EX-99.2 3 exhibit_99-2.htm EXHIBIT 99.2

Exhibit 99.2

 SHL Telemedicine  HY Results 2024Presentation  1 
 

 Forward looking statements   2  This presentation was prepared for the purpose of providing and presenting information in a summary only and cannot replace a review of the reports of SHL Telemedicine (hereinafter: "the Company"). Many of the statements included in this presentation, as well as oral statements that may be made by us or by officers, directors or employees acting on behalf of us, contain “forward-looking statements” within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, specifically Section 27A of the U.S. Securities Act of 1933, as amended, and Section 21E of the U.S. Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, are forward-looking statements. Readers are cautioned that forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors that could cause actual results to differ materially from historical results or any future results expressed or implied by forward-looking statements. Factors that can cause actual results to differ from expectations and those contained in forward-looking statements include those risks described in Item 3.D. “Key Information—Risk Factors” contained in the Company’s Registration Statement on Form 20-F or most recent Annual Report on Form 20-F filed with the U.S. Securities Exchange Commission (the “SEC”) and in its subsequent filings and submissions with the SEC, including, but not limited to, the Company’s ability to operate and comply with the complex and evolving regulations in the highly regulated healthcare industry; continued development, consumer acceptance and market adoption in the relatively new, unproven and volatile and rapidly changing telehealth market; the Company’s ability to develop and introduce new products and solutions and enhancements to existing ones; the significant and increasing levels of competition in the telemedicine market; the impacts of COVID-19 and future pandemics and epidemics; the Company’s ability to continue to attract and retain key employees and personal in the highly competitive healthcare industry; the loss or breach of the Company’s proprietary rights and data security and privacy risks; political, judicial, legal, economic and military conditions in Israel and the surrounding region; global economic and financial market conditions and the Company’s ability to adapt to and comply with the different business and market factors, conditions, requirements and laws and regulations in the various countries in which the Company operates internationally; currency fluctuations; labor disputes; the Company’s ability to manage growth and integrate acquired businesses and expanding operations; the Company’s ability to obtain adequate levels of insurance to cover potential losses; the Company’s dependence on key suppliers and sub-contractors and other third parties; and other matters and risks not yet known to the Company or not currently considered material by it. You should not place undue reliance on these forward-looking statements. All written and oral forward-looking statements, attributable to the Company, or persons acting on its behalf, are qualified in their entirety by these cautionary statements.  For the avoidance of doubt, it is clarified that the company does not undertake to update the information, in whole or in part, contained in this presentation, whether as a result of new information, a future event or for other reasons, except as required by law. It is also clarified that the company's plans and strategy contained in this presentation are correct at the time of their publication and can and will change in accordance with the decisions of the company's board of directors, as they will be from time to time, and/or due to their being dependent, in whole or in part, on third parties that are not under the control of the company as well as on additional risk factors to which the company is exposed .  This presentation contains trade names, trademarks and service marks of other companies. The trade names, trademarks, and service marks of other parties are not used or displayed to imply a relationship with, or endorsement or sponsorship of, those other parties. 
 

 SHL Telemedicine at a glance  3  Nasdaq: SHLT  SWX: SHLTN  Listed on  $27.9M  1HY 2024 revenues  30+ years of experience  SHL is a leading provider and developer of advanced telehealth technology and services with unmatched 30 years of medical & ECG data-base  24/7 telehealth monitoring global service capabilities   3M  interactions and data readings per year  Telemedicine centers in Israel & Germany Significant strategic partners in the US market 
 

 R&D Gross Expenses  $3.0M  Operational CASH Flow  REVENUES  $27.9M  Adjusted EBITDA(*)  $ 0.5M  CASH On HAND  $20.3M  30 June 2024  (*) Please see Supplemental Information at end of presentation for a reconciliation of Adjusted EBITDA and Adjusted EBIT to net profit as required by the rules of the U.S. Securities Exchange Commission with respect to non-GAAP financial measures  HY 2024 Overview Financial Data(*)  4  $ (0.3)M 
 

