Slide 1: Chairman's Address and Managing Director's Presentation
ESL 16 October 2003 The Company Announcements Office Australian Stock Exchange Limited 530 Collins St MELBOURNE VIC 3000 Dear Sir/Madam CHAIRMAN’S ADDRESS AND MANAGING DIRECTOR’S PRESENTATION Please find attached copies of the Chairman’s Address and Managing Director’s presentation slides to be pres
Slide 2: Chairman's Address – Thirteenth Annual General Meeting
CSL LIMITED’s THIRTEENTH ANNUAL GENERAL MEETING CHAIRMAN’S ADDRESS 16 OCTOBER 2003 “As shareholders will have already appreciated, last financial year proved to be a difficult year for the Company. "However, | am pleased to be able to report that during the year we have continued to expand key busin
Slide 3: Financial Results and Foreign Exchange Policy
* We have continued to implement human resources policies that help to create an environment for achievement and that align the skills of our people with CSL's strategic objectives. FIN NCIAL RESULTS “Despite ZLB experiencing a difficult trading year, all our other businesses performed well to deliv
Slide 4: Human Health: ZLB and CSL Bioplasma
Europe, South America and the Middle Mast although due to the period allowed to Novartis to sell its inventory, sales uptake was delayed. Increasing sales are now being made through newly established affiliated companies in the United Kingdom, Germany, Belgium and Italy as well as through distributo
Slide 5: CSL Pharmaceutical: Menjugate and Fluvax
"In October 2002, shortly after we introduced Menjugate to the market, the Federal Government announced a major vaccination program to provide protection against meningococcal C disease for all children in Australia up to the age of 19. CSL will supply Menjugate to several States and Territories dur
Slide 6: JRH Biosciences and Animal Health
some of the world’s largest pharmaceutical companies moving through clinical trials and was supported by launches of new products and services. "We will sustain our growth by increasing sales of cell culture products for use in clinical phase biopharmaceutical products moving through the drug develo
Slide 7: ZLB Plasma Services and Aventis Behring
ZLB PLASMA SERVICES *ZLB Plasma Services is one of the largest collectors of human blood plasma in the world and a major supplier to the US fractionation industry. "Operational efficiencies implemented this year in plasma collection centres and our plasma testing laboratory in Miami, Florida contrib
Slide 8: Corporate Governance
I would like to draw your attention to some key components. "Firstly, a formal Charter was adopted by the Board documenting its membership, its operating procedures and the apportionment of responsibilities between the Board and CSL management. "Regarding the composition of the Board, the Charter pr
Slide 9: Outlook
OUTLOOK “It is hard to deny that the year just passed has been a very difficult year for the Company in relation to its trading operations. However, | am of the view that the market for our VIG products in the US appears to have stabilised. It is also apparent as a result of both Aventis and Bayer d
Slide 10: Slide 10
Slide 11: Review 2002/03
a Sureney State y i Reg ges @ Review 2002/03 ¢ Pla Plan ~=~—e oO -
Slide 12: Sales growth by business
+ JRH Biosciences sales growth 28% ¢.CSL Ph growth 25° arma sales, (ex _ 3% Logi _.
Slide 13: Financial Performance: Revenues
a Revenues Financial Performance S 3% Forex adj 1%
Slide 14: Revenue by business, June 2003
June 2003 $1,300.3m ZLB Plasma Services 20% Animal Health 5% Blosciences 13%
Slide 15: WO Uy
WO Uy a AO ee ee FP | — as oe Co rr
Slide 16: Currency hedging approach
@ Create “natural” hedges where possible — ~ Gear foreign subsidiaries i mi enor inatedebtin USD and: Swiss —— ter match foreig ign curr y ce hflows = — Z ce en denominate : sales (euro, s.
Slide 17: Efficiency focus and market expansion
° Efficiency focus - | @ Integration of global research, sales a nd marketing co «¢ Market Expansion 7 @&=~=>—_ai( ‘i‘((RNY—“ k&§r”C~*:*:i‘COCOi‘C‘COiC oe .
Slide 18: Clinical Development
Clinical Development @ Encouraged by 5th International Symposium on IVIG | __{interlaken) and recent publicatior SSS
Slide 19: Plasma Plan
lasma Plan || Commitmentto4plasmainnovation projects
Slide 20: Improved Liquid IVIG
Improved Liquid IVIG > Production process and formulation development . 04 . — |
Slide 21: Reconstituted HDL for Stroke
Reconstituted HDL for Stroke * Strategic benefit - novel fraction from plasma with potential for recombinant vee generation ¢ Encouraging preclinical stroke data v validated CON
Slide 22: Recombinant Anti D for HDN
Recombinant Anti D for HDN Plasma Plan - + Global plasma product including Z2LBICSI. c combinant. ees has « heck progi Ss on urdies See -. Product Innovation
Slide 23: Fibrin Bandage / Haemostatic Dressing
Fibrin Bandage | Haemostatic Dressing o Over 2000 compassionate use HDs produced pS pay SS SS SS _ @ Ongoing production contract with i rican C with ft nding support. rmy a
Slide 24: Aventis Behring: revenue per litre
iT | unpr ‘0 fitable litre s ~ Alpha (Pro bitas), Baxter @ Revenue perlitre priority == —.
Slide 25: Due diligence almost complete
@ Due diligence almost complete Confirmed strategic and operational fit ——— Cl - Mis factur ee ee ae Te Ow
Slide 26: CSL / National Blood Authority negotiations
@ CSL/ NBA (National Blood Authority) to enter negotiations | 1 @ New contract ex xpe ie d Se eptembe ; ave -— ~ to ¢ NBA aco 4 agree eT : ) to 6 month ex exte tensic ono of exis istin [ ng _ AEE ECE TESS aE Oa] |
Slide 27: Pricing remains competitive
Pricing remains competitive (US$36 to US$38/gm oN mena Pi FCCC Em CLM Caw | ol y ex manufactures sales volume 710% in 2003 = =—ti‘“CO™OS _surp Js inventor , redu g D ‘ : 7 . 7 : 7) _ s 2 2.
Slide 28: Earnings forecast and currency impact
ILE ent ecast to be similar to t the 2nd half NPAT of 2002/03 | — Result im ipac cted by further currency m jovernents:
Slide 29: USD/CHF Exchange Rate
5 Year USD/CHF Exchange Rate
Slide 30: SMe
SMe I MN UT OO __—_w_w_w_i ins
Slide 31: NPAT forecast assumptions
il 4 ——e* NAAT recat based on: WY OV ~~ it... ‘Price 1s in US market sta abilis Se — Le ce a a ae
Slide 32: Medium Term Drivers of Value
-Medium Term Drivers of Value ¢@ Plasma rationalisation benefits + new products - 7 i * = v a OO _ ¢ it growth. | ~2C / —rti‘“‘C™CS;73; OC<ACC™ési‘(isés?s