Aft Pharmaceuticals Ltd. · NZX:AFT
Aft Pharmaceuticals — H1 2025 Earnings Presentation
24 slides from Aft Pharmaceuticals's earnings presentation, Nov 21, 2024
Slide 1: 1H 2025 Investor Presentation
1H 2025 INVESTOR PRESENTATION Dr Hartley Atkinson Managing Director Malcolm Tubby Chief Financial Officer 21 NOVEMBER 2024
Slide 2: Important Notice
Important Notice This presentation has been prepared by AFT Pharmaceuticals Limited (“AFT”), to provide a general overview of the performance of AFT. It is not prepared for any other purpose and must not be provided to any person other than the intended recipient. This presentation should be read in
Slide 3: Agenda
Agenda • Highlights • Strategic progress Dr Hartley Atkinson • Financial Performance Managing Director • Outlook • Questions Malcolm Tubby Chief Financial Officer AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH 3
Slide 4: Record Revenue and Investment for Growth
Record Revenue and Investment for Growth HIGHLIGHTS • Half-year operating revenue up 4% to $86.7M led by growth in the core Australasian business. Sales from products and royalties up 6% to $86.5M • Operating loss of $1.8M primarily due to several International customers reducing stock levels and Ko
Slide 5: Australia: Strong Growth in All Channels
Australia: Strong Growth in All Channels • Revenue in Australia grew 19% to $50.8 million from $42.7 million in the same period a year ago. Revenue was lifted by strong growth in all channels • Our new product launch program continues to roll out as planned • Operating profit rose to $4.0 million fr
Slide 6: New Zealand: Growth led by the OTC and the prescription channels
New Zealand: Growth led by the OTC and the prescription channels • Revenue in New Zealand grew 14% to $26.0 million with growth led by the OTC and prescription channels and product launches in the prior financial year. • Operating profit was up to $3.7 million NEW ZEALAND REVENUE NEW ZEALAND CHANNEL
Slide 7: Asia: Growth in OTC and Online
Asia: Growth in OTC and Online • Asian revenue was down to $4.4 million. Growth in OTC and online via cross border e-commerce channel into China • Gains diluted by the doctors' strike in South Korea • Operating profit is down to $0.5 million reflecting the lower revenue and increased spending on mar
Slide 8: International – Investing for Long Term Growth in New Markets
International – Investing for Long Term Growth in New Markets INTERNATIONAL REVENUE* MAXIGESIC’S GLOBAL REACH $30.0 $27.8 90 80 77 73 COUNTRIES SOLD AND ORDERED $25.0 70 61 $15.0 60 $20.0 50 46 43 NZ$M $15.0 $13.1 40 $11.7 28 $9.9 30 $10.0 $9.1 20 20 7 9 $12.8 10 4 $5.0 2 3 $5.6 0 FY2014 FY2015 FY20
Slide 9: AFT's Global Reach
AFT’s Global Reach Our medicines are now available in nearly 80 countries around the world AFT PHARMACEUTICALS WORKING TO IMPROVE YOUR HEALTH 9
Slide 10: Expanding AFT's Global Footprint
Expanding AFT’s Global Footprint Opening new markets for our proprietary IP and in-licensed new products AFT PHARM UK (70% AFT) • Launched Combogesic IV & Tablets2, seeing good progress • A growing pipeline of products • Now an accredited NHS supplier; won 100% of hospital bids; these commence in ea
Slide 11: Expanding AFT's Global Footprint
Expanding AFT’s Global Footprint Opening new markets for our proprietary IP and in-licensed new products AFT PHARM CANADA (70% AFT) • Launched Combogesic tablets1 through a partner, to launch Crystaderm FY25 through a partner • To launch Combogesic IV ex AFT Pharm Canada alongside selected OTC offer
Slide 12: Research and Development Investments Moving to Commercialisation
Research and Development Investments Moving to Commercialisation Several projects have exited and are moving to revenue generation COMMERCIALISATION PROGRESSING RESEARCH AND DEVELOPMENT EXPENSES* 18 agreements under discussion awaiting final signature on a four-drug $14.0 distribution agreement $11.
