Welcome to the financial year 2021-2022 conference call of Ypsomed. At this time, all participants are in a listen-only mode. Later, we will conduct a question and answer session and instructions will follow at that time. I would like to introduce your host for today's conference, Mr. Thomas Kutt, Head Investor Relations. Sir, the floor is yours.
Thank you, Gabriela. Have a good day, ladies and gentlemen, and thank you for joining us for our financial year 2021, 2022 results conference call. Joining me today are Simon Michel, CEO, and Niklaus Ramseier, our CFO. Our press release report and presentation discussing our financial performance are also available in the Media & Investor section of our website. With that, I will turn the call to Simon. Simon, please.
Thank you, Thomas. Good morning, good afternoon, everybody. Welcome also from my side to the presentation of our annual figures 2021, 2022. Ypsomed plays a significant role in the treatment of chronic diseases and develops itself into the space of successful therapies. I would like to take the time today to deepen the case for you to show you what we have delivered and where we are heading. Just to remind you, Ypsomed is active in two business areas, delivery systems and diabetes care. Our vision is to make self-care simpler and easier. Obviously, both areas play in the field of chronic conditions, of chronic diseases. In the case of diabetes care, very much focused on type one, type two diabetes. In the case of delivery systems, very broad. What are chronic conditions?
Chronic conditions are states or diseases that last long, sometimes in most cases, lifelong. They can be treated, they can be treated well if you do it on a regular basis, but they cannot be healed. If you look at America, the cost and the challenge that derives out of chronic conditions are enormous. nine out of 10 dollars in U.S. healthcare spending go into the treatment of chronic conditions. Per capita, over $11,000 are spent on the treatment of chronic diseases. four out of five patients at the age of 65 and more suffer from at least one chronic condition, and one out of two Americans have a disease related to obesity. We have to act, and we have to play a role, and this is our mission.
One key topic in that space is the bad and insufficient adherence. We call it the non-adherence for chronic conditions, which is a truly major issue. It's so bad that people die just because of malfunctional or not correct treatments, and this is not necessary if you do it well. Ypsomed is motivated and has its mission to provide here a significant part to make treatments better. What are the trends? Where do we play and why is Ypsomed an interesting case? Why are we well set up for the future? Number one, we play in the space of self-care. This is not just since COVID, where treatments move from hospital to home. It's a general thing that we can save costs for global healthcare systems by treating at home. No longer IV in hospital, but subcutaneous at home privately.
The second major trend is biologics, that more and more drugs have to be injected. They can no longer be swallowed because the molecules are simply too complex. They cannot pass the stomach wall, so we have to go parenteral. The third point, the third big trend why Ypsomed is profiting, in that space are biosimilars. The global access of modern medicines all over the world. The fourth element is the digitalization, the openness and the availability.
The openness of people to use digital solution, but especially also the availability of such solutions to give the information to the hand of doctors, of nurses, of patients to treat people better, to have a better outcome, a better adherence. Here we play a significant role, and I will show you how we do it today and how we'll do it tomorrow. Just to remind you, our four strategic pillars: innovation, access, global access, responsibility, and our platforms. Everything we do, every dollar we invest, we look into those four areas because they all go and answer purposes.
In the case of our platforms, they support a better quality of life through self-care. With our responsible behavior, how we act our way to carbon at zero, we do our part to the climate change and the big problem of nowadays we have. With biosimilars and access of devices also to biosimilar companies, we support global access and affordable care. Through digital health and our innovative digital product, we optimize, we support optimal therapy, optimal therapy outcomes through better adherence. Everything we do is, and this is for two years now consistently, every action we do, we test them according to our SDG targets.
