Swedish Orphan Biovitrum Ab · OMXSTO:SOBI
Swedish Orphan Biovitrum Ab — Q3 2019 Earnings Presentation
21 slides from Swedish Orphan Biovitrum Ab's earnings presentation, Oct 31, 2019
Slide 1: Sobi Q3 2019 results presentation
Sobi Q3 2019 results presentation 31 October 2019
Slide 2: Forward looking statements
Forward looking statements In order to utilise the ‘Safe Harbor’ provisions of the United States Private Securities Litigation Reform Act of 1995, Swedish Orphan Biovitrum AB (publ) is providing the following cautionary statement. This presentation contains forward-looking statements with respect to
Slide 3: Presenters
Guido Oelkers, CEO Presenters Henrik Stenqvist, CFO 3
Slide 4: Continued strong double-digit growth
Continued strong double-digit growth • Total revenue of SEK 2,930 M (2,315), 27 per cent revenue growth in the quarter compared with Q3 2018 (22 per cent at constant exchange rates (CER)) • EBITA was SEK 1,099 M (933), an increase of 18 per cent • Sales for Elocta® were SEK 1,156 M (873) and sales f
Slide 5: Pre-market assets have potential to deliver more value than current on-market portfolio
Pre-market assets have potential to deliver more value than current on-market portfolio Haematology Immunology Specialty Care Pre - Market Doptelet* CIT, ITP (EU, ROW) Gamifant sHLH BIVV001 Gamifant other indications BIVV002 Kineret indication expansion MEDI8897 On - Market Elocta Kineret Orfadin Al
Slide 6: Business Review
Business Review 6
Slide 7: Elocta – continued double-digit growth
Elocta – continued double-digit growth Sales (SEK M) • Q3 product sales of SEK 1,156 M (873)1 1 250 5,000 • Sales growth of 36 per cent (33 per cent at CER) adjusted for one-offs (29 as well as 32 per cent 1 000 4,000 at CER incl. one-offs) 750 3,000 • Majority of growth derived from France, Germany
Slide 8: Alprolix – continued patient growth
Alprolix– continued patient growth Sales (SEK M) • Q3 product sales of SEK 341 M (255) 500 2,000 • Sales growth of 34 per cent (30 per cent at CER) 400 1,600 • Majority of the growth derived from Germany, France, Netherlands and Italy. 300 1,200 • Lower sales due to seasonal effects 200 800 100 400
Slide 9: Haemophilia – strong position with substantial potential
Haemophilia – strong position with substantial potential Continued exceptional momentum - Future growth driven by penetration and internationalisation Individualised therapy only possible with factor replacement - Ensuring best outcome for patients with a clear safety profile Significant promise now
Slide 10: Haematology will be a dynamically growing franchise in the years to come
Haematology will be a dynamically growing franchise in the years to come We have brought the first With TPO we expand into Doptelet will create a strong Sobi will bring another game innovation in 20 years in the haematology with cadence of launches across changer to haemophilia market very conservat
Slide 11: Acquisition details
Acquisition details Deal terms • Single-asset company with launch-phase asset • The transaction is valued at up to USD 915 million (approximately SEK 9.0 billion) on a fully diluted basis • Doptelet® (avatrombapag), orally administered, second-generation thrombopoietin receptor (TPO) • The transacti
Slide 12: Driving growth in Immunology
Driving growth in Immunology Strong base business with Kineret – back to double-digit growth Gamifant – high unmet medical need driving growth Synagis – team up to speed for the upcoming RSV season 12
Slide 13: Immunology – strong overall growth
Immunology – strong overall growth Sales (SEK M) • Total Immunology revenue of SEK 600 M 1 500 • Q3 Synagis sales of SEK 124 M 1 200 - Thorough execution of pre-seasonal activities - Encouraging signals of strong prescription referrals in southern US states 900 - Wholesalers started to build up stoc
Slide 14: Gamifant – gaining more acceptance in primary HLH
Gamifant – gaining more acceptance in primary HLH • Q3 sales of SEK 67 M • Sales patterns for launches in ultra-rare diseases are volatile due to the limited number of patients • Gamifant sales were negatively affected by approximately SEK 30-40 M due to inventory shifts in Q3 • Sales development wi
Slide 15: Financial results
Financial results 15
Slide 16: Financial results
Financial results Total revenues (SEK M) 3 500 Q3 Q3 Jan-Sep Jan-Sep Full-year 3 000 Amounts in SEK M 2019 2018 Change 2019 2018 Change 2018 Total revenue 2,930 2,315 27% 9,358 6,568 42% 9,139 2 500 Gross profit 2,173 1,741 25% 7,080 4,830 47% 6,723 Gross margin1 74% 75% 76% 74% 74% 2 000 EBITA1 1,0
Slide 17: Operating cash flow & net debt
Operating cash flow & net debt Operating Cash Flow Development (M SEK) 1 400 100% • Continued strong cash conversion 1 200 80% 1 000 65% 68% • Q3 19 Net Debt of 7.6B SEK 58% 58% 55% 800 52% 50% 60% - Q3 19 Net Debt / EBITDA < 1.5x 600 40% - Rapid deleveraging 400 20% • Cash conversion and operating
Slide 18: Financial outlook
Financial outlook 18
Slide 19: Financial outlook 2019
Financial outlook 2019 • Sobi reiterates the financial outlook for 2019 published on 17 July, 2019. • Sobi expects revenue for the full year to be in the range of SEK 13,000 - 13,500 M1,2 • EBITA for the full year is expected to be in the range of SEK 5,300 - 5,500 M1,2 excluding restructuring costs
Slide 20: Q&A
Q&A 20
Slide 21: Sobi is a trademark of Swedish Orphan Biovitrum AB (publ)
Sobi is a trademark of Swedish Orphan Biovitrum AB (publ). © 2019 Swedish Orphan Biovitrum AB (publ) – All rights reserved Swedish Orphan Biovitrum AB (publ) SE-112 76 Stockholm • Sweden www.sobi.com
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