 Germany:  5  Remote medical services such as: Virtual Visit and Monitoring of chronic patients, are becoming the Standard of Care  The company has agreements with leading health insurers, covering about 30% of the German health insurance market (about 25 million insured)  SHL is the market leader in Germany and operates in a B2B model - managing and stabilizing chronic patients and saving costs for health insurers  1HY2024  2HY2023  1HY2023  REVENUES  $6.6M  Adjusted EBITDA(**)  $(0.3)M  REVENUES(*)  $7.2M  Adjusted EBITDA(**)  $1M  REVENUES(*)  $6.8M  Adjusted EBITDA(**)  $(1.2)M  (*) compared to 1HY 2023 in constant currency, Please see Supplemental Information at end of presentation for a description of the basis of presentation of the constant currency amount calculations as required by the rules of the U.S. Securities Exchange Commission with respect to non-GAAP financial measures  (**) Please see Supplemental Information at end of presentation for a reconciliation of Adjusted EBITDA and Adjusted EBIT to net profit as required by the rules of the U.S. Securities Exchange Commission with respect to non-GAAP financial measures 
 

 ECG repository  Cloud based  24/7 ECG review center  24/7 USA  cardiologist network  Provider portal  USA   6  Increase in uses of the SmartHeart platform  DTC plan: working on customer acquisition cost reduction   (*) Please see Supplemental Information at end of presentation for a reconciliation of Adjusted EBITDA and Adjusted EBIT to net profit as required by the rules of the U.S. Securities Exchange Commission with respect to non-GAAP financial measures  Patented technology. SmartHeart is a registered Trademark  REVENUES  $0.4M  Adjusted EBITDA(*)  $(2.2)M  Tier1 Strategic customers relationships strengthen our reputation in support of the SmartHeart® direct-to-consumer move   Leveraging the network of cardiologists that is already set up across the US  Already FDA cleared 510(k) process for OTC clearance  
 

 Israel  7  High contribution to the company's profitability and cash flow  The leader in B2C Telemedicine Services   B2B advanced Medical Services   Sale of cardiac monitoring services to consumers: personal 12 Lead ECG devices for transmission of remote medical data, 24/7 telemedicine center, Mobile Intensive Care Units in coverage areas.  Over 100 institutional customers - Mediton Group is a leading B2B healthcare services provider in Israel to the largest and leading companies in Israel, government institutions, the Ministry of Defense, National Insurance, health funds and insurance companies  (*) compared to 1HY 2023 in constant currency, Please see Supplemental Information at end of presentation for a description of the basis of presentation of the constant currency amount calculations as required by the rules of the U.S. Securities Exchange Commission with respect to non-GAAP financial measures  (**) Please see Supplemental Information at end of presentation for a reconciliation of Adjusted EBITDA and Adjusted EBIT to net profit as required by the rules of the U.S. Securities Exchange Commission with respect to non-GAAP financial measures  Telemedicine Center  4 advanced Medical Centers  Network pf 500+ specialist doctors  Customer Service Center  Mobile Intensive Care Units with extensive coverage areas  1HY2024  2HY2023  1HY2023  REVENUES  $20.9M  Adjusted EBITDA(**)  $5.7M  REVENUES(*)  $21.5M  Adjusted EBITDA(*)(**)  $5.7M  REVENUES(*)  $21.0M  Adjusted EBITDA(*)(**)  $5.5M 
 

 Financials – P&L  8  (*) compared to HY 2023 in constant currency, Please see Supplemental Information at end of presentation for a description of the basis of presentation of the constant currency amount calculations as required by the rules of the U.S. Securities Exchange Commission with respect to non-GAAP financial measures  (**) Please see Supplemental Information at end of presentation for a reconciliation of Adjusted EBITDA and Adjusted EBIT to net profit as required by the rules of the U.S. Securities Exchange Commission with respect to non-GAAP financial measures  In USD million (except per share amounts)  1HY 2024  1HY 2023cc*  Revenues for the period  27.9  28.4  Revenues by territories  Germany  6.6  6.8  Israel  20.9  21.0  Rest of the World  0.4  0.6  Adjusted EBIT(**)  (3.2)  (3.2)  Adjusted EBITDA(**)  0.5  0.3  Net loss  (3.9)  (2.2)  EPS (Basic) attribute to equity holders  (0.24)  (0.14) 
 