We at the moment contribute towards 13 of the 17 UN SDGs. It's a critical element for us. It's not just around climate, it's a very broad. With that, ladies and gentlemen, I would like to move over to facts and figures, and I would like to point out a couple of highlights first. It's just very broadly now. What were the eight main topics we see over the past 12 months? Then we're going to deepen in the second part of this discussion. Now very important, of course, is our partnership with CamDiab and Abbott. CamDiab is a small company in England that has provided or that provides algorithm to automate insulin pumps. In this context, we talk about AID, automated insulin delivery. I will talk more about it.
We are very pleased with the relationship to Eli Lilly. Our program is well on track. We're also extremely pleased with the 36 new projects we were able to acquire in the space of YDS, which is a record. We are well on track in our CO₂ reduction carbon program. I'm going to show you how we do it. What is important on the platform level, we are now enhancing our acceleration on manufacturing capacity for devices for both YDC and YDS. Let me show you figures, and let's start with some key figures, key facts. Our key figure, turnover, plus 15%. Record growth here, 15.2 to be detailed. Very pleased about that. If you look at the injection system, 31%. Now, 31%, the second half of last year was close to 50% growth.
Ypsomed is still looking at the compound average growth rate of 25%, so this was a very strong year. It will not be always like that, but we are extremely pleased on how the injection system business has been developing. We are a bit less pleased with our ability to add new patients to YpsoPump. We have added roughly 1,500 patients, which is not good enough. We had a tough year, but I will show you what we have done. We have launched now 10 ATTD. We have launched now the looping program, and we see a significant upscale over the past four weeks since we have launched, and we are positive looking into the future. From an EBIT perspective, we have reached our budget with roughly CHF 29 million, so that's a tick box. Turnover itself, 15.2%.
I think important to mention is the CHF 464. We are above the level we have been two years ago with Insulet. When we still had Omnipod in our portfolio, we have now had those two years. We required those two years. Now we are back at the same figure now, growing to half a billion more, as we talk. Of course, the strongest growth driver is delivery systems with 22.7%. That's including, of course, the contract manufacturing business. Ypsomed Diabetes Care, plus 5.5%, and then the other segment, Ypsomed Tech, with 24%. Let me move now to delivery systems. Delivery systems, as you know, is a truly recurring business model, very strong and long-lasting relationships. We now work with 27 out of the top 30 pharma companies.
If a client needs another version for another molecule, we just go into a new customization based on the jointly approved platform. Of the 36 new projects, roughly 60% actually come from existing clients and 40% come from new customers. It's very healthy. We grow together with our partners, big and small, big pharma, biotech, jointly. On injection systems, we have grown at 31%. As I mentioned, this growth mainly comes from products, so from the platforms. The UnoPen, this is the disposable pens, mainly for hormones. The YpsoMate autoinjector, that's mainly for monoclonal antibodies, and ServoPen, our reusable, durable device. You also see here the strong growth in project revenue. We have the same level, roughly. It's important.
Roughly one quarter of CHF 260 million comes from that space. Diabetes care with 5.5%, we cannot be happy. We have grown, but the main growth come from our program with Lilly and Lilly for YpsoPump. Sales almost stagnated. Test strips were slightly decreasing, and pen needles are more or less stable. You will see what we are doing now in that space. Now, I mean, diabetes care itself is a recurring business model. Once you have a patient on a pump, they order sets. We're now at 20,000 patients. You know, we need 45,000-50,000 to get to a black zero, and this is where we are working on at the moment.
We have been able to install and implement mylife Loop, the mylife Loop program, which is now a key focus to roll it out all over Europe. We prepare together with Lilly the US market entry and the whole registration and study program, and we have made a change in the leadership team. As of 1st of June, Sébastien Delarive will join us. Sébastien has been with Sanofi for roughly 20 years. He's an insider marketer. I'm very motivated to have him on board here to give us a stronger phase, a restart for our diabetes care pump business. If you move to the EBIT, it shows here where it comes from, and this is showing the CHF 9 million in 2021 to the CHF 29 million last year.