Slide 13: A Strong Research and Development Pipeline
A Strong Research and Development Pipeline AFT’s positive cashflows have positioned the company well to undertake and secure research and development projects either alone or in partnership with others. PROJECT PATENT PARTNERSHIP / APPLICATION DERMATOLOGY Pascomer 2040/20441 Facial angiofibromas / P
Slide 14: Gross Margin and Operating Profit Diluted by Mix Changes and Investment
Gross Margin and Operating Profit Diluted by Mix Changes and Investment 2024 Revenue 2023 Revenue Six months to 30 September $000 % $000 % ∆% Revenue 86,713 83,614 4% • Revenue from product and royalties up 6% lifted led by double digit Gross profit 36,199 41.7% 35,936 43.0% Australasian sales growt
Slide 15: AFT is Well Funded – Well Positioned to Fund Growth Investment
AFT is Well Funded – Well Positioned to Fund Growth Investment 2024 2023 Six months to 30 September $000 $000 ∆% Current assets (excluding cash) 76,090 88,952 Cash 10,686 6,172 73% • Net debt1 at the end of September 2024 was $18.9 million down from Non current assets 61,117 63,748 $30.6 million at
Slide 16: Growth Investment Underpinned by Ongoing Strong Cashflow
Growth Investment Underpinned by Ongoing Strong Cashflow 2024 2023 Six months to 30 September $000 $000 ∆% • Net cash from operating activities reduces due to one-off demand disruptions Net cash generated from operating activities 4,353 7,468 (42)% • Continued investment into research and Net cash u
Slide 17: Outlook: Positioned to Drive Future Growth in Both Revenue and Earnings
Outlook: Positioned to Drive Future Growth in Both Revenue and Earnings • AFT expects a strong recovery in the second half of the year, in line with prior years, assisted by: • a strong program of new product launches especially in International markets • building momentum in the new markets • the r
Slide 18: Appendix
APPENDIX
Slide 19: Appendix 1: History of AFT Pharmaceuticals
Appendix 1: History of AFT Pharmaceuticals AFT was founded over 25 years ago by Dr Hartley and Marree Atkinson. Since then, AFT has remained an Atkinson-family controlled business and has grown organically into Australia and internationally The 2015 IPO raised funds to pursue a more aggressive (and
Slide 20: Appendix 2: Australasian Product Portfolio
Appendix 2: Australasian Product Portfolio AFT has the #1 selling product (Maxigesic) in the Australian para-ibu1 combo pain relief. AFT’s portfolio includes a combination of over 150 proprietary, branded and generic products which address the following therapeutic areas: Pain Maxigesic, ParaOsteo,
Slide 21: Appendix 3: AFT Global Product Portfolio
Appendix 3: AFT Global Product Portfolio AFT is building the global presence of its proprietary and patented products through its network of licensees and distributors. It continues the development of its portfolio of repurposed medicines: Maxigesic1, Pascomer, NasoSURF, and Crystaderm Pain Maxigesi
Slide 22: Appendix 4: Extending the Reach of the Maxigesic Portfolio
Appendix 4: Extending the Reach of the Maxigesic Portfolio AFT has the #1 selling product (Maxigesic) in the Australian para-ibu1 combo pain relief and is building the presence of the business internationally, through the adoption of existing products and the launch of new dose forms Product Maxiges
Slide 23: Appendix 5: GAAP to Non-GAAP Reconciliation
Appendix 5: GAAP to Non-GAAP Reconciliation AFT’s standard profit measure prepared under New Zealand GAAP is net profit after tax. AFT has used the non-GAAP profit measure of EBITDA when discussing financial performance in this document. AFT directors and management believe that this measure provide
Slide 24: For More Information
FOR MORE INFORMATION Dr Hartley Atkinson Managing Director Email: hartley.atkinson@aftpharm.com Malcolm Tubby Chief Financial Officer Email: malcolm.tubby@aftpharm.com AFT Pharmaceuticals Limited Level 1, 129 Hurstmere Road Takapuna, Auckland 0622 New Zealand www.aftpharm.com