 Financials – Balance sheet & Cash flow  9  In USD million   1HY 2024  1HY 2023  Cash and cash equivalents  10.9  10.4  Short term investments  9.4  19.0  Total cash and short-term investments  20.3  29.4  Short term bank debt  2.1  2.1  Long term bank debt  9.0  11.3  Total bank debt  11.1  13.4  Capital and reserves   151.4  151.8  Accumulated deficit  (84.1)  (75.3)  Total Equity  67.3  76.5  Increase (Decrease) in cash and short-term investments  (5.9)  10.7  Operational cash flow  (0.3)  (3.3) 
 

 Thank You  SHL Telemedicine  10 
 

 Supplement Information   11  **Adjusted EBIT: Please see the Adjusted EBITDA and Adjusted EBIT Table below.  ***Adjusted EBITDA: Please see the Adjusted EBITDA and Adjusted EBIT Table below  In the table below, HY 2023 results have been presented at HY 2023 exchange rates1. Management believes that this presentation enables a more meaningful comparison between the periods due to the significant fluctuations in NIS/USD/EUR exchange rates during the period.  Adjusted key figures (in constant currency1)  in USD million  1HY2024  1HY2023  % change  Revenues   27.9  28.4  (1.9)  Revenues   Germany  Israel  Rest of the World  6.6  6.8  (4)  20.9  21.0  (0.4)  0.4  0.6  (32.3)  Adjusted EBIT**  (3.2)  (3.2)  Adjusted EBITDA ***  0.5  0.3  Key figures (as reported):  in USD million  (except per share amounts)  1HY 2024  1HY 2023  % change  Revenues for the period  27.9  29.0  (3.9)  Revenues  Revenues   Germany  Israel  Rest of the World  6.6  6.8  (4)  20.9  21.6  (3.2)  0.4  0.6  (32.3)  EBIT  (3.9)  (4.4)  EBITDA  (0.2)  (0.9)  Net profit (loss)  (3.9)  (2.1)     EPS (Basic loss)  (0.24)  (0.14)     Operating cash flow  (0.3)  (3.3)     Reconciliation of Adjusted EBITDA and Adjusted EBIT to net profit as required by the rules of the U.S. Securities Exchange Commission with respect to non-GAAP financial measures 
 

 Supplement Information   12  (1) Constant currency – to enable meaningful comparison between 1HY2024 and 1HY2023 results, results are also presented at 1HY2024 exchange rates which are calculated as annual average based on the average monthly exchange rates of each of the USD and the EUR versus the NIS, as published by the Bank of Israel. The management believes that this presentation enables a more meaningful comparison between the periods due to the significant fluctuations in NIS/USD/EUR exchange rates during the period.  Reconciliation of Adjusted EBITDA and Adjusted EBIT to net profit as required by the rules of the U.S. Securities Exchange Commission with respect to non-GAAP financial measures (HY2022 results are presented also in HY2023 exchange rates1)  The Company believes Adjusted EBITDA and Adjusted EBIT provide useful information regarding the Company’s financial and operating performance. Adjusted EBITDA and Adjusted EBIT are not IFRS or U.S. GAAP measures. You should not construe Adjusted EBITDA and Adjusted EBIT as alternatives to operating profit or cash flows from operating activities determined in accordance with IFRS or U.S. GAAP or as a measure of liquidity. Adjusted EBITDA and Adjusted EBIT are not defined in the same manner by all companies and may not be comparable to other similarly titled measures of other companies  in USD million  1HY2024  1HY2023  1HY2023(CC1)  Net profit (loss)  (3.9)  (2.1)  (2.2)  Financial income net  (0.5)  (3.0)  (3.0)  Tax expenses  0.5  0.7  0.7  Depreciation and amortization expenses  3.7  3.5  3.5  EBITDA  (0.2)  (0.9)  (1.0)  Share-based compensation  0.3  0.8  0.8  Non- recurring expenses  0.4  0.5  0.5  Adjusted EBITDA  0.5  0.4  0.3