Obviously, the main growth comes from delivery systems business, just more sales, more project revenue, more profit on that end. We have a bit less, we have more amortizations on YpsoPump. Now, as we have started to use the clouds and the different apps in different markets, obviously we have to start amortize them. That's CHF 5 million additional amortization on the pump program. We spent more money on marketing and sales. We have a positive effect on the patch pump than last year or the year before. We had to depreciate CHF 9 million on the Insulet case, and we gained CHF 5 million on the selling Ypsomed into Lilly. CHF 4 million plus on that end. We had roughly CHF 2 million-CHF 3 million less profit on the other YDC business.
It protected a bit better. That's how we entered to the CHF 29 million. Well on track towards the next CHF 200 million in two years. Important, ladies and gentlemen, is our unchanged positive fundamentals. We are really in executing of our strategy. I've explained to you our for the four trends, the self-care, you know, the biologics, biosimilars, and digital. The trends, the global business, including the business model itself, is very stable. We operate for the coming 10+ years in an environment where we can only grow if we don't make mistakes. Supply chain is very reliable and also robust. We have a strong assessment. We are very close to it. Also, our relationship to the two Russian clients are stable.
We have changed on the payment mode and on the delivery mode, but it's a topic where we have to be able to still deliver. I mean, if we don't deliver devices, people in Russia will not receive their insulin. It makes roughly 4% of our top line. And we constantly improve our platform offering and our long-term partnerships. We extend our businesses into digital services, and we execute a sustainable strategy. We continue to invest in innovation and expansion of capacities and in employees. This is why we have grown also on the employee side, 200 new jobs in 24 months, 99 positions in the last year. You see here on the graph where we add people. We still are in a comfortable situation that we find good qualified people.
Have also opened a software center in Barcelona in order to accelerate the growth in digital area. On the investment, we have spent roughly CHF 110 million. That was more or less on target. We are going to even slightly increase that over the coming years as of our growth programs on the device side. It shows that now we can profit also from our R&D investment. Now we start commercializing and also industrializing the devices, and this, of course, requires investments again into fixed assets. That's one reason why we have decided to increase our capital. We are going to offer 1 million new shares from the 16th to the 23rd of June.
The main message here to you is that my family, our family, is going to participate in that capital increase in full. For all more details, I'm asking you to contact ZKB. ZKB is the Zürcher Kantonalbank. They are the sole global coordinator for that capital increase, which is important for us in order to A, optimize our equity ratio. We will get into a very stable environment. We are not dependent from banks today, and we don't want to be dependent tomorrow, but we really enhance our equity ratio. Of course, we need the money to grow in capacity, in manufacturing line, in tools, casting molding tools, and in industrialization power. The second reason is to focus on digitalization. Our products are becoming or getting more digital.
For that purpose, we are entering two partnerships where we build new products. I'm going to deepen that in a minute. Let me come to the outlook, and I would like to start with a couple of assumptions to that. Now, clearly, we are going to introduce new products on delivery system side almost month by month. But we see a small backlog here through the FDA. COVID has put more work on the FDA. Some backlogs are there. Some of our clients see a small delay. That's why we're going to see a stronger H2 and a slightly weaker H1. On diabetes care side, the launch of CamAPS is important. It is a restart. We have launched in Germany now. We're going to launch Austria and Switzerland before the summer break.
After summer break, all the rest of the European countries. We will spend a bit more on the launch, and we have here a bit higher investments on R&D, especially working on more medical evidence. Those assumptions lead us to the outlook for the financial years 2022/2023, where we see a sales growth in the same area of 15%. We're going to grow on the operating profit of at least 50%. We will land somewhere 45-ish ±. Then we see a doubling of the EBIT in the following year, 2023/2024, in direction of CHF 90 million-CHF 100 million. Well on track of what we have predicted two and one year ago. With that, I would like to just talk briefly about the change in the board. My father is 75 years of age now.
