Summary balance sheet information at 30 June 2023

£000

Property, plant & equipment

Intangible assets

Financial assets at amortised cost

Non-current assets

Inventories Trade receivables Other current assets Cash

Current assets

Total assets

30 June

30 June

30 June

30 June

2023

2022

2023

2022

237

274

Borrowings

(1,147)

(700)

3,986

3,419

Trade & other payables

(1,744)

(1,419)

Current liabilities

(2,891)

(2,119)

159

171

Borrowings

(998)

(1,048)

Trade & other payables

(148)

(203)

4,382

3,864

Provisions

(67)

(60)

824

835

Non-current liabilities

(1,213)

(1,311)

440

540

Total liabilities

(4,104)

(3,430)

191

206

107 611

1,562 2,192

5,944

6,056

Net assets

1,840

2,626

5

Deltex Medical

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Deltex Medical Group plc published this content on 18 September 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 September 2023 08:07:05 UTC.