Slide 1: First nine months and Third quarter results
2011 First nine months and Third quarter results Conference call, 25 October 2011
Slide 2: First nine months 2011 highlights
First nine months 2011 highlights A very productive nine months • Revenue € 580.6 million, up 5.8%. • Operating income (EBIT) € 128.9 128 9 million or 22.2% 22 2% of sales sales, up 4 1% 4.1%. • Net income € 92.0 million or 15.9% of sales, up 5.8%. • Acquisition of Procto Glyvenol for the markets of
Slide 3: Composition of revenue
Composition of revenue New emerging markets and new products driving growth (million Euro) Jan‐Sep 2011 Jan‐Sep 2010 Change % Italy 168.5 150.0 12.4 France 96.8 105.0 (7.8) Germany 49.4 45.7 8.0 Portugal 25.8 28.0 (7.7) S i Spain 23 3 23.3 22 2 22.2 51 5.1 United Kingdom 5.8 7.3 (20.4) Other Western
Slide 4: A growing presence in Eastern Europe and Turkey
A growing presence in Eastern Europe and Turkey Portugal 4.6% Spain 4.2% UK 1.1% Germany 8.8% Other W. European countries 2.6% Russia, Turkey, other CEE 11.0% France 17.3% Other international sales 20.2% (sales to licensees and exports) Italy 30.2% Data: First nine months 2011 Pharmaceutical revenue
Slide 5: Main product sales
Main product sales Corporate products including orphan drugs now account for 42.1% of sales (million Euro) Jan‐Sep 2011 Jan‐Sep 2010 Change % Zanidip® (lercanidipine) 98.0 117.8 (16.8) ® ((lercanidipine+enalapril) p Zanipress p p ) 30.9 22.8 35.7 Urorec® (silodosin) 12.8 0.7 n.s. Livazo® (pitavastat
Slide 6: A richer product portfolio
A richer product portfolio Zanipress 5.3% Urorec 2.2% Other corporate products 8.5% Zanidip 16.9% Orphan drugs 9 9.2% 2% Pharmaceutical chemicals 4.1% Subsidiaries local product Subsidiaries’ Other revenue 3.8% portfolios 50.0% Data: First nine months 2011 Total revenue € 580.6 m 6
Slide 7: First nine months 2011 results
First nine months 2011 results Healthy sales and earnings growth (million Euro) Jan‐Sep 2011 Jan‐Sep 2010 Change % Revenue 580.6 548.6 5.8 Gross Profit 383.8 369.1 4.0 as % of revenue 66 1 66.1 67 3 67.3 SG&A Expenses 208.2 195.1 6.7 as % of revenue 35.9 35.6 R&D Expenses 44.0 46.0 (4.5) as % of rev
Slide 8: Third quarter 2011 results
Third quarter 2011 results Strong net income growth (million Euro) 3Q 2011 3Q 2010 Change % Revenue 179.6 172.4 4.2 Gross Profit 116.3 114.3 1.8 as % of revenue 64 8 64.8 66 3 66.3 SG&A Expenses 60.5 59.9 0.9 as % of revenue 33.7 34.8 R&D Expenses 13.0 13.2 (1.1) as % of revenue 7.2 7.6 Other Income
Slide 9: Financial position and Shareholders’ equity
Financial position and Shareholders’ equity Net debt following the acquisition of Frik Ilaç, payment of dividends and other investments (million Euro) 30 Sep 2011 31 Dec 2010 Change Cash and short‐term financial 162 4 162.4 161 7 161.7 08 0.8 investments Bank overdrafts and short‐term loans (23.2) (
Slide 10: Financial projections
Financial projections 2011 targets 2010 2011 (million Euro) Actuall Targets Revenue 728.1 > 750 Operating income (EBIT) 154.8 >160 Net Income 108.6 >110 Based on existing business, possible new acquisitions could be added 10
Slide 11: Company declarations, disclaimers and profile
Company declarations, disclaimers and profile DECLARATION BY THE MANAGER RESPONSIBLE FOR PREPARING THE COMPANY’S FINANCIAL REPORTS The manager responsible for preparing the company’s financial reports Fritz Squindo declares, pursuant to paragraph 2 of Article 154‐bis of the Consolidated Law on Finan