He's decided to step back as our chairman. He was my mentor for many, many years. He still is, of course. I'm very happy to have Gilbert Achermann joining us. He is with us in the board now for two years. He knows our industry well, and I think important here is Gilbert with his former role as CEO of the Straumann Group, the world's leading dental group, and now the chairman of the Straumann Group. I have somebody here next to me that can support us in the team, management team with clear advice and a great insight. Straumann is there where we want to bring Ypsomed. They have done many of these things, and I'm going to enjoy and look forward to that collaboration.
He is up for election at the general assembly on the 29th of June. With that, I have the chance to make a deep dive here on a couple of the strategic topics, so our four strategic topics, and I would like to start with innovation and digital health. The most important element obviously is the introduction of the AID with CamDiab, so including the Dexcom G6. The important element here is this algorithm, and we have scouted all algorithms, all available algorithms out there, and we came to the conclusion this is the right product for us. Professor Roman Hovorka, the inventor and owner of this algorithm with his company CamDiab out of Cambridge, England, has been working for the past 15 years with over 30 studies to deliver this product.
It's an adaptive algorithm that is personalized. It's self-learning. It takes up the information, the measurements, the knowledge that it has gathered over the past one to 10 days and constantly enhances and changes, adapts the algorithm in order to bring better outcome to patients on pumps. The Dexcom signal is captured, it's calculated, and the order how to infuse is sent via Bluetooth to the YpsoPump. We have been launching the program together with him at the ATTD, our major congress in Barcelona a couple of weeks ago. Two to three weeks ago, we have been starting in Germany introducing mylife Loop. mylife Loop is the CamAPS solution, and you see here, it's in German, actually, I just realized.
Basically, patients being really happy to go to bed, they activate the loop mode, the auto mode, so-called auto mode, and they wake up in an optimal time and range for the first time in their life. It's a game-changing product. It's really, you know, supporting on the dawn phenomenon. You don't have to give syrup or sugar to kids before they go to bed in order not to have them drop too low in the early morning. It's an excellent product. We are so motivated to launch it now. We have now roughly 250 patients on the program after two and a half weeks. A great launch.
We are announcing it right now broader at the DDG, the German major congress, I think it's in Leipzig, and then we're going to roll it out, as I mentioned before, all over Europe. At the same time, we are happy and very pleased to announce our partnership with Abbott. We have always said that we like Dexcom very much. It's an excellent relationship, but we need to give freedom of choice. The Libre 3 is especially in Europe, a very well-accepted product where Dexcom is not so strong as in France, for instance. Libre 3 or Libre 2 and 3 are extremely dominant in those markets, so we need to give access to that sensor also to YpsoPump users. We are integrating that program at the moment, on a high speed.
We hope to be able to deliver it by end of the year, latest end of the business year. We have also made progress on innovation and digitization in the Ypsomed delivery system space. The YpsoMate On, the so-called On product, is our fully connected. It's the first fully connected disposable auto-injector out there. It's a product that talks directly via phone into the cloud in order to start working on adherence, and it's the first product in Ypsomed, a product program which is fully designed under our new Ecodesign Guideline. It can not only assemble it well, it can also disassemble it well, so we can start thinking about recycling. Now, what's the goal of YpsoMate On and marketing in general. Obviously, it's a catalyst, a means in order to enhance the therapy.
To enhance therapy under smart services by capturing injection data, by sending them into clouds and providing them through therapy management solutions to patients. Now, how are we doing that? We have decided to partner. Of course, we shift from solely sending shipping devices to offering complete therapeutic options, as we do it already on the pump side. On the pump side with the algorithm, we take full automated influence in the quality of the therapy. Now we want to do the same thing on devices, on pens or injectors for monoclonal antibodies. Very expensive treatment. If you don't take it well enough, you will get into adherence issues.
You will get into issues with your chronic disease. This is why we are going to combine our devices for the traditional treatments with digital therapeutics, DTx, how we call it, into new joint offerings. Ypsomed is the party that offers those programs to big pharma biotechs, including solutions from third parties. We're going to announce in the second half of this year two partnerships with established therapy management companies.
