Advanced Bitcoin Technologies AG Q4 FY2021 Earnings Call

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  • Q4 Organic Sales Growth: 7.7%, driven by broad strength across business segments and $2.3B of COVID testing revenue.
  • Full Year 2021 Organic Sales: +23% YoY; EPS of $5.21 up 40% YoY, exceeding January 2021 guidance.
  • 2022 Full Year EPS Guidance: At least $4.70, representing ~50% growth over 2019 pre-pandemic baseline.
  • Base Business Sales Growth Guidance (Ex-COVID): High single digits for 2022.
  • Initial COVID Testing Guidance for 2022: $2.5B, primarily in early 2022; this will be updated quarterly.

Segment Highlights

  • Nutrition: Q4 sales +6% YoY; FY2021 +7.5%. Adult Nutrition +9% in Q4; Glucerna & Ensure drove global growth. Pediatric Nutrition saw >10% U.S. growth for FY2021, led by Pedialyte and Similac.
  • Medical Devices: Q4 +16% YoY; FY2021 +~20%. Diabetes Care led with 30%+ growth; FreeStyle Libre sales jumped $1B YoY to $3.7B, with 4M users globally.
  • Established Pharmaceuticals (EPD): Q4 +6%, FY2021 +10%; strength in India, Russia, and China. Continued new product flow across core therapy areas.

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Operator: Good morning and thank you for standing by. Welcome to Abbott's Fourth Quarter 2021 Earnings Conference Call. [Operator Instructions] This call is being recorded by Abbott. With the exception of any participant's questions asked during the question-and-answer session, the entire call, including the question-and-answer session, is material copyrighted by Abbott. It cannot be recorded or rebroadcast without Abbott's express written permission. I would now like to introduce Mr. Scott Leinenweber, Vice President, Investor Relations, Licensing and Acquisitions. Scott Leinenweber: Good morning and thank you for joining us. With me today are Robert Ford, Chairman and Chief Executive Officer; and Bob Funck, Executive Vice President, Finance and Chief Financial Officer. Robert and Bob will provide opening remarks. Following their comments, we will take your questions. Before we get started, some statements made today may be forward-looking for purposes of the Private Securities Litigation Reform Act of 1995, including the expected financial results for 2022. Abbott cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated in the forward-looking statements. Economic, competitive, governmental, technological and other factors that may affect Abbott's operations are discussed in Item 1A Risk Factors to our annual report on Form 10-K for the year ended December 31, 2020. Abbott

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