We integrate those solutions into the Ypsomed Smart Services program. Very thrilled about it. We'll hear a lot about it. It's a game-changing way of Ypsomed no longer just selling devices, but successful therapy. In order to do that, we need to grow also on the digital space in terms of new colleagues. We have decided to do that in Spain. In Barcelona, we have a large hub for people with software background. We have now our first 35-40 people there. We're going to double it until end of the year, and we have inaugurated our new offices here together with the Swiss ambassador. Access and expansion.
Expansion is not only geographic expansion, it's only expansion into new areas of therapies. One good example is the launch of YpsoMate 2.25 Pro in the space of atopic dermatitis. Together with LEO Pharma, we have launched a product to treat this chronic disease of atopic dermatitis. You take a shot every two weeks and you keep your dermatitis under control. Because this drug is a high viscous drug, almost a honey, you could think, we need a pro version, so the patient YpsoMate is a much stronger spring in order to push that drug under your skin and treat your chronic disease. I just briefly want to mention YpsoDose. It's a very large program within Ypsomed. We are going to talk more about it in 2023, but it's well on track together with Schott.
We have various clients on the program. It's for products that don't fit into an open injector anymore. It's for products which are 5-10 mL, larger volumes, where the formulation experts in pharma companies don't achieve to bring it into a pen or open injector. They have to choose bigger formats. Obviously, you cannot inject such a big volume at once. That's why we offer such a patch. You put on your belly, you push the button, it infuses it over 20-30 minutes. It beeps, you can take it off. It's automating, it's communicating directly through the cloud to the nurse, and the doctor knows whether the treatment has taken place or not. A great example also here of digital therapy in the space of immuno-oncology, mainly a new large area where Ypsomed is entering.
And it's important to mention, we are actually active in more and more disease areas. We have added products in the space of psoriasis, such as Cosentyx, and now dermatitis. If you go a slide further, we see that we are even moving into more areas. Obesity is the big, big next step. Obesity has been accepted as an illness, as a disease, and we want to play a significant role in that space. Alzheimer's, there are still a couple of companies out there working, trying to solve that major issue. We want to play a role in that space if those drugs work. As I just mentioned, another example, the whole huge space of PDX in the space of immuno-oncology, where treatments are going to move from hospital to home, the healthcare business where Ypsomed is active. Platforms.
I just want to mention that again and again and again, this is the reason for our success. We stick to our platforms. We motivate our companies, our customers to use our standard products. Why does this make sense for them? It mainly makes sense because we do the risky job up front, and once they join us, they have a much, much, much lower risk. The custom project starts, we customize, and we have much less time, much less risk. We did the FTO, we did the patent analysis, we did the whole industrialization all up front. The customer is flexible in ranking up volumes because we have provided the factory around it. This is our established platform device offering.
This is the reason why delivery systems have been so successful over the past years and why it's going to be successful over future years. One good example is the evolution of YpsoMate, our autoinjector. We have started in the middle here with the 1 mL, the 1 milliliter product for 1 mL prefilled syringes, glass syringes, for instance, from Becton Dickinson. We move now in different versions. One version is the high viscosity product. I just mentioned to you, the dermatitis product. We very need a stronger spring. We call this product Pro version. I also mentioned to you the On version. The YpsoMate On is the one that is fully connected, and next to it you see the SmartPilot. You can take this product, put it on top of a regular autoinjector and communicate with the cloud directly.
We're also moving into the space of sustainability by offering a zero carbon option, by offering a device where we take the carbon CO₂ out of it by changing material and by compensating the rest in order to get down to zero. We have many clients now being interested in that area. That's a premium offering, of course, to have a carbon net zero product. And we're now also working on an even larger version, a 5.5 ml version, because some formulations may fit into such a format. We don't want to hand out two open injectors at the same time, so they try to bring it into one 5 ml. Quite a big one, but we see a couple of cases out there. This is why we are investing in that, you know, differentiation of our YpsoMate platform.
In order to achieve that, in order to bring those products to market, we need to accelerate the expansion. Obviously Schwerin is ideal for it. Today we have 24,000 square meters. We have a huge area of 20 hectares of space. We could quadruple this 24,000 easily from a space perspective. We're adding now just 4,000 square meters to the west. The 200-meter to the west, we add another hall. That's the quickest win. We start about doubling in mirroring in 2026, 2027. We have also now decided to build our own factory in China. We have been talking about it last November already. We have now selected Changzhou, Jiangsu province. That's roughly 50 minutes west of Shanghai, Suzhou, so in a very populated area. It's a good city. It's still a very healthy city.
2 million people, not too big. We get red carpets. People are interested in us. We're going to build our own factory here, mainly China for China. We have this de-globalization trend that is stronger and stronger nowadays, and we are absolutely convinced if we want to stay in China, today, we are the market leader in China, we want to stay there and want to grow with the market in China, we have to become Chinese. This is why we are building the factory there in the south of China in order to provide products locally. With that, I would like to move to the last strategic pillar, but a very important topic for us, which is our global responsibility and engagement. We have explained to you in the last call our ambition towards the support of 1.5.
At the moment, the World Economic Forum is taking place here in Switzerland, and that's the number two topic after the war in the Ukraine. You can imagine, that's the biggest challenge that mankind faces, and it only works if everybody contributes. We are going to contribute by taking CO₂ carbon emissions out of our programs, out of our products, out of our system. We have now decided how we are doing this. We have defined clear principles. We want to reduce first and substitute before compensate. That's a very important point. That's also what the SBTI, Science Based Targets initiative asks. Substitute, reduce, try to think about, you know, programs of taking product even back, recycle them, and bringing back into devices. Something we wouldn't have thought about ten years ago becomes a real true option.
In the end, we will have some remaining carbon somewhere in our company, and this is to be compensated. That's why we are already starting building our own portfolio of carbon credits. We have now acquired carbon credits from UN-approved programs in Kenya, Tanzania, and India. There's definitely more coming. If you look at the current price level with carbon tech, we were able to acquire quite interesting certificates here, and we are going to grow that wallet over the future years in order to retire them when we need. Definitely a clear strategy we have here. We don't do that alone. We have installed the Alliance to Zero two years ago. We are at the moment heading this organization together with 12 other companies in our industry.
We have the pledge to provide carbon net zero products into the pharma stream. We solve the problem for pharma in our small world of drug packaging. We adhere to the science-based targets. We report on the CDP, and we are partner of many renowned organizations. With that, ladies and gentlemen, I would like to conclude. I can summarize, we had a good year in a tough situation after COVID and the Ukraine situation. Now, we have to have our mind together and really focus.
We are in an excellent situation with the global trends, healthcare, with the global trend of biologics, with biosimilars, and with digitization. This is why we profit, this is why we grow also tomorrow. Thank you for your interest and your trust. I would like to hand the word back to Thomas. If there are any questions, I'm here with Niklaus Ramseier. If you have any forward-looking questions, we can answer them together. Thank you very much.
Thank you, Simon, for this very interesting explanations and, description of our business performance. Gabriela, please, may I ask you to open the lines for questions?
Yes. Ladies and gentlemen, you have now the opportunity to ask questions by dialing star 14 on your telephone keypad. At your turn, you will hear a short announcement saying, "Unmuted on your line." Star one four for questions, please. There are no questions at the moment.
Okay. I think we can close the call. We thank you all, everybody, for the interest in Ypsomed. Of course, we are here to support you. If you have any questions, please feel free to contact me. I thank you, Simon and Niklaus, for your support in this event, in this conference. Also my thanks to Gabriela, and I kindly ask you now to close the lines. Thank you. Good day.